Member Info for Knight01

Hadn't received the divi this morning, gave IG a call and after looking into it they made the adjustment in my account. Would recommend anyone else to do the same who has a long position in IG. They also seem to pay 100% of the dividend now which is great for a SB position. We should be back into the 70s/80s here soon, GLA.

Thanks. For some reason Halifax Share Dealing have it down as the 28th, just checked the RNS again and it is indeed the 29th.

Key couple of months ahead for the company, with a few contracts rolling off in the near future it will be interesting to see the length/rate of any new contracts and what impact the oil prie collapse has had on GMS. Ridiculously cheap based on 2015 earnings but need more confidence for 2016 and beyond. Positives are a reasonably healthy backlog for 2016 and fleet expansion programme concludes this year, which means debt will start to reduce significantly and potential for increased dividends due to excellent cash generation of company and low cost base. I'm holding onto these for now but any news of contract renewals and I'd be looking to add considerably.

Has the share gone ex-div today? I have a long SB in IG who usually pay dividends on ex-div date but not had anything in my IG account today - or am I missing something?

Agree but GDL have a habit of brushing things under the carpet and pretending contracts never existed. I'm in anyway at 4p, with the GDG contract complete we should see revenues for the year of atleast $50m and hopefully a tidy profit with it, making the shares look very cheap. Will also be interesting to see GDG plans for 2016, at this market cap we don't need any third party contracts, just a reliable source of income from GDG.

At half year they said they were confident of completing this before year end. Year has passed and no news informing us otherwise, and no reason stated for drop in share price. Can we confidently assume this contract has been completed? If it has then I look forward to the Feb update, ridiculously cheap at these prices. Big IF though with GDL track record but GDG update yesterday should give some confidence...

Wanted to express my sorrow for all those that lost money here. I've followed globo for a very long time but was lucky enough not to be invested at the time this went under. However I can't express enough my anger at what's happened here and the sheer deceit by the management of this company.... Complete criminals. I would like to hope they all end up behind bars but the sad reality is they probably won't... Money talks and we live in a world which is unfortunately governed by greed. Still... I hope karma has a way of giving those who are responsible what they deserve. Just hope people haven't been affected too badly by this and wish you all the best in your future endeavours.

Sell off this morning is well overdone, most of the news I feel was already priced in to the share price. Earnings in H2 still expected to be significantly ahead of H1, so net profit for the year will be in excess of $70m. Softening of future contract prices is not the end of the world and was to be expected to some extent given the current low oil prices, but this is more than an offset by the expanded fleet. Capital requirements for fleet investment peaked this year hence high debt but this will come down quickly in the next few years as see the additional income from those fleets come in. Anything under a £1 is extremely good value and happy to have added more this morning at 97p.

Thanks taudelta, informative and much appreciated

Bought 15k shares yesterday at 26.5p, the company appears to be making very good progress under the radar at the moment. Question from me, do we know what the cost of oil is at Otakikpo and when will we start realising revenues from production? Can we expect to see some oil sold this year? Apologies, my oil knowledge isn't great so would appreciate some insight on how/when production will come on stream fully given they recently announced first oil.

Pleased with the half year results, a solid set of numbers. Was expecting slightly higher earnings but more importantly the order book and outlook remain positive, with an expected increase in earnings in H2. The new build programme remains on track and an immediate contract for the new mid class vessel arriving this quarter should give the share price a real boost. Will also be interesting to see what growth plans are in place following the current expansion programme. GMS feels well undervalued on 2015 earnings alone and with projected earnings grown over the next couple of years I can't see the SP at these levels for much longer. Great upside potential without the volatility of an oil producer. GLA.

Any updates?

It always feels like one step forward and two steps back with this company, but based on GDG alone the current SP reflects really good value. Let's hope the GDG work is progressing well and we're seeing money coming in, would also be good to see more funding for GDG for confirmation of future wells and to reduce downtime between our current 30 LiFab wells and our next contract. With regards to Essar, disappointing that drilling has stopped and the company has left us completely in the dark about it. However all does not look lost and as long as we haven't lost too much money from our Indian operations we could still have a decent year. Would be nice if things actually went to plan for once with GDL, we'd be comfortably sitting above 30p.

People weren't sure if it had been cancelled or not but it was clear there had been some form of delays. I'm pretty sure an RNS could have still been put out giving some context of the situation, it would have certainly helped the SP from sliding this low. It's still unclear as to what the exact situation is and shareholders don't know if revenue this year will be $50m or $100m, makes it very difficult to value and invest in a company.

Interesting developments, guilty of expecting the worst with the Essar contract. May be time to get back in...

Looks like Greka have recently been strengthening their management team, John Pexton in particular an interesting appointment... http://www.grekadrilling.com/en/aboutus/management-team

And so it continues... Yet another contract where something has obviously gone wrong but RG thinks it's okay to just brush under the carpet hoping noone will notice. Based on the GDG contract this is starting to look cheap, but how confident are we that things are going to plan even with GDG? Weren't they supposed to have secured funding by Q2 for the remainder of the 150 LiFab wells to be drilled? Looks like at best GDL will have $50m revenue this year, although this should have comfortably been $100+. I bought into Randeep's hype when I first invested in GDL but I'm glad I sold out, he is just not a man you can trust. How much of his attention does he even give to GDL? For GDL to be a successful company it needs a proper management team in place independent of GDG and GEL, not a man who is on a handsome salary from all three companies and doesn't give a s*** about shareholders or share price performance

I had to sell out previously due to an urgent requirement of funds but I'm now looking to get back in. Not quite sure if we will see a small dip or I should buy now, I have no doubt results will be in line and the future looks good, only concern is how much market sentiment towards the sector in general will affect the share price in the short term.

Great RNS today and very reassuring; GMS proving they have been relatively unaffected by the current oil price environment thanks to the quality of their client base and presence in the Middle East. Backlog is now looking very strong and with the large/mid class vessels on long term contracts, we should see very good profit growth this year and next, as additional revenue from the new vessels kick in.