SeaEnergy - The Offshore Wind Development Company
The only listed pure play offshore wind energy company in the UK


SeaEnergy PLC (formerly Ramco Energy plc), a Scottish public limited company, and its subsidiaries and associates form an energy group, headquartered in Aberdeen, Scotland.

In September 2009 the Board announced the intention to focus the Group entirely on renewable energy, specifically offshore wind. This decision was ratified by shareholders at a General Meeting to change the name of the Company to SeaEnergy PLC. The Group's legacy oil & gas assets will be disposed of over time in an orderly manner designed to maximise value for SeaEnergy PLC shareholders.

The renewable energy operating subsidiary SeaEnergy Renewables Limited has secured two offshore wind farm sites in the Scottish Round and is bidding for further sites in the UK Round 3. The Scottish sites are Beatrice (circa 920MWs), in joint venture with SSE subsidiary Airtricity and Inch Cape (circa 905MWs), in joint venture with RWE subsidiary npower. In each case, SeaEnergy has a 25% interest.

UK round three bids have been made in joint venture with EDP Renewables of Portugal.

The Greater Gabbard development recently achieved transaction valuation multiples when interests in that project were sold at the consented stage and immediately prior to construction , both during 2008. Those transactions achieved prices of approximately 157,000 and 567,000 per MW, respectively and provide a recent precedent which Ramco shareholders should be aware of. If these values are applied to the 456 MW's which SeaEnergy has secured in the Scottish Round, this would imply values of approximately 72 million and 259 million, respectively for the business, should those projects develop to the consenting and construction phases.

Legacy Oil & Gas Interests

The Companys portfolio of oil and gas interests are either minority stakes or non-operated assets and it is the Boards intention to dispose of these interests in an orderly manner over time. The Board does not expect that any further significant funds will be committed to the oil and gas assets unless required, in the opinion of the Directors, to preserve their value, and therefore shareholder value, ahead of any realisation.


Mesopotamia Petroleum Company (MPC)

The Company holds a 32.67 per cent stake in an associated company, MPC, of which Stephen Remp is currently Chairman. In February 2009 MPC signed a JV agreement with IDC, the Iraqi state-owned drilling company, to create IOSCO. We announced on 8 July that IDC had ended the IOSCO JV as MPC had failed to meet a funding deadline. The MPC Board remains as committed as ever to building a presence in Iraq and since that date has been pursuing the re-instatement of the JV. The Board of MPC believe that the market opportunity for delivering shareholder value in Iraq, through the establishment of an oil service JV that is focused on drilling high productivity wells and increasing Iraqs oil production, remains highly attractive.

IDCs decision to end the JV obviously had a negative impact on MPCs fundraising process but considerable efforts are continuing to be made by MPC, which is advised by JP Morgan Cazenove, to secure the funding, conditional on the re-instatement of the JV. Discussions with potential investors and IDC are on-going.

In addition, a number of new and promising opportunities have been brought to MPC and are currently being evaluated. Reaching a satisfactory conclusion may take longer than we might hope but the Board believes it will be time well spent. Further updates will be issued as and when developments materialise.

Lansdowne Oil & Gas plc

The Company currently holds a 36.26 per cent interest in Lansdowne which is itself AIM listed. In 2007 The Company granted an option over its interest in Lansdowne to LC Capital Master Fund (LC), and any disposal of our current holding will have to be arranged in conjunction with LC and as a result no decision has been made by the Board that this interest is for sale, at present.

SOCAR arbitration

The Company is pursuing a claim against SOCAR relating to rights connected to the shallow water Gunashli Field in Azerbaijan. An arbitration hearing has been scheduled for October 2009 in Stockholm and the outcome is expected to be known before the year end.

Eagle HC Limited

Eagle is owned 100 per cent by The Company and has royalty interests in nine North Sea blocks. Whilst none of the blocks are currently producing, two have had hydrocarbon discoveries drilled on them.

Other Oil & Gas interests

The Company holds a small royalty interest onshore Bulgaria, over acreage shortly due to commence production, and an interest in acreage offshore Montenegro, which is currently the subject of a dispute with the Montenegrin authorities. It is expected that as the Bulgarian acreage moves into production and the royalty starts to generate cash flow that there will be buyers for the royalty. It is unlikely that we will find a buyer for our interests in Montenegro unless and until the dispute is successfully resolved.

Current market cap of 30million.
SOCAR compensation rumoured to be in the region of 50million.
MPC contract rumoured to be announced shortly.
Round 3 offshore windfarm contracts to be announced soon.

No advice intended but I do hold. DYOR

Bit of an unknown (we are hoping for a large cash win, but not definite until we get an RNS).. but below is a summary of what we do know regarding the SOCAR case:

From Annual report:

1. Agreement in place
"In 1994 Pennzoil and Ramco however negotiated a means of recovering costs expended on the gas compression project, including the right to participate in any major project on the shallow water section of Guneshli ('SWG') in priority to any other foreign company."

