Thalassa Share Discussion Threads

[cockerhoop] 04/8/2017 11:24

Papua described as 'strategic' so I think hinting that it's got nothing to do with an investment in mining. Perhaps shell company?

[mr macgregor] 04/8/2017 11:02

Just a point from the interims regarding the flying nodes:
"The development and testing of the prototype ‘Flying Node’ for OBN seismic survey is progressing as planned...with testing of the autonomous functions planned for Q3 of 2017"
whereas earlier in the finals they had stated:
"Autonomous flight tests will begin Q2 2017"
so clearly there has been some slippage and 'progressing as planned' is something of a moveable feast, in this case presumably due to a delay in software development.
My wider point is that I feel the development of the flying nodes has suffered from under investment over the years and I would rather have seen more invested in that side of the business than say tilting at windmills in Papua.

[kooba] 02/8/2017 12:13

Don't think it will be long to wait either way as the dd has been done ...is the offer attractive enough to accept?Also read of defence application for flying nodes but think that a byproduct of the potential in O&G ...suppose the nodes pick up subsurface activity as a defence application but can't think it's a permanent application against subs etc?

[cockerhoop] 02/8/2017 11:35

Kooba,

DS did allude to a MOD angle for the ARL technology so perhaps some non O&G potential. Agree share price is likely to bounce on a favourable deal and a decision on 'should I stay or should I go' can be made then.

[mr macgregor] 02/8/2017 11:16

WGP would be a bit of bread and butter for a major survey player and I imagine their real interest is in getting a slice of ARL. I like the way this is playing out.

[pj 1] 02/8/2017 10:53

tiswas
I'd have thought exiting with a 70% profit would prove excellent timing?

[cockerhoop] 02/8/2017 09:17

Bit of a mugs game but if I had to guess where DS invests the WGP money - I'd say ARL (along with matched money from the current bidder).

[varies] 02/8/2017 09:12

A correction to my Post 4021
The stake in LSR is worth c.£6 million rather than £8 million.
THAL has about 24.5% of LSR's shares rather than 24.5 million of them.

[jmf69] 02/8/2017 08:46

Could it be the buyer acted with the improved offer having seen the numbers for H1?

[glasshalfull] 02/8/2017 08:36

tiswas - C'est la vie! Banked a good profit & pleased that holders may finally reap rewards.

Today's statement actually confirms why my patience wore off. Why not release this news yesterday alongside results? Not the first time there has been a material RNS shortly after a result or trading announcement.

Simply put, an investor should realise when investing that in the case of THAL, it's DS company & investors require to play by DS's rules!

GLAH

Kind regards
GHF

[varies] 02/8/2017 08:32

Like others here I am concerned about what THAL would do with the proceeds if the disposal goes ahead.
THAL's stake in LSR is worth about £8 million. LSR is busy selling off its properties but realising net prices some 5/10% below the latest valuation. It says that it is selling the less attractive properties first and may seek to sell the remainder in one parcel at the end of the year. So THAL has a reasonable chance of emerging with a modest profit within the next 12 months.
I am more worried about Papua Mining (PML)which is pitifully short of funds and is likely to be seeking more from THAL.
Does Mr Soukup know something about PML that is not publicly revealed ? Investment in PML shares looks to me as speculative as backing an outsider in the Grand National !
I would be content to see THAL write off its stake which I believe to be only modest.

[horndean eagle] 02/8/2017 08:27

It sounded like the buyers were playing silly beggars last time and taking liberties when oil price was weak. Its bounced now so they have come back with something more sensible. You would hope that the deal goes through this time. I would be surprised if Duncan would have entertained a call and put out today's announcement unless it was very likely to happen. Hopefully all the dd has been completed and all they are waiting for is the customer to approve the ownership switch. I think NAV goes upto to circa 150p on disposal. The key is what Duncan decides to do with the cash.

[kooba] 02/8/2017 07:38

Well it appears an acceptable offer was made by a credible third party....went into exclusive talks thinking they were in the driving seat....substantially reduced offer for no good reason thinking Thalassa were over a barrel(so to speak!) and DS said how about F off....and they have now come back with something that is likely acceptable ...otherwise I think they would have been told the same.Since the revised first (unacceptable) first offer was worth them market cap £15m obviously they have come back some way north of that. He is only interested in selling a profitable attractive business if it adds significant value to the overall group valuation...I would imagine a niche operation could have greater value in a larger industry group structure.

[tiswas] 02/8/2017 07:26

Unlucky timing GHF!

[frazboy] 02/8/2017 07:22

You might not employ DS to be your investment manager but you would certainly trial him if you were putting together a poker team.

[pj 1] 02/8/2017 07:20

It almost feels as if DS is now playing games with Investors.

[jmf69] 02/8/2017 06:57

Before the disposal talks I was looking for £1 as an initial target price. Let's see where this all leads

[kooba] 02/8/2017 06:53

:)....question being if this does go through and we end up with a highly liquid balance sheet with let's say well over 100p net cash or short term investments what does the board do with the money!

[jmf69] 02/8/2017 06:48

I don't have any yet but if the share price hits 140 I'll be more than happy to buy you a beer or 2 ?

[kooba] 02/8/2017 06:39

Let's see your workings then...mine based on balance sheet and company announcements.

[jmf69] 02/8/2017 06:32

Kooba - I think that is a bit on the high end. I'd be much more conservative than that

[jmf69] 02/8/2017 06:31

Initially the cynic in me thought DS threw the news in about the equipment failure so they could buyback at a lower price. Let's see where this leads but should hopefully see a rise in to the 70s atleast

[cockerhoop] 02/8/2017 06:24

I do love safe predictable companies like THAL :-)