Allstocks.com's Bulletin Board Post New Topic  New Poll  Post A Reply
my profile login | register | search | faq | forum home

  next oldest topic   next newest topic
» Allstocks.com's Bulletin Board » Hot Stocks Free for All ! » PMHH (oil &rigs) 2mth High on 3x Vol! (Page 3)

 - UBBFriend: Email this page to someone!   This topic comprises 4 pages: 1  2  3  4   
Author Topic: PMHH (oil &rigs) 2mth High on 3x Vol!
The Owl
Member


Member Rated:
4
Icon 1 posted      Profile for The Owl     Send New Private Message       Edit/Delete Post   Reply With Quote 
Ok thanks.

Very soon Repoman - that means days. They're at the Offshore exhibition now!

BTW - there are supposed to be Asian deals already done, but not yet announced as well as what comes from the exhibition.

The reason for $2 in June is the appointment of Mr Kirk Baer - CFO in January, so company '...can report voluntarily, and give investors confidence...' The audit is bing done now to complete end May after which Mr Baer writes report. External audit firm will be retained after too - see RNS (Not many of those on the OTC).

Also parent company knows Patriot is worth $2. It raised stake from 71% to 83% at $2 price only last September 2005! They still own 83% so restricted to 17%.

This was before loads of Patriot deals - latest was for $12.4M with Keppel Fels in Asia in January.

Check the volume rise over last few days plus firm breakout looking imminent. Oil is about to go sky-high with driving season soon too.

Thanks again.

Posts: 318 | From: UK | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
Repoman75
Member


Rate Member
Icon 1 posted      Profile for Repoman75         Edit/Delete Post   Reply With Quote 
Ok, will radar then. Let you know if I dive in.

--------------------
Stick with Repo's plan in '07 - FRPT/DKAM!

Posts: 6379 | From: PA | Registered: Dec 2004  |  IP: Logged | Report this post to a Moderator
The Owl
Member


Member Rated:
4
Icon 1 posted      Profile for The Owl     Send New Private Message       Edit/Delete Post   Reply With Quote 
Don't know what you did Repoman, but people are piling in!Did you buy?


Biggest volume for 4 months...news will be coming from exhibition soon, i.e. by weekend or early next week.

Posts: 318 | From: UK | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
The Owl
Member


Member Rated:
4
Icon 1 posted      Profile for The Owl     Send New Private Message       Edit/Delete Post   Reply With Quote 
News on PMHH from the UK.

One of the institutions (Shroders) who already owned 10.10% as of 4 weeks ago bought another 1% of the company!

Lots & lots of institutions with lots 'n lots of shares. They may well be accumulating for a mystery buyer to take out both GME & PMHH before it's $2 true value is realised...and GME's huge £50m potential sales ($90m) come to pass...This is a one way stock.

10 institutions do not buy 60% of a risky AIM stock on the basis of sales/profits or recovery alone. I'm expecyting the true story to unfold before the June results.

Posts: 318 | From: UK | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
The Owl
Member


Member Rated:
4
Icon 1 posted      Profile for The Owl     Send New Private Message       Edit/Delete Post   Reply With Quote 
Just me - pumping & hunting again! [Smile]

From the show - PMHH bread 'n butter.

http://www.otcnet.org/2006/pdfs/otc_sd_thursday_lr.pdf

See page 16.

Keppel Fels have signed a deal with Transocean - very similar work to the $12.4m work given to PMHH in January. Wonder if they'll sub-con some of it PMHH's way again?

Posts: 318 | From: UK | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
fourseven
Member


Rate Member
Icon 1 posted      Profile for fourseven     Send New Private Message       Edit/Delete Post   Reply With Quote 
Could you include a link to where you found that info? Thanks...

quote:
Originally posted by The Owl:
News on PMHH from the UK.

One of the institutions (Shroders) who already owned 10.10% as of 4 weeks ago bought another 1% of the company!

Lots & lots of institutions with lots 'n lots of shares. They may well be accumulating for a mystery buyer to take out both GME & PMHH before it's $2 true value is realised...and GME's huge £50m potential sales ($90m) come to pass...This is a one way stock.

10 institutions do not buy 60% of a risky AIM stock on the basis of sales/profits or recovery alone. I'm expecyting the true story to unfold before the June results.



--------------------
the market is not your mother

Posts: 1282 | From: Montreal | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
The Owl
Member


Member Rated:
4
Icon 1 posted      Profile for The Owl     Send New Private Message       Edit/Delete Post   Reply With Quote 
fourseven - sure. I can do better than that!

Here's the link to all news for the Parent company, GME. This is why PMHH is so unknown as no obvious place to look for research.

However, PMH will be posting soon...incidentally this link will enable you to trade PMHH at the open from news already released earlier in the UK if you keep eyes open. I'm not sure the MM's notice sometimes [Smile]

http://www.moneyextra.com/stocks/companynews/
Tap in GME (Not PMHH)

The other place is www.advfn.com for news - either PMHH or GME will give you free BB links.

