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.

SeaEnergy is trading below the moving 50 day average and below the moving 200 day average on below-average volume.
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  • 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
  • Re: Interims by PERPETUAL OPTIMIST
    Fri, 05 Sep 2014 10:19:00 GMT

    Interims will be released 11 September; see latest RNS re update. By PERPETUAL OPTIMIST
  • Interims by neilio
    Fri, 05 Sep 2014 10:11:00 GMT

    overdue. Hopefully waiting for other contract news to release at same time. By neilio
  • Bounce by neilio
    Fri, 29 Aug 2014 13:09:00 GMT

    Nice bounce lately. I hoped this is based on leaked half year figures in line with the previous RNS By neilio
  • Re: BUSINESS GROWTH by lordbletherington-smythe
    Mon, 18 Aug 2014 17:29:00 GMT

    There hasnt been much correlation for a while. LOGP have tumbled 80% or so in the last year, and SEA is pretty much flat in that time frame.

    Should LOGP surge back to 30p+, or have some positive corporate activity, then SEA will rise too, as its widely known that SEA will distribute most of the gains back to shareholders. Their cost is about £5mln, which is about 16p per LOGP share.

    Even if there was a takeover of LOGP at something like 25p, I would still expect SEA to benefit, as they would receive £7.5mln in cash, against their current market cap of about £19mln, which gives little value to their block holding in the illiquid LOGP shares. By lordbletherington-smythe
  • Re: BUSINESS GROWTH by david polson
    Sat, 16 Aug 2014 12:31:00 GMT

    Daft lad question, is there any/much correlation in the share prices of sea energy and landsdowne, or is the availabilty of shares over ride it?
    By david polson
  • Re: BUSINESS GROWTH by SlagChops
    Thu, 14 Aug 2014 09:00:00 GMT

    Yes a record second half as I said, not a record 2nd quarter....


    "After a record first quarter R2S activity returned to more normal levels in the second quarter as some projects were delayed and rescheduled later in the year. With a strong order book for the second half of the year driven by growing demand from the UK North Sea, US and Mexican markets and additional international potential, the trend for R2S to have a strong second half of the year is expected once again, with forecasts for the second half considerably ahead of the first six months of 2014."
    By SlagChops
  • 4x EBITDA appears modest by mayfair21
    Mon, 22 Dec 2014 12:57:14 GMT

    SeaEnergy have demonstrated the progress made in building a business capable of delivering sustainable profits, with revenue +65.7% year-on-year, and at the operating line (before exceptional items) of being in profit in the next quarter with the year end results. SeaEnergy's R2S Visual Asset Management technology achieved record turnover in the third quarter of 2014 and there is a strong order book for the remainder of the year and for the first half of 2015. R2S is the key driver of profitablitly accounting for approx. 80% of revenues. Based on the acquisition price of £10m, the acquisition multiple of 4x EBITDA appears modest for such a high growth business. The company’s equity is being seriously undervalued on the above alone. There is also the legacy oil and gas asset (LOGP) where every 2p share move on LOGP share price equates to 1p on SEA. Following the todays RNS on the ruling in favour of Providence Resources v Transocean of which Lansdowne fully provided for the claim means LOGP can now make positive adjustment to their accounts. It also appear that Providence are shortly to be in a position to update shareholders on the Barryroe farm out process. This is all positive news for LOGP and should see their share price rise which will reflect on Sea-energy's share price. Of course disposal of this oil asset will also help reduce the gap between the market value and their asset-based valuation. A lot can change in a few weeks and I now move my neutral stance to buy. which I have done. Merry Christmas
  • Video presentation - CEO by mayfair21
    Fri, 19 Dec 2014 22:54:41 GMT

    link

  • RE: IC Tip by mayfair21
    Wed, 17 Dec 2014 16:44:43 GMT

    I agree with everything Thompson says, hence why I have invested in this stock. He is completely right that in this depressed market it is a great buying opportunity but will AIM investors see the potential for a great return on their investment prior to full year results next quarter that will show profit. My guess is not! there is to much herd mentality on AIM chasing rainbows rather than investing in clear fundamental that screams 'Profit'.
  • IC Tip by CaptainHindsight
    Wed, 17 Dec 2014 12:15:49 GMT

