AIM Soiree Butler SeaEnergy SEA.L

SeaEnergySeaEnergy PLC (formerly Ramco Energy plc), a Scottish public limited company, and its subsidiaries and associates form an energy group, headquartered in Aberdeen, Scotland. The Group is currently establishing an offshore energy services business, which aims to provide access and other services to the expanding offshore wind industry as well as to other offshore energy clients, and also holds a number of investments in oil and gas.
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  • Re: target 60p by SlagChops
    Fri, 27 Mar 2015 08:26:00 GMT

    Usual story on AIM, a spike after good news then a gradual retrace. Still underwater on this one by quite some margin unfortunately. By SlagChops
  • Re: target 60p by woodcroft53
    Thu, 26 Mar 2015 18:55:00 GMT

    That 60p target seems light years away as per usual - this share continues to be a big disappointment and I can't see me ever making my initial investment back - nevertheless I will continue to wait it out while the company directors continue to take their fat salaries while delivering nothing the shareholders. By woodcroft53
  • target 60p by southernstar
    Mon, 23 Feb 2015 10:29:00 GMT

    Found the Investors Chronicle article from last September...very encouraging. ! By southernstar
  • RNS - BP Atlantis contract accelerated by SlagChops
    Mon, 23 Feb 2015 07:09:00 GMT

    SeaEnergy PLC (SeaEnergy or the Company)

    BP Atlantis contract accelerated for SeaEnergy subsidiary Return To Scene

    Return To Scene Limited, a wholly owned subsidiary of SeaEnergy PLC, is pleased to announce that BP has brought forward its deployment of the R2S Visual Asset Management (VAM) spherical photographic capture of its Atlantis facility in the Gulf of Mexico (GOM). The R2S photographic team is already on site in the US with project completion, expected during Q2 2015.

    The contract, which has a stand-alone value of US $450,000, falls under a Global Agreement between Return To Scene and BP which has been in place since 2013. BP has used the R2S software/services on nine assets to date, including its three other offshore facilities in the Gulf of Mexico; Mad Dog, Thunder Horse and Na Kika.

    John Aldersey-Williams, CEO of SeaEnergy PLC, commented that:

    "R2S helps BP to bring the onshore and offshore teams of its assets together, allowing remote collaboration, increasing efficiencies and reducing the need to travel to the asset.

    The Atlantis project is very exciting for us as we continue to expand our presence in North America, driven by our team in Houston. As part of our wider internationalisation efforts and in line with our Global Agreement with BP, we look forward to supporting BP in its diverse geographic activities." By SlagChops
  • info by forwardloop
    Wed, 18 Feb 2015 01:25:00 GMT

    link

    SeaEnergy (LON:SEA) believes it is primed for growth as its niche software service offers easy cost savings to an increasingly frugal oil and gas sector.
    Contractors to oil companies have naturally been among the worst hit by collapsing crude prices, as the large nuts-and-bolts engineering groups such as Petrofac or Wood Group were among the first to be squeezed.
    But, a newly cash conscious sector is ripe for SeaEnergy’s niche Return-to-Scene (R2S) business, according to chief executive John Aldersey-Williams.
    R2S provides computer modelling to create a 360 degree interactive visual interface that oil rig and gas facility operators can use for virtual maintenance and planning.
    Crucially, it can also provide oil companies with significant savings in the planning of decommissioning fields that are no longer economic or that are to be suspended.
    “What we know, and what our customers know, is the R2S software saves costs,” he said in a recent interview with Proactive Investors.
    He says the value proposition is clear: installing the product saves money, it saves time, and it removes the need for unnecessary travel to and from facilities.
    The installation of R2S pays for itself several times over in the very first year, Aldersey-Williams added.
    “In a world where oil prices are low R2S is a very good way of accelerating value out of a project.
    “Our clients know that it is a cost saver, it adds value to their businesses and even in a world where they are having to think about decommissioning platforms - it is a fantastic tool for planning that process and keeping cost out of the process.”
    SeaEnergy earlier this month told investors it will meet the market’s expectations when it releases its results for 2014 on April 16, and the outlook for the start of 2015 was said to be strong.
    R2S is very much a transferrable ‘solution’ – indeed, it was first developed to model crime scenes – though the upstream oil and gas sector is currently the core focus.
    Aldersey-Williams sees it as a market with huge potential.
    The software has so far been used to ‘capture’ about one hundred facilities across some 50 contracted projects and it has been contracted in some capacity by four of the world’s five ‘super-majors’.
    Nevertheless, this represents just a tiny portion of the potential market, according to research commissioned by SeaEnergy, which indicated there were around 10,000 platforms around the world that could be modelled by R2S.
    “There is a world of opportunity out there for us,” Aldersey-Williams said.
    SeaEnergy also has a consulting division which complements and adds to the effectiveness of the R2S software/service, and legacy assets including an interest in Irish oil firm Lansdowne Oil & Gas. By forwardloop
  • RNS by SlagChops
    Wed, 14 Jan 2015 08:02:00 GMT

    CANADA CONTRACT WIN FOR RETURN TO SCENE

    Return To Scene Limited, a wholly owned subsidiary of SeaEnergy PLC together with its Canadian distributor NSB Energy Inc., is delighted to announce the award of its first contract for the R2S photographic capture in Canada. The contract value is estimated at US$ 800,000.

