Capital Share Discussion Threads

[rivaldo] 26/10/2016 07:16

Excellent Q3 trading update just out:



In particular trading has got even better in October with utilisation up to 48%, and a very positive and optimistic outlook going forward.

Perhaps new recent highs coming soon if all goes well.

[gleach23] 20/10/2016 20:51

can't be bad then - well done :)

[spob] 20/10/2016 16:36

i'll take that kind of luck every day of the week :)

130% capital gain and dividends on top

[gleach23] 20/10/2016 15:02

unlucky spob - if the weakness continues you may have a chance of nipping back in ahead of a Q3 update which I think must be due next week

[spob] 20/10/2016 08:50

my profit protection stop loss triggered this morning

had a good run here

[rivaldo] 28/9/2016 11:34

This has to be good news overall. The reason for this move will simply be liquidity - there's no way anyone could sell that many shares in the market. The institutional investors must have been very keen, and as WJ says the directors still have a very large holding here.

Give the way these things work it wouldn't surprise me to see some contract win news at some point later this year.

[valhamos] 28/9/2016 10:44

One always thinks in these situations that there must be an underlying reason for the directors reducing their stake which means the share price is unlikely to increase in the short term. However I believe the last time there was a director placing/sale was when CAPD came to the market in 2010. The price was 61.5p and it proceeded to rise in the following year to over 100p.

[basem1] 28/9/2016 09:19

It's a positive in my opinion and if I get chance of any at 48p I'll take them.

[rhomboid] 28/9/2016 09:12

The money is going to the directors and founder shareholders, so only benefit to other shareholders is increased liquidity but I'm curious as to why now

[gleach23] 28/9/2016 09:09

Hopefully jch18...at least it's not much of a discount.

Edit - thanks WJ. Nothing particularly negative for existing shareholders then? A chance for directors to cash in some of their stake (negative) but this is picked up by institutional demand (positive)

[wjccghcc] 28/9/2016 09:05

It's a secondary placing, the funds are going to the directors, not the company.

The directors currently own 60% which will drop to 43% so it's not as if they won't still have skin in the game, and increasing the institutional shareholder base can only be a good thing.

[jch18] 28/9/2016 08:45

Placing at 48p for 18.5% of company. Institutional demand. Some of the shares are being used to increase liquidity, which is no bad thing. The £12m raised will obviously strengthen the balance sheet further. For a company that has run its finances so well, one hopes that the funds are used prudently.

[gleach23] 22/9/2016 11:01

Great to see renewed buying interest after consolidating at this higher level

[rivaldo] 20/9/2016 14:07

Nice - Finncap have today increased their target price here to 70p (from 50p):

[rivaldo] 20/9/2016 11:45

Good contract win news today, offsetting the Mauritanian slowdown:



The CEO's comments add further encouragement:

""This new exploration contract is another positive win for our company and provides further encouragement that a sustained cyclical upswing in the drilling services sector is underway. This will translate into a further improvement in the utilisation rate of our exploration fleet, as well as further expansion of our operations in East Africa, both of which are in line with our growth strategy."

"We remain confident that our competitive operational model, together with our strong financial position, will allow us to continue to pursue growth opportunities in this improving market."

[gleach23] 11/9/2016 13:31

More chunky late trades reported on Friday - most look like buys to me altho not sure about the 200k

[rhomboid] 07/9/2016 12:14

I'm not sure why there's a sudden flurry of interest as the move is way bigger than the ex divi effect for tomorrow, this still looks a very neat play on rising gold prices without the single co. Gold miner risk or indeed Russia or South Africa political and currency exposure.

[gleach23] 07/9/2016 12:10

I reckon all trades have been buys so far today rivaldo, with the exception of the 7k @ 50.75.

Looking very good.

[rivaldo] 07/9/2016 12:02

More buying today - pretty sure the 50k at 49p was an early buy too.

[gleach23] 06/9/2016 20:40

couple of nice late trades reported today - look like buys of 21k and 25k :)

[deanowls] 22/8/2016 13:54

a stock paying 8% divi and generating a large amount of FCF, look at the amount of debt payed down whilst they were on their knees, read what they have done to keep costs down, i wish all of my investments were just breaking even!

[gleach23] 22/8/2016 13:47

Resilient performance during downturn, improving momentum and outlook do it for me cyberbub.

Historically this is one of my most profitable stocks - hoping it stays that way :)

[cyberbub] 22/8/2016 13:21

£75M market for a company that is still barely breaking even? What's the investment case here - hoping that utilisation rates start ramping up dramatically? Thanks.

[gleach23] 22/8/2016 12:54

Always nice when that happens - noticed there weren't many shares on offer so topped up with 7.5k which seemed to trigger a couple of 10k buys and a subsequent nudge up in the offer.

Good medium term hold imo.

[rhomboid] 17/8/2016 16:32

Really informative presentation, if explo drilling restarts in earnest , given the unutilised rigs , earnings will rise very strongly indeed.