Gulf Marine Services Share Discussion Threads

[csmwssk12hu] 14/12/2022 12:08

The new shares are just a punishment, they have to issue $10m of shares if they can’t raise $50m, it doesn’t pay any debt off, shareholders just lose $10m so what happens if they keep failing to raise the $50m to pay them off, more worryingly they needed to get someone in to work that out for them . Be very wary they may bite the bullet shock us and raise $50m at below half the so like they did last time.

[blusteradjuster] 14/12/2022 07:43

In that work, NIF’s laser fusion energy output — measured in megajoules, MJ — jumped by 2,500%, a sign of a significant physics breakthrough on the crucial problem of thermonuclear burn. This week’s announcement is an increase in fusion energy output, relative to laser energy input, from 70% in 2021 to 154% in 2022. This incremental, possibly incidental, progress toward thermonuclear burn is not a breakthrough.

The facility has, at last, achieved slightly more fusion output than laser input: ignition. On paper that is a major symbolic victory. In practice, it’s of little consequence. Here’s why.

The laser energy delivered to the target was 2.05 MJ, and the fusion output was likely about 3.15 MJ. According to multiple sources on NIF’s website, the input energy to the laser system is somewhere between 384 and 400 MJ. Consuming 400 MJ and producing 3.15 MJ is a net energy loss greater than 99%. For every single unit of fusion energy it produces, NIF burns at minimum 130 units of energy.

[catsick] 14/12/2022 07:21

10% max dilution at a 40% premium to current prices , that's bearable, better than selling new shares at current prices....

[blusteradjuster] 13/12/2022 23:02

In about 20 years time, that might be true.

[trident5] 13/12/2022 21:46

Cracking nuclear fusion - no need for oil and wind power. It's all over.

[gen_romer] 13/12/2022 21:31

So what happened today?

[trident5] 09/12/2022 13:03

Hmm, but there trading update back in January said that their day rates for 2022 were 10% up on 2021.

Looks like the market is still a hard place. Not much evidence so far that the new management team are delivering any more than those they ousted.

[loglorry1] 15/11/2022 17:34

It's the 6p warrants and worries over higher interest costs as rates rise.

[hpcg] 15/11/2022 16:21

I know, it is the lack of resolution that is, I think, putting investors off. There isn't a lot of other explanation when contracts have come in and oil support services are going gangbusters.

[catsick] 15/11/2022 13:18

The warrants issue is not a big deal, it is minimal dilution at above the current price, they will be making sufficient cash flow to keep the banks very happy, all these new contracts will make a refinance fairly easy

[hpcg] 15/11/2022 13:16

The board needs to get on with the raise or more likely warrant issue. Potential investors are clearly waiting on that and it is now holding the price back. I'd be happy with the equity raise so long as my rights are respected.

[catsick] 15/11/2022 11:02

At least another 70m usd on the backlog now which will be huge and lock in a good chunk of profit, also good to see rigs being put to work on wind farms which is just going to make the support vessel market tighter for longer

[gen_romer] 04/11/2022 13:40

shame this keeps sliding even with good news

[catsick] 04/11/2022 03:57

Yes its not a driller but the prices for service rigs do move in tandem with drill ships, they certainly earn a much higher ebitda margin than the drilling vessels at the moment, compared to highly leveraged transocean the gms shares should be around 13p at the moment, less geared noble as a comparison would have these shares over 20p which in a couple of years is where I think we will be

[hpcg] 03/11/2022 11:53

GMS isn't a driller, it provides accommodation rigs.

[catsick] 03/11/2022 11:35

They are paying the debt down very fast, at libor+300 its not a disaster and day rates are going to improve things at a much faster clip than the interest bill rising

[loglorry1] 03/11/2022 11:31

Their interets expense is going up fast. That's a big factor for them with so much debt even if they are repaying it down quickly. Plus the warrant overhang at 6p.

[catsick] 03/11/2022 11:12

The only negative in the interim results they got smacked on was the fall in the backlog, they have now probably added 140m usd of backlog in 3 months to put it at the highest level in years and the stock price doesn't care, compared to the larger drill companies like noble and transocean these shares are super cheap in a market that is clearly improving fast...

[trident5] 03/11/2022 09:06

Whoops - you're right; I missed that.

[clanger66] 03/11/2022 08:36

Hi trident, it did mention improved day rates.These contract awards, with improved day rates, equate to seventy-eight months of utilisation, significantly increasing the overall fleet backlog and secured revenue.Was towards the end of the announcement.

[gen_romer] 03/11/2022 08:36

"These contract awards, WITH IMPROVED DAY RATES, equate to seventy-eight months of utilisation, significantly increasing the overall fleet backlog and secured revenue."

clear enough?

[trident5] 03/11/2022 08:27

no mention of "improved day rates" - last two contract RNSs did mention that.

[gen_romer] 03/11/2022 08:12

Always been the case,and not sure why because other drillers give contract values.But 2023 guidance should give an idea to investors.

[marmar80] 03/11/2022 07:58

Yes, but no numbers given