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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Ramco Energy | ROS | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 49.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 49.50 |
| Top Posts |
|---|
Posted at 25/12/2010 22:19 by bones698 a philosophical look back at 2010 where sea is concernedwe started the year on a high with the round 3 announcments when we hit 80p, we all thought that was the start of a meteoric rise and the past was consigned to history, prospect of an asset worth hundreds of millions in 2-3 years and even mpc still in the mix. what happened next well i believe remp expected more than one ste from r3, that was hinted at when they said they had bid on several sites, the fact we got one resulted in a little dissapointement ,and although a major success that was in itself resulted in a drop back to around the 50-60p mark, i hope to find out if that was the case in due course when i talk to the team after the sale. anyway next we had a period of no news and some manipulation from cantors and lanstead it seemed and the share price started to drift. we then started to look at funding these projects to consent stage which required 40m as stated in the brokers note.at that point given the market conditions and possible remps past in raising money some concerns started to be highlighted , as it turns out they were correct. this alone wasnt particularly bad news when they announced the serl sale but in that the announced mpc were looking at 6 rigs but if that failed they would call it a day, one of the worst worded rns's i have ever read tbh but thats my view. the share price got trashed from 30p+ to 18p not exactly what anyone wanted or expected considering the start to the year we had. newsflow was slow and when it came poor . from there we all know the story we have bumbled along and even the signing of the costco deal and ampleman did little to create enthusiasm in sea. lanstead continued to dump as seen in the rns. all talk then turned to the sale of serl and what it would fetch, the simple problem remained even with some excellent research and some other sales that no one knows what it will fetch, the city also would find this impossible to value until the rns and so we have bobbled along awaiting that news. even talk of monty,logp have failed to spark the share price back to life and until we get the sale it is there we have remained. 15m, 20, 40m, 100m who knows but whatever we get i think it will be hard to get to a figure that anyone could class 2010 as anything but another disappointing year for sea holders and management team. our two biggest prospects look to have been lost, mpc looks unlikely but still ongoing and sea what would have been worth a fortune in 2-3 years sold i suspect cheaply in comparison. that leaves us possibly with x amount of cash but not much on the immeadiate horizon in terms of prospects. sea marine seems to have been the one positive prospect but given the costs involved and our problems with financing then we will have to see. after all that two things still require resolving , mpc and price for serl.sea will fetch what it fetches nothing more can be done on that front. mpc has gone too quiet for my liking hence i think dead but maybe they await serl money to progress this also, who knows. once serl is sold then all attention will again be on what the company has planned going forward, logp , mpc, monty, marine none of which look close to bringing in any cash or excitement in the near term and with a share and history like ros/seas one thing we do need is good positive action and newsflow to finally get out of this rut.focus again for many seems to be on revenue generation and prospects. wether you agree or disagree on any point the fact remains the share price is near all time lows so 2010 looks to have been a disaster but with the hope that 2011 could get off to a similar start as 2010 was with the serl sale.lots of if's and but's back in the mix again, we need clarity,action and prospects and confirmation on just what we have (monty). i look forward to seeing the figure for serl whenever it comes and reading an rns outlining our future, wether i like it or not remains to be seen and i think that is common for many pi's, some will not even read the future prospects bit but call it a day after the sale no matter what is said, ran out of patience, disappointments,slow news,changes of direction, loss of faith in the management etc etc others will stick with it a while longer looking at the future prospects and potential, either way 2011 looks to be another year of change. good riddance 2010 and will 2011 actually be a better year? well i dont think it could be much worse than the last so here's hoping, will serl sale be a dream start again? |
Posted at 23/11/2010 08:14 by skirbell Interesting thoughts on LOGP however I don't buy it. Firstly I've never rated LOGP's assets and always though ROS/SEA would have done far better selling all their shares rather than retaining a stake. I expect that the reason SEA have kept 800k losses has little to do with taking the shares and taking over the company. I expect it has more to do with LOGP can't afford to pay and to avoid SEA having to write off the 800k, they can keep it on their balance sheet. We may well find that once someone ponies up the cash for SERL, the 800k will get written off as they can then disappear into the balance sheet.I think that there are a number of flaws in your calculations that would reduce the profit and push up costs and these are, 1. While there is infrastructure in the area of 7 heads, I think it is more gas related. So it won't just be as simple as hooking the well up to the existing platform and away you go. 2. As you state, the oil is waxy and poor quality and not going to sell for spot oil price (usually quoted as WTI). It will sell for less than this 3. You've assumed 365 day production at full capacity. This never happens due to servicing, weather etc etc. I think 7h oil is marginal as it stands. If it were any different, LOGP would have a partner by now, with Star Energy (buyers of Marathon's Irish interests) being the most likely candidate. The fact that there isn't to me underlines the poor quality of these assets. I believe the proceeds from SERL will go to investing in Sea Marine and I can see cash being spent very quickly here. I wouldn't be surprised to see some investment in onshore facilities to assist in servicing turbines. |
Posted at 21/11/2010 01:43 by djmoggy I piled in at 2.5p in late 2008 bones and have been adding ever since. UEN is the new ROS lol! |
