Getech Share Discussion Threads

[discodave4] 04/11/2015 14:52

DiscoDave4 - 07 Aug 2015 - 20:04 - 1262 of 1339 - 0Hi, not invested but inclined too, but need some confirmation on the "three" contracts that they anticipate will provide additional income for 2015/16:-1) Sonangol $5m - RNS Sept 14 stated "The work is due to start immediately and the Company anticipates that most of the income will be recognised in the current financial year." How much remains for FY 2015/16?2) Umbrella Contract - RNS Nov 2014 stated "Getech.....announces a three-year extension to an existing umbrella contract with a well-known National Oil Company. This contract is with a long standing client and provides a three-year extension to the previous, annually renewable, contract." So possibly not providing any significant additional income for FY 2015/16?.3) One of three tendering Contractors - RNS Apr 2015 stated "Getech has progressed successfully through an extended tender process and the NOC has now confirmed that Getech is one of three companies contracted to provide basin evaluation services." So still not in the bag for FY 2015/16.ThanksDDDid ask some time ago, perhaps someone can enlighten me.My guess is the answer to all three questions are: not much for 15/16 hence the sudden profit warning.Still strong balance sheet and still keeping on my watchlist.BB - Dummy (in more ways than one) and Pram spring to mind CRETIN.GLDD

[cockerhoop] 04/11/2015 14:51

You've yet to highlight the level of deferred income DD4?

[bookbroker] 04/11/2015 14:47

Just shows how bloody stupid u r if u believe WHI., they hadn't a friggin clue about their estimates, so why believe them now!

[discodave4] 04/11/2015 14:34

BBNet cash is £3.7m max. Less once deferred income unwinds.Don't cry BB.DD

[discodave4] 04/11/2015 14:31

Net tangible asset value per share is 15p.WHI forecast eps 1.7pTP 17pGLDD

[cockerhoop] 04/11/2015 14:12

DD4,

As per my question in 1329

Do you have evidence in the results for your statement in relation to GTC?

'Using clients cash for services not yet delivered as a means of beefing up cash position is misleading.'

I agree the net cash figure is £3.7m with approx £1m of borrowing (secured against freehold) to be repaid over the next 4 years. In addition there is the £980K (reduced from expected £1.55m) contingent consideration which may have to be paid depending on performance of ERCL.

[discodave4] 04/11/2015 13:43

Ps£3.7m at best.DD

[discodave4] 04/11/2015 13:41

BBNet cash is more like £3.7m. They have new borrowings of £1m.net tangible asset value per share is 15p. Assume you cannot do basic arithmetic as seem unable to confirm what it is.DD

[rcturner2] 04/11/2015 12:37

bb, they need the listing to issue shares, re the acquisition for example.

[bookbroker] 04/11/2015 12:26

This co. is better of in private hands it would appear, small cos. with niche offerings really do not need the scrutiny of the stock market, it's whether the board and major shareholders would support this, they've seen their holdings take a hammering, would this not be a sensible move!

[bookbroker] 04/11/2015 10:26

I have another holding in Thal., but I am more comfortable to know that these two cos. have sufficient cash to see through this downturn in exploration, as long as the management are acutely aware that preservation is the watchword, that I am confident off rather than chasing business that is simply not beneficial to the bottom line, nonetheless if you are going to participate, then what is the point in being in business, both cos. have experienced managers who understand the ebbs and flows in what is becoming as about as challenging an environment that they can possibly remember!

[bookbroker] 04/11/2015 10:12

The net cash position is £4.7mln., the trade and other receivables are invoices that have been billed to customers at year end were £4.25mln. payables at £4.65mln., if you assign no value to ERCL, then fair enough the NAV will be far lower than the current share price alongside and likewise no value to Globe,etc, which would be writing off all goodwill and intangibles, but that would not be a fair representation of GTC. Admittedly they issued a large number of new shares to purchase ERCL, which would reduce the NAV., however it comes back to the valuation they placed on the purchase price at the time, maybe they overpaid, time will tell!

[cockerhoop] 04/11/2015 09:51

DD4,

Can you point out where you've seen the increases in 'Accruals and deferred income' that you allude to as I can only see 'Trade and Other Payables' on the liabilities side and was waiting for the AR to clarify?

[discodave4] 04/11/2015 08:54

bookbroker - 09 Oct 2015 - 11:12 - 1276 of 1327 - 0"if cutting back on staff is necessary then so be it...."

[bookbroker] 04/11/2015 08:30

I think you are correct in the PR., however it's all about spin with every co., we assume that the sector is weighed down by cutbacks in expenditure, but the element of receivables is what you should appreciate, we are talking about NOC's, so they should be accounted for, I discard intangibles as a means to rate a cos. net worth, but much is based on conjecture and how the market sees this, otherwise they would be laying off staff to conserve capital!

[discodave4] 04/11/2015 08:23

Net INTANGIBLE asset value per share?, give you a clue, it starts with one and ends with 5.August everything rosey, Nov profit warning. Misleading / poor management.GLDD

[bookbroker] 04/11/2015 08:11

Intangibles relate to the ERCL takeover, on the basis of earn-outs, these will not be enacted unless performance criteria met, nonetheless it is purely a carry value, however if the acquisition is to earn its bacon they will be recorded, but the value is in the advice, like many service businesses, I still believe that the oil and gas business is going through a structural weak patch, but Getech has a significant and vital product!

[discodave4] 04/11/2015 08:07

BBSuggest you find out yourself how to derive net tangible asset value.You clearly haven't a clue - take a look at how they have increased profits on the accounts, take a look at how goodwill and intangible assets have increased!.Good luck. Pity you do not have the ability to take on board an opposing but factual view of your investment.DD

[bookbroker] 04/11/2015 05:52

As WHI hadn't a clue on the forecast for 2016, they are not in a position to make any forecast, bunch of amateurs!

[discodave4] 03/11/2015 22:35

Net tangible asset value per share 15pWHI forecast eps 1.7pSay PE of 10, TP 17pDD

[bookbroker] 03/11/2015 21:30

One must remember that this co. is currently valued now at net assets, poor outlook or not, this co. is undervalued!