Member Info for coaster

No magic formula then. A long hard slog here I am afraid.

Yes there is going to be a lot of bankruptcies in the oil and gas industry. Lets hope WG can survive what undoubtedly will be very slim pickings in the near future.
They do have a considerable amount of non oil/gas related revenue.

777
Can you explain your post re SMDS. I do not follow!

Aspers,
Like you I was a holder since 2019 around £5. I am bewildered as to how having loaded up around this figure you managed to average down to bank an18% profit.
Tell us the secret.

To be accurate look at their website.

Pity about the dividend but I am happy to see the company's robust performance.
As has been stated I would expect to see the SP circa £4 when things settle down (aspiration)

Pokerchips
Appreciate your comments.
Kenj
I was not referring to comments on this BB particularly. I think your posts and Pokerchips generally are valuable points of view which I consider seriously.
GLA.

I would agree with you. I like many others are in and still in around 4times the current SP.
The Fundraising came like as I have said in a previous post like a bolt out of the blue. I do believe in this company but I am far from convinced that the BOD have handled their shortage of funds correctly. Look at a sample of comments concerning Costain over the last couple of years and you will see the often repeated mantra that the company was cash rich and had very little debt.
So the fundamentals outside the roof and road issues were repeatedly stated as being sound.
I take it like others on the chin but I do have a lingering feeling of being "misled".

We all know these things take time but this delay will only serve to erode the SP and we may end up being offered shares below 25p.

It would be difficult for the Board to justify/ recommend cancelling the forthcoming dividend when they continue the share repurchase scheme.

I hope so too. Will it happen-nobody likes egg on their face especially our esteemed BOD. One way or the other we ordinary shareholders are the last one to be considered.

Arsenal I believe your observation is correct.
Having been a shareholder in the past I believe in the management of this company. A lot of progress was and is being made under Mr.East.
The Trent engine issue whilst very serious will be overcome and I look forward to investing here again when some of the market turbulence subsides.

It is approaching 2 weeks since the announcement in respect of fundraising.
If we assume that they had done their preparations in a diligent manner and knowing the existing critical situation in financial markets why oh why has this delay in issuing a RNS concerning the RI happened?

Just to add the downgrading of the oilfield services companies' SPs by on average circa 40% does not help either.

The fear as a result of the Saudi/Russian mess is that the POO at current levels will result in less investment by oil companies in maintaining/developing their assets.
WG is still very much looked on by the market as an oilfield services co.
There is still a large debt figure in the accounts and as the management have stated they expect only a moderate improvement in their business for 2020.
All that and the unrelenting short selling make for a bad state of affairs.
Who knows what will happen in the future but for now the market is brutal with any perceived weakness.
I am keeping my head down in the hope of better days but will continue to hold this share.

The history of this company in particular does not lead one to believe buy backs are of any real value.
When the SP as it will gets past £3 I will be taking my leave. Management here has not been great IMHO.

Just reread this.
Tone was upbeat notwithstanding the arbitration setback on the road in Wales.
This fundraising has come as a bolt out of the blue. Kitchen Sink comes to mind.
Too many errors in the last couple of years which I for one thought was behind them.
Going forward the business is clearly there. The huge question is can this MD and his team turn turnover into profit!!!

They have plenty of contracts on hand. HS2 is important but any delay inevitably will be seen by the market negatively.
Bit of selling today on no real volume .Let us wait and see. Tomorrow could be interesting.

300p or below is a very good long term hold.
I am in at 500P and not overly concerned albeit this and oil it has wrecked my portfolio profitability.
Keep your head down.

I would bet against you !!!!