Unfortunately, PMH lost their IR rep last year, and are looking for another.

This is still a whisper, and it's good to see a down consolidation day for once.

Hope this helps.

Posts: 318 | From: UK | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
The Owl
Member


Member Rated:
4
Icon 1 posted      Profile for The Owl     Send New Private Message       Edit/Delete Post   Reply With Quote 
Here's some of your news from the exhibition

HOT OFF THE PRESS


http://uk.us.biz.yahoo.com/iw/060505/0127393.html

Get with it. This is just the start. This will run through to December interims and be $2 in June when CFO reports that's what it's worth.

Posts: 318 | From: UK | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
fourseven
Member


Rate Member
Icon 1 posted      Profile for fourseven     Send New Private Message       Edit/Delete Post   Reply With Quote 
Thanks Owl!

Here's my funky chart for PMHH, with support/resistance lines:

http://server6.theimagehosting.com/image.php?img=pmhh_20060504SR.033.png

--------------------
the market is not your mother

Posts: 1282 | From: Montreal | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
The Owl
Member


Member Rated:
4
Icon 1 posted      Profile for The Owl     Send New Private Message       Edit/Delete Post   Reply With Quote 
Looking good.
Posts: 318 | From: UK | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
Repoman75
Member


Rate Member
Icon 1 posted      Profile for Repoman75         Edit/Delete Post   Reply With Quote 
Owl, have not dived in yet. Waiting for funds to clear on Tuesday, then I'm jumping in 3 or 4 picks huge.

--------------------
Stick with Repo's plan in '07 - FRPT/DKAM!

Posts: 6379 | From: PA | Registered: Dec 2004  |  IP: Logged | Report this post to a Moderator
The Owl
Member


Member Rated:
4
Icon 1 posted      Profile for The Owl     Send New Private Message       Edit/Delete Post   Reply With Quote 
Repo, think you may well have timed it well.

Here's some more info based on deal Friday. People don't understand what this means yet.

Below is just my opinion, however I've emailed company to check and will keep you posted. If what I think is happening is reality, GME & PMH are about to go orbital.

----
NIM usually provide PMHH winches - they are part of same company.

If PMHH have signed an exclusive deal with EMCE/Stokvis
http://www.emce.nl

they could sell off NIM winching, staff, offices and Newcastle yard at no risk to the Patriot business.

I don't know for sure if this is what is planned, however it looks extremely likely. NIM was one of the reasons GME could not give Patriot all the cash it wanted last year, and the reason for unexpected losses & failed turnover in 2004-2005 but both PMH & NIM are profitable from December 2005.

So, in a nutshell, this announcement a) gives expanding Patriot massive support for its winching needs on deals like th $12.4m Keppel b) Provides possibility of more capital flowing PMHH's way from savings on NIM c)should generate more big deals as NIM were/are just not big enough to supply on deals such as Keppel one.

...so PMHH could be good for Monday?? I'll be watching from mid-day, and could be diving in again now early profit takers are out.

Posts: 318 | From: UK | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
The Owl
Member


Member Rated:
4
Icon 1 posted      Profile for The Owl     Send New Private Message       Edit/Delete Post   Reply With Quote 
Oilfields firm set fair with £20m in orders
By Mark Casci
A Shipley oilfield services company which does business all over the world has announced nearly £20 million worth of orders this year.

Global Marine Energy has contracts worth £19.4 million on its order book for the next 12 months.

The firm has acquired £10 million worth of new business since November alone and expects to announce a series of contracts in the coming weeks.

The firm has its headquarters in Shipley, where most of the design and engineering planning is done. The manufacturing is then done at its bases in Houston, Texas; Brazil and Singapore.

Finance director Andrew Gibson said: "95 per cent of our design work is done in Shipley.

"The majority of our business is done in the offshore oil and gas industries.

"Some of our business also involves producing access equipment such as doors etc for nuclear submarines and the Ark Royal.

"We turned over £12 million last year and are hoping to turn over £20 million this year."

The current contracts that the firm is working on are based in Brazil and Malaysia.

The firm was founded in 1988 and now employs 250 worldwide, 45 of whom are based at its Shipley headquarters.

The company was listed on the Alternative Investment Market (AIM) in 2001 and was restructured into two separate divisions in 2003, following the appointment of new chairman Philip Wood.

Patriot provides handling equipment to the offshore oil and gas industries while NIM Engineering ltd provides marine access to the gas and oil industries.

The firm, based on Wharf Street, changed its name from MOS International last year.

The company made the announcement of its new business contracts following a downturn in profits last year.

The losses, caused by extensive restructuring at the company, were overcome in the final quarter of the year up to March 2006 as the firm looks towards a brighter financial year.

