Share Name Share Symbol Market Type Share ISIN Share Description
Plant Offshore LSE:POGL London Ordinary Share JE00B1XVTV01 ORD 0.01P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 1.01p 0 06:32:19
Bid Price Offer Price High Price Low Price Open Price
0.00p 0.00p - - -
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil Equipment Services & Distribution 64.8 4.8 0.0 33.7 1.68

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Date Time Title Posts
05/12/200910:06Plant Offshore Group129
04/6/200820:07News Release on the 9 May Year End Results look Good1
03/6/200815:31Plant Offshore Group2

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flyingswan: I think POGL - Plant Offshore Group is a major winner, which has been over looked by the article below, in the FT. It is a E & S Oil and Gas Company, working in the Emerging Markets, the shares are tightly held and only a few available to PI, which makes them volatile. Small energy groups ride crest of oil price wave By Neil Hume (FT) Published: October 23 2009 19:53 | Last updated: October 23 2009 19:53 To some it's further evidence of a liquidity bubble, to others a sign of renewed investor confidence and rising risk appetite. Whichever view you subscribe to, there's little doubt that small-cap oil and gas exploration, where share prices have risen by five or six times in a couple of months, is one of the most exciting and dangerous areas of the London market. And no stock is more exciting or volatile at the moment than Gulf Keystone Petroleum. Shares in the Kurdistan explorer have risen from 13p to 105p in the past two months following a big discovery in northern Iraq. The company is now worth just over £500m, and is one of the most popular stocks among retail investors, even though it does not know how much of the 1bn-5.3bn barrels of oil it has found can be recovered. It also needs to raise $80m-$90m to develop its oil field. So what is driving the renewed interest in this most risky of sectors and can it continue? One factor is the rising oil price. This is important because it makes projects viable and attracts investors to the sector. Indeed, it is doubtful Desire Petroleum, which is looking for oil in the Falkland Islands, would have been able to launch a £62m equity fundraising this week if the oil price had not been about $80 a barrel. The same goes for Rockhopper, another Falklands explorer putting the finishing touches to a cash call of up to £50m. Another is what might be called the "Gulf Keystone" factor. "There's real excitement in the sector again. Pick the right stock and you can make 10 times your money," explains one analyst, who adds that the attractions of investing in BP and Shell are not what they were. This is because many analysts think BP and Shell will eventually be forced to cut their dividends because they are finding it more difficult to replenish their reserves. This may explain why a company such as Afren has strong institutional support. Its shares have risen by 600 per cent since April on the back of positive drilling updates from its prospects in Nigeria. The company is now planning to move from Aim to the main index and with a market value of nearly £700m it will be big enough to claim a place in the FTSE 250. But the most important factor behind the explosive share price movements in the sector has been the return of risk appetite. Fund managers and retail investors are prepared to put some money into these risky plays, in a way they were not in March. Given the brighter economic outlook (and in turn the higher oil price) that is understandable, all the more so when one considers the recent success stories from the UK exploration and production companies (E&P). Cairn Energy and Tullow Oil have grown from humble beginnings to become members of the FTSE 100, while Emerald Energy recently agreed a £532m takeover from China's Sinochem and Heritage Oil could become a blue-chip company if it completes its merger with Turkey's Genel. However, there are reasons to think that the share prices of small E&P stocks are starting to become a bit frothy and in some cases the exploration upside is already reflected in share prices. In fact, backing for this view comes from Hardy Oil & Gas. Its shares (which had risen 60 per cent in the past three months) slumped 41 per cent on Friday on news that the first exploration well on the D9 block in India had been abandoned. This was a real surprise to investors because Reliance Industries, India's largest private company, had made a significant gas discovery in a nearby field. Traders say Hardy is a timely reminder of the risks of investing in the E&P sector, where, for every winner, there are three or four losers. But investors don't appear to be listening. Even after Friday's fall, shares in Hardy are only back to the level at which they were trading when drilling commenced. All of which suggests that some of the cash that has been poured into the system by central banks has made its way down the corporate ladder and into one of the most risky areas of the market. And that means share prices can keep on rising even if they have lost touch with the fundamentals.