2. Penzoil drop out but ROS maintain right
"Pennzoil later negotiated a separate agreement with the State Oil Company of the Azerbaijan Republic ('SOCAR') under which Pennzoil relinquished its rights under the earlier agreement while preserving Ramco's right."

3. ROS partner with CONOCO then Total to develop
Between 1997 and 1999 Ramco pursued a collaboration with Conoco which was negotiating with SOCAR to undertake a development of SWG. Ramco's rights under the 1994 agreement were recognised in this collaboration.

News article at time:

"04-06-99 Natik Aliyev, president of the State Oil Company of Azerbaijan (SOCAR), said that negotiations on a $ 1.2 billion project to develop the shallow-water portions of the Guneshli offshore field were continuing.
However, he said, no deal has yet been signed. Azerbaijani officials had said earlier that a contract might be signed with Conoco of the United States and Ramco of Great Britain during the first week of June, before the end of the International Caspian Oil and Gas Exhibition."
...
"
Shallow-water Guneshli, currently Azerbaijan's main source of oil, has been under development since 1980 and has yielded 60 million metric tons of oil so far. It may contain 80-115 million metric tons more of recoverable oil. It is currently yielding about 180,000 barrels of oil per day, with 110,000 bpd of the total coming from older sections of the field. Output has been falling since 1992 due to decreasing well pressure.
SOCAR has offered to let Conoco lead the effort to develop the newer sections of the field but wants to remain as operator of the older sections. Azerbaijani media reported last year that Conoco had drawn up a preliminary production-sharing contract for the field allocating itself a 41.2% share in the field. The remaining equity would be split 8.8% to Ramco and 50% to SOCAR.
In 1999 when Conoco withdrew from negotiations, a similar collaboration followed with Total which expired in 2001.

4. ROS exerts re-iterates its right to field and announces has to go to arb
Since 2001 Ramco has continued to assert its interest in the development of SWG and has annually reminded SOCAR of its rights under the 1994 agreement. This area is once again on Ramco's agenda following the announcement by SOCAR in 2007 of initiatives to develop SWG involving foreign companies, which is one of the trigger conditions for our rights under the 1994 agreement. The other is a minimum capital amount which SOCAR's plan meets. The Company wrote to SOCAR formally asserting Ramco's rights and, in the absence of an appropriate response, warned SOCAR that we would have no alternative but to resort to arbitration under the 1994 agreement.

SOCAR has failed to provide any substantive response and on 13 June 2008 Ramco filed with the Stockholm Chamber of Commerce a request for arbitration under the UNCITRAL arbitration rules. All costs in connection with the SWG project and legal fees incurred to 31 December 2007 have been expensed at that date.

5. From S.B recently - clearing stating that SOCAR accepted ROS right to field and that arb is over SWG rather than GUP.
" The arbitration case relates to our right of first refusal over SWG, which are not disupted by SOCAR.We were not given the chance to use our rights before a major project was awarded. The numbers associated with the underlying GUP project which led to us being granted the right of first refusal have little relevance to the case. "

3 Key parts to the business:

1. Wind - Experts in off-shore wind.

A summary of their wind business can be found below:

Company presentation: http://www.seaenergy-plc.com/presentations.html

Note: the company has partnered with some of the largest wind turbine manufacturers in the world. SEA has @ 600MW of wind capacity on its books (a nuclear power plant is 1GW).

The company has bid with EDPR for 2 wind sites in the enormous Round 3 licensing round. Further success in R3 would add significant value to the companys underlying assets.

From iii article today:

"Aside from the UK, there are other interests. A heads of agreement has been signed in Taiwan and Sea Energy is spending a lot of time looking at China, which has a fully committed government."

The below broker reports provide a good over of the company as a whole and also their wind business:

http://cyberpost-seaenergy.angelfire.com/BrokerNotes/Ambrian/2009.10.27_AMBRIAN_27th_Oct_2009.doc
(Ambrian Brokers)

http://cyberpost-seaenergy.angelfire.com/BrokerNotes/Edison/2009.10.27_EDISON_27th_Oct_2009.pdf
(Edison Brokers)


2. Legacy O&G Assets

MPC: Seaenergy have a 32% interest in a company called MPC who are trying to win drilling contracts in Iraq.

Note: Rumours that several people have heard are that the company is very close to securing work as an independent operator. Discussions are still ongoing and we will be notified shortly.

