Member Info for MikeGP

Ned,

Forever the optimist.

Let's see what the results and trading statements have to say.

Iran has effectively forced the EU hand on the INSTEX arrangement which has been dragging on for far too long,..--- by setting the 60 day deadline,.. after which they may start to walk back on their commitments....-- and Trump has gone all looney tunes on us again,,. so anything can happen. ... and it is now almost 6 months from signing the African contract.

no clue.

Final results for 2018 on friday.... and then 5 weeks to the AGM.

Big week ahead?

Tick tock.

Bolton,

We had it in the update, RNS 29 Jan":

"We have made good progress with a number of large-scale project opportunities under discussion and in our Interim Report in September we announced that we continued to work towards signing at least one further long-term Managed Services contract during the year although, as always, there is never certainty as to timing or outcome in these matters. In this respect we announced in December that the Chairman, Sir Tony Baldry, and CEO Peter Fowler, had recently returned from Africa having finalised discussions on one of our long-term airport security projects. Contracts have been drafted and, at the request of the client, Westminster have signed, and we await counter signature from the government. We have also made material advances with a number of other airport prospects, which have been in discussion for some time. Whilst there is never certainty as to timing or outcome in such matter we remain encouraged by developments and will update on these and all material developments when appropriate"

Trader 43

"It has been stated in an RNS that the gas found in TE10 is likely to be commercial"
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No .... it did not. It stated what a flow would be required to make it a commercial well.

... that Lucca had to extricate himself from Sound.... in order to reappear at a later stage,.. heading another company/consortium etc.,. that might purchase SOU and allowing him to bring home the dream?

The North East Lakbir structural-stratigraphic closure has been assessed with a mid-case potential on a gross (100%) basis of 1,430 bcf gas originally in place ("GOIP") with a 3,408 bcf GOIP upside case and a 584 bcf GOIP low case.
---

ps200306

High case would net back to us at over £1 for TE -10 alone.

"Director of the Instrument in Support of Trade Exchanges (INSTEX) Per Fischer on Monday voiced the company’s readiness for undertaking first transaction with Iran at the earliest.

In a meeting with the British commercial companies and officials in London, he presented an explanation on the function of the system and addressed concerns of the British companies in doing business with Iran.

Iran’s Ambassador to London who attended the meeting wrote in his Twitter account that Fischer announced that despite challenges, INSTEX is seriously seeking to conduct first transactions with its Iranian counterpart SATMA."

https://ifpnews.com/exclusive/irans-satma-eus-instex-to-do-first-transaction-soon/
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My understanding is that WSG would have been at that meeting,..the article is dated 2nd May and refers to the meeting being on Monday,... so that would have taken place on 29th April.

jones.

Could be because they haven't completed the un-stimulated test yet either. It's all there in the RNS.

"The Company confirms that the initial phase of the test programme - the unstimulated test - has now been largely completed,"

I imagine that they won't issue actual flow rates until it is 100% complete and they have crossed the t's and dotted the i's.

.. that stand out for me:

1 "With over three decades of experience in the Aviation environment Vincent is well-respected and highly qualified within the aviation sector holding, amongst other things, the IATA Aviation Security Operation Diploma and is an ICAO AVSEC Instructor and National Inspector"

" ...is an ICAO AVSEC Instructor and National Inspector"

2 Euro Ops is a small company, but it provides Westminster with new customers and an additional revenue stream with exciting growth potential whilst Vincent Toscani himself brings additional skills, contacts, and access to contracting manpower to the Group.

"Access to manpower"....

3 Euro Ops now provides us with an ideal opportunity to grow our business in such regions, both from Euro Ops existing business activities and also through the expansion of Westminster's airport and managed services business.

".... also through the expansion of Westminster's airport and managed services business."

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IMHO...... think this is a strategic acquisition ( ...not really big enough to call it that..)....,... in respect of the implementation of the African Contract. Someone already known to the company,... who can provide, handle, train and inspect with French sparking staff etc.,---- just a hunch.

Anybody else any thoughts---- or do you think PF just decided one day to buy a company in France to impress us with his deal making prowess?

Sutman,... yes 8$

What was the uplift per tif for each $ over 8$'s.... was it 10%?

So ...does this suggest that we are looking for a French speaking African country?

anon3,

IMHO,... I don't think a share consolidation is at all likely.

There are only 130M-ish shares in issue so the stock is already quite ill-liquid given, that a large proportion of those are held by PI's.--- hence the rapid, volatile movements that we experience, up and down, on good/bad news.

Best

Tosh,...my thoughts exactly,.... I was typing as you posted!

..the Tech Division,.... under promising and over delivering..... and the Managed Services ie by which I mean the Airport Contracts ..over promising and under delivering?

Is that a management issue of the relative divisions?

Let's hope the Tech division can cover another one of the large contracts that they are chasing before year end. That really would go someway to changing our fortunes around.

Who'sthedaddy

"Again, you can be critical of management and still believe in the asset and want to stay invested. I believed that TE-9 through 11 would prove up enough for us to sell at a decent profit. I still cling to that belief, but more in hope now than certainty."
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So you were pretty certain that a 3 well programme would prove up the asset and allow the LE to forward----- yet here we are,.. having only had to to drill two wells,... and with a discovery on our hands,..that may allow us to reach the LE event sooner and cheaper,----- and yet you are un-happy?

Strange way of assessing the progress that we are making?

Intererest snippets:
1The project will commence as soon as export licencing has been granted. Under the contract circa $3.05m relates to the supply and installation of the systems, which are expected to be largely delivered during Quarter 4 2019, and circa $430k relates to maintenance services over the next two years.

So supply and maintenance which builds in recurring revenue,.. in this case circa £360K over two years. Presumably it will be extending as maintenance would be on-going...2 "Security of ports, like airports, is a high priority for governments around the world and Westminster have been developing wide ranging solutions covering various aspects of port and airport security. This contract is one of several large-scale projects we are currently negotiating in different parts of the world."

Sounds as if they have other Port opportunities in the pipeline, of this size on the go,... so hopefully this will be one of many.

Delivery of kit is Q4 of 19,... so it is important that there is no slippage in the delivery on this contract if we want to sales revenues to be booked in the current financial year,...--- lets' hope that the Operations Director will be all over this and ensure that we meet the programme.

Good job being done by the Tech Division.

Every little helps.
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That is not so little in the contexts of WSG revenues... and will certainly help with the dollop of 'jam' tomorrow that on the forthcoming Trading statement in 4 weeks.

Good news,... let's see what impact it hss on the SP?..... should definitely ensure that next years figures surpass this years and we see continued growth to profitability even without any of the big MoU's and contracts converting.

Best

Ned,

No probs,... I vented at PF a couple of week-ends ago! Had a good chat with gibbo yesterday and actually it is quite good actually talking to someone else and getting their perspective,.... because we are so in the blind we disseminate every word in the RNSs' and we all have a different view. If you want to meet for a beer on that Friday I can,.. but would need to be back near the Southbank for 7.30-ish.

Best