Member Info for Immyspecial

totally agree!! market will have to wake up soon to it...hoping for a good 2018 as we have turned a corner and will be making profit in 2018 IMO

great RNS at GDG which should see us re-rate soon as well...

To be honest i dont know enough about gdg. Only recently got a few of those as its at the bottom at present. Another rns on the bond extension update. RG must be close to sorting something out or else he wont be sendingg that many RNSs regarding it in close succession imo

Why on earth would RG dilute his holding to next to nothing. Thats very unlikely...

RG did say he will get the finance sorted for GDG by summer next year latest or else no he ain't going on holiday so no GDG contracts for GDL until that gets sorted. in the mean time happy for the other contracts we currently have to be rolling. ESSAR need to pay the money they owe us before we can begin the renewal contract with them...that latest April 2018 so could be a few quiet months on anything that we know of to come our way. but dont be surprised if we get a completely new indian client in that time...

Hi MIke, the difference now is that we no longer rely on the mothership to keeps us a float. we have not diluted or gone bankrupt during the difficult drought period over the past few years and now that the drought is over, we seems to be getting more contracts with various different clients... lets not forget we are also building a reputation...its just not a case of lifabric which we all hoped for by now...

Hi Jamie, im taking today's RNS as a mobilisation confirmation too...based on what RG said at the AGM...we were only held up cos of the BOP filter that was order from the US.

although this is a 3 year contract, RG expects this to be done in 18-24months... hoping to see more work as we go along as its a contract based on at 'LEAST' $15m.

had a feeling that was you... :)

Even Bohai drilling have even subcontracted us through CNPC cos they impressed with our drilling....so what does that tell us about our drilling over their own.... slowly we are getting recognition and as the drought fully clears we should be firing on more cylinders.

another interesting thing about Essar is that they have even packed in their own service providers in order for GDL to now provide them drilling services because they are impressed by our drilling speed and quality of work. Essar just dont have the best of reputation of paying people!!

Few pointers from yesterdays AGM yesterday for those interested. - ESSAR hold up is based on they not paying up the $1.6m additional sum accrued from the add ons of the last contract. RG is holding out for the money owed before he does anything further for them. Essar own deadline to get the works started is by next March/April so hopefully they will get their act together soon. - ONGC hold up is due to a BOP filter we have had to order new from the US as it was part of the agreement even though RG has said its not required but ONGC still want it so to get the deal RG accepted and also to get the foot in the door as such. likely to start work in the next month or so. ONGC already talking of incremental contracts. - GDG lifabric contract unlikely until next summer. GDG are currently working on a an IPO & RBL totaling $400m. which will sort out debt and some cash to get works done. however we are currently drilling for GDG and work should complete by April. - CNBC, we currently using 5 rigs in china (couldn't remember if it was CNBC+GDG on that count) and will also be moving in to other acreages for them too so plenty of work there to do for CNBC as we know. - facts - we almost make twice the profit drilling directional drills than we do when drilling verticals given our speed & tools. cnbc/ongc, just because they are state owned, they dont necessarily pay on time. usually a 4 months lag according to RG so doesnt help gdl at present with a small working capital but going forward when we have more work and money coming in all over, this can be maintained better as we can role out more rigs per job and bash them out quicker whilst also saving money on management of rigs per job as u wont need as many people. come next year the intension is to have 15 rigs up and running... 5 for CNBC. 5 for GDG lifab & 5 in india. on the whole RG emphasized how the drought is over and the work is coming in with greater push in CBM in both china and India and given our setup we are placed very well. he did say it feels like 2008-9 again where a lot of working was coming in and available. Anyways...lets wait and see what happens in the next 6-12 months at least. hopefully future is bright as it almost feels with the push on CBM. hope that helps...

When you issuing an Holding RNS...LOL

thats some impressive buying!! the 250k this morning is probably you as well!! hope you timed it right and see you are the AGM!!

Rns states its on the 1st of Nov. I dhould be there...

That followed by the gdg contract soon after will be fantastic!

Fill me in chaps. What news we expecting? GDG contract or essar or mob order for other indian contract

Would be nice to get some news before the AGM.

and now the reverse, someone selling 5k chunks...lol

I fly back in on the day of AGM so camt make it this year either. Hopefully someone will go and ask a few questions. We havent had a essar renewal contract...?