Member Info for howdlep

inclusive of cash on the balance sheet, loans to MGR Resources, investment in GKC copper mine and of course the yard and Explorer-1 jackug rig. That said, I am sure those MM's will be happy to take stock at these depressed levels. Amusing posts though, Peer and Superlucky, albeit lacking in research. People following this stock. know there is no debt and are aware of the risk/reward opportunity. However, each to their own,

Yes another very interesting article. I agree our BOD are holding out for a high price, given its deep water specification. Re our seller today, I was pleased the market absorbed it. I suspect the market makers will accumulate at these low prices and be very quick to move it up, as investors nibble. That said, it is all just noise to me, newsflow and volume will move this sharply higher. I await the 7am RNS machine.

The Singaporean yards are going to get stronger still. Good news for our JV yard:- https://www.bassoe.no/singapore-reclaiming-the-throne-in-offshore-shipbuilding/news/66/

Very bullish for AMED and note the 2018 jackup contract forecast:- https://www.bassoe.no/zombie-offshore-rigs-don-t-threaten-rig-supply/news/64/

That JYCMECO jv agreement. As the " investment will not have any significant impact on the earnings per share and net tangible assets per share of the YZJ Group for the current financial year ending 31 December 2017", that may well be why an RNS has not as yet been issued. However, we are very close to 2018, so expect this news to be issued shortly:- http://yangzijiang-cn.listedcompany.com/newsroom/20170823_172111_NULL_WIJ7U8M9R2T71WRS.1.pdf

Yes I would agree. AMED need a PR offensive, as there is a developing story to be told. Unfortunately, from a company and a NOMAD point of view, there isn't a legal requirement to release RNS', unless the information is immediately price sensitive. That said, from a shareholder point of view, it is information that will create value in due course and so, therefore, one would like our Board to convey that story. Often there may be reasons why details need to remain confidential, as deals may depend on that. Certainly, AMED can never be accused of leaking information, so we have to wait patiently for newsflow. Hopefully, that will forthcoming in next months trading update. However, I would expect positive news re the rig sale and employment at any point. Once the jv is cash rich, the opportunities increase enormously. So it is well worth considering our stated investment policy:- "The investment policy does not preclude investment in other sectors. The Company may acquire controlling or non-controlling stakes and it may be an active or a passive investor. Investments may be either quoted or unquoted and may be in companies, partnerships, joint ventures or direct interests in projects. The investment policy does not preclude the Company making an investment which may be deemed to be a reverse takeover under the AIM Rules. Any transaction constituting a reverse takeover under the AIM Rules will be subject to shareholder approval." Being a debt free company, with a NAV of circa 41p, the company remain ideally positioned to develop its business model. This is a time to be developing a position in AMED imo.

An interesting find DTC. Further background information:- http://www.offshorewind.biz/2017/08/23/jiangsu-yangzijiang-sets-sights-on-offshore-structures/ Clearly a lot going on. More news to follow!

If you will excuse the pun, Amedeo has run a very tight ship, so there is very little in the way of leaks or idle speculation. The exception of course, was the 5 February 2014 RNS, re the prospect of that US$1.7 billion order "to build two semi-submersible drilling platforms for Primepoint Drilling PTE Ltd. In addition, an option on two additional semi-submersible drilling platforms has also been agreed subject to conditions precedent." Note, the use of the words "subject to conditions precedent". That is why we are all closely following market conditions, in relation to the oil price, rig scrappage, Baltic Dry Index and in particular sector consolidation, Put simply, the big players are getting bigger and the weak are falling by the wayside. Rig scrappage still has some way to go but clients are now ordering ready for 18-36 months time. Amedeo Resources and our JV with Yangzijiang, are well positioned to benefit. We have the yard, the skilsset and global contacts. Now we just need a new order, deliver Explorer-1 and gain from MGR's commodity trading. I have no doubts that within 12 months we will have taken up our 5 year GKC copper option to purchase a further 5% for US$2m. Now is the time to be investing/accumulating AMED imo.

it would be good if, in addition to comments here and on a d v f n, the likes of davethechef, knicol46, Dshox, Perr_is_amazing et al could add their considered thoughts on i i i. It would certainly add greatly to the debate.

Good to see H1 mineral exports increasing from Iran in H1. Good news for our 2.5% investment (with a further 5% option) in the GKC copper mine and MGR commodity trading:- https://financialtribune.com/sites/default/files/field/image/17january/no_888.jpg

Yes I am looking for the bid to move up to 14p shortly. Hopefully then, the spread will narrow as volume picks up. Next real step for me though, is a move towards MA200 @ circa 18p. Then momentum will really pickup.

