Mermaid Maritime Plc

[crabcrab]

Mermaid ($0.32) - This long forgotten oil and gas company that is involving in subsea and offshore drilling is likely to poise for a strong full year net profit that will be announced somewhere in Nov 2012. It is worth noted that although the company remained in the red for 9 months ended Jun 12, the company has actually achieved an impressive strong net profit in the 3rd quarter, reversing the previous losses. With the renew growth in the oil and gas industry and major clients like Cheron, BP, Shell etc gearing up for its project.. Mermaid's business in the coming months are expected to be robust. Immediate resistance is $0.36... Thereafter, there should be a strong run.....

The company analyst presentation is available below:

http://mermaid.listedcompany.com/misc/PR...3Q2012.pdf

[crabcrab]

Mermaid ($0.34) - This stock has climbed up 2 more cts since the start of this thread. TA wise, a double bottom trend has established. Momentum trending towards positive. MACD looks good, except for high stochastic indicating some short term over-buying. If recent buyers are genuine investors, instead of traders, the overbought indicators should subside... FA wise, mermaid should be able to ride on the new phase of a oil and gas boom that is currently happen in the industry. A new breakout would be considered if it hits above $0.36..... Watch out for the FY2012 results expected to be announced somewhere in Nov. Expect to be impressive, in contrary to the past 2 years heavy losses, indicating a strong turnaround... Good luck....

[crabcrab]

Mermaid ($0.36) - Mermaid has currently reached resistance level, as mentioned in the earlier post. There is sign of attempt to breakout above $0.375 recently, but failed. Technically, it is currently at the multi-month core breakout point/resistance level and it is poised to breakout at anytime following with a flat double-bottomed pattern. Chart seems to show bullishness in the near term. A breakout from the current level indicate a target of more than $0.50 level. What cause the breakout may probably be the anticipation of announcement of a good set full year results that is coming somewhere in the next 2 -3 weeks. (Caverat Emptor)

[crabcrab]

1) MERMAID’S ASSOCIATE ASIA OFFSHORE DRILLING LIMITED SECURES DRILLING CONTRACT FOR JACK-UP RIG ‘AOR-1’ - Contract duration is a minimum of three years plus a one-year option. Potential revenues for the first three year period are approximately US$ 197 million plus US$39.5 million mobilization fee.

http://info.sgx.com/webcoranncatth.nsf/V...2005F00DD/$file/Mermaid_AOR1_Contract_25102012.pdf?openelement

2) MERMAID SECURES SIGNIFICANT CONTRACT FOR SUBSEA SERVICES
Contract secured with reputable client by joint-venture company formed between Mermaid and local offshore services operator. Contract duration is a minimum of five years plus a two-year option. Total contract value for the five year period is estimated to be approximately US$ 530 million. Mermaid’s potential revenue is between 60 to 70 percent of the said contract value over this period.

http://info.sgx.com/webcoranncatth.nsf/V...2005F24ED/$file/Mermaid_Subsea_Award_25102012.pdf?openelement

[crabcrab]

Ezion Vs Mermaid
Industry: Oil & Gas Maritime
No. of shares issued 831 million vs 784 million
NTA S$0.376 Vs S$0.63
EPS 8.14 SGD cts vs -0.21 bauts
Share Price as of 25 Oct Closing: S$1.355 vs S$0.34

Sources: Annual Reports 2011 (Caveat Emptor - Go do your own research)

[crabcrab]

Mermaid's largest shareholder - TTA proposes capital increase for worthwhile investment opportunities and future returns

http://info.sgx.com/webcoranncatth.nsf/V...8004BD6B1/$file/Mermaid_TTA_News_31102012.pdf?openelement

[crabcrab]

Mermaid ($0.36) - Likely, this is the final one or two attempts to breakout out from its resistance level. After which this stock is likely to fly....

[crabcrab]

Mermaid ($0.38) - this is likely the point of a final attempt to cross the resistance level of 0.385.. Estimated to be 65% to 75% chance for this little Mermaid to surge beyond its resistance of 0.385.. Once cross this point, we are likely to see a powerful surge that could easily cross $0.40 and above.. Likely to see such movement withing the next few days, barring any unforeseen circumstances.. Good luck!

[crabcrab]

Mermaid ($0.39) - Technically, the symmetrical rounded double bottom formation that last for about a year, has reached the tip of a RHS of the resistance turned support level at $0.385. Although there might still be some nimor selling due to the near high stochastics, MACD & DIs have turned positive. On the whole, the offshore & Marine industry seems to have entered a new cyclical phase that may last for a few years. Abundance of contracts have bode well for this sector. Mermaid has also confirmed its turned around last last quarter and coming results is expected to continue to be excellent. Major shareholder,TTA has recently completed its rights issue, hence supporting a good source of funding support, if any.... Let's hope for the best... (Caveat Emptor, Crabcrab vested).

[lonewolf]

I appreciate yr enthusiastic one-man show for the company but would like to provide some prospective to the company's share price performance since its listing.

While the company has certainly moved in line with the general market over the last 9-12 months, IPO investors will be deep out of the money. The company had its IPO on 16 Oct 2007 at $1.56. The 9-for-20 rights issue at 64c was carried out in 2009 (not that recent). I estimate IPO investors who subscribed to the right issue will still be 60% out of money.