No sign of either Steven or AVATAR333 so far today I note.
#Alcatel |
I suspect I am not the only avatar looking forward to B*ST, that is 2 days in a row I have woken around 5am as the sun rises.
*Berlin |
Perhaps the stupidest ad ever featured on tv, that bloke with the `tash..
Show your face on tele these days and rake in £ millions as a celeb.
It`s time business realised that only the dimmest of chavs actually buy anything advertised on tv.
The fun ads are sadly dead, remember the ones with Professor' Stanley Unwin, the fish and chip ad went...
"Thirbly in the chip mold, salt and vini, deep joy." |
Morning (x several) |
Morning Barry, morning all. |
. Lytham
The latest crime rate is 85.8 crimes per 1,000 residents, and this includes 659 antisocial behaviour offences, 613 violent crime offences and 94 vehicle crime offences.
,,,,,,
Third most dangerous town in Lancs. |
 Cavendish have re-issued their recent note today.
Key Updates in Plexus Holdings’ Latest Report (24 March 2025) vs. 19 March 2025
1. Growth Strategy – More Focus on Decommissioning & CCS
The latest update (24 March 2025) emphasizes Plexus’ positioning in decommissioning (plug & abandonment – P&A) and carbon capture & storage (CCS):
1,000 wells in the North Sea are scheduled for decommissioning by 2027, presenting a huge market opportunity for Plexus' wellhead rental services.
CCS projects are gaining traction, and Plexus is expanding its partnerships to capitalize on this trend.
The company has secured a $1m offshore gas exploration contract in the Middle East through its partnership with Peak Energy Solutions.
A new master services agreement was signed with a well management company, opening additional opportunities for global wellhead rentals.
📌 Takeaway: While the previous report focused on expansion, this update provides a more refined strategy with clear industry focus areas.
2. Improved Cash Flow & EBITDA Forecasts
The updated report includes refined financial projections, incorporating the oversubscribed fundraise and increased market confidence.
EBITDA (FY27E):
Previous estimate: £3.7m
Latest estimate: Still £3.7m, but with better cash flow assumptions.
Operational Cash Flow:
FY26E: £2.8m (unchanged)
FY27E: Increased from £3.1m to £3.4m due to stronger rental activity.
Capex Adjustments:
FY25E & FY26E: £5.0m total (unchanged).
FY27E capex cut to £0.5m, boosting free cash flow to £3.1m.
Closing cash reserves for FY27E improved from £4.3m to £4.7m.
📌 Takeaway: The company is moving towards self-sustaining growth, with higher projected cash reserves and reduced capex needs.
3. Rental Fleet Expansion – More Revenue Insights
While both reports discuss Plexus’ expansion to 16 Exact wellhead rental sets, the latest report provides better-defined financial and operational assumptions:
Rental Revenue Projection:
Estimated £9.5m annual revenue from 16 rental sets (unchanged).
Better clarity on cost structure, showing a gross margin of 65% and an annual return on capital over 100%.
Breakdown of Per-Project Rental Revenue:
A single wellhead set generates ~£590k per year.
Additional revenue streams include:
Mudline suspension equipment rentals
Running tool rentals
Tieback tools for well completions
New Efficiency Metrics:
Lower refurbishment costs per deployment, improving profitability per unit.
6% SLB royalty fees factored into revenue calculations for the first time.
📌 Takeaway: Plexus has provided more granular revenue and cost insights, reinforcing the high-margin nature of its rental business.
Final Thoughts
The 24 March 2025 update builds on the previous 19 March report by adding strategic focus, refining financial projections, and detailing rental revenue models. The company now has stronger positioning in decommissioning & CCS, better financial clarity, and enhanced rental economics.
Also note there will be a presentation on Investormeet on 26 March |
Morning Patriots. |
Evening all, including those holding for Lytham*.
*why? |
M&S and Sainsbury’s run completed. |
Good morning you two fine fellows. In a holding pattern until departure for Lytham |
Good morning AVATAR333 and other Patriots. |
Can`t say the media didn`t warn you. |
Henry did a great job! |
Welcome back, mate.
Exiting holding pattern. |
Mr Putin at work again, I should imagine: |
Re: 2764
jeffian will enjoy this:
In a post on X, Ed Miliband writes: "The loss of power to the Heathrow area has caused major disruption to thousands of people and many businesses.
"We are determined to properly understand what happened and what lessons need to be learned." |
2763
All good stuff, mate. |
Excellent. |
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