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Share Name | Share Symbol | Market | Stock Type |
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Seaenergy | SEA | London | Ordinary Share |
Open Price | Low Price | High Price | Close Price | Previous Close |
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2.375 | 2.375 |
Top Posts |
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Posted at 28/9/2018 22:25 by officerdigby 7p dividend.... So that company could go bust quicker what kind of useless management is that seriously!Just seen JAW is NED in LOGP. |
Posted at 29/6/2017 16:09 by julcester Will SEA ex-shareholders if Remp's arbitration hearing with the Montenegrin Government is successful? I see the case is now in deliberation stage and SEA and Remp signed an agreement up to £25m... |
Posted at 24/3/2017 12:37 by philmiboots 24 March 2017Lansdowne Oil & Gas plc ("Lansdowne" or "the Company") has today been notified by KPMG LLP, the appointed administrators to SeaEnergy PLC that they have disposed of SeaEnergy's entire holding of 30,194,193 shares, representing 5.92% of the outstanding shares in the Company, through a number of on market transactions. So SEA liquidators have sold circa £300k worth of LOGP shares. Might just cover their fee I suppose. |
Posted at 10/6/2016 07:56 by htrocka2 As some of you know I had been in this share for some years, and to be honest, while S.Remp was in charge, it was a good company. However, I pumped a final wedge in at 28p and about a year later sold at 21p. Most made losses with SEA yet the biggest loser was REMP himself. The reason I hung on was because he sent share holders a letter asking us not to sell out at 57p in a take over by Marathon. Remp was Ramco's largest shareholder, who had earlier bought shares at £6.00 a time....and Ramco was tipped by the Telegraph as a 'nap' of the year at the then price of £4.00. It's hard to believe that I bought in at £11 once...and made £1 profit per share, that was after Remp had pumped in the $100m from the Azerbaijan pipe line profit.. The downfall came as SEA moved into renewables...as Remp said, renewables require deep pockets, which in turn means farm-in deals or debt. The collapse of the wind farm deal, the marine vessel venture all increased cash burn...then the move to R2S that never came up to the projected expectations....then we had the oil price slump. Nothing went the right way. The only good thing that came out of SEA was that I learnt some lessons...namely, ignore company promises, watch the debt levels and the cash burn rate....and with two missed targets it's time to consider your options. |
Posted at 13/4/2016 13:24 by papillon EPIC code: SEASeaEnergy – grim read across from appeal judgement vs Lansdowne/Providence By Nigel Somerville, the Deputy Sheriff of AIM | Wednesday 13 April 2016 Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article. Oh dear, things have just got a whole lot worse for AIM-listed SeaEnergy (SEA) as fellow AIM company Lansdowne Oil and Gas (LOGP) – in which SeaEnergy has an 18.67% interest - has just announced that its shares are suspended pending financial clarification. Lansdowne, along with its Barryroe project majority partner, AIM-listed Providence Resources (PVR), were in the Court of Appeal today where they have just lost out on a judgement regarding an aspect of a breach of contract case. The result is that an estimated $7 million plus interest and costs will have to be found. Lansdowne has a 20% interest in the Barryroe project, and has already indicated that it will have to raise funds to meet its portion of the bill, as well as additional working capital. But critically, its shares are now suspended pending clarification of its financial position. That sounds to me as though a heavily discounted funding round will be sought in order to bail the company out – or it could be that another AIM company is off to the corporate undertakers. Given that Lansdowne’s market capitalisation was just £3.44 million at suspension, according to ADVFN, it rather sounds as though an equity-raise will be a big ask. And so to SeaEnergy which was recently bailed out with loans totalling £1 million secured on its assets and repayable at the end of April next year. But with an interest bill of 10% per annum, rising to 18% in the event of a default (the conditions of which are not disclosed). Oh, and the company has already indicated that the cash will run out in May. But worse was to come only last month as the company announced that the loans have proved to be insufficient and the company’s cash position is becoming constrained. Thus a restructuring is under consideration, involving asset disposals. For that I read stripping down to a (not much) cash shell. SeaEnergy is clearly in considerable trouble – notwithstanding its series of award nominations and associated slap-up dinners for the directors – and now it is under threat of a further £642,000 hole in its balance sheet, should Lansdowne fail to raise the cash it needs. Oh how the beleaguered shareholders must rue the fact that Seaenergy is still holding all those Lansdowne shares – a non-core asset which could have been sold for £12 million upwards not so long ago. The last balance sheet of SeaEnergy was in the interims to June 2015, which showed net assets sitting at £12.7 million. Of those, £11 million was goodwill and intangibles and £1.8 million was Investments (one assumes the Lansdowne shares which could be worth norralot even if a heavily discounted bailout placing can be arranged). Things, as we know, have deteriorated sharply since then. In other words I think the fat lady is drawing breath for the final warble in this sorry saga. Those awards dinners may put on the pounds in the boardroom, but they don’t bring in the pounds for the company. SELL – 0p target is a when, not an if. - See more at: |
