Wellstream Share Discussion Threads

[redips2] 09/6/2010 12:56

In fact i have 400 toes in the water as of now!

[redips2] 09/6/2010 12:50

My gut tells me 4.94p may be near enough sludge, i may pick up some today or as you say next week.

[sludgesurfer] 09/6/2010 00:19

whaddya reckon gents? Nice entry point? Unlike the majority of my other trades in the last year, I've managed to trade the last 3 cycles pretty well taking 90, 80 & 150 pts respectively. Think I'll give it till next Monday, if 490 holds, I'm in.

Sludge

[eisler] 22/5/2010 00:57

I love it when a plan comes together...

[shugsy] 01/5/2010 15:12

Would the failed contract have a knock on effect for prospective buyers?? Could see further downside as the bid rumour's dissipate and the reality of the contract failure sinks in.

[hoistman] 30/4/2010 13:55

is the bid still on?

or is it still just a rumour,shame about the lost contract would have been ideal if the bid is for real.

SP up and down like a fiddlers elbow, still if bid is there could be a great upside here,

Good luck all, hope it goes into orbit for you.
Not holding at the moment.

HM.

[blueflex2] 30/4/2010 09:04

it is too early to go back to 500 unless something bad happens to their business. It is speculative now coz potential bidders may snap up some shares if they want to acquire this firm.

[eisler] 30/4/2010 01:26

ouch! But happy to sit on sidelines for 500 again...

[blueflex2] 29/4/2010 11:20

treeshaking, mm exploit on the contract wins by Technip.

[kamitora] 29/4/2010 10:04

Shares in Wellstream shed 6.7 percent, making the oil services group one of the biggest fallers on Britain's midcap index, after French rival Technip wins a major contract from Brazilian oil company Petrobras.

The contract will see Technip supply pipes to develop the deepwater Tupi discovery offshore Brazil.

Oriel Securities said in a note that Wellstream not winning the contract raised questions about the share of the Brazilian deep water market that the company can win.

"The shares had been anticipating good news - or a bid - and are too far ahead of events," said the broker, which has a 'sell' rating on the stock.

[mirshahik] 29/4/2010 09:57

Why the drop here guys?

[matchstik] 21/4/2010 18:37

Looks like the Wellstream employees aren't happpy...........

"MORE than 200 workers at Newcastle oil and gas pipeline firm Wellstream are threatening to strike saying the company has reneged on a previous pay deal.

The workers have already introduced an overtime ban as well as a work to rule policy in recent weeks as it continues negotiations with the company through the GMB union.

However Wellstream last night said it was doing all it could to come to a negotiated settlement saying it was "disappointed" by the union's recourse to industrial action.

In the last 18 months Wellstream has axed about 250 jobs saying it has suffered as a result of the global economic downturn.

It now employs about 430 staff at its site at Walker and 200 of these staff, who belong to the GMB, are threatening the walk out.

A union spokesman said staff agreed to cut their annual pay increase last year from 5.3% to 2.7% to prevent further job losses.

But it believed it had a pay deal for 3.75% this year and believes Wellstream is now reneging on this.

A GMB union leader said: "Our members at Wellstream have already introduced a number of measures designed to cause disruption and get the point across that they are not happy with the package offered to them.

"The union would strongly advise the company to replace the original 3.75% offer that was agreed upon to avoid further action."

The company says it is in negotiation with the workers over this year's pay round, saying it's doing the best it can in light of current economic conditions.

Wellstream, which also employs about 600 staff in Brazil where it has contracts for over £600m with Brazilian oil company Petrobras, says this South American plant has been unaffected by job cuts.

The company says it is committed to its Newcastle facility which supplies its customers around the world.

A spokesman for Wellstream said: "We reiterate the importance of working together to conclude the agreement based on the existing offer so Wellstream can continue to address the challenging market conditions.

"We remain committed to ensuring Wellstream is able to emerge from the economic downturn as a strong and competitive business."

The union says its members plan to hold three half-day strikes between April 27 and 29.

It says the company has withdrawn this year's 3.75% pay offer and replaced it with one which would see workers get a one-off cash payment of £850 and £2,100 worth of pension shares over a two-year period.

Other changes would see a reduction in overtime pay and shift allowances, as well as the removal of travel allowance for workers visiting its facilities in Brazil, Australia and the US, say the union"

[fishbournetrader] 20/4/2010 08:58

Rising again this morning. Renewed bid speculation or something else?

[eisler] 11/4/2010 02:04

Could have made a packet on latest rise - but settled for my usual spread. Happy to sit on the sidelines for now and wait for the 490-510 - if it comes. Seems a long shot from here - but this is WSM after all!

[peterbill] 07/4/2010 21:46

takeover speculation

[richaims] 06/4/2010 17:35

Why the impressive rise since the end of February?

[eisler] 06/4/2010 17:25

Wow - got this one well wrong! I am entitled to one mistake a year! Good luck all holders!

[cockneyrebel] 01/4/2010 12:48

No probs PeterBill :-)

WSM firm today - bid news in the Easter papers perhaps?

CR

[peterbill] 30/3/2010 20:40

Edison Research e-mailed an update (this afternoon) on WSM where they mention that the share price being buoyed by takeover speculation.

[peterbill] 30/3/2010 20:36

Sorry CR my mistake :-)

[cool_hand] 30/3/2010 20:32

£10?

[cockneyrebel] 30/3/2010 20:21

PeterBill - 'a small pull back of Friday' refers to Friday gone.

CR

[loafofbread] 30/3/2010 18:40

Nice of them to let us they had been buying. Opps only a month late with notice.

Disclosure rules are such a waste of time.

I wonder how much they really have?