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What contract?
Amec may have this contract, will know soon,,Wgpsn have lost this contract after 15yrs !!
Hi Robster63 - I agree with you and there have been a number of other places that are suggesting it as a share to buy.They are 'cheap as chips' and in my opinion a good buy. GLA
Tipped in The Fleet Street Letter as a good recovery share, as oil and resources seem to be recovering after the recent slump could well be some upside here.
Hi All Link to see AMFW CEO on Bloomberg TV - worth looking at: hTTp://www.bloomberg.com/video/north-sea-oil-industry-needs-to-reinvent-itself-brikho-XpxJUpuYS0S7U_RavMjz7Q.html Lets hope we will now see an improvement in the SP
Sell shares of Amec, Danny Fortson advised in the Sunday Times. A year ago the oil services company paid £2bn in cash and shares for Swiss-listed rival Foster Wheeler. Its other option was to hand cash back to shareholders. Since then the oil price has halved, shale producers have cut spending and Russia is in dire financial straits. The Foster Wheeler deal was meant to increase business from both shale operators and Russia.
Just noticed - Looks good - saves cost and makes profit!! Just a shame about the oil industries (temporary ) nervousness about the low oil price.
Not too worried by the drop as it follows the FTSE100 fairly as does my fairly balanced portfolio. Both of which stood well against the recent vertically southwards slide of the FT. I'm in for dividend and steady capital appreciation over years the contracts and future look good for that.
Hopefully we now may see a gradual increase in the SP. I have recently received communications from AMFW about contract awards the news of which does not seem to have effected the SP. I am hoping that the AMFW forecast post their 31st December year end is positive.
Bad news is that it dropped 6% in today's session. Good news (potentially) is that the sp found solid support at 990p a few times this year. So, if negative sentiment moderates tomorrow, it could provide a good 'buy' opportunity.
I agree with you eddygrundy I believe it is the tie up with FW whose recent forecast was down on what I believe was expected when the deal went through. In addition people can now trade on the LSE and can see the SP slide and others are following. I am 7% down since the 17th November when I put through a dummy sale through to see what the position was. It is now a matter of holding and hopefully FW year end results (31st Dec 14) will show an improvement .
sp taking a bit of a dive at the moment .... reaction to the tie up with fw ? maybe things not going as well as was expected although its early days ...
chris211 I hope you are right having worked for FW many years ago in the Offshore Oil industry in London I never thought I would ever be a shareholder.Hopefully there will be savings generated from their combining head offices etc.