    Simon Thompson of Investors Chronicle today rates this as a BUY: 'Clearly, investors are worried that with the oil price under pressure then this will impact on demand for SeaEnergy’s services. However, this completely misses the point because if anything the need to keep costs down intensifies when the oil price is low and R2S offers a cost advantage to operators whereby they can monitor rig activity without making expensive offshore visits. Moreover, when SeaEnergy released its trading update early last month the company reported R2S had a strong order book for the rest of the year, and for the first half of 2015 too. The oil price had already fallen 29 per cent from its June high at that point, so if major oil operators were going to start deferring investment decisions then that process would have already begun. SeaEnergy may be unloved, but there is no getting away from the fact the company’s equity is being seriously undervalued. And with upbeat full-year results expected to be released in the first quarter next year, I view the current depressed valuation as a buying opportunity.'
  • RE: mayfair by mayfair21
    Wed, 17 Dec 2014 09:49:52 GMT

    Company on track to achive profit for year end. Recurring revenue should close gap between current share price and sum of part evaluation of approx 45p. However SEA do attribute value to the legacy asset of Lansdowne Oil and for this reason it is hard to give this share a strong buy rating while LOGP slumbers. To this end LOPG need to rise to approx 12p for this share to be a value for money share. Do hold a small investment in this share but only recommend a neutral stance at present. One to watch maybe.
  • mayfair by jollyspeculator
    Tue, 16 Dec 2014 12:11:50 GMT

    an credible forecasts on core business here?
  • RE: LOGP down a lot by mayfair21
    Fri, 05 Dec 2014 15:06:38 GMT

    I note. SEA only hold as a legacy asset as they pulled out of oil investment a while back. So it is a bit extra on the side, the bonus if you like, albeit a small one at present. Still only paper loss at moment.
  • LOGP down a lot by jollyspeculator
    Fri, 05 Dec 2014 10:08:36 GMT

    ..
  • 2015 by CincinattiKid
    Sun, 23 Nov 2014 19:14:07 GMT

    Should bring a good return next year.
  • Asset value return by mayfair21
    Wed, 19 Nov 2014 13:41:14 GMT

    Lansdowne Oil & Gas plc share price rises of which SEA has a legacy asset of some 5.4 million and have stated they plan to return a proportion of that realised value to shareholders and share price goes down. Hard to fathom share price movement sometimes.
  • Say's it all! by mayfair21
    Thu, 06 Nov 2014 14:55:55 GMT

    As we head towards the end of the year, we are delighted that the company is on track to achieve a profit before tax in the current financial year. With international growth under way, and by partnering with and serving some of the largest companies in the world we look to the future with confidence," said SeaEnergy Chairman David Sigsworth (full stop)
  • RNS by pablo2
    Thu, 06 Nov 2014 07:38:35 GMT

    High tide expected. Looking good.
  • almost there by bopd
    Wed, 29 Oct 2014 11:28:45 GMT

    The time is nigh
  • Legacy Asset value return by mayfair21
    Mon, 06 Oct 2014 14:14:31 GMT

    Nice little rise in Lansdowne Oil & Gas plc of which SEA has a legacy asset of some 5.4 million. As stated in their interim results "It remains our plan to realise the value of our legacy oil & gas assets over time and to return a proportion of that realised value to shareholders. "
  • Interims published by GedW
    Thu, 11 Sep 2014 06:10:57 GMT

    six months ended 30 June, 2014. Highlights: Operational · Continuing growth in all parts of the business · Increasing international activity · Significant contract wins in Mexico, USA and UK for R2S · Permanent Houston office established · Expectation of stronger second half · Ship Management JV signed and three vessels under management · Consulting offering boosted by Max & Co and R2S Forensic after reorganisation Financial · Strong revenue growth across all businesses · Turnover up to £3.6m (H1 2013: £2.2m) · Loss from continuing operations after tax reduced to £0.2m for the first six months of 2014 (H1 2013: loss of £0.6m) · Loss per share (basic and diluted) 0.43 pence (H1 2013: loss per share 1.10 pence) · Group cash balance at 30 June 2014 of £0.7m after earn-out payment of £4.3m (30 June 2013: £5.4m) · Group overdraft facility of £0.5m secured