Below is taken from the website:

The Company holds a 32.67 per cent stake in an associated company, MPC, of which Stephen Remp is currently Chairman. In February 2009 MPC signed a JV agreement with IDC, the Iraqi state-owned drilling company, to create IOSCO. We announced on 8 July that IDC had ended the IOSCO JV as MPC had failed to meet a funding deadline. The MPC Board remains as committed as ever to building a presence in Iraq and since that date has been pursuing the re-instatement of the JV. The Board of MPC believe that the market opportunity for delivering shareholder value in Iraq, through the establishment of an oil service JV that is focused on drilling high productivity wells and increasing Iraqs oil production, remains highly attractive.

IDCs decision to end the JV obviously had a negative impact on MPCs fundraising process but considerable efforts are continuing to be made by MPC, which is advised by JP Morgan Cazenove, to secure the funding, conditional on the re-instatement of the JV. Discussions with potential investors and IDC are on-going.

In addition, a number of new and promising opportunities have been brought to MPC and are currently being evaluated. Reaching a satisfactory conclusion may take longer than we might hope but the Board believes it will be time well spent. Further updates will be issued as and when developments materialise.


3. SOCAR

The company has spent significant money in terms of legal/arbitration fees against the state oil company of Azerbaijan. Outcome from this is due before the end of the year and could arrive anyday. Significant multiples of the Share price could be realised.

Below is taken from the recent III article:

A second potential stocking filler for shareholders comes in the form of a hangover from the early 1990s operations of Ramco in the Caspian Sea.

Remp has taken the government of Azerbaijan to a Stockholm-based tribunal, so-called SOCAR arbitration, over claims that the Azeri government failed to deliver on certain criteria to allow him to take up his rights. It is also due to announce its findings imminently.

"If we win, and we deserve to, then it will be a massive Christmas present, it will be oil and gas money going straight in to this business and prolongs the period at which we have to go to the market for funding," he said.

He declines to put a figure on how much that might be, but there are very few small numbers in the oil business.


-----------------------------------------------------------------------

Make your own mind up but you get all this for 20mln.

If you try and put a value on our existing assets then this is a good benchmark (taken from seaenergy report):

"The Greater Gabbard development recently achieved transaction valuation multiples when interests in that project were sold at the consented stage and immediately prior to construction , both during 2008. Those transactions achieved prices of approximately 157,000 and 567,000 per MW, respectively and provide a recent precedent which Ramco shareholders should be aware of. If these values are applied to the 456 MW's which SeaEnergy has secured in the Scottish Round, this would imply values of approximately 72 million and 259 million, respectively for the business, should those projects develop to the consenting and construction phases.

todays scotsman hursday, 3rd December 2009 Change Date

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RSS Feed What's this?
One to Watch: Blowing up a storm
Premium Article !


Published Date: 03 December 2009
By Bryan Johnston of Brewin Dolphin

SeaEnergy

37.25p -1.75p

Scotsman says BUY
WHATEVER the outcome of the Copenhagen talks, renewable energy remains a hot topic. Investors with leanings towards such projects, tempered with an acknowledgement of risk, might have a look at SeaEnergy.

SeaEnergy was previously known as Ram
ADVERTISEMENT
co Energy, an oil and gas explorer that had only limited success in either arena. It has reinvented itself as a service provider to the offshore wind industry. UK-based, SeaEnergy has a 25 per cent stake in two of the largest-scale offshore wind projects in Scotland, the majority partners being Scottish & Southern Energy and RWE NPower Renewables. Lately, they have been focusing on the Beatrice demonstrator wind farm, a project that is involved in installing the largest turbines, which are deployed offshore to depths of well over 120ft. The joint venture, in which SeaEnergy is a partner with SSE, has the contract to expand the field into a 920 megawatt wind farm. Elsewhere, its partnership with NPower Renewables involves a 905MW contract, again in the North Sea.

There are funding issues. It is estimated that SeaEnergy will require over 30 million between the middle of next year and 2013 and it is not immediately clear how these funds will be generated. Still, SeaEnergy is participating in the Round 3 awards and is looking to develop wind farms within two different zones off Scotland.

There is still a tail from SeaEnergy's previous life as Ramco, particularly over the termination of a drilling programme in Iraq, which may require further funding.

However, if SeaEnergy can successfully gear its existing and, hopefully, future licence wins, then funding may not be an issue. The shares certainly look interesting.

03/12/2009 12:11:09 38.00 6,506 O 2,472.28
03/12/2009 12:10:23 38.00 12,800 O 4,864.00
03/12/2009 10:28:04 37.50 10,580 O 3,967.50
03/12/2009 10:19:52 37.40 10,000 O 3,740.00
03/12/2009 10:06:48 37.40 2,000 O 748.00

iraqi rumours from socar are an award is imminent and new production /sharing agreement GUP has little to no/impact on this arbitration.

Although we got screwed over in GUP it has little to no bearing on the SWG case.

