Offshore Hydrocarbon Mapping Share Discussion Threads

[deanroberthunt] 02/3/2010 12:46

can they improve the order book and the bottom line before it gets diluted into oblivion via the begging bowl........or will the lack of sales activity prevent future funding..

who wants to throw good maoney after bad, especially when there's so many better opportunities out there??

its still on a knife edge this one...

[5magic] 02/3/2010 10:07

hows this one going robson. you told everyone it was a gift at 21p lol

[bones30] 02/3/2010 08:54

The majority of the trades today look like buys to me.

[nicd] 02/3/2010 08:51

thanks Tiv for giving some cheap shares, Shanta looks good but only if you bought in when the Directors were offered theirs in lieu of salary. Nice work for them.

[tivoliworldgaming] 02/3/2010 08:49

The way Shanta is going, I will top that by 0.5p to 5.5p to sell here.

[loverat] 02/3/2010 08:47

There's your beer money.

[bones30] 02/3/2010 08:46

Looking interesting.

[robson1974] 02/3/2010 08:34

if they need working capital to address these new opportunities...they should as they say 'attract' funding

"CSEM order backlog is building and in addition the Group currently has marine CSEM survey opportunities developing in India, China, West Africa and the North Sea."

[bones30] 02/3/2010 08:33

Fair enough. Good luck tivoli.

[tivoliworldgaming] 02/3/2010 08:31

Quite right bones, but will take about 6 months. For now 5p seems to be a good price to sell some, just to double it elsewhere. I will be back after I have doubled my money on Shanta Gold.

[bones30] 02/3/2010 08:29

The way I see it they are talking about the past. It was mostly known already how badly they've done. The market is forward-looking, and they talk about things in H2 2009 being a lot better.

Taking a step back, there does seem to be a lot more activity in the oil exploration sector. This should rub off on OHM moving forwards.

[loverat] 02/3/2010 08:29

I agree, things here will drift but it looked a good trading opportunity all the same. If you buy at 4p, sell at 5p that is beer money for the weekend.

[nicd] 02/3/2010 08:27

Not if they get the additional funding.

[camy] 02/3/2010 08:26

Ripe for a takeover ?

[tivoliworldgaming] 02/3/2010 08:24

Sold all mine for 5p first thing today. If these do go back up to 5p to sell, then more will bail out. Nice profit for those who got them at 3.5p, but it looks like bust within a year.

[nicd] 02/3/2010 08:24

I got the buy at 3.995, only 1k£ worth

[loverat] 02/3/2010 08:22

Oh well, several unsuccessful attempts to buy at 4p.

That was one hell of a mark down and will probably go right back up.

[humbugg] 02/3/2010 07:54

they look fu*ked to me. how on earth can the survive another year.

[nicd] 02/3/2010 07:50

Trading statement out, looks relatively positive to me but maybe I have rose tinted surveys

[robson1974] 02/3/2010 07:45

Current Trading and Prospects

Since 16 November 2009 when OHM reported its results for the 12 months ended 31 August 2009, it has continued to move forward in developing its business.



The Company's wholly owned Rock Solid Images subsidiary's reputation for delivering valuable reservoir insight continues to grow, although delays in receiving data from clients on contracts has temporarily held back revenues in the first half of the year. The Group is processing several large seismic inversion projects from the main players in West Africa and has recently been awarded its second project from the conjugate margin area of Latin America, considered to be an analogue for West Africa and hence potentially highly prospective.



The Group conducted its second full commercial reservoir appraisal survey using its WISE (Well Integration with Seismic and Electromagnetics) technology in December 2009 for a customer in West Africa. The survey was completed on time and data are currently being processed in the Group's Kuala Lumpur facility.



The level of bid activity for marine CSEM surveys is higher now than for the same period last year. This fact, coupled with the overall reduction in CSEM industry fleet size, is expected to lead to increased vessel utilisation for the Group over the coming months. CSEM order backlog is building and in addition the Group currently has marine CSEM survey opportunities developing in India, China, West Africa and the North Sea.



Funding

With a positive contribution from Rock Solid Images and our continuing focus on restraining overhead, the Group has reduced its dependence on CSEM income which has allowed it to continue to trade through some very difficult market conditions. As the market recovers, our focus will inevitably change from cost cutting to planning and building for future growth. Our growing order book and the pursuit of further CSEM opportunities as outlined above will increase our working capital requirements. With this in mind and the Group's ongoing requirement for additional capital through to cash flow breakeven, the Directors are examining options for attracting further funding into the business.



Stated Richard Cooper, Group CEO: "The Group's mission is to reduce our customers' risk in their search for hydrocarbons. We achieve this via the careful integration of surface geophysical data, primarily seismic, but also CSEM, using available well-data as ground-truth. Although it is disappointing that the CSEM part of business remains depressed, we are committed to the long term development of this technology and are encouraged with the progress we have made to date in developing the necessary integration tools and workflows. Seismic and CSEM methods are playing an increasingly important role in reservoir appraisal, in addition to their traditional place as exploration tools. OHM is uniquely positioned to benefit from this trend as this market matures over the coming years."

[robson1974] 02/3/2010 07:39

Sounding cautiously optimistic in places, the funding will be interesting. Would not discount an industry partner getting involved and they might just think they might as well take the whole company at this valuation !

[robson1974] 26/2/2010 12:47

BE
What's on your mind?
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diamonds
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big diamonds
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the size of an egg
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talking about Petra Diamonds
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which has sold the Cullinan Heritage diamond
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today for....
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$35m
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apparently
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that's $10m above expectations
Petra Diamonds (PDL:LSE): Last: 61.00, up 2.25 (+3.83%), High: 62.00, Low: 59.50, Volume: 853.37k
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now
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the reason the shares have not moved too much
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is there is still a big overhang in Petra
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related to Saad
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which has its stock at lehman
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who rehypothecated the stock
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and no one now knows where it is
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apparently someone is trying to sort the mess out
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and place the stock
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but until they do
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anyway