Offshore Hydrocarbon Mapping Share Discussion Threads

[jailbird] 30/11/2009 09:34

anyone any thoughts on Vialogy's tech - epic(VIY)


not a holder but their tech for finding oil reservoirs looks the bees knees.

I am not sure if is used after initial evaluation , say using OHM's tech.

Still believe another cash call is inevitable, however more contract news, may mean placing price could be better or may need less cash for the future

[bones30] 30/11/2009 09:16

Morning 8T...

Right, quick thought chaps. What do we think of the fact they haven't said who the customer is?

[21simthy] 30/11/2009 08:56

They are starting to get their act together.

Shame about the overhang but this gives a opportunity to get
size at a very low price of around 8p.

Downside is just 2 mm's but at least they have narrowed their
spread.

Without a seller it will trade closer to the placing price after
those contract wins, patience is needed, one large buyer turning
up and it could all change quickly.

[comedy] 30/11/2009 08:41

well nice rns...will wait till end of week to see if the mm's carry on with downward curve...will imply overhang still present...so patience will tell whether no overhang or using todays news to get afew more out before continuing to sell???

[robson1974] 30/11/2009 08:22

Interesting

i) "Oil companies we have been in contact with say EM-surveying definitely has a future and as the technology is constantly improving, there should only be a matter of time before the demand picks up."

ii) "If EM becomes fully adopted by the oil industry and EMGS maintains its leadership posi-ton, we view the company a highly likely takeover target. Given EM's complimentary char-acteristic with seismic, we view the seismic majors including Fugro (controlling 21% of EMGS through a convertible), PGS, CGG and Schlumberger the most like suitors."

4 potential suitors and only really two major independent suppliers. You could probably add China's BGP to the list of potential acquirers as well.

[robson1974] 30/11/2009 08:19

There was a broker note out on EMGS last week from First Securities (Norwegian Investment Bank)

Attractively priced technology
We initiate coverage on EMGS with a Buy rating and a target price of NOK 9. We expect electromagnetic surveying (EM) to gradually become an integrated part of the explora-tion value-chain and view EMGS, with its market leadership, well-positioned to benefit from this demand increase
•
EMGS is the leading provider of EM services globally with a market share of ~75%. Its proprietary technology is a result of the last 12 years' development and the company has currently two purpose built EM crews in operation. EM is a complimentary technology to seismic, and has the potential to significantly improve the exploration process.
•
Mainly amid a slower than expected technology adoption, and a slightly immature product, EMGS's strong growth came to a quick halt in 2008-2009. However, having successfully developed a 3D EM product, a user-friendly software solution and a sales oriented com-pany culture, we view EMGS well positioned for future growth.
•
If EM becomes fully adopted by the oil industry and EMGS maintains its leadership posi-ton, we view the company a highly likely takeover target. Given EM's complimentary char-acteristic with seismic, we view the seismic majors including Fugro (controlling 21% of EMGS through a convertible), PGS, CGG and Schlumberger the most like suitors.

A new spring?
We believe the technology development and maturing seen in 2008 and 2009 bodes well for better times. Oil companies we have been in contact with say EM-surveying definitely has a future and as the technology is constantly improving, there should only be a matter of time before the demand picks up.
Compared to 2007, the EM technology has improved and the adoption among oil compa-nies has started with some players being regular users, some have just started to use it whereas others still remain in their infancy with regards to EM. EMGS has narrowed its marketing and are now focusing more on major oil companies and companies which al-ready have some EM-knowledge. This strategy should maximise the number of companies using EM with the least efforts from EMGS. We also expect independents and majors not utilizing EM today to follow, once market leaders successfully apply EM on a larger scale.

[lord santafe] 30/11/2009 08:09

Now you can not even get hold of 5K online, so something big must be going on here?.

[lord santafe] 30/11/2009 08:04

Only 10K at a time being bought online, so limits must be very tight. I asume this means the MM has no stock left?.

[humbugg] 30/11/2009 07:56

contract win>does anyone know if this is with an existing customer, or a new one?
tia.

[masurenguy] 30/11/2009 07:53

Any view on what that Placing Price might be ?

