Engage Xr Share Discussion Threads

[spirie] 05/3/2008 12:13

Plunging again this morning, but beginning to pick up now. I was limited to 50 share trade online earlier this week as well, but today seems to have been lifted to 750, so potential to strike is there for part holding sale. Tempted to sell half my holding at 12 and wait and see if any statement is forthcoming.

1/2 the risk

[thamestrader] 05/3/2008 11:06

The wife spent it some time ago.

[nielsc] 05/3/2008 09:06

thamestrader,

What have you done with the money? Are you putting it into any other oil service company?

Cheers,
Niels

[thamestrader] 05/3/2008 08:56

I guess three things could happen:

(1) talks end, no agreement, shares drop back, but to nowhere near earlier levels.

(2) talks progress, board recommends approval of takeover, shares go to whatever the recommended price is, which could be much higher, or a little lower than now.

(3) it just goes quiet, bidder may/not be considering a better offer, other parties may/not also run the slide rule over the company, price stagnates, drifts down (as now).

I sold at 1266p on Monday, so I'm just an interested observer now.

[nielsc] 05/3/2008 08:52

Spirie,

Amazingly quite here. I'm not really sure how to read this. I held up to this price previously, but I was toying with the idea of selling half my holding, but idealing is limiting me to selling 50. I can't be bothered phoning them so I continue to hold all of them.

If other bidders appear then the price could go higher. We aren't even sure who EXR are in talks with at the moment. A firm bid could quite easily appear.

Cheers,
Niels

[spirie] 04/3/2008 15:53

any thoughs on a realistic takeover share offer price.
I have a small holding that I bought a year ago and can make decent profit on but don't want to jump the gun to early and see them jump up £1 the day after. After rising to £13 on Monday they are back to £11.99 today.

[thamestrader] 03/3/2008 08:48

You're right, BP is going through massive changes, and I think it has enough on its plate without deciding to make a huge decision to go into the well services business. Most operators that have had their own in-house "service companies" have gone to great lengths to get rid of them in recent years.

The big boys probably are looking at preying on one another, and certainly the biggest of the big boys (Schlumberger) could eat the smallest of the big boys for breakfast. Trouble is, they'd be made to sell most of the overlapping parts, so why bother? Major targets for the big boys are probably people like BJ Services and Expro (Schlumberger and Halliburton probably need these two companise less than Weatherford or Baker Hughes do).

Expro is pretty big on a global scale, and has a good range of services:
testing (which Halliburton, Baker Hughes, Weatherford do not have)
slickline (BH would like that, others already have it)
downhole gauges (the others have these, but good to eliminate a competitor)
underbalanced drilling (Weatherford do this, Expro may have aspects they need)
various other bits and bobs including the Aker thing above

[grgkecer] 02/3/2008 10:42

thamestrader

If Expro won't fit with Aker, the February 5th LOI is in trouble:
"The intent is to develop, subject to agreeing final terms, a global alliance relationship for all markets which will allow customers to procure the combined capabilities of Expro and Aker Oilfield Services in a seamless, integrated and fully aligned manner."

I mentioned BP because it is undergoing significant changes - with the current cost of oilfield services, operators might well decide it better to profit from them, than lose profit to them.

Is Expro big enough to satisfy the appetites of the "usual suspects" you mention? Wouldn't they rather be preying on one another?

What are the attractions of Expro to a private equity company?

[thamestrader] 01/3/2008 19:20

Which means my employer, once they eventually wake up, will need to pay £1.5b plus.

[leedskier] 01/3/2008 08:38

It is Candover a private equity firm...rumoured to be for £1.3b.

[thamestrader] 29/2/2008 23:53

BP? Why would BP, an operator, buy Expro, a service company? Don't think so.

If it's not private equity it'll be Schlumberger, Halliburton, Weatherford or Baker Hughes.

They don't "fit" with Wood Group or Aker.

They fit VERY nicely with my employer, and we should friggin' well get our wallet out (even if they have to lay me off one day a week to afford it) and go for it.

[grgkecer] 29/2/2008 16:09

Well, it is leap day.

[grgkecer] 29/2/2008 15:59

Apart from BP, the only UK possibility seems to be Wood Group, but I doubt whether they can afford it, so I guess Aker.

[thamestrader] 29/2/2008 15:42

That's OK, grgkecer, I can subsidise my lifestyle with the profits of my EXR shares for a while.

[grgkecer] 29/2/2008 15:20

Quite. I should hope for at least £15 . . . even if your employer has to reduce your salary to pay it.

[thamestrader] 29/2/2008 14:56

(duplicate post, sorry)

[thamestrader] 29/2/2008 14:56

Actually EXR's share price is no higher than it was four months ago when there were no takeover talks in the offing.

[thamestrader] 29/2/2008 13:33

Who? I'd like it to be my employer (enough said).

Takeout price? looks like the market thinks it's about twelve quid.

My employer can afford that. Whether they have the sense to make it happen is a different question.

[abcd1234] 29/2/2008 13:29

and the poss take out price might be?
ta

[thamestrader] 29/2/2008 12:53

Whoah!
Possible takeover offer?
Wonder who that is.

I know who I'd LIKE it to be.

[grgkecer] 08/2/2008 18:14

Mungo well gets Expro boost

Friday, February 8, 2008

[sludgesurfer] 24/1/2008 21:59

Yes, possibly. They have positioned themselves pretty well in the subsea market, focussing more on the deeperwater, high revenue services. My slight concern is the weight that they have given to developing their AX-S rigless intervention system. They have directed a huge proportion of their revenue into developing this, as yet unproven system. Bit of a gamble but potentially v lucrative. Like I say, I'll be back...