    Return To Scene's innovative R2S visual asset management system provides high definition 360° spherical photography - photographically capturing offshore oil and gas assets and providing the user with a desk top visual, interactive walk around. The R2S photographic team is already on site in Canada.

    To date the R2S system has been used by 16 operators in the UK Continental Shelf, US Gulf of Mexico (GOM) and Mexico including BP, Chevron, Total, ConocoPhillips and PEMEX, on a diverse range of projects. Operators have identified improved resource efficiencies and R2S has also been credited with enhancing collaboration between multiple disciplines providing better planning, confidence and preparedness - benefits leading to tangible cost reductions and increased production.

    Bob Donnelly, Director of Business Development for SeaEnergy PLC commented that:

    "We are delighted to secure our first project in Canada as we continue to grow our presence in North America, supported by our team in Houston, and as part of the Group's wider internationalisation process."

    He continued: "We have a strong order book for 2015 and our look ahead for the first half of 2015 is particularly robust with a significant contribution from North America."

    Michael Critch, President and CEO of NSB Energy Inc., Canadian based distributor for R2S in Canada since 2012, commented that:

    "As an agent for oil and gas personnel and services, NSB Energy is excited to attract and leverage some of the best internationally recognised technologies for use offshore in Canada. This contract award demonstrates the importance of using the best technology the world has to offer to manage offshore facilities and optimise the recovery of Canada's offshore oil and gas resources. We are proud to facilitate and manage this great service provided by Return To Scene."

    By SlagChops
  • Re: Mello2014 investor event by lordbletherington-smythe
    Wed, 26 Nov 2014 18:30:00 GMT

    I asked the CEO at Mello whether they would need to raise funds. He gave a categoric 'no' answer. I actually think raising some funds to institutions only would be a good idea. This company needs institutions on its share register to give some oomph to the share. However, having bought back shares at 36p a couple of years ago, to issue shares below that now would look a bit silly, and would possibly imply that they dont see LOGP rising anytime soon. Given they are cash generative and profitable now, there is no urgent need. Even in the event they won a tender for their ships to service offshore wind farms, they have the option of raising debt finance. The directors and ex directors hold 25% of the shares, and almost half the staff have just participated in the SAYE scheme, so I doubt it is something we will see, certainly until the share rises to over 40p. As far as I can tell, the only cash committment they might need in the short term that cant be covered from existing income is some money for an Asian HQ for R2S, but as that will probably be a small rented office initially, that shouldn't need special funding. The free float of shares here is very small, which is why we saw the rises on mainly tiny volume, and why the opposite is happening now, also on tiny volume. The mms only make a market in 10k here, which is less than 3k's worth. I am hoping the new Nomad will change it to 25k, and better still, move it onto SETS, where institutions can directly get involved. The cash balance was approx 600k-700k on 30th June, and since then R2S has had a record quarter, and marine a further 2 ships under management, so its fair to assume that the cash balance is comfortably over 1mln. Or am I missing something?! By lordbletherington-smythe
  • Re: Mello2014 investor event by rollthediceagain
    Wed, 26 Nov 2014 12:27:00 GMT

    Quite like the look of Seaenergy, the fact they're confident of going into profit Q4 but low cash balances & reliance on overdraft facilities (rather than term debt) is a niggling doubt. This looks ripe for a placing. If they did so I'd buy a few! By rollthediceagain
  • Mello2014 investor event by davidosh
    Fri, 31 Oct 2014 06:12:00 GMT

    Just making sure that you are all aware that SEA are having a stand for three days and presenting on two of the days at the Mello2014 investor show in Derby next week.

    www.mello2014.com

    It is the first time this event has been held but there will be nearly 20 Keynote speakers. 50 listed companies and tens of investor focussed panel sessions and seminars to see during the three days from Thursday 6th November to Saturday 8th November.

