Ripley94
02 Nov 2019
Always getting these two mixed up Primoris… XXXX Primoris Services Corporation to Acquire Willbros Group, Inc. Email Print Friendly Share March 28, 2018 07
0 ET | Source: Primoris Services Corporation Primoris Expects to Create New Electrical Utility Transmission and Distribution Segment Conference Call and Webcast Scheduled for 8:30 AM ET Today DALLAS, March 28, 2018 (GLOBE NEWSWIRE) – Primoris Services Corporation (NASDAQ
RIM) (“Primorisâ€) today announced that it has entered into a definitive merger agreement to acquire Willbros Group, Inc. (“Willbrosâ€) in an all-cash transaction. Primoris will pay $0.60 per share for all of the outstanding stock of Willbros and will settle all of the existing Willbros debt obligations, for an enterprise value of approximately $100 million. Willbros is a specialty energy infrastructure contractor serving the Oil & Gas and Power industries across its three operating segments: Utility Transmission and Distribution (“UTDâ€), Oil & Gas, and Canada. Willbros’ infrastructure services platform provides a diverse base of utility, natural gas, and renewable customers with comprehensive engineering, construction, maintenance, repair, and restoration solutions. Upon completion of the transaction, Primoris expects the Willbros UTD business to become a new operating segment, Primoris UTD, which continues Primoris’ strategic plan for growing its Master Service Agreement (“MSAâ€) revenue base. Primoris anticipates that Willbros’ Lineal Oil & Gas operations will be incorporated into Primoris’ Utilities & Distribution segment, the Houston-based Oil & Gas facilities operations will become part of Primoris’ Pipeline & Underground segment, and the Canadian business will become part of Primoris’ Power, Industrial, and Engineering segment. David King, President and Chief Executive Officer of Primoris, commented, “We are excited about the opportunities that this acquisition provides Primoris both in the near and long term. Consistent with our strategic priority of expanding our diverse capabilities through disciplined acquisitions, we believe that the acquisition will provide enhanced returns for our stockholders and can be accomplished without placing stress on our balance sheet. “We look forward to working with the Willbros employees, customers, and vendors as we provide resources and support as part of our larger organization, with the goal of accelerating our combined company’s growth. Both companies share a common goal of ensuring a safe working environment and providing superior customer service.†Mr. King concluded, “We are particularly excited about adding the UTD business and its electric-focused solutions, which are highly complementary to our natural gas utility service offerings. We also see opportunities for value creation in Willbros’ oil field services group and look forward to working with the management of the Canadian and Lineal business units to make positive contributions.†Financial Benefits of the Transaction Primoris expects the financial benefits of the transaction to include: For the first 12 months after closing, revenues of approximately $660 million, including estimated UTD revenues of $470 million For the first 12 months after closing, EBITDA (earnings before interest, taxes, depreciation, and amortization) of $25 million, including approximately $7 million in annual cost savings The addition of approximately $400 million to Total Backlog, including approximately $300 million from the UTD business Within 24-30 months after the closing of the transaction, additional annual cost savings of $7.5 million to $10 million. Primoris expects these savings to be achieved through: — Single company public reporting — Integrated insurance programs — Integration of financial and IT systems — Reduction in real estate locations and costs — Access to bonding capacity for projects, and — Benefits of equipment ownership compared to equipment leasing and rentals Terms of the Transaction, Approvals and Timing Under the terms of the merger agreement, which was unanimously approved by the Boards of Directors of both Willbros and Primoris, each stockholder of Willbros will receive $0.60 per share in cash, without interest, which represents a significant premium to the closing price of Willbros common stock on March 27, 2018. In addition, Primoris will settle all of the existing Willbros debt obligations. The transaction has an enterprise value of approximately $100 million. Primoris intends to finance the transaction through cash on hand and its existing credit facilities. As part of the transaction, Primoris has agreed to provide Willbros up to $20 million in secured bridge financing to support Willbros’ working capital liquidity needs prior to the transaction close. The transaction is subject to approval by Willbros stockholders and certain other closing conditions. In connection with the execution of the merger agreement, certain Willbros directors and stockholders, together representing approximately 17% of Willbros’ outstanding shares, have entered into voting agreements with Primoris, whereby such stockholders agreed, among other things, to vote in favor of the adoption of the merger agreement. The transaction is expected to be completed in the second quarter of 2018. Advisors Houlihan Lokey is acting as financial advisor to Primoris, and Weil, Gotshal & Manges LLP
Ripley94
29 Oct 2019
Placing 25th Feb 2016 PRIM… XXXX Must of been a consolidation here this 0.14p looks to be about 2.64p on trading vein chart . So just under here .
Ripley94
01 Jul 2019
Horse Hill profit estimate HORSE HILL… HI Stonefold you still about ? Big fall in ANGS last week i thought they were involved with horse hill but not on your list so maybe not ?
Ripley94
25 Mar 2019
Placing 25th Feb 2016 PRIM… XXXX Went to 0.15p soon after last post but down to 0.1p again now.
