Member Info for mbingo

It's an easy Buy and Hold - very low risk. Solid buying from CEO also - 100k shares not so long ago.

Mad valuation this. Pro forma cash (and investments) position after disposal was £225m, no debt. Medium term focus on margin growth. £1.2-1.5bn revenue anticipated 2021, with 72% revenue secured. At a time when the UK government has announced massive infrastructure spend.

Who knows. It is valued at marginally above cash levels - asset thrown in for free. Operating costs at 4/5$ barrel, so as long as payments continue to be made, good risk v reward at these levels - even with the brent price at this level. Note that Arden broker note is a BUY and gives a price target at 260p. Gives confidence that the major holders have upped stakes.

With Netbacks at $21.5 for core assets, $45 oil would certainly help! £21m market cap. $3.7m debt and some loans with the Chairman (who has approx 30% interest) and Trafigura. With their assets, should never be this cheap.

This makes sense. It's very quiet here - strange given the government easing announcement in the sector.

It does seem like $45 oil is going to happen. That would be fortuitous timing as has a massive impact on PPC : https://pbs.twimg.com/media/EXfGGXcXkAEmSBh?format=jpg&name=large

Taken some of these - Cash and investments comes to 155p, so less than market cap. No debt, contracts, healthy pipeline, government infrastructure spend. Board buying. Cheap.

Priced at 9p May 2019, this is quite some fall!

Should have said Debt at $3.7m, plus loans from Chairman / Trafigura.

Started buying here the last couple of days. Always good to see key stakeholders with meaningful skin in the game. £18m Cap at current price with netback at $21.5 for core assets. No debt besides the loan from Trafigura and the Chairman. Potential for minimum Oil price at 40/45 from government - helps. Think oil does recover (over next few months) as supply taken out of the market and world starts to get back to business. Welcome views of others.

It's ridiculousy cheap - large position for me. Cannot see the downside TBH. Certainly won't be selling any in the 20s.

Wow, 2.8M late reported shares gone through. Looks like that's it on the sell side?

Volume is welcome - a step towards recovery. Really very cheap here though at current prices. 115p in January was it / large placing at 45p with heavy BOD buy-in. If you believe that litigation will increase as a result of Covid, Ince will be in demand. Regarding Professional Services, those that i've spoken to in the industry have seen no impact to their businesses. Think the market needs to see some reassurance from the company that the Partners remain busy ...

The lawyers always benefit in the tough time:
https://www.bloomberg.com/news/articles/2020-05-04/pandemic-lawsuits-will-ask-is-the-coronavirus-an-act-of-god?srnd=businessweek-v2&sref=xuVirdpv&utm_campaign=socialflow-organic&utm_content=businessweek&utm_medium=social&cmpid=socialflow-twitter-businessweek&utm_source=twitter

Nice find! Clearly business opportunity high if they can hire these types.

Good buying into close - nice to see. £13.7m Cap is ludicrous!

Every which way, it looks cheap. IKO were buying large amounts in the 80-100p range. Goldman sachs new. Aberfour too - per company shareholder information.

Quiet here. Would welcome a business update from Ince - would have thought that their services are highly in demand. Another beaten up stock at £13/14m market cap!

I expect it will have a 30-40% day at some point.

That business is only 49% owned - makes it a challenge to own imo. The valuation here just looks wrong. Dividend was at 3.75p/year (17% yield at today's Cap) pre Covid. Cash position above expectations and sector focus as industry back before most. Market mechanics at play currently, so difficult to comment on timeframe for a reversal, but I'm positioned to see one.