[lord santafe] 30/11/2009 07:41

Over the next several months, OHM will be winning many more contracts like this, so the placing price is not too far off.

[robson1974] 30/11/2009 07:40

$1m but still very good news.

[niellyg] 30/11/2009 07:29

Positive start to the week....£1 million contract win

RNS Number : 2514D
Offshore Hydrocarbon Mapping PLC
30 November 2009

Offshore Hydrocarbon Mapping plc

30 November 2009

Rock Solid Images wins further West Africa contract

Rock Solid Images, a wholly owned subsidiary of Offshore Hydrocarbon Mapping plc
(AIM:OHM), announced today that it has been awarded one of its largest rock
physics and seismic inversion projects to date, with an order value approaching
$1 million for a client operating in West Africa. Work on the project is
expected to commence in January 2010.


Stated Richard Cooper, CEO of OHM, "We are very pleased that we continue to
attract a significant proportion of the seismic inversion and reservoir
characterization work available in West Africa. Since the start of calendar year
2009, we have been awarded approximately $3.5 million of seismic inversion
project work in this very active and prospective region, resulting in a
significant increase in backlog over the preceding year".


Cooper added, "Armed with our comprehensive knowledge of the regional rock
properties of these Upper Cretaceous reservoirs, as exampled by the Jubilee,
Tweneboa, Odum and Sankofa discoveries offshore Ghana, and, most recently, the
Venus discovery offshore Sierra Leone, we have been able to produce CSEM survey
design parameters which will optimize charged reservoir detection in this
prolific oil province. With this knowledge we have commenced a campaign to
promote the use of controlled source electro-magnetic (CSEM) data as an
important companion data-set to seismic to help with reservoir appraisal and
delineation."

[bones30] 29/11/2009 02:53

Question is how high will bounce if the overhang you talk about ends.

[denarii] 28/11/2009 20:55

do these guys have any revenue?

[bones30] 28/11/2009 01:53

:-)

I would be relieved to know it was the Lehman stake causing this personally.

At least we'd be sure in the knowledge it would end at some point. We need news of a good nature for this to happen.

[gwr7] 28/11/2009 01:20

More thrust Scotty!

[gwr7] 28/11/2009 01:18

I took my figures from the annual report bones which was before lehmans went bust. From announcements after that fiasco we can see that a couple of organisations took some of their shares but didn't hold them for long. I feel like I'm pushing water uphill. I'm a bit disappointed that the company's appointed broker has undermined the company by walking the price down on little volume. I remain convinced this is a good bet in the long term but the NOMAD (price target 33p I think robson said with 66p ignoring an arbitrary risk factor) isn't walking the talk. Anyway I've had a sound Friday night and would even give nina one but knowing my luck she'll have a cluster.

[bones30] 27/11/2009 18:08

Yes, I pointed out the Lehmans thing a few weeks ago. Wonder if that's the issue here.

Looking at this:



They must've had less than 2m odd... else they'd be on that list.

[gwr7] 27/11/2009 17:34

It can't have helped that Lehmans had over 2 million shares. Maybe they didn't find a suitable home.

[bones30] 27/11/2009 16:57

Comedy - I'm in still too. I think a forced seller is the only explanation.

[eater24] 27/11/2009 16:03

any idea whose selling

[comedy] 27/11/2009 15:23

lol come back after a couple of weeks and robson look like he has won a stalker...strange never saw this below 3p so guess nininanoonana has a different agenda..personally sitting on anice loss which seems to get bigger..but wont be buying until we can get rid of the seller at a pittance...seen this in a few stocks where someone wants out all costs and keep selling...so will sit here waiting for it to hit rock bottom. gl all still holding the 180k odd at a growing loss. ;) and yet keep thinking placing done at 20p+????

[bones30] 27/11/2009 13:39

Not so much silly, as confused. We all get it wrong time to time.

However, I have seen this sort of thing in other shares, and they took a long time to get back to the placing price. PCI is an example.

An observation is that the volume hasn't been that huge. I imagine if good news came in this seller cleared, the price could snap back quite quickly.