Posted at 09/4/2016 15:36 by cephalosaurus Paps and all, please remember to look at the date of the RNSs. That RNS was a month ago, 10th March, and that is why there is no such RNS from Seaenergy about LOGP on the 8th April.The sentiment to LOGP and PVR is up and down based upon when people think a deal may happen for Barryroe. As this RNS was brought to mind, it is worth remembering that the loan note was not extended for very long (September), which is a good thing if you think that something will make it easier for LOGP to pick up some reasonable finance in the not too distant future. At the moment PCI and companies that are overexposed to assets they cannot hope to manage, are being hung out to dry like the rest. Companies like LOGP just need one deal, not deals all over the world. Just a bit of Irish nervyness goong on, and nothing to concern us I suspect. When I saw Pap's post on the 8th April, I got worried, but maybe he was on the whiskey a bit early due to it being friday already. (just kidding Paps). The point is, it made me think that Seaenergy was on the rise due to someone buying their stake in LOGP. Now that would be madness by Sea - to sell LOGP at this price level, when at some point soon we may see a deal done with LOGP. I simply cannot see the logic in selling their LOGP shares in the current circumstances. Why give them away when value will out one day. -possibly within a year! The duration of the loan note extention can be interpreted in a variety of ways, but I think it is positive that they did't extend it for too long. As for Seaenergy and the buys, and the price rising, perhaps look to r2s. One could speculate that the 'unknown' rise might be due to a deal related to that. All speculation as usual, but I suspect that if there is an upsike in oil prices early in the second half, LOGP won't be around for very long, nor will perhaps Seaenergy either. |
Posted at 08/4/2016 12:45 by papillon SeaEnergy PLC Statement re: Lansdowne Oil and Gas announcement10/03/2016 7:03am UK Regulatory (RNS & others) Seaenergy (LSE:SEA) Historical Stock Chart 1 Month : From Mar 2016 to Apr 2016 Click Here for more Seaenergy Charts. TIDMSEA RNS Number : 6177R SeaEnergy PLC 10 March 2016 SEAENERGY PLC ("SeaEnergy") Statement re: Lansdowne Oil and Gas announcement SeaEnergy PLC (AIM: SEA) notes today's announcement by Lansdowne Oil and Gas plc, a company in which SeaEnergy holds an 18.67% interest, concerning the extension of the term of its senior secured loan note by six months to 9 September 2016. >>>>> Strangely enough, advfn, don't show this RNS from LOGP. It has done wonders for the SEA share price today, but has had a negative effect on the LOGP share price Can't see the positive effect on the SEA share price lasting though. The only hope for both the SEA & LOGP sp's, IMO, is a takeover offer for LOGP as judging by the falling PVR share price hopes for a Barryroe farm out seem as distant as ever. |
Posted at 23/2/2016 14:25 by papillon For the SEA share price to rise significantly in 2016 it will depend on it's stake in LOGP.SEA must be desperate for PVR/LOGP to farm out Barryroe in 2016 on reasonably good terms and with an appraisal well being drilled asap (the third party alliance includes a drill rig operator so presumably there will be a suitable rig readily available). If the LOGP share price could rise to 10p on good farm out news that will push the value of SEA's stake to circa £3m (assuming that SEA's %age stake in LOGP doesn't go lower on a fund raising by LOGP in the meantime). That's 50% higher than SEA's current Mkt Cap. However, IMO, LOGP is a far better punt on a Barryroe farm out being concluded sooner, rather than later, than SEA. |
Posted at 10/12/2015 08:43 by skirbell I'm viewing this post as more of a cathartic experience rather than to bring anything new or valued to the discussion.I've now completely exited from SEA. It's a shame as I believe that the R2S technology offers potential however to fully realise that potential, the company needs to invest in this technology. To do that, SEA needs the capital available and the management foresight to see where this technology can be taken. Capital will be hard to come by over the next 12 months given the huge head wind that SEA's main clients face with the oil price. Oil companies themselves are struggling with cash flows and these problems are getting passed on into the supplier market. To preserve cash flows, many companies are cutting capital expenditure and that currently includes projects that could potentially reduce future cost. This sounds counter productive, but is a sign of the times in the oil industry. SEA's current balance sheet is also cause to believe that they will not be able to fund investment from reserves. As has been pointed out, they may be lucky to survive the next 12 months without some form of placing. Broadly I have agreed with SEA's business ventures however the implementation of those plans by the management have been poorly thought out. Exiting the oil legacy assets was sensible to focus on renewable but still, to this day, the company has legacy assets. These distract attention and have been valued ever lower. The management should have sold out when they took the decision and used the cash to invest properly into the renewable business. LOGP only had a slim chance of success even with oil prices much higher than they are today. Now it has no chance. I also supported the 'walk to work' business. Having been involved in offshore wind, I saw the value of this proposal. However, they hoped to win work without any tangible experience of marine activity and this was a major failing. SEA should have used the money raised from the sale of the legacy assets to purchase at least a small marine business offering services to offshore installations. This would have proven invaluable in the tendering process. It would also have provided a far better link into the Marine business that they did set up... The value of R2S lies not just in the initial capture, but also in potential value adding service post capture. I see no ideas or investments in this space. This may be limited for forensics however the opportunity within O&G is large and would create a regular revenue stream. SEA need to rapidly develop this but we return to my original point - where is the investment? SEA are allowing R2S to stand still and in today's technology driven world, they will lose their competitive advantage quickly. I hope that this does not happen and that SEA can turn things around however based upon the current scenario, I struggle to see how they can move forward with developing value adding revenue and innovating the product. |
Posted at 07/10/2015 09:16 by reesyheli SeaEnergy PLC SeaEnergy PLC Announced as Award FinalistDate : 07/10/2015 @ 07:24 Source : RNS Non-Regulatory Stock : Seaenergy (SEA) Quote : 4.375 0.0 (0.00%) @ 07:52 HOME » LSE » LSE » Seaenergy share price SeaEnergy PLC SeaEnergy PLC Announced as Award Finalist Alert TIDMSEA SeaEnergy PLC 07 October 2015 07 October 2015 SEAENERGY PLC SEAENERGY PLC ANNOUNCED AS FINALIST IN THE OIL & GAS UK AWARDS SeaEnergy PLC are pleased to welcome the appointment of Mr Percy Thrower to the board of directors in anticipation of their next award John Aldersey-Williams, CEO commented that: "We are delighted to have Mr Thrower onboard as he's the only one who'll be doing anything useful around here. His addition is a further fabulous recognition of our remarkable team. |
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