Mr Wood said: "The year to March 2006 has still been one of substantial growth and, most importantly, the company has returned to profit in the final quarter."

e-mail:mark.casci*bradford.newsquest.co.uk

4:17pm Tuesday 4th April 2006

Posts: 318 | From: UK | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
The Owl
Member


Member Rated:
4
Icon 1 posted      Profile for The Owl     Send New Private Message       Edit/Delete Post   Reply With Quote 
Re Friday's EMCI deal, Patriot are getting loads of work, but so are NIM the other subsid.

This is their reply to me:
--------
'NIM are still a good product supplier in the market they operate. We are in a different, but sometimes “crossover” market for similar products.

I explained, NIM are tailor-made and EMCI are standard / much smaller winches.

EMCI do around 1500 winches per year for example.



We need a competent and short term supplier to meet the needs for our current “drilling package” quotations. NIM could do it, but they are fully loaded already. Therefore I took the decision to add a supplier to our capabilities



We do and will continue to promote the NIM range for the larger reelers etc.

EG< a number of companies approached me at OTC to gain quotations for the large reelers. The problem with the industry today, is they do not accept that in today’s market deliveries are way out and therefore they cannot simply get quotes, and orders placed with deliveries for this year for example.
-------------

Patriot is at a discount to GME its parent. Meanwhile UK GME trades on forward pe of only 4.6 against industry of c20. Altium capital raised GME target to 75p in January. GME cost only 24p!!! and PMHH only 37c!!!

Few know about this undervalued share - that will change when GME report their results in June and Mr Baer & auditors say value of PMHH should be nearer $2.

Posts: 318 | From: UK | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
The Owl
Member


Member Rated:
4
Icon 1 posted      Profile for The Owl     Send New Private Message       Edit/Delete Post   Reply With Quote 
Here is the start of your orders. 2nd biggest this year!! - more to come.

Patriot Mechanical Handling Announces $8.6 Million Marine Deck Crane Order From China National Petroleum Offshore Engineering Co, LTD
Monday May 8, 11:11 am ET


Order Represents the Fifth Contract Signed With Chinese Energy Producers Over the Past 12 Months


HOUSTON, TX--(MARKET WIRE)--May 8, 2006 -- Patriot Mechanical Handling Inc. (Other OTC:PMHH.PK - News), a leading provider of mechanical handling solutions and services to the oil and gas industry, is pleased to announce that it has received an order valued at $8.6 million USD from China National Petroleum Offshore Engineering Co, LTD. The order is for 8 marine deck cranes, spare parts, training and commissioning of the equipment. Training will occur in the Patriot facilities in Houston, with the cranes being delivered to Xingang Seaport, China, upon completion.
"We are making tremendous inroads in China, having secured multiple orders over the last 12 months, including this latest order for China National Petroleum Offshore Engineering," stated Paul Findlay, CEO of Patriot. "The growing demand for fossil fuels in China makes this country an important market for Patriot. We will continue to develop our relationships and expand our efforts not only in China but throughout the Far East."

About Patriot Mechanical Handling

Headquartered in Houston, Texas, USA, Patriot Mechanical Handling, Inc. (PMH) is a comprehensive engineering and product supplier for all mechanical handling solutions in the oil and gas industry. In addition to this, Patriot is a licensed representative for some of the finest & most well established brands in the lifting and mechanical handling business. Our success is based upon effectively meeting the customer's needs prior to, during and most importantly after the product has been delivered. Our personalized service is unrivaled. We frequently monitor the quality of our products to insure our customer's satisfaction, and offer equipment that is guaranteed safe for use and fit for purpose.

More information is available by contacting the company directly. Information is available on the web at: http://www.patriotmh.com.

This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.


Contact:
Contact:

Patriot Mechanical Handling, Inc.
Tel: 281-445-4745
Fax: 281-445-9839
E-Mail: Email Contact

Global Marine Energy plc
Philip Wood, Chairman
Tel: 01274 531 862

Capital Group Communications Inc
(415) 843-0200 office
(415) 843-0214 Fax

Posts: 318 | From: UK | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
Repoman75
Member


Rate Member
Icon 1 posted      Profile for Repoman75         Edit/Delete Post   Reply With Quote 
Down 18% today though Owl.... I'm getting ready to jump in tomorrow and was expecting a dip, but this thing is really dipping.

--------------------
Stick with Repo's plan in '07 - FRPT/DKAM!

Posts: 6379 | From: PA | Registered: Dec 2004  |  IP: Logged | Report this post to a Moderator
iamfine
Member


Rate Member
Icon 1 posted      Profile for iamfine     Send New Private Message       Edit/Delete Post   Reply With Quote 
it is strange that the news didnot push higher the PPS. but, the PPS does stay at 0.35 for quite a while
Posts: 221 | From: kentucky | Registered: Apr 2006  |  IP: Logged | Report this post to a Moderator
The Owl
Member


Member Rated:
4
Icon 1 posted      Profile for The Owl     Send New Private Message       Edit/Delete Post   Reply With Quote 
Well I've just bought more.
MM's are a crafty lot! Take no notice.

This order is for $8.6m but note lots of other orders - thats $21m announced orders plus lots of others...GREAT.

