Offshore Hydrocarbon Mapping Share Discussion Threads

[5magic] 29/3/2010 12:20

robson comes with a wealth warning, he said cdn would get a bid a 200p, lol, then ramped ohm at 20p, then said desire was a multibagger when it was a quid lol

[mr macgregor] 29/3/2010 10:40

Good news, I was beginning to get nervous.
Robson is right about RKH, Ernest had CSEM, Sea Lion did not. Next on drilling list with CSEM probably Toroa for FOGL.

[jungle jim] 29/3/2010 10:25

ninalog - 29 Mar'10 - 07:50 - 1423 of 1430

lol! Here's your chance to get out on any spike. One thing winning a contract but as JRVS shareholders have just found out, when you're strapped for cash the rug can be pulled at anytime.

I wondered who would be first to compare this with JRVS. Slight difference Nina is that here it is not the banks who are the lenders, it is the the major shareholders.

[robson1974] 29/3/2010 08:59

DES ran no CSEM which is why i was bearish on them.

[acm434] 29/3/2010 08:58

DES ran a (drunk) man in a rubber dinghy with two divining rods.

[bones30] 29/3/2010 08:54

Did DES run CSEM?

[robson1974] 29/3/2010 08:44

bones RKH did CSEM on Ernest which they will drill later in the campaign, the next one is Sea Lion which i understand they did not run CSEM over

[humbugg] 29/3/2010 08:41

bones,
hope they have more success than DES?

[bones30] 29/3/2010 08:06

This is really great news for OHM.

Good to see the Indians and Chinese are interested in OHM's products.

I understand Rockhopper are next to drill in the Falklands. They used OHM, so hoping they have some success and it rubs off on OHM.

[ninalog] 29/3/2010 07:50

lol! Here's your chance to get out on any spike. One thing winning a contract but as JRVS shareholders have just found out, when you're strapped for cash the rug can be pulled at anytime. Newbies be warned, ramperrobson has a shocking record around advfn.

[niellyg] 29/3/2010 07:41

great vote of confidence following the trading statement - lets hope a few more radars pick this up today

[wattzy] 29/3/2010 07:40

As Robson says, big contract compared to mkt cap. A few more of those and were laughing.

[leedskier] 29/3/2010 07:39

This could certainly move today.

[robson1974] 29/3/2010 07:18

Excellent news. £3m market cap and they announce a single contract worth more than the entire market cap !

[robson1974] 29/3/2010 07:17

PRESS RELEASE

29 March 2010

Offshore Hydrocarbon Mapping plc ("OHM")

Award of Marine CSEM contracts for customers in India; combined value approximately US$ 6 million

Offshore Hydrocarbon Mapping plc (AIM:OHM), is pleased to announce that it has been awarded two contracts for the supply of marine electromagnetic surveys for clients in India, with a combined value of approximately US$6 million. The OHM Leader, a state-of-the-art vessel for conducting safe and reliable CSEM operations, is currently being mobilised for the surveys with the first due to start in April.

Richard Cooper, Chief Executive Officer of Offshore Hydrocarbon Mapping commented:

"This will be the first deployment in India for OHM's unique WISE product which integrates CSEM with a range of other geophysical data. Our clients for these surveys are experienced and sophisticated CSEM users and our leading capabilities in such data integration were a major factor in their decision to choose OHM for this work.

OHM has pioneered the use of CSEM within an integrated seismic interpretation framework using our WISE products; as a result we are seeing renewed interest in using CSEM for both exploration and exploitation applications."

[gwr7] 26/3/2010 09:07

Would you be rushing to pay OHM for their service? Certainly not until the job is completed. Given overheads and the interest payment they may only have two months worth of cash and no other funding arrangements in place (though they say they are looking, they've already pawned the company to the majority shareholders).

I was astounded to read that Rock Solid Images made a £1m loss last year (note 4 to the accounts). That's not the impression I had from various RSIs including East Africa hype. Having doubled the losses of RSI since purchase in 2007, your directors would appear to be conducting alchemy in reverse.

[bones30] 25/3/2010 20:26

nina - not sure why you are posting here.

[ninalog] 25/3/2010 19:49

where's chief ramper robandsons????!!!!

I warned you all.

nina

[noexpert] 20/3/2010 02:47

I maybe no expert but where is the evidence of an increasing order book? and why is the share sinking faster than one of their tungsten carbon drills?

[bones30] 16/3/2010 12:51

Oversold, by miles.

[jungle jim] 14/3/2010 09:26

With the full $2M drawn down, interest due is around $165,000. With an increasing order book, which I would have thought would be generating some cash by now, I can't see this being a show stopper.

[gwr7] 09/3/2010 11:03

First payment on Floating Charge due end of this month:

"The interest rate is set at 5% above US prime (which is currently 3.25%) and is payable by OHM to the Lenders quarterly in arrears commencing on 31st March 2010 and quarterly thereafter on 30th June, 30th September and 31 December."

[bones30] 08/3/2010 13:16

rhubarbe: this is worth a lot more than the 3.8m market cap.

[rhubarbe] 08/3/2010 12:46

Soon be worth -2p this. LOL!!!

What a complete dog of a share.