flyingswan: As a Value Investor, I think Plant Offshore Group POGL has been overlooked by the market. Plant Offshore Group is a profitable comapny and has an Erning Per Share of 2.96. It was floated at a time when Oil was experence the largest drop in value in a number of years. The share price has neaver had a chance to show its true value to the market. Now the recession is over and old prices are going back to their true value, I feel it is time for POGL to start to rise to its True Value. IMHO, DYOR See the basic date below: Shares in Issue 166,666,667 (Ord 0.01p) SEAQ/Epic POGL SEDOL B1XVTV0 Annualised Dividend - Dividend Cover - Latest Pay date Latest Ex-Div date EPS 2.96 Floated Jul 07 Market Capitalisation (£m) 2.083 Enterprise Value (£m) 27.728 Sector Oil Equipment, Services & Distribution % of Sector by Cap 0.022 Industry Oil Equipment & Services % of Industry by Cap 0.022 Last RNS Announcement 15-09-2009 Listing AIM Last Annual Results 02-06-2009 Last Interim Results 15-09-2009 Total Assets (m) 64.788 Total Liabilities (m) 26.452 Total Equity (m) 38.336 Cash & Equivalents (m) 0.840 Net Gearing (%) 39.532 Gross Gearing (%) 40.829 Net Assets (m) 38.336 Op Cash Flow (m) 4.329 Debt Ratio 4.618 Debt-to-Equity 0.070 Assets/Equity 1.690 Cash/Equity 2.191 Quick Ratio 0.799
flyingswan: There was a few buyers yesterday but still no movement in share price. I think we can expect an announcement any day now from the company as they have had time to notify people following the AGM. Oil Price are still raising and POGL is working a very successful market place at these prices.
flyingswan: James, I agree with you Plant Offshore Group (POGL) is very quite regarding news. It will not be long till it is a year old on the market so that may make a difference as some shares where locked in for a year. But not shure how this wiull effect the share price when the time comes.
flyingswan: Plant Offshore Group (POGL) is showing strong gains before it sheduled AGM on the 16th June 2008. It may be there will be some good new in the AGM which is starting to reflect in the share price movement. Well it is up again today, that is three days in a row, even when the market is going the other way. This AIM Stock is getting bacl to last years launch price.
penpont: From today's online IC: Plant Offshore unfairly neglected Created: 19 May 2008 Written by: Nigel Bolitho The shares of companies supplying the booming energy industry should be riding high with the price of oil well over $120 a barrel, but not Malaysia-based Plant Offshore Group (POG). It came to Aim in July 2007 via a £2m placing at 12p. After some initial excitement the shares have fallen steadily in value during 2008. Yet the latest results are impressive - particularly in sterling terms, with sales up from £4.2m to £14m and profits almost three times higher at £2.3m. On the same basis, earnings rose from 0.47p to 1.29p. Behind the sparkling 2007 figures were significant revenue contributions from a biodiesel plant built in east Malaysia and contract work for one of six fabricators licensed by Malaysia's state oil company, Petronas. Advertising POG supplies engineering, procurement and construction management services to owners or turnkey contractors on energy plant projects. Malaysia has been the mainstay of the group to date but it's eager to expand geographically. As a result, it has set up a subsidiary in Indonesia and a joint venture in Australia. It also hopes to win contracts in Vietnam and the Middle East. In fact, the group is confident of announcing more contract wins this year. In 2007, it achieved the turnover figure that broker Hoodless Brennan predicted for 2008 last September. So why does the share price languish? Perhaps surprisingly, according to POG, it's not shortages of materials that can delay projects but banks being more cautious in providing finance. IC View Buy POG is modestly rated despite there being lots of energy project work in the Pacific Rim. The shares are a speculative buy but are tightly held.
rokkie: "In the period under review, the Group's financial performance saw a significant improvement over the previous year. Revenues were RM96.3 million, an increase of 233% compared to RM28.9 million for 2006. Operating profit increased by 184% to RM16.6 million (2006: RM5.8 million). Profit before tax improved by 188% to RM16.3 million (2006: RM5.7 million). Basic earnings per share rose by 171% to RM0.088 (2006: RM0.033)." -great stuff now if we can just get the share price to move up to somewhere near where i bought in i'd be alot happier.
james t kirk: I've never seen a company who keeps their shareholders so badly in the dark regarding their activities. The website is hardly informative and the RNS's are few and far between to say the least. You would think that as long as performance has continued to be good that share price could perform well but they really need to step up information to markets - unless they really have nothing to say?
stegrego: Quinton - it did only 'gain' £2 million - thats the amount of money they raised at the float. The fact the share price has gone up and the company is now worth more, doesnt mean they have more money to spend or less debt - just that each share is worth more. As for it going up, down or sideways - your guess is as good as anyones - and if they say different - they are lying.
