Member Info for Taverham

Icecool -if Wood is'nt distressed please point out a company that is. No CFO, uncertainity on project controls, negative cash flows and unquantifiable write downs, an inexperienced and out of depth CEO who can't make a forecast and stick to it and a BOD who are incapable of DD on appointing candidates.

God help the distressed companies.

So the CEO can tie up a deal, get a loyalty bonus and a payout or refuse the takeover and get sacked- we realise he is an idiot but I think he will go for the takeover.

I think this will close around 36p tonight and once the newspapers say something tomoorw this will open around 38p and climb to 40p. Not expecting much more unless/until there is a leak or another party.

There are others who could join the fray at this price - e.g Jacobs - the CEO's previous employer.

Were the weekend rugby and football results bad for Bookies?

Could it be bets from the weekend Rugby went with favourites?

Island Girl, well lets hope the sp heads way north of Mull - beautiful though that is!

Had another top up at 34p - risk at that price seems low to me.

@island - yes Unst will do it.

Which Island are you from?

MV, the truth on Harold Wilson - the man who suddenly resigned for no plausible reason to make way for ......... an older man. No doubt in my mind he had soviet links or was compromised.

If people overseas are getting UK benefits we need to re introduce 'signing on' i.e turning up at the office each week like used to happen. I bet that would cut the payments at a stroke.

There are numerous DB pension schemes within the Wood group from legacy companies and their many legacy schemes. Many of them are capped at say 5% , which protects the scheme against rampant inflation. The consequence of the recent inflation and rising interest rates should men the surplus will grow from that stated. As to whether the company can claw the surplus back? Who knows said a Wood group pensioner!

STP, I am sick of people running down the country's economy from Downing street.

The whole idea that an income as low as the state pension is, at £12.5k should be taxed is insane. I keep reading that the spending on benefits by the government is rising - but who is getting them? I think we need a Doge . Also is it true that benefits for children living overseas can get UK benefits? Are people able to rock up here live for a year or so , get on the benefit merry go round and then live overseas and draw that money? Genuine questions .

@Lokiloo - yes the voters in other countries are blaming their 'Labour Party' . Even though Germany enjoys lower electricty prices than the UK the electorate have had enough and booted the SPD out of Office while doubly the vote of the so called far right. See BBC website for details.

The upward trend here is still strong - as Island Girl says - grinding its way north- probably equivalent to Leeds on a journey from IOW to Scotland!

@Lok - I agree withn your analysis on who voted for this lot. Problem for those people is that the downward trend continues but at a faster pace. To build a thriving economy we need lower energy prices as a starter , lower government spend and lower inflation - Labour is doing the opposite.

CEO has zero Oil and Gas experience - how on earth did he get the job? CFO , who left ditto, no wonder they could'nt manage to produce sensible figures for the Projects.

He has to go - simple.

Wiggly - good post. I was thinking along the lines that the bidders initially offered around £1.8 bn , thinking the debt was around £1bn and the cash flow would turn positive this year. It seems that the big change is between 100 and 200m cash flow difference has emerged [if we can trust the part qualified accountant] , meaning their offers would be around £1.6bn now. Therefore your sale price figure is indeed worst case. I am certain those invloved with the initial bids will be having a rethink.

Having thought about the raise and the wording of what they intend , it is my guess they tried for more money but got no takers. I reckon they needed £1m plus to do the work they outline and pay the overheads over the next few months but the investors said no way all guesswork of course.