Member Info for pbody

no dont take it too seriously this one.
its a long standing 19p buy in point.
you would have to read back 2 weeks when people were saying it will be back at 80p in no time.
I think it was overpriced.
they borrowed even when in profits iirc to get that sp up there.
I think it was overvalued before the price drop a few weeks ago.
I said low 20's before it bottoms.
way I said 19p
if it gets to 19p I will buy in!

looking back on track.
will interserve have any knock on effect?

another day on the up

only gonna climb today.

Assuming ned is going.
Mine would be how do you expect to save 30% on daily operation expenses.
I would guess GFD would be about loans ?
The other I would think of;
My other question would be who owns what?
with the SP so low there is a chance that someone could offer 38pps and buy the whole company!
Were not even sure who owns what or where the share are to stop that sort of thing.

if you are nedhammer we will try and come up with 2 questions.
let us know what time you need them for?
there might be a few of us and we will try and keep it simple and put 2 forward between us on here.
I am sure others will read this.
gfd will I am sure.
ssb1 is around I think.
I will make a new heading .
give us a time cut off. 9.15 sound about right?

Take it you are going to the extraordinary meeting?

Will be waiting for it to get to 19p this week or next?

Am I right in thinking it has a fairly sizable crane on that? At 1500 tonnes?
I did a rough calculation looking forward on straight EBITDA for market cap (truly ridiculous as EBITDA is nominally 1/7th 10 1/10th of market cap.
At 80 million the SP is 23p (161p at 7 times).
Best of luck for the week.

It was something GFD mentioned could have been bought with a shariah loan a few years back.

I presume they were looking a using it for offshore wind farms or some such and decided against it.
As you say (its not a stupid question) there can be periods where the work has to wait until the boat becomes available. Or it can be a dead weight. I know it is similar to the ones already used by GMS.
It might have even been thought they could supply a pair and speed up time to completion of a project?
I dont know if there were others they would purchase.. But at the time the finances indicate the work was waiting for the ships. Not the ships waiting for work. With CO2 bargaining and renewables this could literally be political will (or party elected) or timing of elections that have some knock on effect on that score regarding contracts.
There are some heavily subsidised schemes (and quite rightly)

I just thought I would throw it in. At the moment with the low day rates paid it would take another ship to get the revenue back up to 225 million (219 before iirc)
must get to bed now. it will be an interesting week.

as far as I can remember they hit quartz; when thy stopped. Just short of target depth,
quartz to be fair has other materials contained within it. you can often find flakes of gold say.
its that sort of material.
I know they were looking for copper content but if there was a quartz seem there it could well have been another metal.
its that sort find. quite often nearby. iirc.
it basically threw out the calculation for what was under there as the samples are used to calculate area in 30metre blocks
it getting to the point where it was freezing and the ground being harder (and thus slower to drill) meant it was all stacking up against them at the end of last year.
The metal content is there sure enough. It just a if you hit with you drill or is in the last case the is a strata of quartz......
best of luck now the nights are drawing out.

There are so many red herrings to look at here.
just check out this buy marked as a sell! down the bottom of the page.no wonder people panic!
if they hold till the 2019/20 results come in they will have a tidy profit.
https://www.hl.co.uk/shares/shares-search-results/g/gulf-marine-services-plc-ord
btw seafox 5 would have added 22 to 30 million revenue had they acquired and found work for it.

there is gwmo.
which had a run of bad luck last year.
hit quartz not copper.
didn't reach full depth then hit winter.
might be running a bit short on cash (but still has a few holes to drill). they hace new geologist. if they hit what there aiming at it could be a multibag (especially as quartz/gold can be found together.)
was a bargain at xmas.

thanks,
i will keep an eye on that.
been looking at clp at the moment
looking supercheap and good chance of some returns.

Prairie Mining.
Looks like en of April, May could be a timeframe for a buy in.
Their winter.
I could trickle away into the 20's
I think that bounce was dip below 30.poss.

That is not meant as a jibe.

It reads like it.
I some ways I am tempted to get a premium account.
Having time to read everything and/or message or alert on here is awkward.
Especially if you not at a pc all day or have something else on.
Thanks for explanations. Info as I didn't have any shares here.
Watch for others in the sector taking a dive in SP as fear takes the driving seat.......

Thanks again Kenj for your patients.
I understand the prepack administration better now. People will be able to turn up to work on Monday as usual.
What would have been the total worth of contracts and assets owned by Interserve?
Had they been able to "set their stall out"
I suppose we have a sector knock on effect to deal with next.....on top of brexit.....
Similar to Carillion in that respect......

Thanks KenJ, Hereshopin and others. These messages were not intended to confuse the issues.
I didn't read any RNS lately regarding Interserve nor did I hold any shares (before you ask I planned to read them after a deal had been agreed). To me its flogging a dead horse..
The music stopped and there weren't enough chairs........

I just read the message of Laustin. Saw confusion, I gave a generic "in administration" response.

Thought he(she?) must be wondering what chance is there of getting any money back with going into administration.

There are lost of posts about Investigations and compensations.

Someone reading this new to it all and caught out could think there is a chance of getting some money back.
I DOUBT IT VERY VERY MUCH.

Laustin this might not be exactly what's happening, but it was what should happen when a company goes into administration. As far as I am aware.

One bidder in an auction....makes for a low price.

They may get a better price by selling off each part of the business or contracts off to interested parties.

Perhaps they feel selling all to one contractor and having all the people just turning up to work on Monday (or Sunday for that matter!) is more important than having 10 or 20 firms bidding away for the work they have and getting more money back. Some contracts could be put out to tender anew and line drawn.
Hard to say.
The "administration team" run to extract maximum value not ease of continuation could be a route to take.
If your looking at what is "not quite right" for shareholders.

Undervalued is the point.If you look back about 6 or 7 posts to the one marked "profitability" after reading this to confirm my point.The over the last year the share price dropped slowly then massively;There has not been much in the way of work (58% utilisation).The banking covenants have not been breeched after discussions with lenders..There is enough work there now to "better than break even" with long term contacts confirmed (and 72% utilisation).There could well be more contracts.There will be cost savings.There are loan renegotiations (probably leading to a better deal for GMS) Even before you take adding new contracts or loan renegotiations this year the company is primed to produce a profit at the of 2019.(I guess around 5 million, Adjust net profit of 30 million, EBITDA of 75 to 80 million, poss 90).Luckily the share price doesn't reflect this......get it while its going cheap. 30;s to 40's looks adjusted back.ROLL UP ROLL IP Cant help anyone more than that looking Monday.or Tues........save you searching a ton of RNS.

Quote from 26 pages back.
GFD.
"At the time that the Seafox RNS landed, the shares were trading at 20/21pps and rising. It really was an unwelcome intervention. We've yet to hear what our BoD makes of it."

As for the Revenue figures. Seafox 5. Shariah Loans.
The revenue in 2014 was 196 Million.
The revenue in 2015 was 219 Million,
I have not dug deeper nut I think these are around the same utilisation but 2015 having better day rates increasing revenue. I also believe (and again I haven't dug) but it tallies with me rough calculation in the earlier post of 194 Million for 100% utilisation..
Perhaps GMS would have been happy for an extra vessel or even 2. and could have found the work for it?
Perhaps the Shariah loan was aimed at that at the time? the numbers add up.
One thing is for sure.
I am sure if day rates are low and the work isn't forthcoming there are bargains to be had!
Perhaps the refinancing could include buying another vessel on the cheap!
They truly are amazing pieces of engineering.