When people have stopped selling,watch price rush back to 50c, then up to $1 as the market catches on.

Posts: 318 | From: UK | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
iamfine
Member


Rate Member
Icon 1 posted      Profile for iamfine     Send New Private Message       Edit/Delete Post   Reply With Quote 
It is growing up. PPS at 0.38. Looking good
Posts: 221 | From: kentucky | Registered: Apr 2006  |  IP: Logged | Report this post to a Moderator
The Owl
Member


Member Rated:
4
Icon 1 posted      Profile for The Owl     Send New Private Message       Edit/Delete Post   Reply With Quote 
Plenty of volume, but the wrong way ...so far.

From a technical standpoint, they've timed the release badly. Thursday was 50c, & on way up. We'd be at 70c plus by now.

People will catch on soon enough.

Today was China. Lookout for Korea soon (see UK RNS)- they have a regional manager there since November, and Hyundai , Samsung & Daewoo heavy industries are 3 potential target clients.

One more $5m deal will take o/s orders to over $100m!!!! - and it's only May.

Posts: 318 | From: UK | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
The Owl
Member


Member Rated:
4
Icon 1 posted      Profile for The Owl     Send New Private Message       Edit/Delete Post   Reply With Quote 
Should fly tomorrow when news catches UK wires.

GME & PMH are due for signifcant re-rating.
Forward PE of only 4.6!!!

Posts: 318 | From: UK | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
The Owl
Member


Member Rated:
4
Icon 1 posted      Profile for The Owl     Send New Private Message       Edit/Delete Post   Reply With Quote 
Not how despite the sells, MM's are reluctant to drop the bid!

Tomorrow will be very interesting. I'll be buying up to 70c.

Posts: 318 | From: UK | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
The Owl
Member


Member Rated:
4
Icon 1 posted      Profile for The Owl     Send New Private Message       Edit/Delete Post   Reply With Quote 
Down today. Let's see how the MM's play it tomorrow.
They probably haven't spotted 'the news'.

Posts: 318 | From: UK | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
The Owl
Member


Member Rated:
4
Icon 1 posted      Profile for The Owl     Send New Private Message       Edit/Delete Post   Reply With Quote 
You in on today's $8.6m deal yet repoman, or just awaiting the right moment?
Posts: 318 | From: UK | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
Purl Gurl
Member


Rate Member
Icon 1 posted      Profile for Purl Gurl         Edit/Delete Post   Reply With Quote 
Owl, please provide financial reports for Patriot.
I find nothing and no hint of their financial
condition, other than pr news about contracts.

GME is not doing very well. Nonetheless, GME
is unrelated to Patriot. They hold a large
interest but this does not provide information
on the financial status of Patriot.

Patriot is landing a lot of orders but this does
not mean Patriot is profitable.

Without financial reports for Patriot, readers
can only guess and would be foolish to buy.

Your links do not work. One requires a logon,
the other does not exist. Patriot homepage
provides no financial data.

Purl Gurl

Posts: 7504 | Registered: Dec 2003  |  IP: Logged | Report this post to a Moderator
The Owl
Member


Member Rated:
4
Icon 1 posted      Profile for The Owl     Send New Private Message       Edit/Delete Post   Reply With Quote 
[huge 818,000 shares on GME today! Best volume this year]

Purl
Patriot IS profitable & has been since December 2005. You need to know where to look.

There are 10 institutions with 60%.

You have a good point re the financials. The audit is being done now. Mr Kirk Baer CFO reports next month.

http://www.moneyextra.com/stocks/companynews/

Here's the link. Key in GME for Patriot news as GNE is Patriot's parent so it's under there.

There were a huge 818,000 shares traded in GME!! Nearly all buys & lots of cross and broker to broker trades. This is the best GME volume this year!!! Last trade was 200,000 on level 2.

Patriot is now at a huge discount to it's parent, yet Patriot IS the reason why GME is doing so well now.

Posts: 318 | From: UK | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
The Owl
Member


Member Rated:
4
Icon 1 posted      Profile for The Owl     Send New Private Message       Edit/Delete Post   Reply With Quote 
Today's action on GME!

http://today.reuters.co.uk/stocks/Quote.aspx?symbol=gme&fs=1

Posts: 318 | From: UK | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
MickeyG
Member


Rate Member
Icon 1 posted      Profile for MickeyG         Edit/Delete Post   Reply With Quote 
GME IS NOT!! PMHH keeps going down,not up,NO VOLUME!!!!!!
Posts: 249 | From: NY | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
Purl Gurl
Member


Rate Member
Icon 1 posted      Profile for Purl Gurl         Edit/Delete Post   Reply With Quote 
Owl writes,

"Patriot IS profitable & has been since December
2005. You need to know where to look."

Please provide a link to their financial reports.

Owl also writes,

"The audit is being done now. Mr Kirk Baer CFO
reports next month."

Please provide a link which documents this audit.

Owl again writes,

"Here's the link. Key in GME for Patriot news...."

