Global Marine Energy.

GLOBAL MARINE ENERGY

Interim Results
For the Period ended 30th September 2005

Global Marine Energy ("GME"), the oilfield services company, today announces its
Interim Results for the six months ended 30th September 2005.

Key highlights:

* Continued progress made in restructuring business, rationalisation
programme complete;

* Steady increase in order levels experienced;

* Sales team expansion into new territories proving successful;

* Enquiry levels high, new customers won;

* Gross Profit #1.52 million; overall loss including rationalisation costs
#496,844; and

* Current order book #11.3 million

Post Period events:

* New Broker and Nomad appointed;

* #4.75 million placing; and

* New banking facilities now in place with RBS.

Philip Wood, Chairman, Global Marine Energy Plc commented:

"The results reflect the reorganisation costs and the restrictions we have been
working under due to the cash constraints. Despite this we have attracted major
new customers and continued to expand internationally.

The Company is now trading profitably and the monies from the Placing and the
new bank facilities should allow us to accelerate our growth. GME is now
properly funded and as a result the Board is confident that it can continue to
grow turnover and to increase profitability."

28th December 2004

For further enquiries contact:

Philip Wood, Chairman, Global Marine Energy plc 01274 531 862

Adam Westcott, Noble & Company Limited 0131 225 9677

Michael Padley / Susan Scott, Bankside Consultants 0207 367 8888


Chairman's Statement

The results for the half-year reflect the reorganisation costs and the
difficulties that we have been operating under due to the continual lack of
working capital. However, turnover did increase in the period. Order books
continue to grow and tender enquiries to rise. Gross profit for the six months
was #1.52 million (Year to March 2005 #1.42 million). Turnover increased 167% to
#4.12 million.

The losses, for the period, whilst disappointing include the last of the
rationalisation costs relating to the recent acquisitions. We have removed a
further amount of fixed cost from the business and fully integrated the
acquisitions into two divisions: Patriot and NIM. We are trading profitably but
the benefit of the action we have taken and the re-financing carried out in
November will not be fully reflected until the next financial year.

In the period we have won significant orders from China, Mexico, Brazil,
Singapore and USA. We have also expanded our international presence by
appointing an agent in Korea and a Sales Manager, based in Brazil, to build upon
Patriot's success in South America and most recently one in Asia.

Underlying confidence is high, we are continuing to win new clients and to
increase the order book which currently stands at #11.3 million.

Post Period Events

Although we have continued to win new orders the most important event was the
re-financing of the business. In November we completed a very successful Placing
which attracted a number of the UK's leading institutions and raised #4.7
million (before costs). I also converted my loan to the Company into shares. We
have also finalised the new banking facilities with RBS in Leeds.

As a result we now feel that GME is properly financed for the first time in its
history, and that we now have the funding to grow the business and to take
advantage of the work carried out by the Board over the last 2 years.

Outlook

We have completed the rationalisation and integration of the businesses and we
have expanded the marketing into new territories. As a result of these actions
being taken the Company is now trading profitably and attracting new customers,
worldwide. The Board is confident that it can continue to grow turnover and to
increase profitability.


P Philip Wood
Chairman 28th December 2005