    The list of keynote speakers is outstanding link By davidosh
  • info by forwardloop
    Thu, 09 Oct 2014 22:37:00 GMT

    link

    pg 63 By forwardloop
  • NO - we are not there yet! by woodcroft53
    Wed, 17 Sep 2014 03:14:00 GMT

    This continues to disappoint and frustrate. Going to be an extremely long haul IMO By woodcroft53
  • Re: ARE WE THERE YET by neilio
    Thu, 11 Sep 2014 09:30:00 GMT

    End of year should see overall profit. Get a vessel build contract and this will take off. By neilio
  • ARE WE THERE YET by PERPETUAL OPTIMIST
    Thu, 11 Sep 2014 08:37:00 GMT

    No; bottom line group profit remains elusive. Hopefully the second six months is not going to attract more reorganisation/startup costs. No doubt re SEA having an attractive product base. By PERPETUAL OPTIMIST
  • Re: Scottish Independence by PERPETUAL OPTIMIST
    Mon, 08 Sep 2014 19:20:00 GMT

    The company is the company; the business model remains the same. The growth potential remains the same. By PERPETUAL OPTIMIST
  • Scottish Independence by lordbletherington-smythe
    Mon, 08 Sep 2014 13:21:00 GMT

    How does a Yes vote affect SeaEnergy?

    In my mind, it makes no difference to R2S, Consulting sees a surge in business, and Marine has delays for tenders for a few months upto a couple of years. By lordbletherington-smythe
  • R2S Forensic by mayfair21
    Thu, 26 Mar 2015 09:24:37 GMT

    R2s a system with the ability to diversify.

    link

  • Results soon! by mayfair21
    Wed, 25 Mar 2015 15:15:24 GMT

    Only three weeks to go for the Company to release its results for the year ended 31 December 2014 on 16 April 2015, namely: · Full year results set to be in line with expectations · International growth across the business‎ continues · Significant turnover increase in 2014 for Marine business · R2S Visual Asset Management achieves record turnover in 2014 with strong order book for 2015
  • RE: Mayfair21 by mayfair21
    Fri, 20 Mar 2015 12:36:31 GMT

    it's a safe stock to be in, but patience like any good growth share will be required. It has had a checkered history starting of in oil in the 90's and then renewable energy which they sold in 2011, so the New service-focused strategy adopted in 2012 make it a young company if that makes sense. They are moving into profit because of the change in direction primarly due to : 2014 R2S Earn-out target exceeded 2013 SeaEnergy Ship Management business launched 2012 R2S acquired Consulting business started New service-focused strategy adopted The year-end accounts will show that SEA is in a good financial position meeting expectations with record turnover. If there is a blot on the landscape it is their legacy asset of 18% interest in Lansdowne Oil & Gas plc which will create an impairment charge. There is plus point in that terms for the farm out of Lansdowne Oil's project has been agreed and when complete will provide approx 5 million to Sea. Not sure how the market will take the impairment charge at year end, although SEA have put this news in the public domain so would expect it to be already factored in. As I stated as an illiquid stock the price can and will fluctuate on small volume, but long term prospects are healthy and so the Share price should continue it northward journey albeit on a head and shoulder basis.
  • Mayfair21 by Tailender
    Fri, 20 Mar 2015 11:33:25 GMT

    Just seen post of March 13th. Many thanks, I have just put the revolver back in the drawer. Love this company but driven crazy by the fall in the share price just when they seem to be getting some sales momentum going. Your analysis seems reasonable to me, lets hope you're right.
  • disregard illiquid assets by mayfair21
    Fri, 13 Mar 2015 13:33:14 GMT

    SEA down 9% down on very, very low volume only 17k sold and 6K buys. So why the movement? I guess many will say that because SEA is neglected, ignored and much unloved it is relatively illiquid. To me Illiquidity seems to be a modern, and in my opinion irrational fear born out of electronic markets, and instant decisions. I would counter by saying from my experience the less liquid a stock is, the better it will perform in the long run, compared with more liquid stocks. The trick is to be patient., but I think patience in the market has been lost with the electronicization of markets. If I had to guess, I would say most will continue to disregard illiquid assets. It is because of this some incredible bargains exist in illiquid assets. For example My example above isn't fabricated out of nowhere, companies like this exist. For example, SEA at a share price of 28p values the business at £16m, of which £5m is represented by the legacy stake in Lansdowne Oil & Gas. So that leaves us £11m for R2S, assuming the Consulting and Marine divisions are worth zero (being the unproven divisions). R2S produced EBITDA of £2.8m during the 12 months to February 2014. Subtract approx £251,000 depreciation and amortisation cost, and then tax at the standard 20% rate, I get earnings of £2m. On that basis, R2S on its own seems to be valued at 5.5 times earnings (i.e. £11m divided by £2m). That is a bargain in my opinion. I believe every small investor should have at least 30% of their portfolio in illiquid stock, mine is 50%. One parting thought, for most investors, who aren't wealthy hedge fund managers, their house is their largest asset. For the most part houses aren't liquid assets, but most investors aren't panicking that they can't sell their house at the click of a mouse. Maybe we should approach our investments as we do our house, realize they have value, but that we don't need to sell it instantly.
  • Lansdown Oil by GedW
    Wed, 11 Mar 2015 08:24:02 GMT

