barontaylor
24 Jun 2015
LOGP rise LOGP might go up a bit more yet and give share price a lift maybe sea will get to off load it soon.
SlagChops
08 Jun 2015
Open Letter to JAW The following is from stewy_18 on ADVFN. If you agree then please support this.____All,Below is an open letter I have written to JAW expressing my concerns about the way SeaEnergy is being run. If you agree with the content, I would really appreciate if you could send me an endorsement mail also noting your holding in number of shares to [email protected] . Depending on whether I get a satisfactory response from JAW or not I may have to set up a conference call to impose upon him the seriousness of the situation we find ourselves. If I do not get any endorsements however....Please be kind enough to have a read. I will ask David Stredder and Chris Boxall if they can retweet and I will be asking David the best way to continue here.Open letter to John Aldersey-Williams CEO of SeaEnergy 08th June 2015John,Having presided over massive shareholder value destruction over the past 2 years, I am becoming very concerned you are not taking this grave situation we, as shareholders of SeaEnergy, find ourselves at this moment in time, seriously.I’m afraid the feedback received from the AGM was less than satisfactory. I would like clarification on certain points to ensure we, as shareholders, and the board of SeaEnergy are aligned going through this difficult time.One cannot help the low price of oil environment we find ourselves in. This is unfortunate, but the low price of oil means you have to react accordingly. To start with, you have to lower your central costs.Saying you are going to lower your central costs is one thing. You have been saying you are aware central costs are too high for at least two years now. There was no clear plan given at the AGM on how you are going to do this. You need to provide an action plan and make this visible to shareholders so we can monitor your success. It is clear to all shareholders that you have a layer of management that is not necessary and needs slimming down drastically. You need to spell out how you are going to reduce costs and how much you are going to reduce them by. This is the most crucial point and I expect a bit more detail in the coming weeks on what exactly you are going to do to reduce these costs.Can you also assure shareholders there will be no placing this year?The asset sale of SeaEnergy’s stake in Lansdowne Oil and Gas is another important topic. We have seen the value of this asset diminish from £18 million at the height of its value to circa £1 million presently. The wisdom of not selling that asset in full or in part remains a very dubious decision. Can you provide assurances that you will do what’s best for SEA energy shareholders, not what is best for you (as a Lansdowne Oil and Gas shareholder) or Lansdowne Oil and Gas where you are a non-executive director?Could you also advise us how you are exiting the ship management business? Have you put this part of the business up for sale? If so what do you expect sell it for?I was also concerned to hear in the AGM you are meeting with a nuclear authority next week. You have mentioned the uses for R2S in nuclear for as long as I have been invested, yet there has been no headway in this area. I am not surprised to be honest. There is not the cost saving there is on oil rigs, neither the cost savings on flights nor the bed space issues. Can you please explain why you continue to pursue this avenue?Finally John, I find it rather antagonizing that you post an RNS that announcing SeaEnergy as a finalist for an award the day after you issue such a poor trading statement. I, as a shareholder, am far more interested in revenue generating/cost saving RNS’s and see very little value in mentioning this kind of news when we face such a critical time for SeaEnergy.I would really appreciate a candid response to this letter. If I do not receive the assurances I need I will face no other choice but to sell my holding for a large loss. SeaEnergy is at serious risk of becomin
forwardloop
07 Jun 2015
info IC update 3 JuneAim-traded shares of SeaEnergy (SEA: 15.5p) have had a rollercoaster ride since I recommended buying at 29p ('Making waves', 20 February 2014), hitting a high of 44p at one stage, but they have been a victim of the falling oil price since the autumn.For the past six months the share price performance appeared to be completely at odds with the operational progress SeaEnergy has been making. The company reported a record year for its highly profitable R2S's core service division in 2014, buoyed by demand from the energy sector for its Visual Asset Management technology that enables oil rig operators to keep a visual record of all key parts of an oil rig, monitor its condition and changes to the fabric, with a view to carrying out maintenance.But the oil price slump has caught up with the company as it warned yesterday of project deferrals due to oil companies implementing budget freezes. As a result management guidance is that R2S's revenues this year will be marginally below that achieved in 2014, prompting analyst Ken Rumph at brokerage Stifel