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NMS - Neptune Marine Services

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plasma - why do you dwell on the past ?

everything we read equals a bright sunny future, as long as you hang around long enough.

so much work to be done across western & northern australia, and as its from start (surveying) to finish (production) and NMS' capability in each section of so many projects, its inevitable they get contracts (of growing significance). and then repeat this process across all the greenfields in the oil world, as well as their original target of brownfields.

yeah the current SP sux, yeah they miss forecasts (only due to other parties delays) but every year is better than before, and not by percentages, but by multiples.

as is said many times, throw them in the bottom drawer, and only open it to throw in more handfuls you acquire at current prices. oh and for those with options, dont forget to open it before december 2010 to exercise them.
 
Plasmapark said:
Sophie, M'tapu, (lazy I know)
Yeah the light will be brighter, yeah the earnings are amazing and, yeah, it's cheap.
It's just all this wading in cold porridge, in the middle of a dark tunnel, that's taking its toll.
Some days I wish the US and it's accompanying sub prime debarcle was on another planet.....in another galaxy.....far far away. :rolleyes:
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Plasma, I know the feeling, but Sob is right, hang in there, just look at the progress to date. I have no doubt it will come together in a very big way. If only we could pick the highs and lows on this since 2004, you'd be in the top20 for sure, like Sob probably is (haha). I thought I told you about cooking porridge in disused railway tunnels, try cabbage soup.

I'm a bit confused as to the relevance of the announcement yesterday. Completing 2million dollars of work on Nepsys?? And I did think the GOM 3.4million one was one that affected the earnings for 08, I wonder whether that counts for 08 or 09? But can only help with companies like Chevron using the weld, you'd think the demand will one day explode if it's so good??
 
Hi Sophie
I think Mr L was just taking the opportunity to do a bit of marketing and remind the market that there is a bright future for NMS.
The $2m work was supposed to be billed by 30 June and as it wasn't I guess it was reasonable to inform the mkt once it was. Can't complain about lack of news!

:)
 
oldblue said:
Hi Sophie
I think Mr L was just taking the opportunity to do a bit of marketing and remind the market that there is a bright future for NMS.
The $2m work was supposed to be billed by 30 June and as it wasn't I guess it was reasonable to inform the mkt once it was. Can't complain about lack of news!

:)
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I thought that to re the marketing. But the job announced 25march was specifically a Nepsys job and worth 3.4million, obviously considerably more than 2million, and much more notable for an announcement if the job was completed. On further looking at it, there was no timeframe put on it, so I assume it's still to come. But i also thought that was one of the jobs that affected the 08 earnings, considering the margin on Nepsys is so high. Maybe someone can shed some light on that, any experts?? I think NMS will do well regardless of the weld anyway, they have nearly ten expert companies in the fold so far. They have, i think, very smart management and the list of the companies that they have all worked for is impressive.
 
Don't get me wrong guys.....I'm in this for the long term.
I seriously doubt I'm dwelling in the past, the US debarcle still has a ways to run IMHO.
It's just disappointing to see Neppies SP get hammered so hard for no good reason, other than lemming mentality.
And yes.....I'm still spewing I don't have the readies to purchase while the SP is so low but, glad I don't have to turn a paper loss into a real one.
 
SophieSweet said:
I thought that to re the marketing. But the job announced 25march was specifically a Nepsys job and worth 3.4million, obviously considerably more than 2million, and much more notable for an announcement if the job was completed. On further looking at it, there was no timeframe put on it, so I assume it's still to come. But i also thought that was one of the jobs that affected the 08 earnings, considering the margin on Nepsys is so high. Maybe someone can shed some light on that, any experts?? I think NMS will do well regardless of the weld anyway, they have nearly ten expert companies in the fold so far. They have, i think, very smart management and the list of the companies that they have all worked for is impressive.
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The Nepsys work for 2million was for the installation of 2 sleeves to strengthen
a leg on a platform in the Gulf of Thailand and some repairs to a rig in GOM. The 3.4m job in the GOM was scheduled for May and was to take 30+ days to complete working round the clock. This job would not have affected 08 earnings.
Good to see the SP on the move up again. 45c the last time I looked.
 
Solid annoucement today! great to see the SP has reacted so postively to the news. Expect to see more contracts over the next 6 months. Wish i had a few gorillas spare to throw at neppy at these current prices.
 
Does this mean we can start dreaming about what we are going to spend profits on again, rather than trying to calculate how long we can hold out?? Whatever!

