Nothing going to happen until the oil price picks up. If Seaenegy survive they will eventually make a load of money but IMHO it's bust and will not last until oil price raises to a level companies start re inflating maintenance budgets. During low oil price all companies cut their maintenance budgets by sacking people and shelving all but essential maintenance so expensive untried cost saving software is not necessary or affordable. Nobody flies out to rigs to do surveys etc unless it's critical and there are very few people employed anyway.
The way to play this is to wait and see if SEA survives till the oil price picks up or more likely buy the company that buys R2S assuming they have decent directors who actually know the oil industry as the current directors clearly have no idea. |
 Come on BP, get your fat wallet out.....
-----------------------------------------
“We needed something that would help us save precious bed space on board our offshore platforms. Non-critical operations staff were an issue. Surveyors, trainees, planners all had to wait their turn but took up valuable space on helicopters and on board that would be better spent with operations and maintenance staff.
So something that would help teams plan more effectively onshore so that they knew exactly what needed to be done, what tools and equipment would be needed and how we were going to do it would make the most sense. We initially looked at 3D laser scanning but that proved too expensive.
R2S came to us from the forensic world and immediately caught our eye as something that would give us the perspective we needed to plan our activities. We could navigate through corridors, measure our way through tight spaces where we would move equipment, observe the condition of pipes and valves that might need replacing and position within the images all of the documentation and permits needed to complete the job.
We saved millions on helicopter journeys alone in the past few years. We have now captured all of our assets in the North Sea and Gulf of Mexico and are now going beyond to Indonesia, Azerbaijan and Angola. The R2S team have been superb at working within and around our teams seamlessly.”
BP |
Just curious...anyone of you buying at the moment?I`m adding when I can... |
Current bid is actually 2.3p ;-) |
270k buy just gone through. Don't tell me bones has had a change of heart? |
This company was gone when Steve Remp was pushed . |
You are probably correct, bones698. |
Muppets buying a few not listening to the warnings. Still it's their money to lose. Can't help some people |
Maybe there is no tomorrow Phil!
Edit: Then again ;-) |
People piling in like there is no tomorrow.....er....oh....hang on.... |
"I think Barryroe will be sold soon..."
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Presumably you are indulging in wishful thinking, maxmarilli, a favourite pastime of many on these bb's and have no inside information on the Barryroe farm out negotiations (assuming there are any). LOL.
You could be right, but many have been saying the same thing for the last 4 years and still no farm out has taken place.. |
I added little more at 2p is worth the risk,imo |
$7 millso =$1.4mill to pay for LOGP.I think Barryroe will be sold soon... |
Court of Appeal judgement results in extra costs for exploration group and share suspension
April 14 2016 | Job Langbroek | Morning briefing | 1 page(s) | Read Important Disclosures
The news that an appeal of an earlier judgement was upheld means Transocean will be paid another $7m (before costs) by the Barryroe consortium (made up of Providence and Landsdowne Oil & Gas). With Providence responsible for 80% of this, the news is unhelpful given the existing efforts to manage financial resources. However, provided the existing debt lines can be extended, the additional costs should be manageable and do not have any impact on the value of the group’s oil and gas projects.
hxxps://www.davy.ie/research/public/morningEquityBriefing.htm |
from lse bb:Stockraiser
Posts: 343
Off Topic
Opinion: Buy
Price: 2.50
£7 million for LOGP ?????Today 07:58Not quite right! That £7 million bill is to be shared with PVR on ownership % i.e.LOGP own 20% so their bill is more like £1.7 million. Of course that's if no deal is done with Transocean i.e. bringing them on board to drill Barryroe.
Watch this space |
Talking of fancy dress and spherical objects, spot the @@@@e@.... |
i wonder if Britain is going down the plug hole. There is nothing right about the way business is conducted it seems generally. The wicker man if you dare to question |
See Seaenergy PLC linkedin:
(there's a pic too)
'SeaEnergy PLC Brightening up a blank wall in the office with images from our own creative and talented team!'
They are literally printing off photos and blu-tacking them to the walls as they have nothing else to do! pathetic. Jaw likely pointing to the wall for photo placement like a film director, earning his £150k+ salary. |
JAW and Bertram still paying themselves over £150k a year on fumes? |
It's gone down so far now it's not worth selling. I may as well hang on to see if they manage to find a buyer for the system and the share price may go up a bit. |
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