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Little tick up yet still NT.
Popcorn ready :)
Make that none left now
It will, not enough stock around at these levels
Thats why I’m surprised it’s not moving upwards. Ah well not long now until we get updates and everything now will be insignificant :)
Stock is very tight so mm's happy to trade it sideways. Any volume and it will go up
Deffo!
Curious, we have £18k buys to £4K sells, so why is the SP trading sideways???
Especially with money flowing into the sector from all areas of the world. Nice 80k buy earlier
Share float £7m and debt free.
Excited to see the outcome of finance for expansion / collaboration/ merger / takeover talks :)
This year is set to be one of the busiest for offshore wind developers and governments around the world as a multitude of new sites are scheduled to be awarded for offshore wind farm construction.
https://www.offshorewind.biz/2023/01/02/five-offshore-wind-auctions-coming-up-in-2023/
Ireland
The Irish government recently approved terms and conditions for the country’s first auction to supply electricity from offshore wind under the Renewable Electricity Support Scheme (ORESS 1).
The pre-qualification stage was scheduled to launch in December 2022, while the qualification stage and the auction process are planned to take place in the first half of 2023, with final results expected to be published by June.
Why it is significant: Ireland, which currently has 25 MW of operating offshore wind capacity via its only offshore wind farm (Arklow Bank), plans to procure up to 2.5 GW of capacity under ORESS 1, more than a third of its recently increased target of 7 GW by 2030. The Irish government has spent the past couple of years improving rules and regulation to streamline the permitting process and speed up offshore wind development.
Would be lovely for Tekmar to get some of this work:
https://www.business-live.co.uk/economic-development/renewable-plan-reduce-climate-change-25861409?int_source=amp_continue_reading&int_medium=amp&int_campaign=continue_reading_button#amp-readmore-target
Perfect NYE hangover research (not too much reading required ;)
VGraphs
112,076 views Jul 17, 2022
What are the Countries that Generate the Most Wind Power in the World?
Source: bp Statistical Review of World Energy June 2022.
https://youtu.be/UO0TURFy4Eg
Obviously a lot of land wind farms producing in this visualisation but as someone once said 'they aren't making anymore land' :-)
I'm heading for chat board dominance (usually gets me deleted or banned;)
Interesting to see wind power growth across the world visualised tho
Interesting that Jackdaw Gas Project was mentioned in the Tekmar H1 2022 results (Adjacent offshore markets remain an important part of Tekmar’s strategy.)
September 23, 2022, by Nadja Skopljak
Shell has awarded TechnipFMC with an engineering, procurement, construction and installation (EPCI) contract for the Jackdaw development offshore the UK.
https://www.offshore-energy.biz/technipfmc-wins-epci-contract-for-shells-north-sea-gas-project/
The contract covers pipelay for a 30-kilometer tieback from the new Jackdaw platform to Shell’s Shearwater platform, as well as the delivery of an associated riser, spool pieces, subsea structures, and umbilical's.
According to TechnipFMC, the tieback will use pipe-in-pipe technology, which is designed for high-pressure, high-temperature use.
The company described the contract as “significant”, meaning it is between $75 million and $250 million.
I find this company a bit of an enigma, it's enquiry book is impressive, it's revenue it not insignificant, it's skill set, industry knowledge and working partners are impressive and yet it struggles to make profit and the MCAP/ Sale Board show that to be the case...
IMO they just need some old and large enquiry book quotes to come in now the energy market has changed thanks in part to Russia and things could resume to historical highs...Perhaps this is where the strategic investor will help?
but wtfdik
TechnipFMC PLC is an interesting customer...
From most recent company-related news, it is worth noting that in September TechnipFMC won an engineering, procurement, construction and installation (EPCI) contract for TotalEnergies’ Lapa North East field in the pre-salt Santos Basin offshore Brazil.
Under the “significant” contract, TechnipFMC will reconfigure and install umbilicals and flexible pipe in a new configuration set to further secure the production of the field.
The company also secured an EPCI contract with Shell last month, for the Jackdaw development offshore the UK. The tieback will use pipe-in-pipe technology.
https://www.offshore-energy.biz/subsea-innovation-backs-technipfmc-in-gulf-of-mexico/
I know some investors will be thinking oh god another newbie surfing around finding stuff we already know but hey how it's quiet on here as sebo10 pointed out so I might as well keep posting ;-)
Tweeted on 12th Oct
'Subsea Innovation has completed the design, build and delivery of twenty-nine Pipe-in-Pipe (PIP) Waterstops to TechnipFMC for a subsea development project in the Gulf of Mexico.'
TechnipFMC PLC are massive £5.5B MCAP...
