Amedeo Res Share Discussion Threads

[oilbuy] 14/12/2016 10:20

A few years ago we were at 28M market cap. We have come a long way since then.

[oilbuy] 14/12/2016 10:19

Yep agreed. It can multibag from him.

[oilbuy] 14/12/2016 10:19

Paying over now.

[howdlep] 14/12/2016 10:19

First premium buy. A sign of what is to come

[howdlep] 14/12/2016 10:15

Indeed. In the meantime, can we have a seller or two to help those mm's with buy orders. One day, with an RNS, they will have to really let this go!

[cpap man] 14/12/2016 08:40

MM's don't you just love 'em?!?!?

[howdlep] 14/12/2016 08:23

Any market maker want to make a market?

[howdlep] 14/12/2016 08:06

very difficult to buy online. Buy limit 3000, so premium likely for greater size

[howdlep] 14/12/2016 07:38

For those reading this thread for the first time, yesterday's press confirmation that the Explorer 1 jack-up rig will be delivered on schedule, is the news holders have been waiting for.

See

[howdlep] 13/12/2016 22:45

Because pi's have been waiting for confirmation of that delivery. That article will ensure the re rating begins tomorrow. As with management, whose latest warrants were set at 100p (equivalent post 100:1 consolidation), I am looking for similar return in due course.

Try and get a decent line of stock in the morning. It's going to be premium trades and lots of them.

[113mike] 13/12/2016 22:29

Why tomorrow? Why not next week or the week after? etc

[howdlep] 13/12/2016 22:19

Time for that re rate tomorrow


free stock charts from uk.advfn.com

[howdlep] 13/12/2016 22:03

For those picking up on the article in post 175, here is a little background research re Amedeo Resources plans for the future:-

Here is the Proactive Investor interview with Glen Lau, dated 3 November 2014. It clearly emphasizes the global offshore opportunity and how Amedeo Resources, via the JV, are looking to build a multi year, multi revenue order book. However, whilst Mr Lau talks about big ticket items, the lack of too many competitors and being able to attract the right skillset, from Singapore and Europe, he is very clear about the need to deliver this first order to the highest quality. That will allow the JV to increase marketing and win further big orders.



Another interview of importance, was the one dated 3 November 2014. This talked of Amedeo Resources plans to rival the world's biggest rig builders.




Today's confirmation that the Explorer 1 jack-up rig will be delivered on schedule, is a huge milestone for the company.

[howdlep] 13/12/2016 17:19

Quality will prevail in 2017, as yards close or lose orders. That will place AMED, via its 19% indirect stake in YZJ Offshore, in a great position to attract future orders. Of course, AMED could sell their share of the yard and/or make an acquisition.

As for MGR, I will be very interested to see how they have benefitted from the rise in commodity prices.





Given the imminent delivery of the Explorer-1 rig, a share price of 50p (more on confirmation) could be achievable in the very near future. That is why it is again worth pointing out that the top 4 shareholders, whose percentages have remained static, account for 81% of the shares. That ensures that movements in price, both ways, can be very quick indeed.



Shares in issue: 32,653,843

Top 4 shareholders:

Qatar Investments Corporation (61.09%)
Mena Global Investments (9.20%)
Global Tech Investments PTE Ltd (5.28%)
Dune Engineering (5.19%)

N.B. Qatar Investment Corporation is a wholly-owned investment vehicle of Mr Ghanim Al Saad, Non-Executive Chairman of the Company.

Of those 4, Qatar and Global make up the 66.37% classed as not being in the publics hands. However, both Mena and Dune have remained static for a long time.

So let us suppose that rig delivery RNS is released, or an anquisition RNS or even better still, a new rig/vessel contract, What does that mean in relation to the available shares to be traded?

Well let us exclude those top 4 shareholders. That would mean only

32,653,843 x 19.24% available = 6,282,599 shares

The share price would immediately gap up by a multiple on a new contract and then with almost every trade imo.

Even if we only exclude Qatar and Global Tech that would mean only

32,653,843 x 33.63% available = 10,981,487

Well worth considering holding now before any company transforming RNS and that huge gap up imo.

[howdlep] 13/12/2016 16:27

Explorer 1 to be delivered on schedule. Time for a big re rate:-





Image: Photo of Yangzijiang yard



YZJ Offshore Engineering, a subsidiary of Singapore-listed Chinese shipbuilder Yangzijiang Shipbuilding, is expected to complete and deliver a jack-up drilling rig on schedule, bucking a trend that has seen rigs and drillships being deferred amid weak oil prices.

IHS Fairplay was informed that the rig, Explorer I, will be delivered to Mena Offshore Investments by year-end. Mena Offshore Investments was established to build, sell and lease drilling rigs.

