Nice one DS on the Papua offload. Makes sense fella albeit you were squeezed on the sell out price due to the high amount of shares held. Still 15% return in 12 months probably just about justifies the risk taken. City liked it too...Local Shopping REIT next at a small margin yeah?
Anyone know the average cost of the 20m shares Thalassa hold in Local Shopping? At 30.8p they must be slightly ahead on their £6m investment? Also, I notice that Papua mining (although not doing much mining) are actually doing OK. I believe the Thalassa investment was £400,000 at 1p and today Papua are trading at 1.375p. Not sure if DS reads this board, but if so, it wouldn't be a bad idea to update investors with your progress on this arm of the Thalassa strategy. Cheers all.
"WTI $50.17 +46c, Brent $52.65 +13c, Diff -$2.48 -33c, NG $2.79 -15cOnwards and upwards, as a number of things added to yesterday's tick list. The data is coming out regarding long/short positions built in July and they, unsurprisingly, show a ..."
" WTI $45.49 +45c, Brent $47.74 +22c, Diff -$2.25 -23c, NG $2.98 -6cThe EIA inventory stats followed the API numbers and reported a healthy draw of 7.6 million barrels, as predicted here, but not by the goons on the street who had crayoned in 2.3 ..."
"Just before Christmas we covered a small AIM-listed company providing marine services to big oil companies. Its share price had just shot up to a five-month high, but there was confidence another 38% was there for the taking. Less than six weeks ..."
And I tend to agree with The Oil Man...Malcolm Graham Wood, that the results weren't too bad and give rise to cautious optimism going forward. Ok, the market reacts negatively but only to correct to where we were last week and give a market cap of £34m...
Ok, I'm still not up to speed on the strategic purchase of Papua Mining or the cash injection into LSR but both are currently holding their own. More interesting is the new kit and/or technologies that have interest from the MoD. However, an inevitable cash call to investors may well mean a dilution of the share price which can then take a long time to recoup a la Sirius as a recent example.
Anyway, keep up the good work Duncan and maybe smile a little more in the mornings fella before putting your pen to paper :-)
"The Board of Thalassa is pleased to announce that advanced preparation of mobilisation for WGP's 2017 Spring North Sea projects is now well underway with operations anticipated to commence during April, as scheduled.
Further to last December's revenue outlook for 2017, the Board anticipates that WGP revenue from seismic operations will be between $15 and $16 million, up between 30% and 40% as compared to corresponding estimated revenue of $11.6 million for 2016. These estimates are provided assuming no cancellations or significant adverse weather conditions.
The Board confirms that the full year results to 31 December 2016 will be released during week commencing 10 April 2017."
Yeah, it was honest and positive. No mention of the investment in Papua and Local Shopping but then there is nothing much to say on either at present. That said, a renewed strategy of buying back what could amount to 15% of the shares,seems to me a far more straight forward strategy and should underpin the share price going forward, all things being equal. Tempted to grab a few more at this price tbh... GLA that are holding, as ever...
This is mainly due to reserve releases, hedging gains etc, which although one-off in nature reflect well on THAL in terms of their ability to ascertain/manipulate the markets and plan ahead successfully and conservatively.
THAL has around £12.2m of cash and investments against the £13m m/cap, so the business itself is valued at almost nothing.
And a fresh buyback plan will help underpin the share price nicely.
The 2017 outlook of "cautious optimism" is also good to hear.
The Board of Thalassa announces that it estimates 2017 operational revenues (currently contracted) will increase by approximately 29% to circa US$15 million compared to estimated 2016 operational revenues of $11.6 million, before taking into account $2.3 million in data sales."
Worth noting that that WH Ireland's most recent forecast for 2017 revenues is $12.5m, so the $17.3m per today's RNS is some 40% above forecasts.
"LSE:THAL:Thalassa promised this morning a revised trading outlook following a board meeting Thursday. Clearly, a new contract win with American oil giant NYSE:COP:ConocoPhillips, confirmed in a separate statement to the stock exchange seconds ..."
Sometimes things that aren't going well, don't end well. And it takes a brave man to cash a loss, but at least hold some cash in hand for their efforts. To me, this isn't going to end well and at what price do Thalassa hold their hands up and bail. 28.25p and tomorrow is the answer guys if nothing contractually ties you in. The market may actually applaud you for it...Failing that, the oil price is rising again so perhaps we could talk about oil exploration again???
Anybody think Thalassa should cut its ties with LS REIT? The investment opportunity is clearly not what it was and sorting out is in my opinion an unnecessary distraction. Could Thalassa not sell its stake in the company and move on to something else with clearly more potential. If the answer is yes, then let's real this one in Mr S...
I always like DS's statements. I can understand why you'd want to diversify out of the oil equipment sector when it's as dire as the story tells. That said, charging into the relatively unknown, and who on the board has in depth experience of either sector where substantial shares purchases have been made, is a dangerous game. It's in a way added risk which the city never likes and it shifts focus away from what the company has now started to make money from. Perhaps that's why the shares are some 15% lower following the interms as there still remain more questions than answers, imho. GLA that are still holding...
Or investing in The Local Shopping REIT, Oil services company and whatever else we fancy having a punt at....LSR were trading at 28p yesterday and Thalassa got in at 34p if my Math is correct...can we have a comment on strategy Duncan???
Important message from the Financial Conduct Authority:
Posting inside information that is not public knowledge, or information that is false or misleading, may constitute market abuse.
This could lead to an unlimited fine and up to seven years in prison.
If you have any information, concerns or queries about market abuse, click here.
The content of the messages posted represents the opinions of the author, and does not represent the opinions of Interactive Investor Trading Limited or its affiliates and has not been approved or issued by Interactive Investor Trading Limited.
You should be aware that the other participants of the above discussion group are strangers to you and may make statements which may be misleading, deceptive or wrong.
Please remember that the value of investments or income from them may go down as well as up and that the past performance of an investment is not a guide to its performance in the future.
The discussion boards on this site are intended to be an information sharing forum and is not intended to address your particular requirements.
Whilst information provided on them can help with your investment research you need to consider carefully whether you should make (or refraining from making) investment or other decisions based on what you see without doing further research on investments you are interested in.
Participating in this forum cannot be a substitute for obtaining advice from an appropriate expert independent adviser who takes into account your circumstances and specific investment needs in selected investments that are appropriate for you.