Seascape Energy Asia Share Discussion Threads

[papillon] 14/4/2016 16:07

"I think Barryroe will be sold soon..."

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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..

[maxmarilli] 14/4/2016 14:39

I added little more at 2p is worth the risk,imo

[maxmarilli] 14/4/2016 14:18

$7 millso =$1.4mill to pay for LOGP.I think Barryroe will be sold soon...

[maxmarilli] 14/4/2016 14:17

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

[maxmarilli] 14/4/2016 14:07

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

[philmiboots] 13/4/2016 23:40

Talking of fancy dress and spherical objects, spot the @@@@e@....

[cephalosaurus] 13/4/2016 23:35

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

[pete_edwards] 13/4/2016 22:44

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.

[pete_edwards] 13/4/2016 22:41

JAW and Bertram still paying themselves over £150k a year on fumes?

[vatnabrekk] 13/4/2016 22:38

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.

[bones698] 13/4/2016 20:06

Max reading your dribble I don't take you at all seriously and have shown you know nothing. Fyi I have met several of the logp board members, known the entire history of this company from its birth and did short it some time ago making a good profit. Be careful who you choose to argue with you just look foolish otherwise. Logp I doubt will survive this and sea will follow. Its a sad end to remps legacy destroyed by incompetent self serving managers. By all means keep wasting your money if you can't see the writing on the wall you deserve to learn the hard way.

[maxmarilli] 13/4/2016 16:33

Bones short it,then!

[bones698] 13/4/2016 16:25

One down sea to follow. R2s won't bring in anything like 5m now more like 2-3m in a fire sale which this is. Sea has mounting debts of which logp has increased yet further. I suspect an end here soon clarifying seas financial problems and admin soon after. Writing has been on the wall and now the fat lady is singing in full voice. Game over

[papillon] 13/4/2016 16:15

I only posted what Shareprophets wrote, maxmarilli. I have no opinion on SEA. I don't hold it. I recently spent a miserly £375 buying 15k of LOGP. My only holding in LOGP. I've written that £375 off after todays news.

PS. AFR and PCI sp's rose strongly after the initial bad news. Yet they still crashed in the end. Dead cat bounces mean sweet FA, unfortunately. PI's often get things badly wrong.

[cephalosaurus] 13/4/2016 16:05

I wouldn't even begin to bet on a value for r2s. You should start at £1million because there is nothing unique about the technology they use, it is about the people that run r2s and whether they can be sold, and whether they have any exclusivity with clients etc. How much that is worth is a good guess at best, but £1 would at least pay of some of the debts, while they wait for a miracle with LOGP and a deal at Barryroe.

Sorry to set your expectations lower, but it's better to do that with this company, in case there is a surprise to the upside. Set your expectations too high with this management and you will DEFINATELY get disappointed.

[maxmarilli] 13/4/2016 15:58

Cephalosaurus,thks.Can we agree a valuation of £5 mill for R2S to be sold?If so 8 to 10p can be the value of sp?

[cephalosaurus] 13/4/2016 15:52

Shareprophets are in the business of finding dogs on AIM. They predict 0p for all stocks they see as worthless, and have it in for corrupt fraudulent fat cat or incompetent mgt. They are not in the business of pity, they are just being frank, with a touch of melodrama and exaggeration. They could get it right sometimes, so on the face of it they could be right here too. It depends on the outcome of PVR/LOGP refinancing as to what the LOGP shares are worth for SEA. Then the final value of SEA as a cash shell will be determined by the sale price of r2s.

SEA will only be a zero if they cannot find a buyer for r2s, and LOGP cannot refinance. Who knows. I would not like to predict anymore.

As it is, they will end up a small cash shell - whether or not LOGP fail, or r2S sell for x or y - because they are selling ALL their assets anyway!

I am sure they will get a buyer for r2s but I suspect it will be hard to do more than break even. They are somewhat lucky they don't have to pay what they expected to pay for r2s, because I would guess they didn't meet projected targets.

As for LOGP, they only refinanced the loan a month ago. They ought to have had an idea the appeal could go either way. If not, it beggars belief. In this case, if they cannot throw a lifeline to PVR and LOGP, the loan company would have to write off a bad debt. That would be suicidal for the lender in the case where a Barryroe deal is contingent on getting all dirty laundry or unknowns out of the way.

[maxmarilli] 13/4/2016 15:43

Another tick up...it seems mms are looking to get shares....could reverse and go blue if traders arrive...

[maxmarilli] 13/4/2016 15:28

What is the problem with shareprophets and SEA?Are they shorting it ?Looks like,because a 0 pence target is telling that....Papillon,what do you think of all this?thks,max

[maxmarilli] 13/4/2016 14:32

The situation of sea is grim but that`s why the share price is 2.5p approx. to buy and not 10p.....IF R2S is sold I expect a multibag,otherwise problems end of april.Not long to go and it could go crazy with any news,up or down drastically.It`s a punt but could be a good one,imo.