I agree that SWG was used to compenstate us over GUP, but if we had a legal case for GUP then it would have been made years ago.

What we do have is documents over a period of time from SOCAR affirming our right to first refusal on SWG. That right was ignored and thats why I feel we have a strong case.

Coming to a number is extremely difficult - too many unknowns...all we know is that in 1999:

"Azerbaijani media reported last year that Conoco had drawn up a preliminary production-sharing contract for the field allocating itself a 41.2% share in the field. The remaining equity would be split 8.8% to Ramco and 50% to SOCAR."

Difficult to put a figure on that given development costs etc, but the company has spent a lot of money in legal & arbitration fees - so am hopeful they feel we have a strong case..

Iraq Drilling Co (IDC) is forging ahead with building its own drilling capacity while waiting for the oil ministry to pick one of its many suitors to establish a new joint venture after the first attempt with Mesopotamia Petroleum faltered last month. Two years ago no company would come and work in Iraq so we had to go with Mesopotamia even though it had no track record. Today, many reputable and recognized companies are knocking on our door and we think we will be better off with one of them, Senior Deputy Oil Minister for upstream Abdul Karim al-Luaybi tells me.

If anything, the first bid round in June seems to have unleashed the Iraqi potential. It revealed just how much

http://www.mesopotamiapetroleum.com/

rumours rife of news coming

SeaEnergy PLC

* Legacy O&G Interests
* Lansdowne Oil & Gas
* Mesopotamia Petroleum
* Home

SeaEnergyLegacy Oil & Gas Interests

The Companys portfolio of oil and gas interests are either minority stakes or non-operated assets and it is the Boards intention to dispose of these interests in an orderly manner over time. The Board does not expect that any further significant funds will be committed to the oil and gas assets unless required, in the opinion of the Directors, to preserve their value, and therefore shareholder value, ahead of any realisation.

Mesopotamia Petroleum Company
(a) Mesopotamia Petroleum Company (MPC)

The Company holds a 32.67 per cent stake in an associated company, MPC, of which Stephen Remp is currently Chairman. In February 2009 MPC signed a JV agreement with IDC, the Iraqi state-owned drilling company, to create IOSCO. We announced on 8 July that IDC had ended the IOSCO JV as MPC had failed to meet a funding deadline. The MPC Board remains as committed as ever to building a presence in Iraq and since that date has been pursuing the re-instatement of the JV. The Board of MPC believe that the market opportunity for delivering shareholder value in Iraq, through the establishment of an oil service JV that is focused on drilling high productivity wells and increasing Iraqs oil production, remains highly attractive.

IDCs decision to end the JV obviously had a negative impact on MPCs fundraising process but considerable efforts are continuing to be made by MPC, which is advised by JP Morgan Cazenove, to secure the funding, conditional on the re-instatement of the JV. Discussions with potential investors and IDC are on-going.

In addition, a number of new and promising opportunities have been brought to MPC and are currently being evaluated. Reaching a satisfactory conclusion may take longer than we might hope but the Board believes it will be time well spent. Further updates will be issued as and when developments materialise.

Lansdowne Oil & Gas
(b) Lansdowne Oil & Gas plc

The Company currently holds a 36.26 per cent interest in Lansdowne which is itself AIM listed. In 2007 The Company granted an option over its interest in Lansdowne to LC Capital Master Fund (LC), and any disposal of our current holding will have to be arranged in conjunction with LC and as a result no decision has been made by the Board that this interest is for sale, at present.
(c) SOCAR arbitration

The Company is pursuing a claim against SOCAR relating to rights connected to the shallow water Gunashli Field in Azerbaijan. An arbitration hearing has been scheduled for October 2009 in Stockholm and the outcome is expected to be known before the year end.
(d) Eagle HC Limited

Eagle is owned 100 per cent by The Company and has royalty interests in nine North Sea blocks. Whilst none of the blocks are currently producing, two have had hydrocarbon discoveries drilled on them.
(e) Other Oil & Gas interests

The Company holds a small royalty interest onshore Bulgaria, over acreage shortly due to commence production, and an interest in acreage offshore Montenegro, which is currently the subject of a dispute with the Montenegrin authorities. It is expected that as the Bulgarian acreage moves into production and the royalty starts to generate cash flow that there will be buyers for the royalty. It is unlikely that we will find a buyer for our interests in Montenegro unless and until the dispute is successfully resolved

e-mail from ceo today One of the posters on the other site talked to the CEO of MPC and he posted this :


KeepItUp - 3 Dec'09 - 10:54 - 8253 of 8260

Ed - seems i owe you an apology. I have it confirmed the type of contracts MPC are going for do not need parlimentary approval. Seems i was basing the process model on a JV. It is different for what MPC have nearly completed now. So this is how the process stands:

1) "Win" a tender (literally means you are the front runner and thats all)
2) "Winning" tender goes to ministry of oil of preliminary approval
3) Tender goes to house of representatives (not required)
4) Tender goes back to ministry of oil who calls operating company and MPC to thrash out a detailed contract
5) Apply for letter of credit to cover 70 - 80% of the job
6) Mobilisation

Time scales:
1) ~4 months
2) & 4) ~6 weeks
5) 2 months minimum
6) 6 weeks to 9 months

I can infer that MPC are approaching, or at, step 5 or 6. The very good news is they are so very close to an announcement, in fact they are hopeful by year end!