I have already researched GME. You are suggesting
Patriot stock which is clearly not GME. I want
to research Patriot financials.

You appear to be confusing GME with Patriot.
Those are two different companies. Patriot
is the topic of your thread, not GME.


Purl Gurl

Posts: 7504 | Registered: Dec 2003  |  IP: Logged | Report this post to a Moderator
The Owl
Member


Member Rated:
4
Icon 1 posted      Profile for The Owl     Send New Private Message       Edit/Delete Post   Reply With Quote 
Purl Gurl, I hope you can read because I am posting here everything you ask for. You might have to read a couple of paragraphs down if you want to see the info specific to Patriot.

By buying PMHH you are buying the US listing of a profitable (since Dec 2005) and regulated UK company!

HERE GOES (AGAIN!)

Global Marine Energy is a UK company.
It has Two subsidiaries.

One is called Nim engineering
The Other is Called Patriot Mechanical Handling

Blimey....

In answer to your specific questions (and I really don't know why I bother...lol)

1) I cannot give you financials on Patriot alone because they do not yet exist SEPARATELY.

They are being prepared. Patriot results are CONSOLIFDATED that means NIM and Patriot added together under the parent company.

I have attached the last set below...perhaps when you then compare them to the orders, you will see why I'm posting so much for you guys!!!

Here is a copy of the RNS on Patriot's website which explains!

Press Release

Patriot Mechanical Handling Appoints Mr. Kirk J Baer to Position of Chief Financial Officer
Tuesday January 17, 9:51 am ET

HOUSTON, TX--(MARKET WIRE)--Jan 17, 2006 -- Patriot Mechanical Handling Inc. (Other OTC: PMHH.PK - News ), a leading provider of mechanical handling solutions and services to the oil and gas industry, is pleased to announce that it has appointed Mr. Kirk J Baer as the company's Chief Financial Officer. Baer's immediate responsibility is to prepare the company for an outside audit, in anticipation of retaining a firm to assist the company with meeting voluntary reporting requirements.

Paul Findlay, CEO of Patriot, commented, "We are glad to have Kirk on board to assist with getting our financials organized and prepared for an outside auditing firm. Patriot intends to have its financials audited and to voluntarily report, so as to provide our shareholders, vendors and customers a high level of confidence in our company and its future growth."

http://biz.yahoo.com/iw/051121/0101975.html Yahoo! Finance


2) HERE ARE PMHH PLUS NIM ACCOUNTS - THEY ARE CONSOLIDATED UNDER A COMPANY CALLED GME BECAUSE THIS IS THE PARENT COMPANY.

Global Marine Energy PLC
28 December 2005


GLOBAL MARINE ENERGY

Interim Results
For the Period ended 30th September 2005

Global Marine Energy ('GME'), the oilfield services company, today announces its
Interim Results for the six months ended 30th September 2005.

Key highlights:

• Continued progress made in restructuring business, rationalisation
programme complete;

• Steady increase in order levels experienced;

• Sales team expansion into new territories proving successful;

• Enquiry levels high, new customers won;

• Gross Profit £1.52 million; overall loss including rationalisation costs
£496,844; and

• Current order book £11.3 million

Post Period events:

• New Broker and Nomad appointed;

• £4.75 million placing; and

• New banking facilities now in place with RBS.

Philip Wood, Chairman, Global Marine Energy Plc commented:

'The results reflect the reorganisation costs and the restrictions we have been
working under due to the cash constraints. Despite this we have attracted major
new customers and continued to expand internationally.

The Company is now trading profitably and the monies from the Placing and the
new bank facilities should allow us to accelerate our growth. GME is now
properly funded and as a result the Board is confident that it can continue to
grow turnover and to increase profitability.'

28th December 2004

For further enquiries contact:

Philip Wood, Chairman, Global Marine Energy plc 01274 531 862

Adam Westcott, Noble & Company Limited 0131 225 9677

Michael Padley / Susan Scott, Bankside Consultants 0207 367 8888


Chairman's Statement

The results for the half-year reflect the reorganisation costs and the
difficulties that we have been operating under due to the continual lack of
working capital. However, turnover did increase in the period. Order books
continue to grow and tender enquiries to rise. Gross profit for the six months
was £1.52 million (Year to March 2005 £1.42 million). Turnover increased 167% to
£4.12 million.

The losses, for the period, whilst disappointing include the last of the
rationalisation costs relating to the recent acquisitions. We have removed a
further amount of fixed cost from the business and fully integrated the
acquisitions into two divisions: Patriot and NIM. We are trading profitably but
the benefit of the action we have taken and the re-financing carried out in
November will not be fully reflected until the next financial year.

In the period we have won significant orders from China, Mexico, Brazil,
Singapore and USA. We have also expanded our international presence by
appointing an agent in Korea and a Sales Manager, based in Brazil, to build upon
Patriot's success in South America and most recently one in Asia.

Underlying confidence is high, we are continuing to win new clients and to
increase the order book which currently stands at £11.3 million.

