Sovereign Oilfield Share Discussion Threads

[pbracken] 22/8/2008 10:19

Hi hp; I managed 10K at 17p yesterday! That's all I could get. I doubt it's being ramped - too small and off-the-radar for that. My instinct says that a deal may be sorted whereby the drilling division is sold (as outlined earlier), and a refinancing package is put in place that replaces the crippling interest rates of the Merrill consortium with something more manageable.

I think, too, the company is trading reasonably at the EBIT level. If these things are confirmed in the next few weeks (results are due in Sept) than SOGP could enjoy a nice recovery.

Right now the market is pricing in failure, which can only mean one thing: any hint of good news and it should rise steeply and very quickly.

[digging] 22/8/2008 10:17

i wonder why.zoo digital/ZOO now cash positive month on month.5-bagger

[horsepower] 22/8/2008 10:11

Not sure what's going on here.

Looking to buy-in but can't get hold of more than 500 shares. According to my broker they've received a number of small buy enquiries this morning (1k to 2k) none of which have been placed due to MMs being unwilling to trade at current offer.Looks to me that either news is around the corner, hence the number of small buy enquiries, or someone is doing a good job of ramping. Either way I don't know what the MMs are playing at. So much for making a market - they seem to be intentionally killing it at the minute. Maybe our new Kuwaiti Prince is trying to buy-in! LOL

I've went up to 21p for 10k of shares and still no takers from MMs?

[digging] 21/8/2008 16:04

TOLD YOU SO.IM HEARING BIG STUFF COMING ON.ARGENTIVE/ARGV.10P+

[legallf] 21/8/2008 16:01

BIG Ramping more than anything else!!!!

[i_hopi] 21/8/2008 12:52

Kuwaiti sheikh joins Aberdeen oil minnow

Published Date: 21 August 2008 By Hamish Rutherford City Correspondent

ONE of Scotland's smallest listed companies is hoping to win contracts in the Middle East after appointing a 25-year-old member of the Kuwaiti royal family to its board.

Sovereign Oilfield Group said Sheikh Sabah Ali Fahad al-Salem al-Sabah, part of Kuwait's ruling dynasty, was joining its board as a non-executive director with immediate effect.

The Aberdeen-based oil services company, which has a market capitalisation of less than £3 million, yesterday declined to take questions on the appointment.

But a statement from chief executive Graham Burgess made it clear part of the attraction was Sabah's connections.

[double6] 21/8/2008 12:48

Think we all know whom "digging" is - no capitals - rambling on to himself.....

[digging] 21/8/2008 12:48

d6 amazing news out on FTS.BUT BE QUICK PROFITS QUADRUPLED.

[willz] 21/8/2008 12:47

Digging, i'm in Aberdeen and havent spotted anything in the P&J

[double6] 21/8/2008 12:46

Where was the "rumour" ??

CMF making progress ??

[digging] 21/8/2008 12:19

aberdeen press has picked up on it.dyor but they are talking over 100 new jobs.

[digging] 21/8/2008 12:14

dont wait to long.

[digging] 21/8/2008 12:09

big news.dyor

[willz] 19/3/2008 16:35

What do people think of the prospects of this one? Obvioulsy the news went through a couple of days ago agreeing the sell off of the drilling side of things but other that an agreement on a better financing package is there only one way this share will be heading?

Would it be possible for a company to buy out the money making fabrication side and not the debts? or is there too many shares held by directors for this to be a possibility?

[chris1981] 17/3/2008 07:31

Major Contract Win

RNS Number:1936Q
Sovereign Oilfield Group plc
17 March 2008



FOR IMMEDIATE RELEASE 17 March 2008



SOVEREIGN OILFIELD GROUP Plc

("Sovereign" or "the Company" or "the Group")

Significant Contract Awards


Sovereign Oilfield Group Plc (AIM:SOGP), the Aberdeen-based diversified oilfield
services group, announces that its Fabrication Division, which consists of seven
operating subsidiaries, has recently been awarded several significant contracts
totalling £7.35 million.