Im guessing they want to issue a statement when the letter of credit has been signed, so this is probably what we are waiting for and fits the end of year time line.

http://www.straitstimes.com/BreakingNews/Money/Story/STIStory_459857.html
Nov 27, 2009
Iraq company in venture talks

BASRA (Iraq) - THE state-run Iraq Drilling Company is talking to several international oil firms about possibly reviving a short-lived joint venture with a Ramco Energy Plc subsidiary, the head of the company said.

The US$400 million (S$555 million) venture with Ramco's Mesopotamia Petroleum Co Ltd to drill 60 new oil wells a year fell through in July after Mesopotamia missed a deadline to confirm funding.

Iraqi Drilling Company Director Idrees al-Yassiri told Reuters in an interview that even though the contract was terminated, the deal had benefitted Iraq because it broke the ice for foreign oil firms thinking about entering Iraq.

'Dozens of companies asked to work in Iraq after we signed this contract and this is a great step forward, even if the deal was not implemented,' Yassiri said.

'We are negotiating with major, established world companies to possibly form a permanent partnership through a joint company or partnerships on specific projects. Negotiations are still underway and we can't name the companies.'

Iraq and Mesopotamia Petroleum set up the joint venture in February, saying it would add 120,000 barrels of oil per day to Iraq's output capacity within a year. -- REUTERS

Steve Remp, Chairman, commented, "While IDC's decision to invoke the strict terms of the JV Agreement is frustrating, it is consistent with the approach we have seen in dealing with governmental bodies in Iraq. We believe we are making good progress in fulfilling the initial investment requirements and together with MPC's advisers (including J.P. Morgan Cazenove) remain in contact with the Iraqi Government regarding progress on funding for this historic JV. The delays to secure funding have been due, principally, to the delays experienced with IDC in agreeing and signing the JV Business Plan. This has now been completed. The respective IDC and MPC teams, who have come together to form the IOSCO Board and Management, are engaged on a daily basis as part of the ongoing JV implementation, including submission of the JV's first 60 well tender.

"MPC has not accepted the validity of this termination and continues to work to fulfill its funding requirements as soon as possible. I continue to believe IOSCO remains the most valuable and strategically important tool available to Iraq's Ministry of Oil to increase oil production and secure additional oil revenue as part of the Government's task of rebuilding the country.

"MPC is determined to play its part in this. Doing business in Iraq was never going to be easy and our success to date is founded on MPC's vision, persistence and dedication. I am bringing this matter to the attention of Iraq's Minister of Oil with a request that he intervene personally to resolve this unfortunate turn of events and allow us to continue with this important project."

http://www.upstreamonline.com/live/article199818.ece

http://209.85.229.132/search?q=cache:DmlnvwgO7JEJ:www.stockgumshoe.com/2009/07/iraqi-oil-the-most-dangerous-1400-youll-ever-see.html+mesopotamia+petroleum+company&cd=70&hl=en&ct=clnk&gl=uk&client=firefox-a

http://www.envirogen-recruit.com/cm/news/33438 Ambrian Capital says buy SeaEnergy PLC, puts 70 percent upside on the stock

Ambrian Capital has issued a note on SeaEnergy PLC (AIM: SEA), a week after the name change from Ramco Energy and the strategic shift from oil services company to pure-play offshore wind energy play came into effect. The broker has a buy' rating on the stock and places an 81 pence valuation on SeaEnergy, based on a sum-of-the-parts of the portfolio of assets it holds.

This represents an upside of near 70 percent compared to the current share price. Sea Energy was trading at 46.75p in early afternoon deals today.

When Ramco announced the re-positioning at the beginning of September, it said the offshore wind opportunity was "truly enormous", with over 130 billion of investment envisaged over the next 11 years through the Scottish and UK Offshore Rounds.

Ramco subsidiary SeaEnergy Renewables Ltd (SERL) has secured a net 456 MegaWatts of offshore wind farm acreage alongside large utility partners. By early September, SERL had secured a 25 percent interest in two joint ventures to develop offshore wind farms with a total capacity of over 1800MW with partners Scottish & Southern Energy PLC (LSE: SSE) unit Airtricity and RWE AG unit npower. Together with EDP Renewables (EDPR) it had also made applications for sites to be awarded through the UK Offshore Round 3 process.

