Member Info for davethechef

Whether we get the Rig Sale news before the end of the year, we should be due an End of Year Statement RNS, around about the 31st December. I've mentioned before, a few months ago, that it wouldn't surprise me whether the Rig transfer is delayed, again, to the mutual satisfaction between our Offshore Yard & our customer KEPPEL FELS

This report, dated yesterday, would suggest, finally, an increased Offshore Rig activity/demand. Hopefully positivity returning. Continued long-term hold, http://oilprice.com/Energy/Crude-Oil/The-Biggest-Opportunity-Right-Now-In-Oil-And-Gas.html

Now China's most profitable ship yard, lengthy insight on our JV partners, and it's Exec Chairman. http://www.nextinsight.biz/index.php/story-archive-mainmenu-60/938-2016/10885-yangzijiang-navigates-nimbly-through-choppy-waters Just over a year ago, I posted here that 'YZJ' were looking at Clean Energy Vessels, as one of it's future interests, and Ren mentions it again here(possibly for our Offshore Yard or for the below sale?) This article mentions it has considered selling one of its smallest yards, to a listed Chinese yacht company. Agreed, ismalia, it wouldn't surprise me, if AMED forgave its JV/Offshore Yard interest and looked elsewhere for projects to invest in. Intriguing, but at the same time, a 'very slow burner!' It wasn't possible to buy above 10K, just over a £grand's worth of shares, unless it went to negotiated trade, today.

It's of the request of the customer KEPPELS, that the rig delivery is delayed, due to the poor oil price presently; consequently we shouldn't be penalised; that's my understanding. Oil prices are forecasted to recover quite strongly later this year, especially last quarter and continuing into next year, so hopefully the rig will be transferred in next few months. However, it wouldn't surprise me if the rig is yet again, subject to a delayed delivery, into next year, as a result of the very slow recovery in the present oil price. The Interims, next month should inform of us the latest.

Rumour has it, SILF will be returning September 14th. Whether that's from twitter, I don't know, but a poster on ADVFN says word on the "backstreet" suggests above date.

Agreed, yes, I meant 6 weeks approximate!

I'm expecting the Interims, six months ending 30 June, to come out approximately the last week of September, so more like six months from now. Agree, your last post, all positive hopefully. re their Rig transfer; plus, Iron Ore prices were substantially higher first half this year, than previous year, so re: MGR Resources, an improved performance. at least on one of their commodities(trading)

Bid price has risen today, whether selling large or smaller amounts, now offering 9.32p; last couple of days 9.05p. Still 10.40p to purchase. So MM's happy to take-on reasonable amounts of stock, above the bid, which is encouraging.

Picked up a few of these, earlier today. Also in Investment company Amedeo Resources, which is due substantial cash on eventual sale of it's JV partner's Rig, before end of year. Undervalued & overlooked: shares tightly held. GLA

Expected continued positive IRON ORE prices next couple years, according to this recent article re: Australia supply http://www.mineweb.com/news/iron-and-steel/end-australias-iron-ore-supply-rush-seen-bolstering-prices/

Excellent review of Amed's potential, Ismalia, your post yesterday morning. Agreed, although, for greatest potential we either need further orders or, let's see what the management do with some of the substantial cash due them, on the final delivery. Personally I'd like them to invest in another venture, take a stake, with potential, cash generative. There's plenty cash starved opportunities. Also encouraging to see management are incentivised by their £1 target remuneration options.

I'd have to agree, very little positive feedback. When is this share returning!?! The CEO said back in December, in the video interview, on the bottom of the steps, that this would be huge, if we were patient and to give SILF a year. Well, we're seven months now, down the line, and very little to go on apart from they say due diligence is ongoing. At least AMED is showing some life, after being in the doldrums for ages;my other investment.

Fair enough K, I'm not out to mislead, as you know, I just transferred post. Still, I remain positive, and topped up today. My was the first buy of today. Hopefully won't see single figures SP again.

Curtsey of howdlep on Advfn, just posted ' Amedeo Resources is a resource and energy related infrastructure and asset investment company. The Group benefits from a management team with a proven track record, a strong senior partner in its first major investment with Yangzijiang Shipbuilding, in combination with the Qatar Investment Authority as the majority shareholder. Amedeo’s associate, YZJ Offshore, received its first order in 2012 for a Le Tourneau Super 116E Class design jackup rig, which is scheduled to be completed in late H2 2015. Amedeo also owns a stake in a small commodities trading business, MGR, and we anticipate further investments to be undertaken in due course. Whilst the market backdrop has become more difficult following the decline in the oil price, and this is still a relatively early stage in the Group’s development, the medium-term growth potential for Amedeo’s key investment in YZJ Offshore is significant. We initiate coverage with a Speculative Buy recommendation and 0.75p share price target. ---- PER We have constructed a peer group comprising the London listed oil services businesses, with the addition of the two main Singaporean rig builders, Keppel Corporation and Sembcorp Marine. Following the decline in the oil price and subsequent impact on sector valuations, the peer group currently trades on a FY1 PER of 13.5x falling to 12.6x. On EV/EBITDA criteria, the multiples stand at 7.8x falling to 6.4x. However, Amedeo is in its infancy with only one investment and with the profit coming from YZJ’s first rig expected to be lower than for future projects. In arriving at our fair value estimate for the shares, we assume that a 15% operating margin is achieved on each future order constructed (whether it be a rig, an accommodation deck, vessel etc) and that the average order value is US$150m per order. This would imply an operating profit of US$22.5m per contract, US$4.3m/0.08p per share of which would be attributable to Amedeo shareholders. Assuming two major contracts are delivered in FY 2018E and that MGR pays a dividend and interest to Amedeo equal to the Group administration costs, this would result in a hypothetical EPS of 0.17p. Ascribing a conservative PER multiple of 6x, a 52% discount to the year-2 peer group PER multiple, this would imply a share price of 1.0p.

Thanks to Bowood from iii, last week too; AGM today but I doubt if there will be any worth while update on the rig. AMED reports in dollars so the cash balance is worth more than £4m against a mc of less than £3m and there is no debt. The investments in the rig and MRG, in the books at about £13m are not reflected in the MC.

Interesting posts from Bowood, on iii. Fair assessment, The price of Iron Ore is on the way up which should help MRG. Also if the sale of the rig completes during the next few months there will be a substantial inflow of funds into the investee company together with profit. Share price still down on cash at the bank and the $ strong against the £. Still feel that AMED will be nearer 20p -25p by the end of the year which will still be well below asset value

Looks ready to tick-up, on another buy. Offering 8.35p bid now & need to pay greater than 9.36p on buys over 10000 share purchases.

Thanks smith10, for bringing to attention

Well I hope so Newtoalthis2015. I have bundles of patience, especially since I also hold AMED! And have done for well over two years, and that's short of news but is well undervalued and likewise, given time could be atleast a ten-bagger. I'm not a trader; often, it's necessary to hold on to some tiddlers 2-5 years for maximum gains. GLA

He has apparently changed his original post at 9.24am yesterday to just these two words 'update pls' !?!