Looked a little deeper into the Pipe-in-Pipe (PIP) Waterstops and Tekmar/ Subsea Innovation have partnered with Brisktrade, presumably just for distribution but having product RTG for Oil & Gas industry can only be a good thing.
'We at Brisktrade offshore in partnership with Subsea innovation are more than glad to announce to you the addition of “Pipe-In-Pipe PIP Waterstops” to our services catalog
Market leader in Pipe-in-pipe waterstops, over 1800 waterstops has been delivered worldwide. Pipe-in-pipe PIP Waterstop is the next generation designed for seam welded pipelines. It is proven for pressures up to 400 bar g.'
https://brisktradeng.net/
This is not the most active board I've been on. There are shares with uncertain futures and no revenue that see 50+ messages a day. I guess the massive drop in share price over the last 18 months will have been painful for many.
The market makes the Mcap up. There is no justification for an mcap of a small fraction of their current order book. Madness springs to mind. There are tech companies with no orders worth 20 times our valuation.
I think they know they can't handle the potential amount of work they can attract, hence the route they have taken. DEME seem a good symbiotic relationship and why wouldn't they with the patents TGP have. The business is now is profitable imo, although we haven't seen the accounts to back it up, and with the cost cuttings and multiple $10mill projects. Is it really worth £7mill?. We'll see how strong the board are with the deal they do but can they convince the investor ts worth more than today's mcap. The business is on the up so I am happy to see what they can do. For what's it's worth, with the right deal a mcap of 40-50mill should be achievable IMO. Money free flowing into sector. Come on BOD's.
I think 9p per share would be daylight robbery. They would effectively double the market cap and half the holdings in percentage terms of existing shareholders. FSPs tend to be unpopular because they can often attract opportunistic, very low offers for business assets unless there's lots of interest with people outbidding each other. I assume that any deal needs shareholder approval anyway?
IMO, the company is now in a comfortable financial position, with a series of contracts in progress, as well as having a number secured for future delivery on their book. Therefore the risk of any delisting is eliminated, as the company meets all its AIM requirements. There should be no reason to perform share splits, as the company will be in a position with its book and credit position to raise funds, which would also be favourable to the BOD who invested in the last raise, just my humble opinion.
I read the 17 Nov RNS in a different way sebo10. I read it as we have a few proposals on the table and the one that does not require delisting from AIM and represents a strong partner going forward is for several million pounds by way of new share issuance at around 9p per share. (if DD of company assets, contracts in motion and the enquiry book stack up)
Barclays banking funds were already in place to July 2023 and taking on a large loan would put additional pressure on margins going forward whereas the participation of a global institutional investor, perhaps a big name within the industry that would immediately add weight and value to the companies enquiry book, outlook and share price would be the preferred option.
So I'm expecting dilution but into a global institutional investor looking to bring value, build relationships and increase shareholder value long term.
Of course the company could see new offers come in given the DEME/ Dogger Bank recent news and the industry push to bring new projects to fruition much faster to meet de-carbon targets etc.
That's just my thunking and I could be completely wrong...
Nice research DS. Worth having a look at Julian Brown, SenseWind who is also one of our NED's.
https://sensewind.com/about/
This article is also worth a read. Equinor (Dogger Bank) have just won part of a $757m contract in America funded mainly by European sponsors. Good thing Tekmar have also established themselves in the US as an offshore service leader :)
https://www.independent.co.uk/news/ap-california-east-coast-joe-biden-pacific-ocean-b2241086.html
The Godfather of Wind's New Floating Revolution
Bloomberg
236,524 views Nov 30, 2021
Earth's electricity needs could be met 11 times over if we filled our oceans with wind turbines. The problem is they're too expensive to build in deep water. Could floating technology change that?
https://youtu.be/jUVoWxvvJ5Y
Interesting look at floating wind farm potential and a good follow up to my earth winds visualised.
On a separate note DEME have been feeding TGP contracts and DEME are winning wind farm contracts across the world, setting up DEME US and an offsore wind JV in Japan....
DEME floated this year (no pun intended;) and given it's expansion into the offshore wind market could make the ideal investor/partner for Tekmar whilst growing their company reach in the sector.
Worth looking at DEME offshore wind news (imo):
https://www.offshorewind.biz/?s=DEME
Tgp said that investment would not involve selling current shares or further dilution. We are well below the 45p at launch. Wouldn't make sense to dilute further. Many institutional investors will be badly underwater.
Anyone aware of my posts on lse will know I like to bring a little flat earth into my posts so I thought I'd share the potential for Offshore Wind visualised via the Azimuthal (flat earth) projection set at height circa 100m which is perfect for offshore wind turbines (Globers can adjust settings accordingly ;)
Data curtesy of NOAA, US National Weather Service: https://bobwinds.com/