The new entity will draw its strength from the SERL team which conceived, developed and delivered the world's first deep water wind farm which remains the deepest development to date - the Beatrice Project. It involved the installation of the two largest wind turbines, with 5 MW capacity each, ever deployed offshore, at water depths of 45 metres. This, combined with the Ramco team's expertise in delivering deep water offshore developments in the oil and gas industry, puts SeaEnergy in an unrivalled position at the vanguard of the emerging offshore renewables industry, it stated.

Ambrian Capital said in its note that, while bids in the UK Offshore Round 3 are not expected to be announced before the end of 2009, it believes the EDPR/SeaEnergy consortium is ideally placed to be allocated one or more of the nine zones in the programme.

After a 7.5 million placing with UK investment group Lanstead Capital LP which will become a 22 percent shareholder in the new entity, SeaEnergy's model is de-risked in the near term, with funds to meet corporate overheads and development investment until mid-2010, the broker said, adding that the development business model aims to achieve a 10 times return at the pre-construction stage.

"SeaEnergy is an example of a stock with an asymmetric risk profile - minimal capital at risk for a large potential payoff."

3v1 looks like seller has gone time for a move north
http://www.talentscotland.com/jobs.aspx?item_id=73765

Ramco Exits The Oil Industry To Focus On Offshore Wind Under The New Name Of SeaEnergy

By Rue Swabey

The move by Aim-listed, Aberdeen-based oil company, Ramco Energy to change its name to SeaEnergy, divest its oil assets and focus on offshore wind, underscores the potential magnitude of the UK offshore wind opportunity. Ramco started off in 1977 as a contractor servicing pipes, before becoming an exploration company. Its founder and chairman, Steve Remp, whose family have been in oil for four generations, made headlines in the 1990s when Ramco became the first western company to enter the former Soviet republic of Azerbaijan. But there have been lows too. In 2003 there was an unsuccessful move into gas production off Ireland, and recently plans to develop oil services in Iraq fell through when the companys partner, the state-owned Iraqi drilling company, pulled out of a joint venture to tender for drilling contacts.

Mr Remps oil expertise makes his move into renewable energy particularly compelling. His experience in managing complex engineering projects in difficult environments will be invaluable in developing offshore wind. SeaEnergys business development director, Allan MacAskill, who was previously at Talisman Energy, highlights how the infrastructure of a depleted oilfield can be re-used for offshore wind. In fact the cost involved in dismantling the four legged stools which oil platforms stand on when oil fields are de-commissioned makes it highly desirable to develop offshore wind farms on the site of a former oil field.

Ramco established SeaEnergy Renewables (SER) in 2008 and will now acquire the shares that it does not own. The SeaEnergy team participated in the design and construction of the 41 million Beatrice Wind Farm which was set up in 2006 as a demonstration project for the European DOWNVind programme. At the time it was Europes largest renewable energy research and development programme. It successfully deployed two 5MW turbines adjacent to the Beatrice oil field, 25 kilometres from the east cost of Scotland in waters 45 meters deep. SERs involvement in the project has given it valuable offshore wind experience.

SeaEnergy has agreed joint ventures with three European utilities: Airtricity (Scottish and Southern Energy), RWE npower Renewables, and EDP Renewables. With these partners it plans to develop between three and five GW of offshore wind capacity within five years, and to build it within ten years. SeaEnergy plans to retain a 25 to 33 per cent stake in each project, resulting in net capacity of at least 1GW. With its partners, SeaEnergy has secured rights to 455MW and is currently bidding for acreage in the UK Round 3 with Portugals EDF.

The UK is an attractive offshore wind market, given its long coast lines and strong winds. The regulatory framework is positive, while feasibility studies for the construction of an offshore transmission system linking potential offshore sites in the coastal waters of Ireland and Western Scotland are underway. Slow progress in developing onshore wind and low solar penetration mean that if the UK is to meet its target of generating 20 per cent of its energy from renewable sources by 2020, offshore wind must be prioritised. But it is far more challenging than onshore wind, both in terms of technology and costs. Deep waters make it difficult to attach turbine towers to the seabed and post-installation maintenance is expensive. The cost of a transmission grid is estimated to at 15 billion. Large oil firms like BP and Shell have pulled out of offshore wind projects.

SeaEnergy is seeking to raise 8 million to fund its share of the development costs of the Scottish sites. US investment fund Lanstead has made a 7.5 million equity commitment at 55p per share, which will give it a 22 per cent stake. If SeaEnergy secures the consents it hopes for, there is likely to be another fundraising or an IPO in 2010. An announcement on UK Round 3 awards from the Crown Estate is expected in the last quarter of this year and the completion of the Scottish environmental assessment is expected in the first half of 2010. Both events will give the market a clearer indication of where SeaEnergy is heading.

http://www.edisoninvestmentresearch.co.uk/research/category/SeaEnergy

oilandgasman/theresearcher/holmes/devlin/etc/etc

Serial pump and dump merchant.

