"Should these conditions precedent not be satisfied by 30 June 2017, both Bowleven and VOG have the right to terminate the Agreement." Two of the conditions include - - The grant of a PEA over the Bomono PSC. The PEA application was submitted by Bowleven to the Cameroon authorities as requested following Ministerial approval for the award of a two-year extension to the Bomono PSC (to 12 December 2018); - The approval by the Cameroon Government of the assignment of the equity interest from EurOil to GDC Bomono. You can be sure these won't be competed in the next 3 months given the way things work in Cameroon!
So Kay - I guess what you are saying is that if you see someone getting mugged on the street, you will (a) laugh at the person to start with; and (b) then tell the person to not bother informing the police about what happened but instead ask the person to go home and suck it up. Nice one! Keep it up :)
But of course these are analyst predictions.
Although revenue for 2015 is expected to be flat, due to improvement in EBITDA margin net profit is expected to improve in 2015 as per some analysts.
The thing is ordinary PIs do not appear on the Company Register unless you hold certificates. Our shares are held by our Broker.
"The two jackup rigs, designed through collaboration between Chevron Thailand, Lamprell Plc, and Shelf Drilling engineering and operations personnel, will be capable of operating in water depths of up to 350 feet and for use in constructing wells with maximum drilling depth of 30,000 feet. The rigs will feature specifically fit-for-purpose offshore drilling technology, and accommodation for 160 persons." http://www.shelfdrilling.com/news/shelf-drilling-ltd-announces-five-year-contracts-for-two-newbuild-jackup-rigs/
The following comment from the operational update is reassuring - "We are in advanced discussions with a number of prospective clients for new projects, which we expect to convert into booked work in the imminent future." Normally LAM makes its analyst presentations open to all or makes the webcast available on its website. But the one from last week was on "Invitation Only" and no webcast has been provided. The share price also stabilised post analyst presentation. Not sure what was said in that meeting? Anyone got any insight?
And why is layoff a bad thing? If I recall, from the last conf call, the current book of work requires 80% of the workforce?
Staying with the smaller companies, oil rig maker Lamprell, which last week won a $390m order from Ensco, climbed 4¾ to 144¾p amid optimism that the group’s prospects are brightening. Analysts at heavyweight broker Citigroup spurred demand for the shares by raising their recommendation on the stock to “buy” and telling clients that “Lamprell’s turnaround is gaining momentum”. Until last week, the analysts said they had viewed the group’s “goal of winning awards from top-tier drilling contractors and major oil companies as a longer-term objective”. The Ensco deal, however, had “largely dispelled” that “scepticism”. http://www.telegraph.co.uk/finance/markets/10781126/Market-report-Poundland-slips-on-broker-caution.html And then Lamprell makes it to Guinness World Records! http://www.offshoreenergytoday.com/lamprell-delivers-golden-eagle-puq-enters-guinness-world-records-book/ And some interview with LAM CEO: http://www.thenational.ae/business/industry-insights/energy/lamprell-chief-a-sceptic-on-chinese-rigmaking-boom
What rigs are you talking about? There was an RNS yesterday on the contract win ...
What's strange is JPM cutting target price from 175p to 165p today .....
Indeed. Per Ensco press release, the contract to be worth appx $430m. http://www.enscoplc.com/Newsroom/Press-Releases/Press-Release-Details/2014/Ensco-Orders-Two-ENSCO-140-Series-Jackups/default.aspx
BigRob - Clearly you are not reading the official press release!! In Jan, Lamprell already indicated via RNS that they are back in profit (go read it). The only question that remained was by how much. If you were a more savy investor / trader you would have known that the industry concensus was profit of something like $30m, but LAM beat that forecast.
What has future orders got to do with last FY year's numbers? Of course future orders are a concern, but not something that will impact the 2013 numbers.
Good question! I believe there will be a re-rating post results (next week). Per Jan trading update - quote "2013 has proven to be an important year for Lamprell with the business returning to PROFITABILITY". However concerns remain (and this is industry wide issue) around contract wins. Per research notes I have seen, "Only 40% of expected 2013/14 contracts have been awarded, with cUSD15bn posponed to 2014/15".
KASE - Kazakhstan Stock Exchange.
It may be that the offer is more sensible this time around and is taking time for the BoD to discuss its merits - i.e. not an outright "materially undervalues the company"? :-) Fingers crossed!
Trending downwards. Is someone drip feeding the market? On a bad day in the market, the share price has a good chance of taking a big hit .... won't tough until there is a sense that the floor has been reached. 100p has been breached a few times now yesterday and today - looks like it has not found support yet!
And chill guys - all these frantic posting going over the same ground is not going to make the bid price look any more interesting. What will be will be - and it is beyond any poster on these BB's hands.
Alias - I don't want to waste my time here. But a few things to note - "Date position held/ dealing undertaken" - does not mean that's the date when all the shares were bought. Often orders goes overnight when you have a big order to fill. And I did not mean to say these are off market trades - I meant to say these were bought from the market. Anyway, when I say he bought all the way "up to 300p" also does not mean he bought his stake at 300p - as I said it was all the way up to 300p.