Member Info for Diver169

200mil for £20k not a bad time to snap them up with all the changes and 52 week low yesterday!

acquisition by the Company of the entire issued share capital of MelodyVR Ltd, resulting in the issue of 465,702,743 Consideration Shares; · the issue of 20,909,091 Adviser Shares; · the Share Consolidation, resulting in the Company's Existing Ordinary Share Capital being consolidated into 231,750,343 New Ordinary Shares with a nominal value of £0.01 each; and · Anthony Matchett, Steven Hancock and Simon Cole join the Board as Chief Executive, Operations Director and Non-Executive Director respectively.

Mr Watson was speaking after the firm’s annual general meeting at Sir Ian Wood House in Aberdeen, which saw 10% of shareholders vote against the directors’ pay packs. Mr Watson, who officially took over the CEO role from Bob Keiller in January, earned £834,000 in total last year. Mr Keiller took home a pay package worth £1.15million. In its AGM statement, Wood Group said its full year earnings before interest, taxes, and amortization (Ebita) would be down about 20% on 2015 levels – a forecast that was in line with expectations. Last year the firm’s Ebita was £325million, 14.5% lower than in 2014. Wood Group last week announced plans to reduce its UK onshore workforce by 300 in an effort to remain competitive in a challenging market. Yesterday, Mr Watson said those cuts would be in addition to the 2,500 jobs already lost this year. Last year, Wood Group laid off 8,000 staff members, which represented a fifth of its workforce. Of those posts, 2,000 were UK-based. Mr Watson said the latest batch of cuts were a reflection on activity levels, which have been depressed by low oil prices. Brent crude has rallied from 13-year-low of $28 a barrel in January to about $45 yesterday, but is still 60% below its summer 2014 high of just over $110. Mr Watson said: “The important thing is we do not take job losses lightly and are not insensitive to it. Everyone in the room lives in and around Aberdeen and we can feel the stress it causes. “But we want to be here for the long term and for staff to have jobs for the long term. It’s part and parcel of where the industry is now.” Wood Group upped its dividend by 10% in 2015 and is planning a double digit increase again this year. Mr Watson was coy on whether he felt the oil price had bottomed out already, saying: “Does it feel like it’s bottomed out? I think there’s too much uncertainty in the market for anyone to say that, but I feel it’s bouncing around the bottom end of where it will be. That’s my most optimistic projection.” “We have seen so much volatility with the price moving from $35 to $45. The level of movement is still more than we would like.” Mr Watson said he supported recent steps to encourage investment in the north-east economy, including the launch of Opportunity North East (ONE), chaired by Sir Ian.

SIGN INSUBSCRIBEAccess Energy Voice for as little as £8.25 per month! Menu Oil & Gas Wood Group headcount down 2,500 so far in 2016 Wood Group has laid off 2,500 people across its global operations so far this year as it scrambles to match its head count to lower activity levels. The Aberdeen-headquartered energy service giant’s chief executive, Robin Watson, was yesterday unable to say how many of those job losses had taken place in the UK. Mr Watson did say the company was sensitive to the plight of workers, but was doing the right thing to protect the business long term. He also said the recent upturn in oil prices had not yet led to an increase in workload.

Nooros fast-track development in Egypt achieves production milestone less than one year after discovery BP today confirmed production ramp up from the Nidoco North 1X exploration well and the Nidoco North West 4 development well in the Nooros field, located in Abu Madi West concession in the Nile Delta, Egypt. BP holds a 25% stake in the concession of Abu Madi West, and Eni, through its subsidiary IEOC, holds 75%. The field is operated by Petrobel, a joint venture between IEOC and the State partner Egyptian General Petroleum Corporation (EGPC). Discovered in July 2015, the field is now producing around 305 million standard cubic feet of gas, 3,000 barrels of condensates and 1,500 barrels of NGL per day from four wells. This has been achieved after facility de-bottlenecking and enhancing existing production facilities. Hesham Mekawi, BP North Africa Regional President, commented: “We are pleased to announce the production of Nooros after only 10 months since its discovery. Nooros is another example of BP’s commitment to fast track the development of its resources in order to bring critical gas production to Egypt. Our plan is to maximise production through continued debottlenecking of the production facilities.”

On 26 April 2016, the Directors of BP p.l.c. announced that the interim dividend for the first quarter 2016 would be US$0.10 per ordinary share (US$0.60 per ADS). This interim dividend is to be paid on 17 June 2016 to shareholders on the share register on 6 May 2016. The dividend is payable in cash in sterling to holders of ordinary shares and in US dollars to holders of ADSs. A scrip dividend alternative will be made available for this dividend allowing shareholders to elect to receive their dividend in the form of new ordinary shares and ADS holders in the form of new ADSs. The ‘Reference Share Price’ for the issue of new ordinary shares under the scrip dividend alternative is: US$5.172 for each new ordinary share. For holders of ordinary shares this is equivalent to 1 new share for approximately every 51.72 shares held prior to the ex-dividend date of 5 May 2016.

Yeah me too, he is either on the wrong board or talking sheet! But I would like to think 310 is long gone now, just as 350 is! GLA

Having a holiday with thier muggings last week! No news, no reason to get excited about this one!