Post Period Events

Although we have continued to win new orders the most important event was the
re-financing of the business. In November we completed a very successful Placing
which attracted a number of the UK's leading institutions and raised £4.7
million (before costs). I also converted my loan to the Company into shares. We
have also finalised the new banking facilities with RBS in Leeds.

As a result we now feel that GME is properly financed for the first time in its
history, and that we now have the funding to grow the business and to take
advantage of the work carried out by the Board over the last 2 years.

Outlook

We have completed the rationalisation and integration of the businesses and we
have expanded the marketing into new territories. As a result of these actions
being taken the Company is now trading profitably and attracting new customers,
worldwide. The Board is confident that it can continue to grow turnover and to
increase profitability.


P Philip Wood
Chairman 28th December 2005


GLOBAL MARINE ENERGY

CONSOLIDATED PROFIT AND LOSS ACCOUNT
for the six months ended
30th September 2005
Unaudited Unaudited Audited
six months six months year
Ended Ended Ended
30 Sept 2005 30 Sept 2004 31 March
2005

Turnover
Continuing operations 4,124,225 1,545,317 4,611,710

Cost of sales 2,607,586 891,535 3,187,730
-------- ------- -------

Gross profit 1,516,639 653,782 1,423,980

Administrative expenses 1,907,638 1,433,351 3,618,195
-------- ------- -------
Operating loss
Continuing operations (390,999) ( 779,569) (2,194,215)

Exceptional items 25,395 121,223 235,558
Interest payable less interest
receivable 70,160 79,076 128,886
-------- ------- -------
Loss on ordinary activities
before taxation (486,554) ( 979,868) (2,558,659)

Taxation - - 3,121
-------- ------- -------

Retained loss for the period (486,554) ( 979,868) (2,561,780)
-------- ------- -------

Minority interests 10,290 - 1,395
-------- ------- -------

Loss for the financial year (496,844) ( 979,868) (2,563,175)
-------- ------- -------

Loss per Ordinary share: Pence Pence Pence
basic ( 0.043) ( 0.134) ( 0.35)
diluted ( 0.043) ( 0.134) ( 0.35)


GLOBAL MARINE ENERGY

CONSOLIDATED BALANCE SHEET
as at 30th September 2005
Unaudited Unaudited Audited
six months six months year
Ended Ended Ended
30 Sept 30 Sept 31 March
2005 2004 2005

Fixed assets
Intangible assets 504,608 20,457 534,608
Tangible Assets 205,792 91,757 169,671
------- ------- -------
710,400 112,214 704,279
Current assets
Stocks 2,584,230 1,118,959 1,562,184
Debtors 2,245,140 840,608 1,718,976
Cash at bank and in
hand 110,536 91,900 331,643
------- ------- -------
4,939,906 2,051,467 3,612,803
Creditors: Amounts falling
due ------- ------- -------
within one year (4,376,357) (1,645,441) (3,654,098)
------- ------- -------

Net current
assets/(liabilities) 563,549 406,026 ( 41,295)
------- ------- -------

Total assets less
current liabilities 1,273,949 518,240 662,984
------- ------- -------
Creditors: Amounts falling
due after
more than one year ( 459,399) ( 325,000) (325,000)
------- ------- -------

Net assets 814,550 193,240 337,984
------- ------- -------
Capital and reserves
Called up share
capital 315,419 183,253 254,346
Shares to be issued 215,517 - 215,517
Share premium account 5,960,914 3,618,821 5,058,867
Merger reserve ( 99) ( 99) ( 99)
Profit and loss
account (5,688,886) (3,608,735) (5,192,042)
------- ------- -------
Equity shareholders'
funds 802,865 193,240 336,589
------- ------- -------

Minority interests 11,685 - 1,395
------- ------- -------

814,550 193,240 337,984
------- ------- -------

GLOBAL MARINE ENERGY

CONSOLIDATED CASH FLOW
for the six months ended
30th September 2005
Unaudited Unaudited Audited
six months six months year
Ended Ended Ended
30 Sept 30 Sept 31 March
2005 2004 2005


Cash flow from
operating activities (1,046,112) ( 807,706) (2,302,778)

Returns on investments and
servicing of finance:
Interest paid ( 74,173) ( 84,631) ( 134,432)
Interest received 4,013 5,555 5,546

Capital expenditure
and financial ( 62,926) ( 6,762) ( 41,031)

Acquisitions and
disposals - ( 256,854) ( 266,203)
------- ------- -------

Cash inflow/(outflow)
before financing (1,179,198) ( 1,150,398) (2,738,898)

Financing 1,385,551 1,117,348 2,547,562
------- ------- -------

Increase/(decrease)
in cash in the period 206,353 33,050 ( 191,336)
------- ------- -------


GLOBAL MARINE ENERGY

NOTES TO THE CONSOLIDATED CASH FLOW
STATEMENT

Unaudited Unaudited Audited
six months six months year
Ended Ended Ended
30 September 30 September 31 March
2005 2004 2005