Average_Dave
10 Jan 2019
Rns 10.01.19 Further Investment in Greatland Gold PLC Primorus Investments plc (AIM: PRIM, NEX: PRIM) is pleased to advise shareholders that, as per its investment mandate, it now owns a total of 35m shares in AIM-listed metals exploration company Greatland Gold PLC (“Greatlandâ€; (GGP.L) representing approximately 1.09% of the issued capital in Greatland at a weighted average price of 1.71p per share. Greatland recently reported an excellent combined drilling intercept of 275m at 4.77g/t gold and 0.61% copper, including an upper zone of 118m at 3.08g/t gold and 0.84% copper from 459m and a lower zone of 157m at 6.04g/t gold and 0.44% copper from 660m (HAD005) at its 100%-owned Havieron Gold/Copper project in the Paterson Province region of Western Australia. The assay results for the further 4 drill holes (HAD 006-HAD009) in the recently completed drill programme are currently pending. Previously announced drilling by Greatland at Havieron also yielded excellent results, including 121m at 2.93g/t gold and 0.23% copper from 497m (HAD001) and 21m at 3.79g/t gold 0.44% copper from 418m (HAD003). Alastair Clayton, Executive Director commented: “We have added to our position in advance of the further assay results for the drill holes HAD006 through to HAD009. We hope these results will confirm Havieron Gold/Copper Project in the Paterson Province of Western Australia as one of the most significant Gold discoveries made by any company globally in recent memory.†END - - - A_D
walrog
05 Nov 2018
Over 30 million Traded today. Anyone got any ideas why? ATH WR
Ripley94
12 Oct 2018
Placing 25th Feb 2016 PRIM… Alerting at 0.11 big spread though ( Product closed to clients ( D ) )
Stonefold
30 Sep 2018
Horse Hill profit estimate With thanks to DrRich from lse for spotting the following encouraging pre-planning process: [link] 24-09-2018 “… Planning – Application - Scoping opinion in respect of the proposed drilling of an additional four wells at the established Horse Hill Well Site …†Nothing is certain when it comes to planning applications, but the prospect of adding oil wells HH3, HH4, HH5, and HH6 plus more storage tanks and four gas to power generators to the HH1z sidetrack and HH2 wells previously planned, makes Horse Hill worth noting.
Ripley94
11 Sep 2018
Horse Hill profit estimate Hi Stonefold. No mention of Gun this time
Stonefold
10 Sep 2018
Horse Hill profit estimate Excellent RNSs from the Horse Hill partners. Well worth a read. This will have an uplifting effect on all the companies directly or indirectly invested in the Oil rich Weald basin. [link] 10-09-2018 If one horizontal well of the Portland is drilled (aim to drill in early 2019) and achieves the estimated production flow rates then the valuation in my estimate will be easily met. Any additional production wells drilled in the future (2020 onward) would add to the value and profit. Any production achieved from the lower two Kimmeridge zones would produce additional value and profit. Work has started on preparing the well for testing Kimmeridge layer 4 (flow testing should start within 2 weeks) then the lower Kimmeridge layer 3 will be tested.
Stonefold
10 Sep 2018
Horse Hill profit estimate None whatsoever. Once the decision not to renew the Bury Hill Wood lease had been made, there was little point extending the injunction protecting that site. As the licence PEDL 143 was recently been extended until 30 September 2020, they still have time to look for alternative sites from which to explore the Holmwood prospect. The Interim Injunction for Horse Hill remains in place. A request by protestors for leave to appeal has been refused. The question is do the NIMBY protestors think that the publicity gained from pursuing the matter to the appeals court is worth the money that they will have to get their gullible supporters to pay?
Ripley94
10 Sep 2018
Horse Hill profit estimate Hi Stonefold. What did you make of the EOG court ruling last week any knock on affect with the ones you mention.
Stonefold
10 Sep 2018
Horse Hill profit estimate Update to reflect changed direct ownership of Horse Hill, number of shares in issue, share prices. The figures for shares issued for UKOG includes shares expected to be issued soon - for purchase of PRIM and GUN and SOLO’s stake in HH. £ $ 1.2935 £ Aus$ 1.81926 Ticker == Shares issued == Current share price pence DOR == 50,420,109 == 7.6950 ALBA == 3,034,329,219 == 0.5045 UKOG == 5,566,654,230 == 2.2600 TELL == 240,520,000 == 614.6120 Ticker == % of Horse Hill that each company owns DOR == 6.5 ALBA == 11.765 UKOG == 46.7350 TELL == 35.0 100% of Horse Hill is now valued at £46,153,846.15 Ticker == Current value of Horse Hill that each company owns £. DOR == 3,000,000.00 ALBA == 5,430,000.00 UKOG == 21,570,000.00 TELL == 16,153,846.15 For each company the mcap. is made up in part by the current HH value and by the other value of projects/assets that company holds. Ticker == mcap £ == Other value £. DOR == 3,879,827.39 == 879,827.39 ALBA == 15,308,190.91 == 9,878,190.91 UKOG == 125,806,385.60 == 104,236,385.60 TELL == 1,478,264,782.40 == 1,462,110,936.25 If you now buy £100 worth of shares in each of the four HH companies, 6. For the sake of this calculation the other value remains unchanged. Following a successful EWT, confirmation of commerciality and recoverable reserves, and Near to the start of production the new value of HH by my estimate would be £100 million. This would give an increase figure for the value of the HH part of the £100 invested. From which a profit figure can be produced. Ticker == Profit £ DOR == 90.21 ALBA == 41.38 UKOG == 20.00 TELL == 1.27 .
Ripley94
04 Sep 2018
Placing 25th Feb 2016 PRIM… XXXX Made note of topping up here on 22 august @ 0.13 ( Si ) ( on stonefeld all horse hill tread ) See that was not much better then the mistaken top up on April 3rd 2018 ( wi )
Ripley94
28 Aug 2018
Horse Hill profit estimate Topped these up in ( Si ) on 22nd August 2018 ( 1/2 ) @ 0.13p travelled up to Gainsborough 20th ( this was last Wednesday ) Up a bit since offered 0.137 for same.
