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Back in @80p.
Hydrogen starting to take off and COP26 mandating methane capture/processing vs venting/flaring could benefit PRES's order book.
The £7.5M fundraise was nearly a year ago. I hope there'll be a trading update on final results and how the Hydrogen strategy has progressed soon.
I wonder which II took the 14% @78p. Should be an RNS or two in the next few days.
GLA
Agree that the PR is rather lacking. The company undoubtedly has a bright future if hydrogen is widely adopted as part of the energy transition. The UK government is due to release it's hydrogen strategy soon (I believe this month), so maybe that'll be the catalyst for some PR/news on contracts and collaborations
For individuals, the RNS is a reactive source of news about UK companies. This news could form the basis of some traders’ decisions to open or close a position, which means that the financial markets are very reactive to RNS announcements.
Or lack of them...
And by the looks of the share price, many others too
That's great and all Cacher but if they don't announce the contracts they win, there's no point being here for me....
Lol! Just shows we can't all get it right all the time! Well wrong footed there but my concerns remain hence the switch to Vnet. I'm fairly certain it will prove a decent move over 3 months but I'd have been better waiting 48hrs.....hey ho.
Availability and cost of steel is going to be a key factor in keeping margins as existing contracts may have little leeway. I can't see a great improvement in the near future as the nature of the end products requires premium class raw material and margins/bottom line will suffer. Once we get a clearer picture into 2022 I'm more than happy to revisit as it's a good company.
Hope you're correct it's just the time lag before we know one way or another and I get the feeling it will tread water for 6 months. That means I can get a better return elsewhere and reinvest here in due course. Having said that, things could progress rapidly here with a few good contracts and I may miss the boat. Not an easy call, but one I've made on a gut feeling.
Hopefully they've sorted out any future anticipated Steel supply issues.
"Long-term supply agreement established with steel tube manufacturer, Vallourec and strategic stock orders placed to meet hydrogen-related demand outlook and lead times"
I'm surprised they didn't make more of a deal about the new contract(s) with SHELL for H2 storage across Europe.
I'm also surprised it wasn't RNS'd in its own right.
Never mind! H2 storage/fuel cell contracts are increasing at a good pace, which is what i wanted to see.
Nice that the MOD contract order book is up 75% on same period last year and the Cylinder division's increase in Hydrogen related revenue more than made up for the O&G decrease in profits for the period.
The outlook is sound but some way off from here given the constraints on steel supply primarily. If material availability and cost pressure hold back progress that is a brake to this year's earnings. Hopefully Vianet will benefit quickly and I'm happy to reinvest here in 6 months time as progress is more visible.
I can understand your frustration Adastra.
From reading the RNS, i was expecting 15% up not 15% down.
Decided to take the hit this morning and sold at a small loss as the outlook seemed sisyphean. Thankfully I was able to bunnyhop on to Vianet which itself saw a disproportionate drop this morning and pick up virtually the same number of shares. Been watching the latter as it's prospects should quickly pick up from here. Better of the two looking at market reaction but miffed that Pressure didn't get the traction due to a combination of factors. Heyho that's life.
Hopefully Pressure Tech are gaining the traction they envisaged and have banked the delayed MoD contract funds etc. I am expecting a really good update on the European hydrogen rollout with strongly visible indicators of cash flow.
20k seller back. 20k today 27k friday
I think £1.80 forecast is highly conservative given the outlook in both lockdown and business progress. Money has dropped into the coffers from large MoD extended contract during this period and uplift in o&g plus, as you say, pressurised H2 and N storage looks compelling for this specialist. As all pressurised equipment needs mandatory annual validation, the company should also be playing catch up and run soon if not already.
I doubt that 10k/20k seller will be selling more before interim results.
If they do i'll be hoovering them up :)
Share needs to get past the 10k/20k seller that keeps offloading
An interesting read on Hydrogen, its storage and role in decarbonisation.
Bodes well for companies capable of manufacturing storage vessels for H2
https://spectrum.ieee.org/energywise/energy/the-smarter-grid/time-for-utilities-to-learn-to-love-hydrogen
That's a couple of the reasons i'm here Adastra.
Most importantly, as you mentioned, PRES (through their subsidiary CSC) will be well positioned to take advantage as the world moves towards a more robust decarbonisation effort.
Whether its large specialist cylinders for Hydrogen fuel storage or large specialist Nitrogen storage cylinders for Nuclear power cooling, PRES should have started seeing an uptick in their order book.
The recent contracts with behemoths EDF and Ingersoll for Hydrogen fuel storage speaks volumes.
At some point this will be reflected in a rerate of the share price, hopefully to the levels seen 5 years or so ago.
I am in agreement with the 12 month broker forecast of £1.80.
Cash flowing in....2 recent updates bode well.
CSC has a strong order book going into FY21, with high-margin projects, including the defence contract deferred from FY20, weighted to the first half of the year.
And from February
Pressure Technologies (AIM: PRES), the specialist engineering group, is pleased to announce that the outstanding principal of £3.1 million on the Promissory Note, payable under the Framework Agreement with Greenlane Renewables Inc., Creation Partners LLP and Brad Douville (the "Framework Agreement") announced on 3 July 2020, has been repaid in full, together with an interest payment of £0.3 million.
Repayment has been made earlier than the previously announced Promissory Note final maturity date of 30 June 2021 and concludes all arrangements made under the Framework Agreement
Looking good imo
The G7 needs to put more pressure on the adoption of Hydrogen as a fuel;
Both through environmentally clean sources and through incentivising the refiners to remove the carbon from fuel at source to provide a cleaner fuel.
Hydrogen in my opinion certainly has the best potential for quick adoption as decarbonisation needs rapidly increase.
Methane can easily be converted to Hydrogen and a CH4/H2 mixture piped through existing gas infrastructure, greatly reducing CO2 output whilst increasing efficiency.
Only issue is storing the Hydrogen. It needs specialist large cylinder equipment in between the refineries and pipelines/customers.
A key U.K. energy hub could become a major hydrogen producer in the coming decades, potentially supplying London and helping the nation meet its clean-energy targets, according to a report from the country’s oil and gas regulator.
https://www.bloomberg.com/news/articles/2021-06-08/u-k-sees-big-future-in-hydrogen-for-england-s-key-gas-hub