Member Info for hereandnow

good find

is getting the changes to the contract agreed as fast as possible. I would imagine there has been a fair bit of travelling going on the past few weeks and months to get everything sorted out. WSG has spent over a £1million securing this contract the past couple of years, they have zero business in USA, the Iran contract will quadruple revenues , the contract will lead to many more contracts , not only in Iran, but worldwide. They are not going to walk away.

Patience required.

surprised at how cheap this is considering what could/should happen in the coming months. Cashed up for a year at 2.5p, FDA approval to land any day, commercialisation to follow. Happy to wait. It will happen quickly when the news lands

Looks knackered doesn't she?

Looks knackered doesn't she?

WOW, the body language was so telling, clearly is under huge pressure re. Iran. Not surprising as it he has completely isolated the USA on this issue. I'm sure we will see movement after the mid terms.

Not sure what Turkey is up to with this journalist killing. There are so many so called 'extra-judicial' killings that take place. They normally just get brushed under the carpet. They seem to be intent on extracting something from the Saudis

EU and Iran wait for the USA to show their hand. They know roughly what is coming, I'm pretty sure they have a whole system, SPV, new swift, whatever, but something that will be wholly independent of the Yanks . China and Russia will love this and give it full support. Global alliances shifting, huge strategic win for the Chinese. Trump could go down as the president who started the break up of the empire. Post WW2 alliances that have controlled the world to a large extent being ripped up, dumb, just plain dumb.

“It is unlikely that the SPV could make the difference for large companies with significant exposure to the U.S. market – and thereby to U.S. sanctions. The exodus of multinational corporations from Iran that we have witnessed in the last few months is unlikely to be reversed by this initiative. However, the SPV could make a real difference to companies who are willing to take on the risk: small and medium sized enterprises (SMEs) without a U.S. nexus or significant exposure to the United States. Going forward, the focus will increasingly move to this group of companies, and a key question for European officials will be if they can devise an architecture which adequately supports and incentivizes SMEs who are interested in trading with Iran to do so.”

Tech division is on a bit of a roll isn't it?

They can't get insured through Lloyds of London just like they can't use any UK banks but there are plenty of other insurance markets round the globe to get insurance. The last RNS indicated progress on tis front.

Was that from the cooper man?

'As referenced in the annual report for 31 March 2018, the Company has sufficient resources and committed facilities available to meet its CURRENT plans including the COMMENCEMENT of this transformational project.'

two key words there and you know what they imply

one of the most meaningless RNSs you could put out, very counter productive, just makes you think something is up!

Peanuts in terms of risk/reward

They don't need to pick up any more acreage off shore Namibia, they've got loads.

Watch out for the Azinam IPO. They want to have a busy drill campaign and prove up the post code.

Eyes on what Tullow decide to do on there CMD in November

I believe there were 40 odd wells drilled in the North Sea before they found oil, only about 15ish in Namibia so far and there have been encouraging signs for acreage owners, plenty of info. to learn from. Namibia is still in play.

I would be v happy for ECO to drop $2.5million on a Cooper well. So much time, money and energy has gotten us to this point, they need to follow through.

is something going on, I can sell any number at just under 2p but can't buy any

I think MSC will grow from £3.6million to £4-4.5
Technical division from £1.8million to £2.4
One off big contract £3.5 million

I think they will hit £10million for the full year. Certainly looks doable . 2017 £5.6 million.

Iran contract to drop, another MSC to be announced (also described at the AGM as 'transformative'). Other large technical contracts could drop at any time.

Personally, I think this represents good growth following the bad luck of Ebola and the debacle of the ferry fiasco. Company set for unprecedented growth.

This is why I have held through this storm and just added the other day. Our time in the sun is due

looks like a rollover to me

In 2017, they achieved 128 enquiries per month and got 29 orders.

And then from the half-year report in September we got this:

‘H1 2018 showed a 34% increase in Technology Division sales enquiries received at 1,008 (H1 2017: 753) resulting from re-focussed sales activity.’

‘Our Technology Division continues to win business from countries across the world and is developing a number of large scale opportunities in addition to the $4.5m Middle East contract secured earlier this year.’

‘In February we appointed a new and experienced Managing Director, Stuart Gilbert, to head up the Technology business and we are already seeing the benefit of this appointment with increased sales activity and order intake significantly ahead of the same period last year.’
‘The expertise of the Technology Division underpins the proposals from our Managed Services Division where we can offer best in class equipment and solutions for our potential customers in emerging markets.’

Concomitant to this are the vast increase in technical and training contracts which they have posted on their website, the job offers for multiple trainers. The Uk contract was for £300k and they immediately employed a new service engineer. I suspect recurring revenues will have increased significantly as well.

So, to conclude, it seems the Technology Division orders have grown significantly even without the massive $4.5million contract or the $2.6million Iranian contract. They seem to convert about 1 in 3.5 enquiries into a contract. They had about 170 enquiries per month in H1 2018 as apposed to 128 in 2017, a 32% increase. Very encouraging.

From the Final results in May, some key points:

‘New contract awards for equipment and services to airports around the world including a six-month airport security training programme.’

‘Second separate contract for equipment supply into Iran, worth â‚$2.6m, also signed but on hold awaiting clarification of the impact of the US withdrawal from the JCPOA and the implications for the Company's supply chain’

‘Our Technology division continues to deliver a wide range of products and solutions around the world. Our recent $4.5m order received in the Middle East that we have been pursuing for over three years demonstrates the time such large-scale projects can take to finalise. Being the first multi-million-pound order for this division for a while it also demonstrates the lumpy revenue nature of this division. There are however many such opportunities we are pursuing and to capitalise on these opportunities, we have strengthened the management of this division with the recent appointment of Stuart Gilbert as Managing Director.’

KPIs: It is worth noting that 16 training contracts were won in 2017 compared with 2 in 2016. This is a fantastic way to get in front of the right people to try and win an MSC.

‘New contract awards for equipment and services to airports around the world including a six-month airport security training programme’

In 2017, they achieved 128 enquiries per month and got 29 orders.