nouf2: Plant Offshore Group - an amazing start to life on AIM, which is a bit of a mystery to me! Author: IC | Posted: @ 23:28 The meteoric rise in the share price of Plant Offshore Group (POGL) this week is a bit of a mystery to me. You could say it's sour grapes as I had an opportunity to participate in the IPO but didn't take it up-it was a valuation thing! The group floated at 12p at the beginning the week and at the close today they were trading at c19p-quite a return! Volumes weren't great but it's the perception. POGL originally wanted to raise £2.6m at a prospective Price Earnings ratio of approximately 12 times (2007 estimates), giving them an initial post-IPO market capitalisation of about £21.5m. It now stands at £32m so assuming the estimates remain as they were it stands on nearly 18x 2007 estimates and c15x 2008 estimates. Perhaps I am missing something and further contracts have been nailed in the interim, however, they still have to deliver on these. The contract award is surely only a small part of the jigsaw, just ask Global Marine! Despite this (and my sour grapes!) I'm still not sure why a Malaysian company, with Malay clients needs to come to AIM to raise a paltry £2.6m. But we do seem to see this time and time again. The numbers look compelling but the suggested valuation just doesn't stack up for me as it is based on a huge step change in the business from 2005 to 2006. There are obviously some massive operational risks with regard to this and one should allow for the potential of a hiccup or two, especially with a small group who has never undertaken work of this magnitude. The balance sheet at 31st December 2006 indicated shareholders funds of £2.77m, net current assets of £2.38m (including cash of £1.78m) and Long Term Liabilities of £580,000-well we aren't investing for balance sheet strength but it could be worse. Net cash generated from operations in 2006 was £1.59m (vs Operating profit of c£0.8m) which appears a little too good to be true. The peer group comparison for this £21m company (at least it was back then) was made against (amongst others) Abbot Group (Mkt cap c£670m), Expro International (Mkt cap c£1bn), Petrofac £1.6bn), John Wood Group (£1.6bn) and arrives at an average 2008 PER of 15.8x. A more appropriate comparison would surely have been with AIM quoted (and UK based) Sovereign Oilfield Group (AIM:SOGP) Mkt cap c£25m and trading c13x 2008 estimates and UK based Chieftain Group (AIM:CFT) Mkt cap c£17m c13x 2008 estimates. It's an exciting opportunity to get in at the start in a business that would appear to have a potentially thrilling future across 2 booming sectors. It has proved that it can deliver on minor projects and has successfully won big contracts on foreign soil in Quatar and Indonesia which is good going. BUT It's a Malaysian business that's a total unknown in the UK-RISK = Discount Management are not known in the UK – RISK = Discount There is a projected huge uplift in turnover in 2007-RISK = Discount The major contract for 2007 is the largest of its kind for the group-RISK = Discount. One major contract and one client dominates in 2007-RISK = Discount. There is foreign exchange risk for the UK investor-RISK = Discount. Peer group valuation comparison isn't comparable-RISK = Discount Illiquid-RISK = Discount Taking a prudent view on 2007 estimates one can cut back the profit c£1m. Given the huge step change I think one also has to look at what they have achieved to date. Conjecture So I was wrong-BIG time. Significant Shareholders before Admission Landace Holdings Sdn Bhd 60% Titan Acres Sdn Bhd 40% Significant Shareholders after Admission Landace Holdings Sdn - 54% Titan Acres Sdn Bhd - 36% Global Trader Europe Ltd - 5% 10-07-2007: Former OilCorpunit lists on AIM by Lee Wei Lian Email us your feedback at Yesterday saw oil and gas industry services provider Plant Offshore Group Ltd (POGL) list on the Alternative Investment Market (AIM) of the London Stock Exchange - the second Malaysian company to do so within three business days. Pursuant to the listing, POGL placed out 16.67 million shares at 12 pence per share to raise about £2 million (RM13.87 million). The group has a paid-up capital of £16,666.67 comprising 166.67 million shares. As at press time, POGL's share price was 13.5p, down from its early morning high of 14p. The group engages in integrated engineering, procurement and construction management to oil and gas companies. Its chief executive officer Hang Chin Juan, executive director Pey Chee Hian and non-executive director Goh Chin Yong collectively hold 90% of the company through their holdings in Landace Holdings Sdn Bhd and Titan Acres Sdn Bhd. Cho Nam Sang, former independent non-executive director of OilCorp Bhd and now general manager of Konsortium Perikanan Nasional Bhd, is the chairman of the board. It is registered in Jersey, Channel Islands. Its primary subsidiary is Plant & Offshore Technology Sdn Bhd (POT), which was formerly known as Tenaga Nazar (M) Sdn Bhd (TN). TN was a formerly 100%-owned subsidiary of Oilcorp before the latter disposed of it for RM2 million cash in September 2004 to Techbest Engineering Sdn Bhd, now known as Plant & Offshore Corp Sdn Bhd (POC), another subsidiary of POGL. For the first quarter of 2007, POC reported profit after tax of RM2.1 million on a turnover of RM10.6 million, representing a profit increase of 31.25% over the same period a year earlier. In its admission document, POGL said it would focus on higher value EPCM (engineering, procurement and construction management) contracts such as the RM100 million EPCM job it signed with Century Corp Sdn Bhd. It has secured a five-year agreement with Oilfab Sdn Bhd, one of only six fabricators for Petroliam Nasional Bhd (Petronas) in Malaysia. POGL said while the majority of the group's contracts were still in Malaysia, it had won contracts in Qatar and Indonesia and supplied specialists contractors to Malaysia, Nigeria, Qatar, Thailand, China, Korea, Australia and Vietnam. It was now tendering for further EPCM contracts worth in excess of RM374 million. IMHO , if the tenders come off, this will fly, DYOR
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