THREAD NOW CLOSED 3 May 2007

LATEST NEWS...(Check RNS service for details)

10/4/2007 - GME removes its minority interest in Patriot so shareholders enjoy 100% of all growth at Patriot
20/3/2007 - GME announces it will no longer support as NIM as non-core but instead focus on Patriot's US$123 order book
4/1/2007 - Cantor Fitgerald report 6.90% Holding
Decemebr - $31m orders reported
w/b 27/11 - Cantor buy >3%, Further order of $11m for rig packages
w/e 24/11 - Orders of $20m announced, but not profitable as expected
w/e 13/10 - Further $8m orders
w/e 27/09 - Further additions by Schroders to 12%
w/e 22/9 - Further orders of c $18m plus Gartmore stake increases to 20%.

Global Marine Energy plc is an Oil services company primarily bringing together and delivering rig component/equipment packages to international markets. GME is the holding company for two subsidiaries, Patriot Mechanical Handling and NIM engineering. Patriot provides the bulk of GME's sales.

GME is a niche player, there being only 1 or 2 alternatives for packaged equipment.
Patriot is a member of Source One drilling - a marketing alliance created by Le Tourneau Ellis Williams (LEWCO). www.source1drilling.com

Thread re-opened post results. Feel free to post away. News summary under picture.

Disclaimer: As always, Do Your Own research as no comments or foward looking statements posted here can be guaranteed.

This is an AIM listed company so high risk - only for investments you & your family can afford and are prepared to loose.



***Latest*** (also see estimated Share position analysis below @ 20 April 2006)
19 Sept - $9m from Brazil & America
14 Aug - GME announces $9m of orders including $1.2m NIM orders for Baker marine
These funded in part from recent raised capital.
11 Aug - GME delivers 11.2m stg (2005 4.76m). NIM issues notified in July addressed.
June - Cobra Ltd take large stake, a few previous buyers add
June - Placings at 15p
25 May - Paul Findlay promoted to Group CEO. S Wild (NIM subsid) off board.
10 May - PMHH signs up to http://www.source1drilling.com alliance
8 May - PMHH huge $8.6M china order+announces multiple chinese deals
5 May - PMH signs exclusive deal with winch company EMCE/Stokvis
4 May - Shroders increase to 11.16%
19 Apr - Shroders buy 10.10% 4,525,000
4 Apr - Gartmore adds stock now 17%, CAML buys 3.52%

Director 1m
UBS
Gartmore
Goldmans
Only 4M free float post consolidation

GME have done everything we asked for except show a profit.

Now 7 MM's on GME. Welcome JEFF.
Quite a party!

Agree all looks positive just need positive comments on income. Started to tick up slowly though

getting ready for blast off... lets hope before 25/12

4mil buy... institutions filling there boots... looking good

so who thinks selling now and buy back at 0.17p would be better

got to admit I sold today... looks like it is actually a pile of shit

thats unusual for you kat to pick a loser and admit it, might be the start of a new beginning.

Good luck K.

For the two investors who remain!, we have interims, consolidation (probably backed up with new orders), a projected profit for 2007 (see Hardman research - Times Online & possibly close to profit in 2006), Gartmore, UBS & Goldman clients on board, and of course PW's 1m.

Sure, of course it's still a big risk (AIM stocks are), but even if things were to go pear-shaped for GME, there are few AIM companies with those credentials, and few in a market with such huge demand. For these reasons, I'm not expecting to start unloading till at least April of next year.

I'm still in- waiting patiently!

MP - 3 of us then ;)

I am also still in these on the basis that they should have sufficient cash now to grow the business, but patience will be needed. The SP upside is restricted by the massive dilution caused by the recent placing at .17p. Sellers will be out on any strength in the share price imo, and the SP could still drift towards the placing price, as those that took part in the placing for a quick profit sell and move on.

C9. Could do however see 9/12/05 Corp synergy. Couple of big orders & could be very different. If GME get a pre-paid or govt work might transform GME. Still can't get over Wood's large investment end Sept. Why not wait till Jan 1 like last year?

http://timesonline.hemscott.com/servlet/HsPublic?context=timesonline&path=be&service=getForecasts&type=brokerforecast&cid=4278

2 skools of thought - which will it be?

im still in bought .8 down to .25 haVe managed to turn 10k into 3k ,seem to haVe a talant for that ,be a Very pleased holder if we get any recoVery.

