Amedeo Res Share Discussion Threads

[cottoner] 27/6/2014 17:43

Hayward Tyler, Amedeo Resources, MoPowered and Tyratech at next forum
By Proactive Investors June 27 2014, 5:00pm

(Part of article relating to AMED follows)


Amedeo Resources (LON:AMED) has hit the ground running.

In little more than 18 months, chief executive Glen Lau and executive director Zafar Karim have transformed essentially a cash shell into one of the most exciting investments on AIM.

Lau's book of contacts has been vital to creating a rig building partnership with Yangzijiang, China's largest privately controlled shipbuilder, with Amedeo owning an 18.6% indirect stake in the YZJOE offshore venture.

Orders here are large and lead times long, but business has been flowing towards YZJOE of late.

In February, it confirmed talks are underway on a contract to build four semi-submersible drilling platforms with a total value of US$1.7bn.

Yard completion, meanwhile, is ahead of schedule and its first rig order, the US$175mln 350ft Le Tourneau Super Enhanced 116e, is making good progress.

Joining us to update on developments at YZJOE and also metals trading arm MGR will be executive director, Zafar Karim.

[howdlep] 27/6/2014 15:10

free float only 19.24% so will obviously move very quickly with news:-

[howdlep] 27/6/2014 15:03

interest building. I am looking for a break of 1.1p and expect then a real pickup in volume and momentum

[howdlep] 27/6/2014 14:59

I suspect the results will follow the RNS of the successful completion, on time and on budget, of the new rig yard, scheduled for the middle of 2014.
When this news breaks, I suspect a rapid re rating of the stock, given the very low free float. Extracts follow from:-

-----

the RNS dated 22 April 2014:-

("Amedeo" or the "Company")

Lays Keel on 350ft Le Tourneau "Super Enhanced 116e"

Amedeo, the resource and resource infrastructure and asset investment company, is pleased to announce that, further to the Company's announcements on 23 October 2013 and 23 January 2014, the keel of its first rig order, the 350ft Le Tourneau Super Enhanced 116e ("Le Tourneau Super Enhanced 116e"), has been laid on schedule.

This is a significant step in the construction of the Le Tourneau Super Enhanced 116e which involved constructing the 500 tonne hull and placing it on the skidway of the Jiangsu Yangzijiang Offshore Engineering Co. Ltd. ("YZJOE") new rig yard in Taicang ("New Rig Yard"), about 60km north west of Shanghai. Amedeo has an indirect 18.6% stake in YZJOE.

The laying of the keel, on schedule, demonstrates YZJOE's ability to construct rigs on schedule and that the New Rig Yard is now operational. In addition, the New Rig Yard's completion is on schedule for the middle of this year.

Ramlan Ahmad, Executive Director of Explorer 1 Limited ("Explorer 1"), the customer for the Le Tourneau Super Enhanced 116e said:

"We are impressed by the dedication and professionalism shown by YZJOE and how the build of its first rig, our Le Tourneau Super Enhanced 116e is progressing to quality and to schedule. YZJOE's welding, painting and finish are impressive. In addition, YZJOE's ability to crank out steel in accordance with the drawings vetted by our management team is most impressive. Typically, first time builders of complex drilling machines such as our Le Tourneau Super Enhanced 116e face difficulties. With progress on schedule and to quality thus far, we are confident that YZJOE will deliver our rig on schedule and to quality."

Glen Lau, Chief Executive Officer of Amedeo, said:

"We are delighted with YZJOE's progress on its first rig order and with its progress in constructing the New Rig Yard which is now operational. The Le Tourneau Super Enhanced 116e is on schedule to be delivered to quality and on time. The New Rig Yard is already operational and due to be completed in the middle of this year. Explorer 1 is pleased with the progress and build of its order, and new prospective clients have and are able to tour our facilities and see our work."