    The announcement of a placing made earlier today by Lansdowne Oil & Gas plc ("Lansdowne") and confirms that SEA did not participate in the placing. As a result its shareholding in Lansdowne remains unchanged at 30,194,193 shares although its percentage holding will be diluted to 18.72% once the placing shares are issued on 12 March 2015.
  • SCOTTISH EXPORT AWARDS by mayfair21
    Thu, 05 Mar 2015 13:26:46 GMT

    SEAENERGY PLC ANNOUNCED AS FINALIST IN THE 2015 SCOTTISH EXPORT AWARDS. Although not a fan of awards, I suppose it does give the company additional exposure. Now all they have to do is win it - COYS
  • Nothing untoward by mayfair21
    Mon, 02 Mar 2015 13:11:23 GMT

    Nothing untoward in Change of Nominated Adviser and Broker. Just Oriel Securities Limited ("Oriel") their nominated adviser has been transferred following acquisition of Oriel by Stifel Financial Corp. That said, Stifel Financial Corp is a mega big broker:

    link

    with Seaenergy coming under the wing of Stifel Nicolaus Europe Limited:

    link

    This change should also provide exposure and access to the US markets and hopefully 'Stifle' will provide a little more coverage on Seaenergy than seen to date.
  • Houston we have a problem! by mayfair21
    Fri, 27 Feb 2015 11:22:38 GMT

    SeaEnergy will be landing with their lethal weapon of choice 'the R2S' at the SPE Digital Energy Conference, Houston, 3-5 March 2015. Programme attached:

    link

  • Lloyd’s of London - Presentation by mayfair21
    Thu, 26 Feb 2015 22:48:12 GMT

    For info - presentation at Lloyds of London onVisual Asset Management Technology for the Oil & Gas Industry; Its Application in Insurance

    link

    Interesting to see within the presentation, the map indicating the expansion for R2S within the next 12 months.
  • Stock value by mayfair21
    Wed, 25 Feb 2015 12:40:41 GMT

    The current 28p share price values the business at £16m, of which £5m is represented by the legacy stake in Lansdowne Oil & Gas. So that leaves us £11m for R2S, assuming the Consulting and Marine divisions are worth zero (being the unproven divisions). R2S produced EBITDA of £2.8m during the 12 months to February 2014. Subtract approx £251,000 depreciation and amortisation cost, and then tax at the standard 20% rate, I get earnings of £2m. On that basis, R2S on its own seems to be valued at 5.5 times earnings (i.e. £11m divided by £2m). Given the Strong outlook for the start of 2015, this looks an underappreciated and undervalued stock, and is still at a bargin price.
  • April 14th by Wishfulthinker
    Wed, 25 Feb 2015 10:59:29 GMT

    Thanks Mayfair; you are a mine of info; obviously you really research the company; I am now an Investors Chronicle convert and what Simon Thompson says goes. ! I shall scrape up some money to but some more before the updates. Whoever makes small tough cameras must be minting it too; they are in use everywhere , mainly for security but also for maintenance.
  • Church Roof you say! by mayfair21
    Wed, 25 Feb 2015 10:50:30 GMT

    Church Roof you say! Well SeaEnergy are into this from an aerial perspective. They have recently signed a joint marketing agreement with Cyberhawk, the leading remote aerial inspection and surveying company. They are providing Cyberhawk's aerially-captured images within the R2S VAM Models. Would not surprise me to see SEA upping the stake on Cyberhawk

    link

    as to me it appears a complimentary fit. Still one thing at a time - SEA profit announcement first - roll on April 14 (year end results)
  • R2S;Crime scene by Wishfulthinker
    Wed, 25 Feb 2015 10:34:55 GMT

    So all sorts of applications....we could do with something similar on our church roof; just had all the lead lifted. Very interesting possibilities; hope the prices are competitive. Thanks Mayfair. I have just bought some more SEA today from the scraps remaining after COMS had a board room melt down.
  • Wishful - R2S Forensic by mayfair21
    Wed, 25 Feb 2015 10:13:36 GMT

    Of course SEA's R2S is still in the forensic sector and will be presenting the R2S Forensic V3 and User Group Launch, in Glasgow, 26-27 March 2015. A little about the set up on the attached link:

    link