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NAUT.L12.00GBp0.00 (+0.00%)

52wk Low / High
10.50 / 33.50
Market Cap
£4.33m
Shares in Issue
36.11m
Earnings Per Share (TTM)
-
Current PE Ratio (TTM)
-
Div / Yield
- / -

Quotes delayed, except where indicated otherwise. Currency in GBp.

Overview

Nautilus Marine Services (AIM: NAUT)  is focused on the energy services sector with particular interest in offshore services and assets. Nautilus makes investments in offshore service assets and related technology, which may be placed into service when market conditions allow for profitable contracts.

Currently the Company is taking advantage of distressed market conditions to accelerate investments in offshore service vessels and applied technology, and subsequently integrate, assess, enhance and operate these assets to realise value in the future.

Although the exact timing of an oil price stabilisation and following recovery is unknown, the Group believes that a future price recovery is, at some level, inevitable. The Directors of Nautilus believe that over the next eighteen months there will be an opportune period to consolidate and acquire within the energy industry at low prices in order to expand and create a more diversified portfolio of assets and/or companies that can take advantage of a future oil price stabilisation and longer term recovery.

www.nautilusmarineplc.com 

Directors

Mikel D. Faulkner (Chairman): Mikel is an ex Officer in US Naval Nuclear Power Program and Chairman at HKN, Inc.

Alan Henderson (NED): Alan is current Chairman of Smart Matrix Ltd, a Director of North One Garden Centre Ltd and West Six Garden Centre Ltd.

David Paul Quint (NED): David currently serves as Director of Arundel AG and as CEO of Arundel Group Ltd.

Donald Zac Phillips (NED): Donald is currently NED for Kairos Petroleum.

John Payne (Ops Director): 30 years’ experience in the international subsea sector.

Anna Williams (Dir of Strategy & Business Dev): Ex FD of Global Energy Development PLC

Sarah B. Gasch (FD): Ex Executive VP and COO of HKN, Inc.

Financials

P&L2016
US$~000
2015
US$~000
Revenue178365
(Cost of sales)(602)(978)
(Total Loss)(6,627)(23,564)
BALANCE SHEET2016
US$~000
2015
US$~000
Cash & Equivalents16,44625,608
Total Assets30,16735,502
(Total Liabilities)(4,531)(3,249)
Net Assets25,63632,253

Peer Group

Plexus (AIM:POS): wellhead and mudline suspension equipment

Getech (AIM: GTC): consultancy services to natural resources sector

Enteq (AIM: NTQ): oilfield services technology and equipment supplier

Major Shareholders

Directors’ Holdings

Mikel Faulkner – 1.02%
David Quint – 0.37%
Alan Henderson – 0.04%
Zac Phillips – 0.04%

Others

HKN INC – 35%
Lyford Investments – 25.41%
Barclays Stockbrokers – 3.54%
Hargreaves Lansdown – 3.23%

 

Macro Indicators

FinnCap Note, (April 2017)

“Due to the doubling of the oil price over the past 12 months, we are starting to see previously shelved projects being reactivated. In the US, the focus is on the Permian basin, where there has been a sustained increase in activity this year. However, we also expect to see more activity in the Gulf of Mexico, where Nautilus will initially be active, and we can therefore expect to see increases in demand for offshore services.”

 

Media Coverage

Digital Look (8th Feb 2017):

“Global Energy Development to change name to Nautilus Marine Services”

“Oil company Global Energy Development’s shares climbed on Wednesday following confirmation that it will change its name to Nautilus Marine Services, as well as buy 11 offshore subsea service vessels and a barge vessel. The AIM-listed company said that it gained approval for the name change and acquisitions from shareholders at a meeting.”

Broker Coverage

FinnCap (House Broker: April 2017)
“Due to the doubling of the oil price over the past 12 months, we are starting to see previously shelved projects being reactivated… we also expect to see more activity in the Gulf of Mexico, where Nautilus will initially be active, and we can therefore expect to see increases in demand for offshore services. We are of the view that Nautilus’s decision to move into the service sector is the right one as we are of the view that it will see greater gains in value than the E&P sector in the medium term. There are still a number of distressed assets and companies that could provide significant opportunities for Nautilus, not just in the US, but also overseas .”

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