Member Info for CHEQUEMATE

Seeing that HAYT prospects are related to the energy industry, the following may be of interest: http://www.ft.com/cms/s/0/a4df9588-8119-11e4-b956-00144feabdc0.html#axzz3LdJdcp6b Regards CM

A couple of massive trades earlier today. Hopefully that reflects confidence by those in a knowing position have in the share. Regards CM

Hi Dyna, good to see you on here. Glad to see CLL is one of not so many stocks which haven't fallen today. Stop lost out of BOOM early this morning. Should have put a sl on it before yesterday at around 12p, but caught out by sudden downward movement and not in a position to trade during the day. Robbie Burns' wisdom about using a stop loss again, regardless as he would put it. Too often our emotions take over and we end up losing yet more money. I can always buy back in. Kicking myself for not taking action earlier. Capital is so hard to acquire, all to easy to lose. Live to fight another day. Bad day generally it seems. Hope you are having better luck than me. Apologies for being off topic. Regards CM

I guess the lack of volume for this share adds to its volatility. Does ANYONE know or have an idea what the very low trades may mean?. Does it have any meaning?. Hard to believe anyone will buy or sell so few shares. Additionally they seem to be A trades. Same pattern as just before the share went up. Regards CM

Good luck. Pleased to see a decent rise for you on the back of the RNS. Often a good RNS can be the catalyst to turn things around, including sentiment. Just be aware that we can all lose more money by holding rather than cutting our losses early. That is by no means advice as to what you should do here. You must do what you feel is right for you in the present circumstances. Things probably WILL turn around, just don't know when and from what level. Regards CM

Hello BT. So where did the rise today come from, apart from out of the blue?!. Good for you. I am sitting out these days, but keep GBG on a watchlist. I wasn't expecting anything here for a while, nor was I today with RNWH which I have recently invested in; that was up too today, possibly on the back of news re. flood defence work generally. Who knows?, who really cares?, share price up............thank you very much. I know very little about whisky BT; perhaps you can recommend a good malt?. Take care and regards CM

You wouldn't like to invest in RM., REDD, LTHM and BOOM would you and work your magic on them?...please?!. Potentially good news re. flood defences. Regards all CM

Hello DE, good to see you on this board. I know you don't jump into any share without doing a good deal of research and feel comfortable. Looks like your timing has been spot on, better than mine the other day at 277p. A little gobsmacked at the fall early on today and as much by the recovery and more, to over what I paid!. Let us hope this is now onwards and upwards. This does look more of a reasoned and informative board I agree, quieter too than many which is usually a good indication as to the quality of the company too. Nothing excessively exciting here which suits me fine. Having worked in civil engineering for around 8 years some time ago I feel I have a little understanding of the going ons, particularly in the water industry. Regards and good luck all CM

Sorry I sounded rather glum Mezza. The main problem for LAM is the current state of the oil market. I am sure that in time, how ever long that may be, things will pick up and recover. I don't see that in the immediate future though. In todays Times newspaper there was an article about the cost of producing one new barrel of oil. There was a picture of a drop of oil within which were the figures: Artic $115-$122 Oil Sands $89-$96 US Shale $70-$77 Deepwater offshore $54-$60 North Sea $46-$53 West Africa offshore $38-$44 Russia onshore $15-$21 Middle East onshore $10-$17 So, with the current cost of oil at $70 a barrel, you can see there isn't a lot of profit for some companies when you take exploration costs into account, inc. hiring of rigs etc. We've been here before of course. Something will trigger the price of oil to rise. A number of oil companies were mentioned in the Times as to how they have fared over the past 6 months: Weir Group -28% Petrofac - 35% Ophir Energy -44% Premier -48% Tullow Oil -50% EnQuest -65% Afren -66% So, LAM is not alone; not that helps you a lot of course. Interesting about the cost of US Shale Oil. I think many investors think that shale oil is mega cheap and is the saviour of the US economy. Again from the Times today: Taking Aim at America (analysis) Tim Webb Opecs decision not to cut production is aimed at inflicting further damage on American shale oil producers. Most need oil prices of about $80 to break even, but US oil prices are lower even than Brent, tumbling 8.4% to $67.46, compared with Brent's $71.33. The companies behind the US shale oil boom have funded their phenomenal growth through debt, which stood at about $62 billion at the end of the second quarter, nearly a third higher than the year before. Because production from a shale oil well declines rapidly, by as much as 80% after the first year, these companies need to keep raising funds to drill new wells and maintain output. Richard Mallinson, of the Energy Aspects consultancy, said that funding to these companies could dry up as oil prices tumble. He said: "You could quite quickly see a reaction in terms of a slowdown in the growth rate of production if capex is cut. If sentiment was about to change, it would trigger a slowdown in capex and investment. Those with less valuable acreage could be in trouble. A lot of companies came in after the cycle had started and spent a lot of money." Many pi are against setting a stop loss on their investments. It takes control out of our hands but also the emotion about selling at a loss. We always seem to find a reason not to sell however spurious it may be. Taking a loss can be painful, but better a small loss than an ever increasing one. Best of luck whatever you decide. CM

Thanks Dyna, much appreciated as usual. I will make the time to look into what you have mentioned. Regards CM