ABERDEEN, Scotland, May 9 (UPI) -- Oil services company Wood Group said Monday it secured two new contracts in Iraq that will bring in more revenue and create more than 100 new jobs. For undisclosed companies, Wood Group said it landed two three-year contracts valued at more than $140 million to provide support for operations in southern Iraq, creating more than 100 new jobs in the process. "These two significant contract wins demonstrate Wood Group's commitment to working closely with key clients to extend our operations in Iraq, where we see a growth market that complements our broad service capabilities, international knowledge and strong expertise," regional director David Buchan said in a statement. Wood Group, which has offices in Aberdeen, has notched a series of victories even as crude oil prices struggle to carry a rally that brought prices from below $30 per barrel this year forward. Supply-side concerns emerged in late April when data showed production increases from members of the Organization of Petroleum Exporting Countries. Some of its members had called for a production freeze, though Iranian reservations left any agreement without the support needed for full implementation.

“Certainly I have more confidence that into 2017 and 2018 we’ll see the oil price back at $55, $60, $65 and that’s a big, big difference from $30, and a big difference from $40. “I think it will begin to get heads up again. I think they’ll be plans pulled out to look again at some of the new field developments.” He added: “We’re past the worst. Having said that I think the rest of this year is going to be pretty horrible and there will be more job losses in 2016.” Sir Ian sat down with Energy Voice to discuss the themes of the site’s OTC research campaign, Sub $50: New Perspectives and Hidden Opportunities. The industry veteran discussed recovery, diversification, operators on the brink and tax breaks, which he argued can’t be brushed aside as unhelpful, because people “aren’t paying taxes”. “People plan ahead when they’re planning an oil field, so they’re going to plan around the oil price of 2019 ,2020, so the tax regime is very relevant in terms of planning, ” he said. “I’m kind of hoping that by mid-2017, we’ll certainly be above $50 and hopefully up towards $60 and people will be talking about development and I still think there’s probably a need for some special incentives for more exploration in spite of the seismic.”

Five hundred jobs have been secured after the oil services company Wood Group PSN won a contract extension for Shell's North Sea assets. The contract is the third between the two companies this year and comes with the option of a one-year extension. Wood Group PSN will provide maintenance and construction on eight platforms, and engineering modifications on three. Yesterday Aberdeen-based parent firm Wood Group announced it is to consult on up to 300 redundancies. The company is starting a consultation process with 1,000 of its onshore employees around the UK.

I'm proud to work for BP and I'm used to open honest communications. This BB is nothing more than a school yard bragging board. Let's keep it professional and leave the children in the school yard. BP made the decision to cut costs before everyone else and they a reaping the rewards. Yes it's sad to see colleagues loosing their jobs, but only the strong survive and prosper. GLA genuine holders.

Nothing wrong with subsidised orders, as long as they encourage new orders. They need to get the product out there. I'm in after waiting on a good company to invest in after selling one of my dog shares at a 50% loss. I believe I can recover that in a year here. GLA

Probably to get out of the pump and dump! I hope they learn from that mistake! Shameless pump and dump merchants! Or Marechants!

Yeah, we know what happened the last time we were waiting on solar planning news, it left most of us on a 9p spike! Be aware of the pump and dump merchants!!

This has held up well over the last year, with all the new contract wins we will see 730 again sometime soon. GLA

has been awarded a new five year framework contract with a five year extension option, valued at approximately $120 million, by Babcock International to provide industrial services to a number of its UK sites. The contract will be delivered by Wood Group PSN’s industrial service line business, Wood Group Industrial Services (WGIS) and maintains the company’s leading position in the UK marine sector. More than 400 people will be employed on the contract that builds on Wood Group Industrial Services’ 15 year relationship with Babcock International. Surface preparation, application of protective coatings, scaffolding, insulation, rope access, cleaning and fire sentry services will be delivered under this framework contract.

Wood Group has been awarded a two year contract extending its service provision for TAQA in the North Sea. Under the contract, which has the option of three, one year extensions, Wood Group PSN will continue to deliver engineering, construction and maintenance services to five offshore assets; Cormorant Alpha, North Cormorant, Eider, Tern and Harding. Effective immediately, the contract extends an agreement in place since 2008. James Crawford, managing director of WGPSN in the UK and Africa said: “Our commitment is to work in collaboration with our client to prioritise safety and maximise efficiency and productivity. We will draw upon our robust knowledge of these assets, broad capabilities and relentless focus on providing excellence in our service provision, as we continue our long-standing partnership with this key client.”

Group has been awarded a five year contract by Nexen, valued at $150 million. Extending a contract in place since April 2010, Wood Group PSN (WGPSN) will continue to deliver operations, maintenance and technical support across Nexen’s North Sea offshore assets; the Buzzard, Scott and Golden Eagle platforms. More than 190 jobs are retained under the contract, which is effective immediately and builds on Wood Group’s 12 year relationship with Nexen in the UKCS.

25 Apr 2016 View the full press release in PDF format Wood Group has recently won four subsea contracts with Statoil on the Norwegian continental shelf (NCS). The latest award is a study to deliver subsea field concept engineering for the Snorre expansion project. This project will focus on cost efficient enhanced recovery from the Snorre reservoir, with tieback to the existing Snorre A tension leg platform and gas import from Gullfaks A. There are also options for front end engineering design (FEED), detailed design and fabrication on this contract award.