Amedeo Resources, a UK company listed on the Alternate Investment Market (AIM), has a 47.5% interest in a joint venture with Yangzijiang Shipbuilding, which in turn have a 40% interest in YZJ Offshore. This gives Amedeo Resources an 19% indirect investment in the yard. The other shares of YZJ Offshore are held by Creon Resources Plc, which is also listed on AIM.

Philip Howdle, a shareholder of Amedeo Resources, told IHS Fairplay: “Obviously, over recent years, we have seen a real downturn in the demand for new rigs, due in no small part to the decline in oil prices. Hopefully, as that begins to increase, helped by the recent OPEC supply cut, the JV should be ideally placed to attract new global orders.”

The rig is capable of drilling to 30,000 feet in sea depths of up to 350 feet. Up to 120 people can be accommodated in the rig. Originally ordered for USD170 million in 2013, the rig was constructed after YZJ Offshore built a new yard. The order marked Yangzijiang's first rig contract.

IHS Fairplay was told that the rig will be delivered at the stated price.

In a recent earnings briefing, Amedeo Resources stated: “While the rig market in general may be oversupplied, YZJ Offshore’s first rig is a Le Tourneau Super 116 Enhanced Class self-elevating mobile offshore jack-up. The Le Tourneau is the most established design in the offshore world. It has a very popular footprint, i.e, its legs space dimension is one that has been used for many years and for many wells. Other rig designs don’t have this significant advantage.”

Le Tourneau was recently acquired by Keppel FELS, a unit of Singapore group Keppel Corporation.

Amedeo Resources said: “Moreover, in the current newbuild market, there’re no Le Tourneaus that have been built on speculation. All have been ordered for clients and by clients.”

[lynnton] 13/12/2016 15:46

Just An odd bod picking up £5k by the looks of it. We should get some news soon though for the rig delivery.

[cpap man] 13/12/2016 15:30

Yes and it's NOT my cuppa!

[lynnton] 13/12/2016 15:28

Something brewing ?

[howdlep] 09/12/2016 14:45

DaveTheChef,

I did do.

This can only be done after small drip sells. Now mm's only want sells to book a small profit. Hence why you cannot buy online. It will be premium buys only.

One day soon, we will have a rig delivery RNS, acquisition, new contract, journalist article or tipsheet recommendation. Then the mm's will really have to let the share price go, in order to find any sellers.

Just a little patience needed. A huge re rate is coming...

[davethechef] 09/12/2016 10:31

Howdlep,

There was your chance early today, to buy under 26p!

After that reasonably hefty buy, now you can buy 'tiddly-squat'!!!

But can sell hefty amounts at 24.55p.

Bounce coming?

[howdlep] 01/12/2016 13:21

Three sells above 26p, now let's see if the mm's drop the offer below 26p. I certainly hope they do.

Illiquid stocks create opportunities to sell at the highs and accumulate the dips...

[howdlep] 01/12/2016 10:01

Korean shipyard restructuring: what does it mean for offshore rig construction?



Well consolidation in the industry certainly bodes well for the profitable Chinese shipbuilders.

For those who do not realise, Yangzijiang Shipbuilding are our JV partner.

Delivery of the Explorer 1 jack-up rig is imminent.

[howdlep] 29/11/2016 11:42

A good sign. Hopefully, our 19% JV interest in YZJ Offshore will be rewarded with a new contract in the near term:-





Bangladesh can rank as one of Asia’s more aggressive shipping nations in terms of acquisitions in 2016.
While most of the deals have been done for secondhand tonnage, brokers report a rare tanker order. Bangladesh Shipping Corporation is behind a triple tanker order for handysize 39,000 dwt ships. The contract is with China’s largest private yard, Jiangsu New Yangzijiang, with each ship costing $28.5m and all three set to deliver in 2018.

Bangladesh shipping companies have been very adept at tapping Chinese banks for finance in recent years to build up their fleets.

In other tanker ordering news elsewhere, Azerbaijan Caspian Shipping Company has come in for a pair of small 8,000 dwt tankers which will be built at Baku Shipyard, also for 2018 delivery. No price has been revealed.

[howdlep] 28/11/2016 10:56

Hot stock: Yangzijiang up 6.83% to S$0.86

Bodes well for our JV. As has been said before, quality will prevail in 2017.

[howdlep] 28/11/2016 10:45

although there are some management warrants at 50p, it was good to see the latest (2.6m) were awarded (13/3/15) at 100p (adjusted for 100:1 consolidation undertaken 30/6/15. The original award, pre consolidation, was 260m @ 1p):-

"The Company's policy is to align directors' interests with those of shareholders by remunerating primarily with performance related equity instruments while keeping cash remuneration low."