Thanks for that O. I will see if I can find a copy. CM

To try and answer your question Mezza, although I am not invested here, I have had a quick look at the latest trading statement. The outlook states the following: Outlook As announced on 21 October 2014, the timely delivery of the "Mercury" rig will have a material positive impact on the Group's performance for the year and this guidance remains unchanged. As at 30 June 2014, the Group's order book was valued at US$ 1.2 billion. A substantial proportion relates to the construction of the four new build jackup drilling rigs for Ensco and Shelf Drilling. We continue to see high demand for all of our core services with a strong pipeline of opportunities reflecting a broad range of outstanding bids (approximately US$ 4.9 billion at the end of H1 2014). The timing of contract awards and phasing of construction cycles is critical to the Company's performance and financial outlook. We are in active dialogue with a number of prospective clients for new orders and conversion of our bid pipeline into further contract wins remains the highest priority for the Group. As announced on 12 November 2014, the Company has secured a new major contract award for the construction of two new jackup rigs for its long-standing client, National Drilling Company. The Board maintains its view that revenue for 2015 is expected to be broadly flat on 2014 but notes that the favourable phasing in the construction cycle experienced in 2014 will not be replicated in 2015 as most projects will be in their early stages of construction". In the first paragraph the word "timely" could be construed as being "just in time". In the 2nd. paragraph " The timing of contract awards and phasing of construction cycles is critical to the Company's performance and financial outlook". "Critical" doesn't portray a very positive image. Again in the 2nd. paragraph "We are in active dialogue with a number of prospective clients for new orders and conversion of our bid pipeline into further contract wins remains the highest priority for the Group". Being in "active dialogue" could be taken as concern that there are a lack of contracts around. Then in the 3rd. paragraph "The Board maintains its view that revenue for 2015 is expected to be broadly flat on 2014 but notes that the favourable phasing in the construction cycle experienced in 2014 will not be replicated in 2015 as most projects will be in their early stages of construction". Doesn't paint a particularly positive picture. Could be forewarning a profits warning maybe. Additionally have a look at the posts of 15th and 17th of October. I haven't looked any deeper, but if the CFO has resigned then that is not good news. With the oil price falling to its lowest level in 4 years there is little reason why many companies are going to invest in Lamprell's services. Good luck CM

Can anyone recommend a book which explains (easily) how to understand company financial statements?. This is an important area of investing where I am seriously lacking knowledge/understanding. I am sure I can improve my investment performance by getting at least a handle on the subject. Thanks and regards CM

Thanks for your thoughts folks, much appreciated. I was of much the same mind. Think I bought in 24 hours early, ho ho, but who knows with investing?. I try not to invest much in the first instance, leaving funds to average up if the share price starts moving North and conversely not to have lost so much if it heads South. With what appears to be a strong company with excellent fundamentals (on the face of it) if I was to buy in at below the price I paid yesterday, it would be because I see a better opportunity to add to my holding, which in my mind is very different to averaging down on the hope that things will turn around. Although it doesn't necessarily apply here, I would rather gain a little slowly than lose a lot fast!. For what it is worth Robbie Burns, The Naked Trader said of RNWH in his latest blog on Wednesday: "Renew put out a sparking statement targetting over £500m revenue in the next few years. Bit of profit taking on the statement but once that is over I think it it onwards and upwards." Regards CM

Anyone any thoughts about the fall back this morning?, having bought in yesterday!. Bought in on back of recent results which seemed impressive. I can see no obvious reason, not a huge no. of trades so far. Regards CM

My top up at sub 160p at around 11.15 not showing at all. Therefore there may be more trades than what is currently being shown. I expect they will show up later. Now being quoted 162+ to buy. CM

Hmm. My buy limit has been activated at 530p, set on a rising buy, regardless at the limit being 525p. Only bought 200 shares, so it has made, what £10 difference. So, looks like I'm in along with you. CM

Yes. Ask is down to 530p again from being over 540p earlier. About to go out, so I think I will set a cheeky buy limit and see if I can catch it at around the 520-525p price. Well, sometimes it works!. Then again, it may jump up again on afternoon trades. Hmm, lets see what happens. Regards CM

Good morning Dyna, how are things?. I have been looking for this one to come down a tad before buying in after todays RNS. Could have bought at 530p first thing but don't like buying straight away. Agree with your valuations and the reasons why. Probably will wait a little later in the day to see what the price is at then. Also looking at other companies too, with maybe a top up with RM. Regards CM

Hi DE, thanks for the post. I am tempted to average up here with HAYT. I did think about it seriously end of last week, then saw it had already jumped, perhaps it saw me coming and wanting to stop me!, ha ha. The mkt. cap to pre tax profit figure is about as low as any share I have looked at, in fact, it has been the lowest at below 10x. Many are 20x and more. Once it gets to 20x or more then I have to have good reason to invest and will look at RNSs more seriously to assess potential profits etc. No rush, well, not unless RB is going to mention it in todays blog (if there is one). Thanks for mentioning SOM, I will have a look. I have invested in RM., not a great deal. Tempted to top up there too. It was 5p down earlier today, it is now 2p up and will cost me around 10p per share to buy in than late last week. I prefer investing into strength though so that is the price I may have to pay. Re. ITV, well, a very slow burner I think, not one to get excited about, more to tuck away and watch it grow (if that is what it will do). Again, not a major holding. Hope all is well and your other investments are going fine. Regards CM