OIL Engineering Limited, specialists in structural and pipework fabrication
services, has been awarded two contracts. One for the manufacture of manifolds
for the North Sea Victoria Project at a value of £1.0 million, and the other for
the manufacture of lifting/handling frames for Acergy Norway AS - value £0.5
million.

Vertec Engineering Limited, designers and manufacturers of specialised fire
protected cabins and local equipment rooms for the oil and gas, renewables and
transport industries, have been awarded contracts totalling £2.85 million. This
includes a contract with FMC Technologies Inc for £1.2 million for the
manufacture of a VSD Module, and a contract with Saipem America Inc for the
manufacture of A60 workshop/control vans at a value of £0.65 million.

Forfab Limited, have been awarded contracts estimated to be in excess of £1.0
million for the design and manufacture of storage and pressure vessels for
export to the Middle East.

Labtech Services Limited, which designs, manufactures and hires containerised
and skid mounted equipment, have been awarded a contract to design, fabricate
and install an accommodation module onboard a North Sea drilling rig. This
contact is valued at £1.0 million.

Meanwhile, Oil Engineering Middle East LLC, based in the Group's new facilities
in Abu Dhabi, has been awarded a contract for the fabrication of 2 accommodation
modules for FPSOs currently under manufacture in the Middle East. The contract
value is estimated to be in excess of £1.0 million.

Commenting on these developments, Graham Burgess, Chief Executive Officer of
Sovereign, said:

"We are delighted to announce these contract awards. The Fabrication Division is
now a leading provider of international manufacturing services and products that
add value to our extensive customer base. Our fabrication companies have
consistently performed strongly, growing significantly year on year."




Further information:


Sovereign Oilfield Group Plc Tel: [phone]
Graham Burgess, Chief Executive Officer
Julie Cowie, Finance Director

Buchanan Communications Tel: [phone]
Tim Thompson/Catherine Breen

Charles Stanley Securities - Nominated Advisor Tel: [phone]
Mark Taylor/Freddy Crossley


About Sovereign Oilfield Group Plc

Sovereign, which joined AIM in September 2005, was formed in October 2003, by Dr
Peter Felter and Mr Graham Burgess, for the specific purpose of developing an
oilfield service company focused on:

*The provision of engineering, fabrication and drilling services and
personnel to oil and gas companies and contractors in the UK and
internationally

*The promotion of new 'high tech' IP and technologies for enhancing oil
and gas drilling and production.

[tsmith2] 29/2/2008 08:10

I'm taking profits - its been a good one for me and now looking at Ariana Resources for a top up ahead of a couple of good months

[pbracken] 29/2/2008 07:39

This seems to be a very positive development; strip out the ailing (minority) business and leave the £70m Fabrication Division to prosper - saddled with less debt into the bargain, debt which will - let's hope - be then renegotiated on better terms.

What value the SOGP after the sale? Surely twice the price in the short term term.

[pbracken] 27/2/2008 15:29

A bit early with my target, but onwards and upwards since. LIBC will buy a whopping 37.5k at a premium - most unsual for this stock, and the most on offer is 2.5k at full price.

[pbracken] 22/2/2008 14:27

2v1 tsmith, and LAND shouldn't stay there for long - he's only offering 100 shares at 48p. 45-50p a distinct possibility before the close.

[tsmith2] 22/2/2008 13:39

pbracken - looks like MMs want the stock. filling a buy order or an expectant BUY order.

[pbracken] 22/2/2008 11:37

2v2, same sizes.

[tsmith2] 22/2/2008 11:29

thanks Pbracken - still as strong?

[pbracken] 21/2/2008 18:38

LAND, SCAP 41-46, 01x01 (meaning only up to 100 shares matched at bid or offer)
LIBC 40-45, 2.5x2.5 (i.e 2.5K shares)
WINS 40-47, 2.5x2.5

[tsmith2] 21/2/2008 18:13

someone was prepared to pay 45p to pick up £1ks worth - little or no stock.

pbracken would you be kind enough to post who was bidding/offering what at the end of the day