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Member Info for Skooby


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Member Since: Fri, 9th Jul 2010

Number of Share Chat Posts (all time): 2,557
Number of Share Chat Posts (last 30 days): 0

Last Posted: 29 Apr '16



29 Apr '16

Thanks for your comments about my blog. Just sayin it as I see it. Sorry to hear you've given up and sold. It'll probably bring you some peace now though which is always a good thing. You'll understand if I don't wish for you and us that you've made the right decision to sell as I personally think that there's every chance things will stage a spectacular recovery from here. As a big holder my money is where my mouth is. :) However, I do wish you all the success in the world with your GDG shares and sincerely hope that their earnings and capex expand rapidly this year. ATB skoob
23 Apr '16

Been a while since I posted. Just been digesting the results. Interesting to see those trades at the end on Friday. Who knows what they mean tbh but I don't really care as it's solid work that matters and not trades. I feel it's been a carp year all round for o&g so I wasn't expecting too much from our results. In fact I think they could have been a lot worse actually and I was bracing myself for that. We are clearly just treading water at the moment which as we all know have been doing for a while. The loan imo was sensible and allows us to continue treading water whilst maintaining our crews and our ability to respond to an upturn. Far better than some silly dilution which I'm sure you all agree would be a very bad way to manage this downturn. Hats off to RG for not diluting us.

The big thing is imo, when are we gonna get more from the mothership? Maybe I'm just deluded (please don't bother to respond to that crash/trion) but I think that more will come towards the end of summer. GDG have been consolidating and monetising their product for the last 18 months or so and are coming into a position to secure a decent RBL. Hopefully with a good RBL deal for them they can move towards expanding their drilling programme for us. There is absolutely NO indication that they will not be using us and so when, and NOT if, they get the finances sorted I can see that we will get the required work to really start our own expansion. We are essentially on hold until then.

India may come good in the long run as well who knows? Not going to pin any hopes on that after the huge losses from the programme that seemed so hopeful before but has faltered. It's not a massive start having 2 rigs on daily rate for Essar but it IS a start. It keeps our crews busy and let's not forget how important that is. It's important to keep our crews employed as it took a lot to train them and they have families etc. so need to be kept employed and working ready for the upswing. As I understand it, we still maintain a good position in terms of rigs and crew to be able to respond to any significant order for work. Lets hope we get one.
16 Mar '16

Thanks for the broker note info. Lets hope there's some cheer coming in the middle of the year with new GDG mob orders. It's about time we get our teeth into something bigger and if the revs for GDG do truly go up because of this subsidy to promote CBM then it should filter down to us with a lot more activity. I've been banging the "Chinese need to" drum for a long time but china really does need the cleaner gas use of their coal rather than simply just digging it up and burning it. The pollution in many parts of China is fearful. In many cities its a major cause of ill. The backlash is only getting bigger every year and the gov are trying to turn around the juggernaut and move to cleaner gas. I know how bad the pollution is first hand because I've been there many times. That's why the gov is upping the rates and trying to promote more CBM. It's a good step for GDG and hopefully for us as their driller. Just my opinion of course and so far I've been horribly wrong... :)
10 Feb '16

Well done chaps for trying to engage the troll. A medal of valour in the post to you both... I always think about saying something to it then think better of it as all he/she/it wants is to get you hooked then blast you with some half researched truths mixed with deliberate falsehoods and disingenuous questions. Honestly, accusing a FTSE main listed company of fraudulently booking work as free training is desperate madness.

He/she/it's been returning anytime there's a whiff of trouble or doubt in the air for a number of years. Very tediously. Always with new multiple ID's and probably with new IP addresses each time to avoid tracing. It even has conversations with itself sometimes and once very clearly and obviously got confused and addressed the wrong avatars as itself and was caught out by us all.

It's bad enough to see one's well researched investment losing money but to have some nasty keenly sniffing around trying to create FUD is seriously offensive.

Cheers
5 Feb '16

Well, I'm not really sure what to think. A bit ambivalent. Would have preferred a bit more black and white in the news but my reading for what it's worth is that it looks like we have finished the 30 wells and are now doing some reworks that from memory were vaguely mentioned somewhere in the dim past. I imagine there is not much of that programmed or it would have been said more clearly. Anyway, RG is a proven master at cost saving in lean times and until GDG comes through with the next tranche for the next load of Lifabs (end q2 hopefully) it looks like a few months of lean activity. I also read it that the loss from the India issues has been mostly written off in the last results already, so hopefully this years revs will turn out not too bad in April. That's all I can say for now really as we don't know much other than we're treading water till gdg catch up cash for capex.

On another point which is depressing the overall market, I don't personally see oil remaining at $30 for long. 6 months tops then off towards $60 again. The pain has been felt all last year by everyone in O&G and the news from the majors laying off staff has shocked their share prices as well. For me the news of lay offs in the majors signals the low is near. The Iranian overhang is already in boats having been shipped. Soon it will be gone and only 500k per day extra supply worldwide from them. The demand side has not stopped rising last year btw and the percentage gap between the two is smaller than ever. It will continue to rise until it meets supply again and we know what will happen then. I personally invested in some oil funds yesterday as I see certain companies performing very well when the inevitable does happen. 60$ coming within a year is my guess. All just my opinion of course and like everyone here I have one! :)
20 Jan '16

Well chaps, only a little over two weeks to go till the update. Mind you in this current market two weeks might seem a long time! I see the UK £ has fallen from the 1.52 area to 1.41 in around a month. That's a pretty severe drop and not showing much sign of abating. With our revenues in USD it should count in our favour for the sp being priced in pounds. Clearly it hasn't done so far but that's not to say it won't if the results come in as expected and the pound stays depressed which it looks likely to do. Cheers All
13 Jan '16

Hi Jimmy. Hope you're well. It appears they must now have that facility because they're definitely here today. I'm guessing they must have done at least some of the buying during the drop to be able to hold enough liquidity to make a market. Lets hope it's a sign of confidence from them.
13 Jan '16

Not sure whether it has any relevance or not but when panure joined in the other mm's here last year they were almost always miles below every other one of them at the bottom of the bid. They departed a while back and today arden have joined the party. At least for now they appear to be the highest of the mm bids. Hope it's an omen of good things coming :)
12 Jan '16

You are wrong to chastise yourself for not averaging down. You should be very pleased indeed that you haven't so far. The same money spent today that you might have spent earlier would now seriously average you down. Not suggesting that you do it, only pointing out how much you have not lost from the practice of doing it too early as I did.

As I said before, RG wants to play it like a major and only release info quarterly. Fair enough it's his operation and I pretty much agree. He thankfully was keen to commit to posting the dates for the updates on the web site which at least gives us all clarity about when we will next be updated. It allows me to sleep a bit easier knowing that there simply isn't going to be news unless a major event has occurred.

I could be horribly wrong but there's so much gloom in the world at the moment that I'm hopeful its oversold both in china and by extension here for us too. It was after the first Chinese crash during our night time that we had our big sell off here and it was almost certainly inspired by that rather than anything actually related to Greka. All we can do is try to be patient till Feb and switch off. I'm looking forward to getting outta my pit at 7am for a change.. :D


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