Offshore Hydrocarbon Mapping Share Discussion Threads

[comedy] 05/1/2010 20:03

400k trade yesterday???

[monkeywrench] 04/1/2010 15:47

And a Happy and Prosperous New Year to you too.
From a 'small fry punter' who has had a good day,
not entirely due to uninformed and poorly researched punts.
I must try that approach sometime.

[robson1974] 04/1/2010 15:39

well they say they expect two major CSEM contract awards which have been delayed, and there is plenty of action again in small cap oiler space which suggests the E&P sector is getting back onto the fron foot and doing their jobs after spending 2009 retrenching, OHM should be a beneficiary of this... eventually

[bones30] 04/1/2010 15:34

Some decent sized trades on PLUS today (3x 100k)

[deanroberthunt] 04/1/2010 15:34

nope, just a couple of small fry punters taking an uninformed and poorly researched punt, hoping for a 10 bagger

[stinto] 04/1/2010 15:22

2 very small buys and we're on the move.

Where has our seller gone?

[monkeywrench] 04/1/2010 15:18

So, was that 2 million dollars extra credit facility a good thing
or a cry for help ?
If it's positive news, why hide the RNS away on Christmas Eve ?
For some strange reason, I hold a few of these.
Can't decide wether or not to keep them.
Today's rise must mean someone likes them though.

[lord santafe] 30/12/2009 00:45

I sold some of my holding today at 8p for a 40% loss, and put the money into Fieldbury (FIE). Although within the next 6 weeks, I do intend to buy back my holding and more.

[mr macgregor] 24/12/2009 17:06

Real shame about the delayed CSEM contracts. The major shareholders have proved twice now that they will do all they can to support that part of the business. Regardless, I'm content the price is easily supported by a very conservative valuation of Rock Solid Images.

A statement in the April interims looks extremely good following Tullow's announcement the other day about further appraisal success in the Mahogany/Jubilee field.

"There has been continuing exploration success by the group of oil companies that operates the Mahogany / Jubilee field in Ghana, where Rock Solid Images are playing a key role in mapping the individual hydrocarbon bearing sands in complex fan setting. This has been a catalyst for demand growth for Rock Solid Images' seismic inversion workflows which are underpinned by proprietary seismic data conditioning tools and rock physics capabilities."

Happy Christmas to all.

[stinto] 24/12/2009 10:10

Lets hope they don't need any, but any short term credit of thsi size normally costs a fortune.

I see why the MM's marked this down with such huge selling pressure.

Here's to 2010.

[bones30] 24/12/2009 09:37

Yes I was thinking that. Lets hope they dont need too much of it.

[bobby.ifa] 24/12/2009 09:35

Mortgaging future Income that might not necessarily profitable. Don't like it & a whopping intesrest rate charge of 8%- very expensive reflecting the risk.

[deanroberthunt] 24/12/2009 09:15

as with all AIMers can it survive and prosper without the begging bowl.....the jury is still out...

[stinto] 24/12/2009 08:24

Can't see any problems with that.
It's just an agreed overdraft facility in case cash flow get's to be a problem.

[robson1974] 24/12/2009 08:22

jailbird, you are right but i imagine the reason the large shareholders are prepared to back OHM + RSI is because there is real value in RSI and long term potential in OHM whilst at the same time BGP are making clear their strategic global intent

i think 2010 will be a 'make' rather than a 'break' but sometimes these things get taken to the wire in the 'negotiating' phase

[jailbird] 24/12/2009 08:15

short term funding, plus interest payments to tick over.

they will need those delayed projects to be profitable.

However a fund raising will still be needed working capital in the future.

jury is still out...next yr make or break

[robson1974] 24/12/2009 08:14

Good to see the two largest shareholders showing faith in the business.

Should be some decent newsflow when these CSEM deals are eventually announced.

[5dally] 24/12/2009 07:52

Well this may move us north today :-)

[lord eubank] 24/12/2009 07:50

PRESS RELEASE


24 December 2009

Offshore Hydrocarbon Mapping plc ("OHM" or "the Company")

Credit Facility Agreement

Offshore Hydrocarbon Mapping plc (AIM:OHM) is pleased to announce that it has
agreed terms of a Credit Facility of up to $2 million with affiliates of its two
largest shareholders, East Hill Hedge Fund, LLC ("East Hill") and Euro Trans
Skips AS ("Seatrans")".

[bones30] 24/12/2009 00:40

Interesting, wasn't aware. Appears to be correct:

[mr macgregor] 24/12/2009 00:39

Note that Rock Solid Images have been helping to define the Jubilee field:

Mahogany Deep-2 appraisal well confirms southerly extent of Jubilee field
23 December 2009 - Tullow Oil plc (Tullow) announces that the Mahogany Deep-2 appraisal well offshore Ghana
confirmed the down-dip extent of the main Jubilee reservoirs in the West Cape Three Points Block and
intersected two new light oil accumulations. Good quality reservoirs were encountered in the Mahogany Deep section but were water bearing at this location.
Mahogany Deep-2, drilled 3 km from Mahogany-3, is the furthest down-dip Jubilee well in the West Cape Three Points licence. Results of drilling, wireline logging and samples of reservoir fluid indicate that the well has encountered good quality hydrocarbon-bearing reservoir sandstones in three zones. An interval of 12 metres net pay has proved an extension of the main Jubilee reservoirs. In addition, a new shallower accumulation, with 2
metres net pay, was encountered and supports exploration prospectivity in undrilled areas to the south and east.
In total, the well intersected 53 metres of net reservoir sandstones, 20 metres of which were in the Mahogany
Deep section. These were found to be water bearing at this location but are not connected to the Mahogany Deep
accumulation at Mahogany-3. Further extensions to the Mahogany Deep accumulation may exist to the south and east of Mahogany-3.
A new reservoir was also encountered in a deeper stratigraphic level beneath the Mahogany Deep section and an oil sample was successfully recovered from a 1 metre zone which has not been encountered in any other wells in the West Cape Three Points licence to date.
The new accumulations discovered by the well will now be evaluated using the recently reprocessed high resolution 3D seismic data and may be the target of future drilling. Further potential extensions of the Jubilee field and associated prospectivity will be drilled early in 2010.
The Aban Abraham dynamically positioned drill-ship drilled Mahogany Deep-2 to the current depth of 4,326 metres in water depths of 1,354 metres.

[chasbos] 23/12/2009 16:03

Did you see this?

[roguetreader] 23/12/2009 10:09

ShugMonkey an interesting little snippet and a good find

[shugmonkey] 22/12/2009 23:57

A small mention here, but a nice one ;-)


Following The Star Of Scottish Invention

"He highlights the work of Offshore Hydrocarbon Mapping (OHM), the Aberdeen-based surveying firm spun-out from the UK's National Oceanography Centre in 2002. Liddle says OHM's work to extend the use of controlled source electromagnetic imaging (CSEMI) from deep to shallow water had been one of the highlights of the decade.

Looking to the decade ahead, Liddle thinks integrating CSEMI surveys with geological studies will be crucial.

More broadly, he believes finding new reserves, getting more out of existing wells and lowering extraction costs will remain key themes."

[robson1974] 22/12/2009 16:35

I think you are right. Which is why the share placing was done at 21p. In recognition of the value created.