Ann: Trading Halt , page-63

Christian gave some clues in his latest Boardroom Radio Broadcast on 31.03.09.

In it he mentioned several things e.g.

. They were working on a very large project in the Gulf of Mexico which he thought would continue through to April.
Has this contract been further extended for a lengthy period of time?

. Short Term, he said they would be focusing on their Global capability. He also stated that they have their Australian set-up generally where they wanted it except for a few niche services that they could acquire or build as time goes by. From this statement it would appear highly unlikely that they would be acquiring another business in Australia.

. He spoke of replicating the Australian business model in the USA, Asia, North Sea, West Africa (Angola) & Brazil.
The USA was mentioned first so it would appear they will be acquiring another business there - they already own USUS. Another acquisition in the USA would tie in with Neptunes short term plan.

. He also said that Neptune needed to broaden the Inspection section of I.R.M., (Inspection, Repair & Maintenance). If they were in fact buying another business in the USA one would imagine it would be to build on their I.R.M. business.

. Christian said that they are looking at acquiring another 2 or 3 ROV's in the next 12 months. He also said they would look at their vessel strategy going forward in terms of BUY, BUILD or Rent. Have they found a business with some of these assets? Will details of Neptune Pegasus finally be officially announced (that would account for the Rent strategy provided the information given to Ervina in Januarly is correct).

. Of particular interest to me was that Neptune has recently hired a guy with 18 years experience with Schlumberger to manager & build the business in the USA. He comes with the same background experience as Christian so I believe we are on a winner here.

To sum up it is my opinion that Neptune will be buying a business in the USA to bolster their Offshore Services division & in particular the I.R.M area. It is also my belief that the eagerly awaited announcement will reveal a huge contract quite likely in the 10's of millions of dollars & be for a lenghty period of time - perhaps 2 to 3 years or longer.

I may be barking up the wrong tree but it seems very plausible given the information Christian revealed on Board Room Radio & of particular note, their short term plans.

These are only my thoughts so as always do your own research.