Reconciliation of operating profit

to net cash flow from operating
activities

Operating (loss) ( 390,999) ( 779,569) (2,194,215)
Depreciation and amortisation
charges 56,805 22,545 91,665
Loss on sale of fixed assets - - ( 69,215)
(Increase) in stocks (1,022,046) ( 310,975) ( 664,841)
(Increase) in debtors ( 526,164) ( 156,610) ( 935,997)
Increase in creditors 861,687 538,126 1,654,752
Exceptional items ( 25,395) ( 121,223) ( 235,558)
Share based payments - - 50,631

------- ------- -------
(1,046,112) ( 807,706) (2,302,778)


Reconciliation of net cash flow to
movement in net debt

Increase/(Decrease) in cash in
the period 206,353 ( 33,050) ( 191,336)

------- ------- -------
Change in net debt resulting from
cash flows ( 559,400) 2,556 5,132

Movement in net debt in period ( 353,047) ( 30,484) ( 186,204)

Net debt at beginning of period ( 716,597) ( 530,393) ( 530,393)

Net debt at end of period (1,069,644) 560,877 ( 716,597)


SELECTED NOTES TO THE INTERIM REPORT
For the six months ended 30 September 2005

1) Accounting policies

The interim report has been prepared on a basis consistent with the policies
adopted in the
Annual Report and Accounts for the year ended 31 March 2005.

The interim report has been approved by a duly appointed committee of the Board
of Directors and is unaudited. The auditors have not carried out a review of the
interim report.

The interim report does not constitute statutory accounts within the meaning of
section 240 of the Companies Act 1985. The information for the year ended 31
March 2005 has been extracted from the statutory accounts to that date which
have been delivered to the Registrar of Companies.

2) Dividend

No dividend is proposed to be paid in respect of the period.

3) Reconciliation of movements in shareholders' funds

Unaudited Unaudited Audited
six months six months Year
Ended Ended Ended
30 September 30 September 31 March
2005 2004 2005

Loss for the financial period ( 496,844) ( 979,868) (2,563,175)

Issue of equity shares 963,120 1,119,914 2,631,053

Shares to be issued - - 215,517

Opening shareholders funds 336,589 53,194 53,194

Closing shareholders' funds 802,865 193,240 336,589


Further copies of this interim announcement are available from the company's
registered office at: Unit E, Shipley Wharf, Wharf Street, Shipley BD17 7DW


This information is provided by RNS
The company news service from the London Stock Exchange

Posts: 318 | From: UK | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
The Owl
Member


Member Rated:
4
Icon 1 posted      Profile for The Owl     Send New Private Message       Edit/Delete Post   Reply With Quote 
Here is the UK Keppel announcement (just so you don't think I have the wrong Patriot company etc)


Global Marine Energy PLC
30 January 2006


Global Marine Energy Plc

$12.4 Million Mechanical Handling Equipment Package Order
from Keppel FELS

Global Marine Energy Plc, ('GME'), the oilfield services business, announces
that its US-based subsidiary, Patriot Mechanical Handling Inc, ('PMH') has
received an order valued at US$12.4 million USD from Keppel FELS in Singapore.

The order is for 2 rig sets, comprising a complete mechanical handling package,
for new build semi-submersibles currently on order to Keppel FELS from ENSCO
International, Inc. The order calls for Patriot to deliver a Riser Gantry
crane, marine deck cranes, BOP Handling, and tree handling systems, and to
provide training, spare parts and commissioning services. Delivery is scheduled
for Q2 2007 for the first rig set, and H2 2008 for the second.

Paul Findlay, President and CEO of PMH, stated:

'This order is extremely significant in that we are to provide a complete
package for all handling operations on and around the rigs. This order
exemplifies and reinforces our strategy of pushing the complete packaging of our
equipment for mechanical handling solutions to the offshore drilling industry.

We are now aligned with the offerings of other companies in our industry.
Combined with our streamlined operational structure, this product offering gives
us the ability to be a strong competitor.'

Philip Wood, Executive Chairman, Global Marine Energy added:

'We are very pleased to have the opportunity to work with Keppel FELS again, and
to have put together a package to meet their total mechanical handling equipment
needs. This is very important for GME and bodes well for the future, and
although it will not impact on the current financial year it opens up new market
opportunities which we are confident that we can exploit.'

30th January 2006
ENQUIRIES:

Global Marine Energy Plc Tel: 01274 531 862
Philip Wood, Chairman

Noble & Company Limited Tel: 0131 225 9677
Adam Westcott

Bankside Consultants Tel: 0207 367 8888
Michael Padley / Susan Scott


Editors' Note

About GME
Headquartered in Shipley, Yorkshire, Global Marine Energy Plc ('GME') is an
oilfield services business with a strong emphasis on supplying equipment for
offshore drilling and exploration. The Company has two wholly-owned
subsidiaries: the Houston-based Patriot Mechanical Handling, Inc. ('PMH'),
providing comprehensive engineering solutions for mechanical handling to the
offshore oil and gas industry; and the Newcastle-based NIM, which provides
handling and access equipment to the engineering, oil and gas and marine
industries.