Thanks for that Mr M, I didn't dig that deep to see when it started, the initial announcement made no mention of it. And it's great to see the SP moving, if it only waited another week or two though:banghead:
 
I've seen on another forum that ABN Amro have initiated coverage with a target price of 61c.
Can anyone confirm?
 
apparently it was in a newspaper article in WA last week - and apparently comsec listed them as covered by ABN, but no price target given.
 
oldblue said:
I've seen on another forum that ABN Amro have initiated coverage with a target price of 61c.
Can anyone confirm?
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According to Sophie's post on 5 July ABN's target price was 67c. Compare that to Pattersons who have a hold recommendation and a target price of 82c-87c and State One stockbroking who have a long term buy and a target price of 88c. Thats a hell of a difference. I guess a lot depends on their valuation methods.
 
Macquarie has upped its shareholding in NMS from 40.07m to 51.8m. The reason I am guessing is to keep up their voting rights. Thats positive news.
 
oldblue said:
I've seen on another forum that ABN Amro have initiated coverage with a target price of 61c.
Can anyone confirm?
Click to expand...

That's right, I read that report from ABN a few days ago..
NMS looks like a decent buy at the moment, might pick up a few..
 
after todays announcement regarding the postponement of the vote for langes package, a poster from another forum apparently emailed lange to seek an answer as to why. the response was......

We decided to cancel the EGM as we believed that it was more prudent to defer matters till the AGM, simply an issue of timing. I have no intentions of departing NMS, I'm afraid you'll have to put up with me for quite some time yet. Certainly no reason to be concerned, NMS is in great shape and moving ahead as planned.

Best regards
Christian.

now im on expert on reading between the lines, but others have highlighted that maybe management realised other issues (issue of timing) were too important to be concerned with minor things like management remuneration.
is it possible something significant is near ?

the 2nd comment i have highlighted simply to show a bit of arrogance, and maybe cheekiness, to express such things. could it be that things are going so well - just maybe !!

considering the forecasts WOR gave this week on their newly established offshore division, the gains promised for so long may soon be forthcoming.

stay tuned.
 
SoB, can't really disclose much info. But they view the sector's future as being very bright, particularly because of S/D factors and the huge amount of investment into energy - both on and off shore. I bought in today, great value below 50c in my book. :)
 
C'mon, record FY profit of 10.8m and still no one posts, considering that puts them on a PE of 17, and their earnings are really just starting in terms of their porojects, I think that shows their underlyinf profitability. To hold above 60c at the close would've been nice, but it has still been a nice little rally the last few days :D
 
here you go andy........

apart from all the obvious bits & pieces regarding the profit, exceeding their own & brokers forecasts etc etc, i just wanted to highlight those things hidden within the report......and others may reveal some as well.

FY09 NPAT of $22-$24m - as already highlighted on another thread, considering the 2nd half of 08 alone produced $8.7m, you could safely assume they will exceed that figure easily, with good contributions from the newer businesses, vessels, rovs and general uplifting of the existing divisions (considering the major projects underway in the next 12 months)

".......our aggressive, proactive approach to bidding & tendering....." - interesting comment - how proactive ?
is this just the cross-selling of the services NMS provides, or something else. any engineering types want to contribute ?

the $8m contract won by tri-surv for the proposed pipeline route for the ithchys INPEX project - whats the chances of neptune diving laying the pipes, onto sea struct mattresses, and a myriad of other roles too.
keep a close eye of this project - news due any day regarding the (hopeful) intention of using darwin as the lng processing base.

lange often uses the term 'at least' when advising of the revenues expected from a project won. the simpson pipeline was 'at least $8m' - it proved to be $13m.

the industry wide skills shortage effecting link weld & subsea engineering - apparently some extra staff were obtained when the resources industry in WA had forced shutdowns due to the varanus island problems.

the 2nd vessel is coming to neptune 'mid charter' - the client was happy for the ships owner to change during this particular project ?

a nepsys project scheduled for the north sea NOW - could this be the fabled BP work ?

5 graduates coming onboard soon - possibly from that programrun by university of WA, specialising in offshore O&G work. hopefully more to come.

damn fine report - sure beats cheering over a ship weld off port kembla !!!!!!!!!!
 
The following was taken from Reuters UK just now.

Energy companies, whose 4,000 platforms in the Gulf produce a quarter of U.S. crude oil and 15 percent of its natural gas, braced for Gustav by evacuating personnel and shutting down three-fourths of their oil production. [ID:nN30468468]

Katrina and Hurricane Rita, which followed it three weeks later, wrecked more than 100 Gulf oil platforms, but Gustav could deal a harsher blow. [ID:nN30472395]

"This storm will be more dangerous than Katrina," said Planalytics analyst Jim Roullier. "I think this storm will prove to be a worse case scenario for the production region."

I know the possibility of extra work for NMS following hurricane 'Katrina' 3 yrs ago was discussed to some extent on this forum then & I was just wondering if it is more likely this time round (if it does happen) as they are a much bigger company now & have more services to offer. I hope the people of New Orleans are spared another devastating blow but thats not to say the storm wont damage some of the platforms in the GOM & then miss New Orleans.

Any thoughts?
 
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