The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
A red day is never good to see, but looking at a few other companies, we appear to have held up quite well here - all things considered.
15 and 20% down in many cases seems to be the norm today - worse is some cases, so 5-6% down for us isn't so bad - and that's only the semi skimmed version of the RNS, with clearly another due soon once fully signed off. And sadly, to be fair to PF, he probably didn't have much choice and was bound by market regs to tell us.
Lets just hope that things pick up a bit between now and when the next one comes.
Maybe not Jimzi.
RNS infers that whilst contract is with Scanport, both Scanport and WSG are both named in contract and are partners. The contract between us and Scanport would detail how the partnership works.
But seems that WSG are named in main contract - probably why he was able to release RNS at this stage
This takes a lot of pressure off of him for now.
So maybe he has finally learned that less can be more - land this one, and then surprise us with another one that hasnt had any coverage - a Saudi port or an African airport MSC would do the trick
That would certainly get people to sit up and take notice and would propel us/the SP forwards in a meaningful way
Either way, WSG is no longer a one trick pony and is now a more sustainable and diverse business with much better annual recurring revenue. And thats more investable for people
Great news - contract signed - tick
2 more tech contracts too i see - they just keep coming it seems
Would have liked more than 5 yrs, but hey, last week some were doubting any contract. Lets move on now. Whats next??? Another airport i hope
Penguins, whilst not giving meterage cut off, they did make it very clear that its at the end of the horizontal :
“ a rigid setting Thermatek® plug was set over a zone of open natural fractures clustered at the deepest part or "toe" of the wellbore”
Sounds very much like that leaves plenty of the horizontal to flow from
So Halliburton def complete then.
The only questions now are:
1. Is it fixed?
2. If so, how far up the well did they need to go to isolate water?
3. Will it flow with less or no water (we already know that it flows with water cut) and at what rate?
Could be an interesting few days ahead whilst we await the answers. There will be anxious people of both sides of this over the next 36hrs waiting to see whether Monday brings an RNS update.
Israel this time:
https://www.wsg-corporate.com/news/coronavirus-westminster-supplies-fever-detection-equipment-to-israel/
It makes no sense to demobilise the kit unless they have already established that either fix has been successful (in which case that must have already tested flow to know this) or they couldn’t fix it.
If the latter, I’d expect them to tell us immediately. Not doing so suggests success and a longer test to establish sustained flow rate.
Either way, we should know by Monday.
Had a Twitter notification earlier for WSG jobs, but the link didnt work.
Just checked the website and not sure if these two are old, updated, or new as havent looked for a while
https://www.wsg-corporate.com/about-us/vacancies/
Anyone looked recently?
Looks like the SQ is on the move to its buyer now. Just had a Marine Traffic update with a new photo which was taken in Gibraltar. Still in its Sovereign Ferries livery, but looking in poor order - dirty, and a few dinks and dents at the back end.
So verification of the last RNS update suggesting we would be moving it to the buyer in Q1 - we've come good on that at least.
Weathergeek - you do realise that WSG are simply a re-seller (agent) for sales of tech kit and not a manufacturer? As such the fever detection kits are simply one of many tech products that WSG offer. Its a small part of their business - not at all unhelpful I agree, but none the less, its not the main attraction here
WSG hasnt been leaky in the past, so either it's a first and Tema on the way at last, or more likely, driven by tech contracts.
If this is what happens on tech contracts, imagine what a decent MSC contract landing will do.......