-----

Beaufort buy note on that RNS, dated 22 April 2014

The Company today announced the keel of its first rig order, the 350ft Le Tourneau Super Enhanced 116e ("Le Tourneau Super Enhanced 116e"), has been laid on schedule. The laying of the keel, on schedule, demonstrates YZJOE's ability to construct rigs on schedule and that the New Rig Yard is now operational. In addition, the New Rig Yard's completion is on schedule for the middle of this year. It is excellent news that the keel has been laid on the first rig order. Amedeo has continued to execute on its promises. We have every confidence in Amedeo and its management to continue to fulfil its commitment to grow the company and continue to develop its portfolio. We retain our Speculative Buy. -

-----

and of course the Beaufort buy note back in March after the successful raising of funds at 1p:-


Amedeo Resources has progressed on both the offshore infrastructure business and at MGR Resources, with further progress anticipated at the latter. The proposed second order at YZJOE, with options, to a value of $1.7bn gives validation to the work at YZJOE on its initial order. It is worth noting that the client of the initial order has increased the specification. Further, the subscription by 'Mena', the Malaysian based fund also gives comfort to Amedeo's strategy. SPECULATIVE BUY

[genises] 26/6/2014 23:14

Results should be good with the strength of the pound!!
Looks as if they are waiting on certain news to be released with the results.
More contracts would be nice for those that are in.

[deepvalueinvestor] 26/6/2014 19:24

That's great news! Can someone report back? I saw them present recently and expect renewed interest when the results finally come out. Also a holder of Tyratech that looks interesting despite the dip after results today.

[aim_trader] 26/6/2014 15:06

The directors of TyraTech Inc. (AIM: TYR), MoPowered Group (AIM: MPOW), Amedeo Resources PLC (AIM: AMED) and Hayward Tyler (AIM: HAYT) will be presenting on
Thursday the 3rd July 2014
REGISTER HERE:

[deepvalueinvestor] 23/6/2014 20:03

I spoke to them during the China conference. They can't dictate the timing of results for the companies they own. Results will be soon but not entirely relevant anyway. I am a buyer for next years results!

[ultrapunch] 23/6/2014 13:46

I got rid of all my AMED shares (I never had many. It was just a punt) last week at a small overall loss. In my experience delays in releasing news invariably means the news, when it is announced, is worse than expected. In my experience companies rush to issue good news and tend to sit on bad news for as long as possible.

GENISES was predicting in May that the results would be issued within a week, yet here we are near the end of June and still no results!!

[davethechef] 20/6/2014 11:38

Results WILL be next week, by the end of next week.

[uncle john] 20/6/2014 11:33

After spending time on the website, I think matey could have done a better presentation.

Client for the rig:- Is it an associate company to the major shareholder? It looks like AMED is their construction arm:
Can anyone help me on this?

[rbayes] 20/6/2014 10:29

I'm hoping to see results July time going on previous years

[sirraman] 20/6/2014 09:15

when is the next dividend expected from MGR .. and the results ??

[uncle john] 19/6/2014 22:11

'Evenin All!
I listened to a rather quiet presentation by AMED at the Daniel Stewart China conference. Which was like the curate's egg and AiM - good in parts!
Low number of shares in free float is a real problem for me. I was a little hard on the man about his control of the yard and rig building. For instance is there enough engineering expertise to keep the contractors to financial and technical disciplines?
It seems to have morphed into an engineering company and does not have capital to invest in another similar sized project. Most of eggs in one basket! Over coffee I was more or less reassured when an existing investor joined the conversation.
I may invest, but would like to hear opinions from other attendees, Someone on the CTEK thread said they would post.

[deepvalueinvestor] 14/6/2014 07:36

With the conference on Wednesday, I assume results early next week.

[mike111d] 11/6/2014 13:15

By definition would they not be more down than up :-)

[ultrapunch] 11/6/2014 13:13

This is up and down more often than a tart's drawers! lol.

[oilbuy] 09/6/2014 22:13

Chart looking very nice.

[bigoffice] 09/6/2014 21:11

News tomorrow?

[oilbuy] 09/6/2014 20:55

113mike, they should be very good !!!

[113mike] 09/6/2014 20:45

From an rns released last Jan.. "Full year results are expected to be released in early May"So should be anytime now! imhoMaybe they're gonna be good?

[deepvalueinvestor] 09/6/2014 19:10

Well they were happy to let me have 4m shares on Friday at 0.89p but I had to pay up for another 2m today. Looking forward to the conference on the 18th, is anyone else going?

[makday] 09/6/2014 17:20

Only certain people Rbayes! they get up my wick!

[rbayes] 09/6/2014 16:40

Makday - Just having a go at everyone today... You need to relax a little