Posted at 16/11/2010 08:34 by lombiff Good morning bones and skirbell - I still have this thread on my watch list, and you're right, it used to be one of the best on ADVFN.I can only echo your feelings about SEA, having been in since the drop to 30p in 2004, having topped up at prices from 18p to 70p, and having refused to sell out on a few spikes (55p, 78p 80p) because of the potential for £1+. I'm in too deep here really but I did add another 50K recently on the hope that the sale of SERL will bring in around 40p, compared with the 80p-120p I had expected based on our projected share of Taiwan and our various offshore projects. I say hope because we've been disappointed in the past - think of how far short the SOCAR settlement was than compared with some of the hype! Marine services should be OK and should at least be revenue-generating, but it's not very exciting and certainly not why I invested here in the first place (but then again, nor was renewable energy). After my top up, 40p is my break-even. I plan to wait for the SERL sale and see how much we get and what comes of that - will it be a special dividend or used for working capital? - I think I know the answer already, but my decision to stay or exit will be based on what's left after that. All the best to all the oldies |
Posted at 17/9/2009 12:03 by pilgrim74 Calling me names to make your point mag...who is the idiot here?You clearly see remp and ROS as one in the same. I do not, now that the oil and gas is being sold off i am simply thinking ahead of you. The seaenergy management team is the future of ROS. Company stated FACT. There will be no more ROS, only SEA. Deal with and get over your love affair with remp, he is not beyond criticism. |
Posted at 17/9/2009 11:54 by pilgrim74 mag, i feel strongly that remp deserves a slapdown for the comment. Everone else here seems to think he walks on water... why??? I can't call him out without being told to sell ROS?? Remp is not ROS.... why should i sell ROS because i have criticism of remp??? |
Posted at 08/9/2009 08:06 by brinks_matt There are 2 points that are sitting awkwardly in my mind at the moment:1)ROS seem to be lending credence to the fact that banks will pile into offshore wind in a big way. The RNS implies that 70% of the capital for construction will come from banks. Now, in my mind, this lending is going to have to be massive. I think it is already accepted that the longer term costs for these builds are astronomic. Ramco breeze over this issue and I wonder whether these banks are the same 'green institutions' that won't back the company because of the oil & gas. Banks in my mind don't seem to have 'green' credentials. Either way, ROS make it sound like the cash is going to come easily. In my mind, securing 70% funding from banks for construction is going to be a very difficult task, and the risk profile for this venture, in my opinion, has just increased significantly, based on the information that we currently know. The only way around this would be to sell the acreage after the EIA phase (i.e. pre-build), which would defeat Ramco's objectives as implied in the RNS. "When ready to construct, the projects are expected to secure bank lending for approximately 70 per cent. of the capital expenditure required to construct the wind farms. At that point the Board expects to have a number of options available to fund the 30 per cent. of the equity required to allow " 2) After all the time, experience, links and connections etc. Remp has with oil, why the change of heart? The Herald article above states on the last line 'Remp will remain chairman of MPC'. The RNS has alluded to a board shake up, and, somewhere in the back of my mind, I am worried that Remp may have plans to stay on with MPC, takling the Iraqi oil venture head on and discarding his ties with SEA. I invested in ROS, partially on the back of Remp's experience. Maybe I am speculating, trying to make sense of all the possible problems, pitfalls, hurdles. However, like many others here I feel that the RNS has left more questions than answers. Hopefully future news flow will be both rapid and positive. |
Posted at 07/9/2009 12:57 by brinks_matt Take a hypertheotical situation:If MPC have done the well deals and there are legs in MPC regarding future drilling avenues in Iraq, how can any future benefit be passed to existing ROS shareholders when MPC is floated? Is it standard for a company (i.e. ROS) to give options to existing shareholders to buy into the new company (i.e. MPC) at reduced shareprices, and based on their current holding (i.e ROS). I ask, because I am interested in BOTH the Iraq future potential, AND offshore wind. I think both have very large potential, but in two different timescales. Iraq=short term, Offshore=long term. |
Posted at 07/9/2009 11:10 by hairyback2 ok,lads.MPC/IDC talks continue. this is what AG said and i heard the same. iraq will announce decision. this is what AG said and i heard the same. 'additional opportunities for MPC.' this is what AG said and i heard the same. the original delay was caused by ongoing discussions related to the revised drilling tender opportunities. this is what AG said and i heard the same. ROS stated that they would rns any definite closure on the JV some time ago. whilst this rns is not specific in this regard,it cannot be specific due to ongoing related dialogue between MPC/IDC - can it ? the rns talks about a smooth exit stategy from oil/gas to concentrate on SERL. this will not happen until after the iraq announcement,which i still believe to be favourable. ROS will still benefit from the increased value in MPC. it has been the case for some time that the 'original' JV was struggling,but equally there have been several good posts speculating that a quasi JV (wrong term as it turns out) is still on the cards re MPC/IDC. taking the above together i would say that an announcement from iraq is imminent,ROS know it is coming,know the potential value and have already cashflowed it into the revised funding plans for SERL. the dilution (or the extent of it) is new but all of this adds up to prudent cash management by ROS for a strategy they have obviously carefully considered with SERL. i cannot comment on LOGP,monte or the Arbitration due to lack of knowledge,but cyber/jules can. HB |
Posted at 03/9/2009 09:13 by bones698 percentage release to get £30 million5% ros remaining stake = 31% 10% ros remaining stake = 29% 15% ros remaining stake = 27% 20% ros remaining stake = 25% 25% ros remaining stake = 23% 50% ros remaining stake = 16% ros remaining stake is released percentage divided by the 3 members, ros,midmar, and lc capital , and subtracted from our current 32.67% ie 32.67 - ((10%/3)= 3.33%)) = 29.34% from this we can then work out what ramco's remaining percentage is valued at 5%= 30 mill 31%/5% = 6.2*30 mill= £186million 10%= 30 mill 29%/10% = 2.9 * 30 mill = £87 million 15% = 30 mill 27%/15% = 1.8 * 30 mill = £54 mill 20% = 30 mill 25%/20% = 1.25 * 30 mill = £37.5 mill 25% = 30 mill 23%/25% = 0.92 * 30 mill = £27.5 mill 50% = 30 mill 16%/50 =0.32 * 30 mill = £10 mill |
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