Ramco becoming this.......a bad joke.....ridiculous...same people possibly from oil now wind....

This could be a huge winner IMO. Could actually be looking at 100 - 300% SP increases here.

As oilandgasman has very well presented, the investment (ableit exceptionally high risk) is very attractive for this co.

Expected in Q110
Brokers predict a +/- 30% capacity change depending on the Strategic Environment Assessment for their RWE and Airtricity partnerships.

The cost of bringing the Scottish sites to consent will be 16.5k/MW, upon consent this value will increase to 150k/MW, providing a 9.5x uplift. Taking the sites to financial close or the start of construction sees this value rise to 570k/MW. Apply this across the board to their existing capacity and their potential capacity from round 3 and you have a 100m + company.

This is nothing more than an investment vehicle.....loads of them around....25% of something up in Scotland....plus bits and pieces of almost unknown oil companies....a company to be wary of....but the sp could go up...risky because of Ramco backround !.

Strong rumour that MPC and IDC, JV back on track. Both are in meetings next week in London and Iraq.

If so, could go ballistic.

No advice intended, DYOR.

guys i attended a one 2 one by given by analyst.co.uk on the 2nd dec in attendance were leni oil and gas and more importantly nexus management plc/NXS i bought 500k and 300k todays as interview given indicated major breakthrough contract for vpep with a global utility provider.up today and buy limits cut

Well, I posted some negative points on here just now and have just taken out a small punt on this only because of round 3 of awards....if it goes down : I won't lose that much.

Guys this oilbrat is known as "theresearcher" from advfn, a serial conman
who makes up his own rumours for pump and dumps !

He's been banned so many times on both sites for spam !

Not really any point banning him, you just ignore the comments - its quite easy.
I sincerely doubt someone in the possession of such knowledge would be posting on a Free online Bulletin Board.
Besides that the actual investment case here is strong.

UK, 8 EU nations sign pact for offshore energy grid

By Greenbang on Dec 07, 2009 in Energy and Fuel, Featured


Nine countries including the UK signed up today to develop an integrated offshore grid in the North and Irish Seas.

Other nations signing onto the plan include Germany, France, Belgium, the Netherlands, Luxembourg, Denmark, Sweden and Ireland.

The idea of a grid spanning European waters is to make supplies of electricity more secure for the participating countries by making it easier to optimise offshore wind electricity production. The grid is also aimed at helping the EU as a whole to meet its renewable energy target for 2020.

Talks begin today in Copenhagen on how we can cut carbon emissions worldwide, said Lord Hunt, Minister of State for the Department of Energy and Climate Change (DECC). A large part of that will be continuing the domestic decarbonisation of our energy supplies by moving to low-carbon sources including wind.

Were already the world leader in offshore wind here in the UK and todays announcements bring new funding and expert direction to grow this vital new industry. They also mean we can work with other countries in the EU to increase our renewable energy supplies.

Lord Hunt also announced the next round of Low Carbon Energy demonstration capital grants for Vestas, Clipper and Mitsubishi, and also the appointment of Bernard Bulkin as the expert chair of DECCs Office for Renewable Energy Deployment (ORED).

Vestas will receive 1.75 million from the hovernment and a further 1.75 million from the South East England Development Agency, in addition to 6 million already awarded. Vestas announced today that with the award of its grant, it will be going ahead with its research-and-development facility on the Isle of Wight. Vestas currently employs 160 on the Isle of Wight. By the time it opens the technology centre in 2011, the company expects this to grow to over 200 and then to nearly 400 over the following years.

All looking good for the next couple of weeks lads. 3rd Round here we come...

6th of Jan - Announcement Day!

Maybe R3 released on 23rd Dec with full details to follow on 6th Jan.

At the moment : my gamble is turning into a good investment......just hoping that the 3rd round goes well...

News looks promising....i can see things improving very quickly with this one.....cant wait

Up 14%...hope it holds

It will, and go much further.

Blimey ! $4.9 million dollars in the coffers.....nice !......2 rns in one day...looovvvellly...

Up again.....awarded something ...perhaps....the market seems to think so...

Now we're cooking.

Well : looks like they've been awarded something in the 3rd round but bizarre that there has been a leak about it....seems to happen frequently in the city this sort of thing....anyway it's good news and quite a few people buying in I see !.

Should see a 10 - 15% on Fridays confirmation too IMO.
Glad you did the right thing rf

A punt that seems to be paying off.....quite pleased !, I must say (so far).

