"Wonder what to read into the "..with the exception of Lampe" bit"
Ah Bonesy
I remember the good old days when you used to do irony |
Ron lol understandable holding this share and others will make anyway struggle mentally . I think it's pretty safe to say this will never recover now although I have been saying it for some time this just looks desperate and praying for a miracle that isn't coming .
Ron 10% dilution matters little but the debt on the books will really hurt them if they have to raise equity in the near future . My concern is it would be hugely dilutive and at a lower price .
At least we had some laughs along the way but it's a sorry end to a share once the biggest on aim . |
Reesy - I think it probably means that as he's the guy providing the dosh, he can't vote on whether it's a good deal or not.
No-one seems to have noticed the 10% increase in shares in issue this deal (if it works and results in the share price rising above 10p) will entail.
edit: sorry bones - old age seems to have had a remarkable impact on my typing speed. |
"in light of the currently anticipated upturn in R2S business and other work in 2016..."
What other work do they have? |
Indeed Reesy....
"The Directors of SeaEnergy (excluding Steven Lampe) consider, having consulted with WH Ireland Limited, the Company's nominated adviser, that the terms of the Agreement with LC Capital Master Fund, Ltd and the terms of grant of the Warrants to LC Capital Master Fund, Ltd are fair and reasonable insofar as the Company's shareholders are concerned."
So he doesn't agree, unlike all the other "Directors", that the terms are "fair and reasonable".
When has anything been fair and reasonable for the shareholders, ever?
What a POS. |
SeaEnergy PLC, the innovation-led offshore energy services business......
Anyone seen the third RNS?
SeaEnergy Expects "Significant Loss" For 2015 On Low Oil Price Hit
Alliance news a paid for subscription to ADVFN
Maybe our beloved board should diversify into paid for news services?
At least they might earn a few bob
---------------------
Wonder what to read into the "..with the exception of Lampe" bit
Bit late if he's finally come to his senses |
Only one trade this morning after this terrible RNS which shows most punters are beaten down by this. The company is looking for any port in a storm in order to linger on. Beyond terrible. I should have sold this when it dropped 50% from my purchase price instead of waiting for a voyage to recovery which is never coming. |
Largeronald - divi? Can you remind me what sort of beast is that!! |
Not good news for SEA/R2S |
bones, the Operating Loss for the first 6 months of this year was £881k and SEA lost £439k of cash in just 6 months. Not huge amounts for a bigger company, but huge for a company that only has a current Mkt Cap of just £2.54m, IMO.
Apart from that I agree with your analysis of SEA's current predicament. |
Pap the amount of cash lost wasn't huge 440k in 6 months wasn't bad considering the massive wages and number of bosses eTC but what is concerning is r2s is declining and not growing and the market place shrinking meaning no growth and very little chance of making a profit for the foreseeable . Not much in the way of assets either anymore of any value and so a very real risk they will red cash to plug the holes . Can't really sell anything , oil prices set to stay low won't help r2s and a bloated management teams raining the cash and profits . A very typical story on aim these days with the real worry that there isn't that surprise factor of say hitting oil or getting a coup which at least there was in the Remp days . Granted they didn't quite work out but at least the chance was there for big news . Not here im afraid anymore |
I agree, bones698. IMO this is a share to avoid until it's funding is sorted. It's last a/c's show it's loss making at an operational level and haemorrhaging cash (it's bank overdraft was rising at an alarming rate from 31/12/14 to 30/6/15). |
The issue here is that in all likelyhood dilution will come sooner or later given the inability to make a profit and market conditions staying bad for some time . In that case any form or risk of dilution at these levels or lower would be hugely damaging to anyone holding and greatly reduce the chance of ever seeing a profit . The risks atm are too high until funding is sorted and get actually show they are willing to slash costs drastically . |
"Aye I was wrong on that POO breakout, but then again when I look at the bog roll"
LOL. Good one, Stockriser. |
This is not going bust and I have lots and lots of time - touch wood! |
Aye I was wrong on that POO breakout, but then again when I look at the bog roll....lol |
My post should have read ....... "I reckon that a Barryroe farm out is SEA's only short term salvation. Can PVR pull off a successful farm out of Barryroe? If they can then the LOGP share price could rise significantly giving a boost to the SEA share price and even a possible chance to offload their LOGP share stake. Clutching at straws, I accept, but miracles can happen." |
I haven't seen a WTI chart from you recently, Stockriser. Do you only post one when the PoO is rising? No offence intended. I just think you set too much store by your PoO charts. You were looking for a breakout recently. |
Pap - Your thoughts are my hope ......lol
"If they can then the LOGP share price could rise significantly giving a boost to the SEA share price and even a possible chance to offload their LOGP share stake. Clutching at straws, I accept, but miracles can happen." |
WTI US$41.16. Brent Crude US$44.06. So the oil price isn't doing any favours for SEA's R2S customers.
In H1 2015 SEA was operating at a loss and racking up a significant bank overdraft. A fund raising surely must be on the cards.
I reckon that a Barryroe farm out is SEA's only short term salvation. Can PVR pull off a successful farm out of Barryroe? If they can then the LOGP share price could rise significantly giving a boost to the SEA share price and even a possible chance to offload their LOGP share stake. Clutching at straws, I accept, but miracles can happen. |
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