to cut his fiscal 2015 revenue estimate for R2S by 30 per cent to £3.7m, or 11 per cent below the £4.1m of turnover the business unit generated in 2014. On this basis, R2S is now expected to report operating profit of £1.85m, down by almost £1m from Mr Rumph’s previous estimate, and well down on the £2.1m profit the unit earned in 2014. Add to this small contributions from both SeaEnergy's marina and consulting divisions, and factor in central overheads of around £2m, and the company only looks like breaking even in 2015, rather than delivering the six-fold rise in pre-tax profit to £1m that Stifel had predicted when I updated the investment case when the shares were 21p ('Profiting from M&A', 13 April 2015).This means that although there is value in the shares, as I have made the case for in the past, the risk to earnings now looks to the downside. Moreover, the fall in the share price of Aim-traded North Celtic Sea-focused oil and gas explorer Lansdowne Oil & Gas (LOGP: 5p), a company in which SeaEnergy owns a 18 per cent legacy stake, worth £1.5m, means that SeaEnergy will have to book a non-cash asset impairment charge on this holding of almost £1.5m given that Lansdowne's share price has virtually halved since the start of the year. This is hardly good news for sentiment either.Binary optionLansdowne's latest share price weakness reflects the delays in closing a farm-out deal on the Barryroe licence in the North Celtic Sea Basin which has 346m barrels of oil equivalent of recoverable 2C resources. Aim-traded Providence Resources (PVR: 23p) is the operator of the licence with an 80 per cent interest in the field and has been negotiating on behalf of Lansdowne which has a 20 per cent interest in Barryroe. A farm-out partner has been found, but the closing conditions have yet to be satisfied and disconcertingly Providence is now seeking to clarify the status of those conditions and the proposed farm-in partner's position. Lansdowne has also instigated a strategic review of its own businesses.It's a binary bet as a successful farm-out would enable SeaEnergy to exit this legacy holding, but if the deal falls apart then expect Lansdowne's share price to fall further and SeaEnergy to be forced to write-down its investment even further. Having assessed comments from all the parties involved, I am no longer confident that a farm-out can be agreed.That's not to say there isn't value in SeaEnergy's shares as ascribing a valuation of 10 times current year operating profit estimates to R2S as a standalone entity implies a valuation for that business alone around double SeaEnergy’s depressed market value of £9m. As I have made the point before, the company’s North Sea and Bulgarian royalty interests have some value, too - Mr Rumph at Stifel believes these are worth about £1.8m, a sum equivalent to 3p per SeaEnergy share or a fifth of the company’s c
avb123
05 Jun 2015
Delightfully stupid Proper funny buddy, you went all the way back to 2011 to find a post to show how I got SEA wrong. Did it make you feel better? Yes! Make you feel big? Yes! Make up for having a small ****, nope mate, that's as big as it will get 
delightful
04 Jun 2015
Re: Email Contact with Sea Ramco going south. 0p soon.
PERPETUAL OPTIMIST
03 Jun 2015
TAKEOVER LOOMING ? If obviously well thought of on the awards circuit, then SEA must have something worthwhile to offer the industry.If it is merely a case of postponed work, the innovation attraction persists and is worth something in the industry. How much though?
indaknow
03 Jun 2015
How to waste £30m After the sale of serl seaenergy was supposed to focus on servicing the wind farms in the north Sea and other areas. 4 years later and the directors have flipped from one failed strategy to another.Today the sp sits at 50% less than it did when they sold off serl for a derisory sum. Basically the directors have wasted shareholders money and added zero value to the business.I thank God that I sold out after they messed up the serl deal. I genuinely wouldn't let these incompetent manage my shopping list!
Patrick K Murphy
02 Jun 2015
Shoot the proof reader? SeaEnergy (LON:SEA) was the sector's biggest riser after it said although current conditions are challenging it expects to achieve operating performance before any non-recurring items broadly comparable with 2014.RISER????? That should read faller. Having said that, I do feel that the drop in price is overdone (as often happens) which is why I doubled my (small) stake,
avb123
02 Jun 2015
update don't know what to say.......
SlagChops
27 Mar 2015
Re: target 60p Usual story on AIM, a spike after good news then a gradual retrace. Still underwater on this one by quite some margin unfortunately.
woodcroft53
26 Mar 2015
Re: target 60p That 60p target seems light years away as per usual - this share continues to be a big disappointment and I can't see me ever making my initial investment back - nevertheless I will continue to wait it out while the company directors continue to take their fat salaries while delivering nothing the shareholders.
southernstar
23 Feb 2015
target 60p Found the Investors Chronicle article from last September...very encouraging. !
