Offshore Hydrocarbon Mapping Share Discussion Threads

[bones30] 27/4/2010 11:26

The last placing was different GWR7 - it was shares in return for cheaper services (plus some cash).

This time it is shares in return for cold hard cash. The market has got this wrong.

[gwr7] 27/4/2010 11:13

I wouldn't say the situation is farcical. Perhaps unusual but even then we saw the same with the last placing above the share price.
In theory the valuation should move up with the extra cash but will that cash make money or is it Pratt's round again?

[bones30] 27/4/2010 10:17

Thanks Robson - will take a look.

[robson1974] 27/4/2010 10:17

no, i'm busy this week, was hoping to go to the afc investor day but going to miss that as well

afc well worth a look for high risk punters in this :-D

[bones30] 27/4/2010 10:11

The fact you cannot buy within the spread and you can sell well within it is telling.
I also note yesterday's drop was on precious little volume, so I'm guessing today's is the same.

They are trying to gather shares ready for tomorrow.

Robson - you off to the EGM tomorrow?

[robson1974] 27/4/2010 10:08

it is farcical

if a company has 100m shares and is valued at 5p i.e. £5m

and then issues 100m at a premium at say 10p...

then it has 200m shares in issue and if it is still 'PRICED' at 5p it is now 'valued' at £10m but has £10m in cash !

that sort of anomalous situation really can not persist for long

[bones30] 27/4/2010 10:00

Looking to me like they are scaring people into selling before the EGM tomorrow. If the placing is agreed there then a large number of shares will be issued priced significantly ABOVE the current price. Silly really. These should be 16p+ currently in line with the placing.

Typical AIM/MM shenanigans.

Broker target: 33p!

[fountains] 26/4/2010 14:16

all moving to KEA

[bones30] 26/4/2010 12:53

Down on not a lot of volume.

[bones30] 23/4/2010 12:36

Looks like someone paid 13.25p for 75k on PLUS (.25p premium).

[gwr7] 22/4/2010 15:31

As long as it keeps you occupied bones.

[bones30] 22/4/2010 11:24

GWR: you are coming across as though you have a vested interest in convincing others to be negative about this share. I question your motives posting on this board.

[comedy] 22/4/2010 11:23

keep it up:)

[gwr7] 22/4/2010 11:15

Good in parts but there's an overall subdued tone compared to previous Pratt statements. Maybe he's lost his mojo, or else Sector Asset Management are as sharp as he says they are and he's half a mind on where he left his coat.

[camy] 22/4/2010 08:45

Pity some people didn't sell this morning. Without sellers it was only possible to buy a paltry 5000 on the markdown.

[bones30] 22/4/2010 08:26

Noticed first thing you could sell for 11.9p when the spread was 11/12.

They are trying to panic people out.

[comedy] 22/4/2010 08:25

bones 30 this going to placing price...the mm's willplay but roll on month or two and we will be higher...also hopefully by then get another contract news...plsu key date is the vote. happy to hold and wait.

[bones30] 22/4/2010 07:58

Says it all: one off impairment in return for lower costs in the future (we already knew that), improving order book, clients paying more money for their services.

If anything these are better than I was anticipating.

[robson1974] 22/4/2010 07:14

yes , reads very well...

Bid levels, particularly for our marine CSEM services, are substantially higher than this time last year. We have recently been awarded several CSEM acquisition projects in the Asia Pacific market, with additional awards in the North Sea. Some of these projects have been won in competitive tender and this success underlines the competiveness of our new cost structure and the value of our WISE integration capabilities. Other projects have been directly awarded by discerning clients who are becoming more and more sophisticated in their understanding of the issues and value of CSEM data. We now have three CSEM acquisition projects in backlog, and expect to add more as the year progresses. Although at present we remain cautious on financial performance, successful execution of these projects should drive improved revenues in our second half year and the upward trends we are observing in planned CSEM work gives us growing confidence for the future,

[cmrfan] 22/4/2010 07:13

As expected (would have been at the low end of losses if it wasn't for the one-off impairment charge) but great forward statements look very strong for the resy of the year, time to buy more I think. It seems that all the revenue will be coming in soon on 3 projects

[robson1974] 21/4/2010 23:37

that has some truth to it but it is good some majors are prepared to spend $6m in one go on the imperfect buggy v1.1, just think what the industry herd will pay for it when they reckon it has 'proved' itself

[gwr7] 21/4/2010 22:00

We'll see. I think losses tomorrow will break the previous six month record for OHM. It seems to me that the company is still being run as an academic institute. The problem is that if you keep telling industry you're developing the next version of your kit, then the next, you can't blame industry for thinking the current version is still just a little bit you know what.

[cmrfan] 21/4/2010 20:24

Things are obviously turning things around. Losses continue to shrink with more and more larger orders coming on board. Look forward not back. THE LOSS IS ALREADY BUILT INTO THE PRICE.

The inst wouldn't have invested large amounts of money if the picture wasn't good. They have a long way to go to break even.

Whatever happens tomoz on losses they will have a very positive forward looking statement, which is all the market is really interested in.