Yes indeed and it underlines the importance of the build to Yangzijiang, as it opened up huge new opportunities for them. Worth noting also, that the Le Tourneau build was delayed until the completion of the new yard. The $170m order is with Keppel FELs, (see Final results to 31/12/15) "which has built and delivered almost half of the world's jack up and semi-submersibles in the past decade, due to the importance and uniqueness of the Le Tourneau design. Moreover, in the current new build market, there are no Le Tourneaus that have been built on speculation. All have been ordered for clients and by clients." We are now 'preparing to deliver the rig' and await that all important confirmation RNS.

I read a while back that it was normal for a client to pay for the build costs up front, then when the rig was complete and standard international checks undertaken, the client would pay circa 90% of the balance. The remaining 10% would be exchanged on delivery. Now I cannot say whether that has been the case with Explorer-1, as details are very much confidential. However, we do know that the client was arranging finance and that the wording of the Interims was bullish, re the rig being prepared for delivery. That is suggestive of both client finance and crucially, employment of the rig being in place. I expect to see a further pickup in volume next week, as we test and surpass the MA200 at circa 18p, Once momentum builds, this will move very quickly as we know.

Yes the market seems to be valuing the GKC and MGR Resources investments, plus the cash. We can value the rig when the client finance and employment RNS hits. Mind the gap (up)!

The rig market is now far more buoyant, something highlighted by the 50:50 JV (ARO Drilling) between offshore driller Rowan and Saudi Aramco. A real commitment to growth. I particularly like the concluding two sentences:- "Rowan and Saudi Aramco have agreed that ARO Drilling will purchase twenty future newbuild rigs that will be constructed by a Saudi Aramco manufacturing joint venture and are expected to be delivered between 2021 and 2030. Each newbuild is expected to have a sixteen year drilling commitment upon delivery to ARO Drilling." http://www.offshoreenergytoday.com/rowan-saudi-aramco-launch-offshore-drilling-jv-aro-drilling/ Now is the time to be announcing the financing and employment of our Explorer 1 jackup rig and maybe follow it with further orders.

Interesting that our client for the $170m Le Tourneau jackup rig is Keppel FELS, a real market leader in the sector. http://www.kepcorp.com/en/content.aspx?sid=80 So it is very interesting to note, how they are developing their industry offering. This from March 2016 highlights just that:- http://www.offshore-mag.com/articles/2016/05/keppel-acquires-letourneau-jackup-design-range.html We await the client financing and employment RNS, which I suspect is very close now.

Yes it is very illiquid and it needs to be remembered that the top four shareholders, accounting for 81% of the shares, are long term holders, looking for a multiple return on their investments. Note, Mena are in at 100p and the other three, including Qatar Corporation (61%), at 50p. These figures adjusted, post 100:1 consolidation. Now the problem pi's have, is that any rig payment/deployment news will ensure a big gap up and it will be extremely difficult to acquire or accumulate a holding, once the herd arrive. So my policy has been and will continue to be, accumulate on weakness. However, I now believe we are very close to a decisive move and the mm's know that. Their actions in relation to their own books, will be very interesting. Soon premium trades will be common place. All imo.

It's all a numbers game, as the market anticipates rig scrapping and increased demand. Of course, the latter will be influenced by geopolitical events affecting the oil price and day rates. That is why companies with high spec jackup rigs will eventually be in a very strong position. Interestingly, as we progressed through a much lower capex spend for oil companies, that decreased demand for rigs, triggers further scrapping. Something that is vital for the industry. This allows the big players to benefit hugely from the cycle upturn. Note the last paragraph headed "85% (utilization) will happen eventually" "We don't know when we will see 85% utilization across the market. But we expect the jackup and semisub markets to balance first. And once someone decides to scrap the first modern ultra deepwater drillship, we'll know we are getting close. https://www.bassoe.no/offshore-rig-market-to-reach-85-utilization-again/news/61/

still great risk reward here. SP just awaits client finance RNS. Hugely undervalued re NAV. I am happy to wait for the big re rating. Patience the key. I suspect we may get another RNS in the near term

Yes "the yard is preparing to deliver the rig" is the key statement. Given that it is not expanded upon, I would suspect we may get a further separate RNS in due course. One presumes that means the status is 'ready stacked', implying quick delivery once client finance is approved. NAV now 0.40p v 0.11p sp, which confirms what a big re rating will follow once fiance is arranged, I would have liked more info re GKC mining operations, but that will be for the Finals. MGC key going forward. Cash position still very healthy, with loan in place to MGC as well. Commodity price rises massively important to operations going forward, as that will result in the further 5% investment in GKC going forward. The devil is in the detail. More will be forthcoming in The Finals.