Be very surprised if we don't see a recovery after consolidation. 2003 saw 0.25p-1.40 in less than 4 months!! AIM stocks though do normally take 2-5 years to come good, so my horizon's Sept 2007 despite currently nursing much heavier losses.

Post consolidation, with institutions buying and cash in bank, GME are much better placed IMO. If Patriot can turn $4.15m in last 60 days, what might they have done before that? Whether this lifts shares of course remains to be seen, but with staff options expiring in Sept 2007, there's lots of incentives IMO.

Hence the expression, "past its Cellby date"! lol

sd

Not unexpected.

Global Marine Energy PLC
19 December 2005


Global Marine Energy plc

IDC joint-venture

The Boards of Global Marine Energy plc, ('GME') and Langbar International
Limited announce that they have decided not to proceed with the proposed
joint-venture vehicle, International Drilling Corporation ('IDC').

The Companies announced on 22nd June 2005 that Heads of Agreement had been
signed.

Mr Wood has resigned from the Board of Langbar International Limited, with
effect from 19th December 2005.

19th December 2005

ENQUIRIES:

Global Marine Energy plc Tel: 01274 531 862

Philip Wood, Chairman

Noble & Company Limited Tel: 0131 225 9677

Adam Westcott

Bankside Consultants Tel: 0207 367 8888

Michael Padley/Susan Scott



This information is provided by RNS
The company news service from the London Stock Exchange

View this as good IMO.

1) More focus on GME not LGB - gets rid of 'the noise'
2) Less time chasing big (too ambitious IMO) rig build contracts. GME's not there yet. Would rather they get more $1-2m work with CNOOC, Kepel, Baker etc.
3) T/over comes quicker from smaller deals - rig would take 3-4 years plus take up lots of staff, and probably cause loads of design issues whereas recent $600m Star Int. deal could give revenue in 2 months.
4) Fewer worries about cash raised recently being put into overly large projects & then needing yet more listings!

When GME gets profits of 30M plus, then may be the time for more ambitious stuff. Can always partner others in a 3 way jv if another competitor (say) needed staff/technical input.

All IMO

December 19, 2005 - 4:05 PM EST
Patriot Mechanical Handling Receives $3.28 Million Order From China-Based Dalian New Shipbuilding
Company Signs Memorandum of Understanding for Future Orders With Dalian and Expects Significant Growth in China Operations
Patriot Mechanical Handling Inc. (OTC: PMHH), a leading provider of mechanical handling solutions and services to the oil and gas industry, is pleased to announce that it has received an order from Dalian New Shipbuilding, based in Dalian, China. This is an expansion of an existing relationship with Dalian, which the company expects to continue to grow.

"This is a huge boost of confidence from an important customer in a very large, growing market," stated Paul Findlay, CEO of Patriot. "We expect to continue receiving orders from local and International customers doing business in China." He added, "This region is home to the fastest growing economies in the world. Patriot has now established itself as a player in Asia and we will continue to expand our network and dedicate resources to support growth."

The Dalian order calls for Patriot to deliver 4 CTUs (Conductor Tensioning Systems) on the new builds being purchased by Noble drilling, Seatankers, and COSL respectively. The order is valued at $3,286,000. Additional options are being considered by Dalian, which would increase the order amount accordingly. Patriot also obtained a Memorandum of Understanding (MOU) to supply Dalian with additional Subsea handling equipment over the next 12 months as needed.

About Patriot Mechanical Handling

Headquartered in Houston, Texas, USA, Patriot Mechanical Handling, Inc. (PMH) is a comprehensive engineering and product supplier for all mechanical handling solutions in the oil and gas industry. In addition to this, Patriot is a licensed representative for some of the finest & most well established brands in the lifting and mechanical handling business. Our success is based upon effectively meeting the customer's needs prior to, during and most importantly after the product has been delivered. Our personalized service is unrivaled. We frequently monitor the quality of our products to insure our customers' satisfaction, and offer equipment that is guaranteed safe for use and fit for purpose. More information is available by contacting the company directly. Information is available on the web at: http://www.patriotmh.com.

This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.

Source: Market Wire (December 19, 2005 - 4:05 PM EST)

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Looking much better ...