SlagChops
23 Feb 2015
RNS - BP Atlantis contract accelerated SeaEnergy PLC (SeaEnergy or the Company)BP Atlantis contract accelerated for SeaEnergy subsidiary Return To SceneReturn To Scene Limited, a wholly owned subsidiary of SeaEnergy PLC, is pleased to announce that BP has brought forward its deployment of the R2S Visual Asset Management (VAM) spherical photographic capture of its Atlantis facility in the Gulf of Mexico (GOM). The R2S photographic team is already on site in the US with project completion, expected during Q2 2015.The contract, which has a stand-alone value of US $450,000, falls under a Global Agreement between Return To Scene and BP which has been in place since 2013. BP has used the R2S software/services on nine assets to date, including its three other offshore facilities in the Gulf of Mexico; Mad Dog, Thunder Horse and Na Kika.John Aldersey-Williams, CEO of SeaEnergy PLC, commented that:"R2S helps BP to bring the onshore and offshore teams of its assets together, allowing remote collaboration, increasing efficiencies and reducing the need to travel to the asset.The Atlantis project is very exciting for us as we continue to expand our presence in North America, driven by our team in Houston. As part of our wider internationalisation efforts and in line with our Global Agreement with BP, we look forward to supporting BP in its diverse geographic activities."
forwardloop
18 Feb 2015
info [link] (LON:SEA) believes it is primed for growth as its niche software service offers easy cost savings to an increasingly frugal oil and gas sector.Contractors to oil companies have naturally been among the worst hit by collapsing crude prices, as the large nuts-and-bolts engineering groups such as Petrofac or Wood Group were among the first to be squeezed.But, a newly cash conscious sector is ripe for SeaEnergy’s niche Return-to-Scene (R2S) business, according to chief executive John Aldersey-Williams.R2S provides computer modelling to create a 360 degree interactive visual interface that oil rig and gas facility operators can use for virtual maintenance and planning.Crucially, it can also provide oil companies with significant savings in the planning of decommissioning fields that are no longer economic or that are to be suspended.“What we know, and what our customers know, is the R2S software saves costs,” he said in a recent interview with Proactive Investors.He says the value proposition is clear: installing the product saves money, it saves time, and it removes the need for unnecessary travel to and from facilities.The installation of R2S pays for itself several times over in the very first year, Aldersey-Williams added.“In a world where oil prices are low R2S is a very good way of accelerating value out of a project.“Our clients know that it is a cost saver, it adds value to their businesses and even in a world where they are having to think about decommissioning platforms - it is a fantastic tool for planning that process and keeping cost out of the process.”SeaEnergy earlier this month told investors it will meet the market’s expectations when it releases its results for 2014 on April 16, and the outlook for the start of 2015 was said to be strong.R2S is very much a transferrable ‘solution’ – indeed, it was first developed to model crime scenes – though the upstream oil and gas sector is currently the core focus.Aldersey-Williams sees it as a market with huge potential.The software has so far been used to ‘capture’ about one hundred facilities across some 50 contracted projects and it has been contracted in some capacity by four of the world’s five ‘super-majors’.Nevertheless, this represents just a tiny portion of the potential market, according to research commissioned by SeaEnergy, which indicated there were around 10,000 platforms around the world that could be modelled by R2S.“There is a world of opportunity out there for us,” Aldersey-Williams said.SeaEnergy also has a consulting division which complements and adds to the effectiveness of the R2S software/service, and legacy assets including an interest in Irish oil firm Lansdowne Oil & Gas.
SlagChops
14 Jan 2015
RNS CANADA CONTRACT WIN FOR RETURN TO SCENEReturn To Scene Limited, a wholly owned subsidiary of SeaEnergy PLC together with its Canadian distributor NSB Energy Inc., is delighted to announce the award of its first contract for the R2S photographic capture in Canada. The contract value is estimated at US$ 800,000.Return To Scene's innovative R2S visual asset management system provides high definition 360° spherical photography - photographically capturing offshore oil and gas assets and providing the user with a desk top visual, interactive walk around. The R2S photographic team is already on site in Canada.To date the R2S system has been used by 16 operators in the UK Continental Shelf, US Gulf of Mexico (GOM) and Mexico including BP, Chevron, Total, ConocoPhillips and PEMEX, on a diverse range of projects. Operators have identified improved resource efficiencies and R2S has also been credited with enhancing collaboration between multiple disciplines providing better planning, confidence and preparedness - benefits leading to tangible cost reductions and increased production. Bob Donnelly, Director of Business Development for SeaEnergy PLC commented that:"We are delighted to secure our first project in Canada as we continue to grow our presence in North America, supported by our team in Houston, and as part of the Group's wider internationalisation process."He continued: "We have a strong order book for 2015 and our look ahead for the first half of 2015 is particularly robust with a significant contribution from North America."Michael Critch, President and CEO of NSB Energy Inc., Canadian based distributor for R2S in Canada since 2012, commented that:"As an agent for oil and gas personnel and services, NSB Energy is excited to attract and leverage some of the best internationally recognised technologies for use offshore in Canada. This contract award demonstrates the importance of using the best technology the world has to offer to manage offshore facilities and optimise the recovery of Canada's offshore oil and gas resources. We are proud to facilitate and manage this great service provided by Return To Scene."
