A very nice contract in Gulf of Thailand and a brilliant development for the company. No doubt, consulting, tendering, negotiation, etc, etc for a project award like that has been going on for a year or more (no, this sort of thing doesn't all happen over a matter of weeks like so many always expect it to).
It will be interesting to see how the relationship between Mermaid Offshore Services in Thailand and Neptune spans out over time. Both companies involved in IRM, ROV, general diving services, etc. By the looks of things, they are looking at riding out a very healthy business environment too and are expecting to seriously boost their revenues for the coming year also. (Do the research, it is worth the look).
Also significant from the announcement is that it is the first major job for Chevron that we have heard about. All going well, there is more work where that came from obviously. Across the board for projects from here on, the margins will remain good; the global operating footprint of the company will spread and project values will only continue to get larger as time goes by.
Forget the share price (although admittedly disappointing in the short term). It is obviously having a holiday South and a break from reflecting the growing realities from within business. Neptune remains a multi-billion dollar international company in the making the way it is coming together. Some may be getting fooled into thinking otherwise. If you were in earlier, you were in at ground level. If you are in now, you are still due to do exceedingly well no matter what level you bought it.
Relax, sit back and watch the company grow year on year for years to come.
NMS Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
