In my portfolio I expect some companies to fail, bit overall will make a profit. I am reasonably diversified across sectors, but I will let you know in 5 years if I am successful! |
LOL.
Don't get depressed about it, Stockriser. I've written off my OXS and LOGP investments in the last 6 months. Gambling on AIM shares is only for mugs like us. A few get lucky (or have inside info), but most lose money I'm afraid. Best to wise up and stick to premium bonds and the National lottery (you don't lose so much money!). You have been guilty of wishful thinking in regard to PVR, LOGP & SEA. Again something I've also been guilty of. |
Perhaps you will have to change your moniker Stockriser (80( |
Oh dear - another write off -think I'll start selling cars ..lol |
The wise investors, Jack, sold all their oil related shares after the OPEC meeting of November 2014 and stayed away from the sector. They would have sold & walked away from PVR, LOGP, SEA, PCI, AFR, CAZA, etc, etc. |
how much do they owe |
Thanks Papillon. Your wiseness after the event knows no bounds. |
It's all about being in the right sector at the right time, Jack. With all their eggs in one basket (the oil industry) they were in the wrong sector at the wrong time when the price of oil collapsed.
PS. With reference to your post 32255, Jack, the forensic "market" for R2S was always tiny compared with the oil rig "market". Hence, effectively, SEA had all their eggs in one basket and the collapse in the PoO was always going to sound the death knell for a minnow such as SEA which was so dependent on supplying services to oil companies. |
The lesson I will learn from this is that its all about management.
Top management could have made this into a very valuable company; our shower at the top are not 'top management'. |
Ironic that it happens on the day their technology helped bring justice for the 96. |
Show is definitely over :( One to add to my lessons learned :)
Good luck all! |
 SeaEnergy PLC
("SeaEnergy" or the "Company")
Statement re. Suspension
Further to the announcement on 4 March 2016, the Company confirms that it has sufficient funds to remain trading until the second half of May. Since that announcement, SeaEnergy has been in detailed discussions with a number of potential purchasers for the Return to Scene business ("R2S"), several of which are still ongoing (the "Potential Disposal").
The Potential Disposal would be classified as a fundamental change of business under the AIM Rules for Companies and therefore require the prior approval of shareholders at a specially convened general meeting. The Directors are of the opinion that it is now unlikely that a sale and purchase agreement can be agreed and executed in sufficient time to allow the process of shareholder approval to occur while the Company remains solvent. In addition, the suspension in trading of the shares of Lansdowne Oil & Gas plc, a company in which SeaEnergy holds an 18.67% interest, on 13 April 2016 means that it is unlikely that the Company could currently raise funds through the disposal of its interest. The Directors are therefore taking advice from insolvency practitioners.
As a result, the Company has requested a suspension in trading of the Company's shares pending clarification of the financial position.
Further announcements will be made as appropriate. |
Looks like the show is over from the last RNS. |
Maxmarilli
I will bet you any money u want no oil company will buy this.
I personally have talked with people from companies I would expect to buy this, not oil companies, and they have said no chance therefore I do not expect a high sales price to be achieved. Good luck with your bet. |
Don't get too excited Stockriser!
;o) |
Stupid signal in Portugal arrghhh!!! |
And of course they may only sell the VAM part of the business and keep the forensic side which is making a profit. But of course we may all get a shock and Barryroe may get sold for a hefty sum!! |
And of course they may only sell the VAM part of the business and keep the forensic side which is making a profit. But of course we may all get a shock and Barryroe may get sold for a hefty sum!! |
the Board is in discussions with a number of parties who have expressed an interest in the acquisition of the R2S Visual Asset Management business and/or other assets of the Group. Yes they could pick it up from receivers but since there are more than 1 interested the best offer will get it....And companies like chevron,BP Texaco have a cash force that £5 or £10 mill is peanuts for them....Oil will be much higher by end of this year as well... |
Maxmarilli
the thing you have to ask yourself is who and why would buy R2S at that price.
Who as oil related companies are all conserving cash just now and why would anyone pay £5 million if the company is desperate and close to collapse? Potentially they could wait and buy it of the receiver if they really wanted it.
A buyer may appear but the odds are not in your favour I suggest. |
save cost in new and decommissioning platforms not long in use.I think it will be sold for sure.how much is the only question.IF sold for £5 mill could make share price from 5 to 10p alone.....as always the truth is in the middle.....to me this stock is not worth 2.5p so I`m adding.No advice to buy or sell given |
Thanks for that Pogue, I will take it on board. |
expensive untried cost saving software
Here is the explanation of each word I choose to use.
Its is expensive when you have had your budget slashed.
Untried as the company you are trying to sell to have never used it, oil companies are always wary of new stuff I have been designing equipment for them for 20 years so have a little knowledge there.
Cost saving if you are cutting many helicopter journeys but you aren't as nobody is actually going to the rigs to do surveys right now.
and it's definitely software.
I try to invest with my eyes open I went in with eyes open and have come out in the same manner a lot poorer. I suggest you look at the facts if you are nursing large losses realize the chances of getting the money back is low don't blame the messenger. |
"expensive untried cost saving software"
Not sure how you can state that Pogue, unless you're trying to down the Co.
"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" |
Seaenergy has become a cash shell investment company, sadly. They are indebted, so even if some sort of deal is done on either asset they own, they have to pay down that debt first. Whatever cash is leftover will have to be invested elsewhere, but it is more likely to be returned to shareholders - Cannot see Sea as a going concern due to their lack of direction, and the fact that r2s is up for sale. |
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