Subsea Resources Share Discussion Threads

[edmondj] 11/10/2007 12:12

Good grief did Fidelity get conned too!

[ariane] 11/10/2007 12:05

Fidelity, FMR sell 1 mln SubSea Resources shares; now hold 2.24 pct in co




LONDON (Thomson Financial) - Fidelity International Ltd said it and FMR LLC
have sold 1 mln shares of SubSea Resources PLC at 0.0125 stg per share and now
hold 2.24 pct in the underwater engineering specialist company.
SubSea Resources had said on Oct 2 that it has received approaches regarding
a possible takeover of the company.
[e-mail]
ANS/nes/slj

[monis] 10/10/2007 21:58

Well, there looks to have been a 1m buy today which pushed the price up, perhaps something is happening in the background of interest.

[jfishy] 10/10/2007 18:38

Thanks for that ctrek.

[ctreksalvage] 10/10/2007 16:25

Jfishy
Its true you cant just help your self, If you find a wreck and wish to recover items from the wreck (if you are inside 12 mile limit)
First contact salvage association (Michael laury) nice chap
They would tell you who owned the vessel, the cargo maybe Treasury, MOD. Ministry transport.
If you get a salvage contract depends on how much cost and effort is required

Normal figure down to about 100 metrs is 80 percent to the salvor
you go deeper salvor gets more

If there is no owner of the cargo or the hull, you contact Receiver of wrecks (Sofie excelby) within 7 days of landing the item.
Then they will decide normally they hold the item for 1 year and 1 day if no owner turns up the item maybe sold and 7.5 percent goes to receiver


If the item is not of any great value you may be told to hold onto it for the 1 year and 1 day

best regards ctreksalvage

[jfishy] 10/10/2007 16:05

"could this boat by stroke of luck be of interest????"

As I understand it (and I could be wrong here), you can't just salvage a boat you find because it is still owned by the original owner (or more likely the insurer). Therefore, before salvage you must come to an agreement with the insurer/owner to bring the cargo up (E.g. If I can bring it up I will give you 20% of proceeds...)

Would appreciate it if an expert can confirm/deny the above.

[petergoddard] 10/10/2007 09:44

They don't norm.
Last year they didn't start their salvage [or search!] programme till April/May and stopped in October. And last year was their first programme - which got delayed despite Mark Gleave telling me it wasn't!

monis - if it is a stroke of luck it's something that SUB has a great need of!

[norm4n] 10/10/2007 09:30

A serious question - why do they seem to do their exploratory work in the winter when the seas are rough?

[monis] 10/10/2007 09:00

I wonder if we are going to see a big buy show up.

Re: yesterdays RNS reading through the lines, equipment obviously now works very well in oder to get the bell and they might not have found the Ella yet but they have obviously found a boat, could this boat by stroke of luck be of interest????

[jfishy] 09/10/2007 17:49

Do you mean in connection with SUB or are you saying that I am a bit fishy?!!

[thecynical1] 09/10/2007 17:29

jfishy...you have a very appropriate name !!!!!! ; )

[jfishy] 09/10/2007 15:48

"Well it ain't this one, only 11,997 others to check!!!!!"

There, fixed that for you - Gina & Miranda weren't found either!

[dhb368] 09/10/2007 12:03

Seems positive to me. At least they found something! Maybe they are getting better with practice.



Project Ella

......

In early October 2007 SubSea's survey vessel John Lethbridge and the survey team
revisited the site of the wreck referred to above. Notwithstanding the
challenging physical and technical conditions, the Company's Remote Operating
Vehicle ('ROV') was able to find the ship's bell, proving definitively that the
wreck is not Ella.

Given the project's potential economic value, the Board plans to seek permission
from the relevant authorities to visit other sites and, if necessary, extend the
area of the search in due course.

[isis] 09/10/2007 11:55

Will probably end Bell yup!

[wellworthit] 09/10/2007 11:48

company run by a bunch of bell ends

[edmondj] 09/10/2007 11:45

For Whom The Bell Tolls!

Hilarious! (So long as you are out.)

[still waiting] 09/10/2007 11:30

Really is a sorry state of affairs.

[dssaime] 09/10/2007 11:25

Not finding the ELLA is the final nail in the coffin for SUB. They have not found the MIRANDA or the GINA either. They are a shipwreck salvage company who can't find shipwrecks, or profitably salvage the wrecks found by others.

[isis] 09/10/2007 10:59

I see they found a Bell - Does that mean Last Orders!??
LOL

[still waiting] 09/10/2007 10:56

Management still seem keen to waste money swimming about in the dark!!

The company needs a reverse t/o or the directors will blow the lot.

[wellworthit] 09/10/2007 10:54

LOL

william47 - 28 Sep'07 - 13:09 - 4391 of 4432


read the the full accounts on the website plonker thats why institutions are still loading up.imho 6 months 25-30p.they have not given up on finding the goodies they are still searching and will be doing a winter search elsewhere.wake up