About Keppel FELS
Keppel FELS is a wholly-owned subsidiary of Keppel Corporation, a leader in
offshore rigs, ship repair and conversion and specialised shipbuilding. Keppel O
&M's near market, near customer strategy is bolstered by a global network of 17
yards in the Asia Pacific, Gulf of Mexico, Brazil, Caspian Sea, Middle East and
North Sea regions. Integrating the experience and expertise of its yards
worldwide, the group aims to be the provider of choice and partner in solutions
for the offshore and marine industry.


This information is provided by RNS
The company news service from the London Stock Exchange

Posts: 318 | From: UK | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
The Owl
Member


Member Rated:
4
Icon 1 posted      Profile for The Owl     Send New Private Message       Edit/Delete Post   Reply With Quote 
Now (and this might confuse you). I am going to give you the ORIGINAL post when Patriot listed on the OTC.

The reason it might confuse you is that Global Marine Energy is the NEW NAME for MOS International!! - tell you what I'll post that RNS as well.

Here's the OTC one...

MOS International PLC
11 May 2005


MOS International plc

PMH lists on OTC


MOS International plc, ('MOS' or 'the Company'), the oilfield services business,
announces that its subsidiary, Patriot Mechanical Handling Inc ('PMH'), based in
Houston, Texas, is to list on the Over The Counter Bulletin Board ('OTCBB') in
New York.

This was effected by the company reversing into a 'shell' corporation.

MOS International plc will own approximately 72% of the OTCBB quoted entity.
Although this will reduce as and when further capital is raised to fund the
expansion of PMH, MOS will continue to have a controlling interest in PMH for
the foreseeable future.

Philip Wood, Chairman, MOS International plc commented:

'Having an American-listed subsidiary will significantly increase the profile of
PMH in the US market which will help us to capitalise on the current high level
of activity in the oil services sector.

'Gaining a separate quote for PMH is a small but important step in our strategy
to develop the US business and as well as increasing PMH's profile it will also
give MOS access to an additional source of funding that will enable PMH to take
advantage of the opportunities that are available.'


11th May 2005

ENQUIRIES:

MOS International plc Tel: 01274 531 862
Philip Wood, Chairman

Patriot Mechanical Handling Inc. Tel: 001 281 445 4745
Paul Findlay, Chief Executive

Bankside Consultants Tel: 0207 444 4140
Michael Padley / Susan Scott


This information is provided by RNS
The company news service from the London Stock Exchange


HERE IS THE CHANGE OF NAME
MOS International PLC
18 November 2005


MOS International plc

Change of Name
to
Global Marine Energy plc

MOS International plc, ('MOS'), the oilfield services business, announces that
pursuant to the resolution passed at the Company's annual general meeting held
on 24 October 2005, the Company has changed its name to Global Marine Energy
plc.

In addition the Company has amended its EPIC code to GME. This change will take
effect from Monday.


This information is provided by RNS
The company news service from the London Stock Exchange

Posts: 318 | From: UK | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
The Owl
Member


Member Rated:
4
Icon 1 posted      Profile for The Owl     Send New Private Message       Edit/Delete Post   Reply With Quote 
Here is the reason why 818,000 GME shares today even though news has not come out officially.

http://finance.yahoo.com/q?s=pmhh.pk

Posts: 318 | From: UK | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
jordanreed
Member


Icon 1 posted      Profile for jordanreed     Send New Private Message       Edit/Delete Post   Reply With Quote 
golly gee whiz...now i'm totally cornfused...too much bs for me..are there any other stocks you like??maybe one that doesnt pay you to pump?

--------------------
jordan

Posts: 5812 | From: st paul,mn | Registered: Feb 2004  |  IP: Logged | Report this post to a Moderator
jordanreed
Member


Icon 1 posted      Profile for jordanreed     Send New Private Message       Edit/Delete Post   Reply With Quote 
quote:
Originally posted by The Owl:
Here is the reason why 818,000 GME shares today even though news has not come out officially.

http://finance.yahoo.com/q?s=pmhh.pk

actually, only 253,900 traded today

--------------------
jordan

Posts: 5812 | From: st paul,mn | Registered: Feb 2004  |  IP: Logged | Report this post to a Moderator
  This topic comprises 4 pages: 1  2  3  4   

Quick Reply
Message:

HTML is not enabled.
UBB Code™ is enabled.

Instant Graemlins
   


Post New Topic  New Poll  Post A Reply Close Topic   Feature Topic   Move Topic   Delete Topic next oldest topic   next newest topic
 - Printer-friendly view of this topic
Hop To:


Contact Us | Allstocks.com Message Board Home

© 1997 - 2019 Allstocks.com. All rights reserved.

Powered by Infopop Corporation
UBB.classic™ 6.7.2

Share