Bought some more at 37p a couple of weeks back, now 64p to sell and rising.

I think that there is more to come yet from this one....best to go with the trend which is up... at the moment.

RF, my target to sell is currently somewhere between 2 to 5 at the moment depending on timescales.

Medium to long term investor, me.

Good luck all.

Hopefully the news will be made official on Friday.

From what I understand....the government will announce some windfarm awards then.....

yes but unfortunately everyone already knows we've one the rights to 1.

Now its whether the market will decided its priced in this news already or whether the confirmation will spark a further 15% gain. Am happy to hold through the news though. Personally yet undecided whether i am short - medium or long term here.

Ready for lift off.

Just announced confirmation on the radio, sp up 15% on top of yesterdays 15%.

Board very quiet.

Isn't anyone intrested in this.

As I said on the 2010 tips thread, this is my pick of the year, although my mate reckons that BAO will outperform this. Who cares i'm in both.

Err, sorry 20% up.

This reminds me of the Portlands Gas storage award.....

What happened there rf ?

Stock rocketed before crashing back.

So long as it holds a solid gain tonight I'm confident it will tick up over the next few weeks with brokers re-rating etc.

Times Tiddler to Watch Yesterday.
Personally would have sold at 86 / 85 this morning for a healthy 110% gain over 2 weeks but happy to hold 4 the time being in anticipation of these levels again

Sold out in 2 chunks today......can't complain.....doubled my investment....might be back in 30 days time or in a sipp.....other fish in the sea (no pun intended).....might go higher up to 90p or so....but it might remain around this mark for a couple of weeks...

Nice one guys.

UK offshore wind power contracts announced08-01-2010 13:30

Successful bidders for nine offshore wind power projects have been announced by the government.

The Crown Estate, the government property management agency responsible for allocating the projects, said the expansion aims to meet a quarter of the UK's total electricity needs by 2020.

Among the beneficiaries are SeaEnergy. Moray Offshore Renewables, a joint venture that is 25% owned by Sea Energy's 80%-owned subsidiary Sea Energy Renewables, has been awarded the right to develop wind power technology in northeast Scotland.

SSE Renewables, a subsidiary of Scottish and Southern Energy, is part of a consortium that will be involved in developing wind power in the Dogger Bank Zone.

'The offshore wind industry is at the heart of the UK economy's shift to low carbon and could be worth 75 billion and support up to 70,000 jobs by 2020,' said Prime Minister Gordon Brown.

'This announcement will make a significant and practical contribution to reducing our CO2 emissions and the Government will work with developers and The Crown Estate to support the growing offshore wind industry and help remove barriers to rapid development.'

wht happened today...damn

SeaEnergy director buys14-01-2010 16:38

John Aldersley-Williams, a non-executive director in offshore wind power company SeaEnergy, has invested 11,400 in the company's shares.

He bought 20,000 shares at 57p a share. This takes his total holding to 67,816 shares.

The share pruchase follows last week's news that SeaEnergy and its partner EDP Renovaveis had been granted rights to develop offshore wind farms in the Moray Firth, Scotland. SeaEnergy owns 25% of Moray Offshore Renewables, which won the rights in the third round of licensing.

Cantor-Fitzgerald increased its stake in SeaEnergy to 8.57% last week.

Aldersley-Williams has 25 years of experience in the energy business and in the past decade he has focused on renewable energy. He helped to develop the SeaEnergy business.

SeaEnergy used to be an oil and gas company known as Ramco. It still has some remaining oil and gas interests, including 32.7% of Mesopotamia Petroleum and 36.3% of Lansdowne Oil & Gas.

Look out for big news soon on MPC drilling for BP at Rumalia.

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RNS Number : 5802G
SeaEnergy PLC
03 February 2010





SeaEnergy PLC

("SeaEnergy" or the "Company")

Exercise of Share Options

3 February 2010

SeaEnergy announces that, following the exercise of 210,000 share options by two Executive Directors, it has allotted and issued, conditional upon admission to the AIM market, 210,000 new ordinary shares ("New Ordinary Shares") of 10p each.



The share options were granted under the Company Share Option Plan in July 2005 at a price of 34p per share.



The options were exercised as follows:



SR Bertram
Managing Director
150,000

CG Moar
Finance Director
60,000




Mr Moar sold 10,000 ordinary shares at 58 pence per share immediately following exercise.



Following these transactions the total holdings of the directors concerned are as follows:







Ordinary

Shares
% of Issued Share Capital


Options

SR Bertram


740,600
1.08
384,750

CG Moar


102,616
0.15
308,400




An application will be made for the New Ordinary Shares to be admitted to AIM and it is expected that dealings will commence on 9 February 2010.



Following the above share issue, there will be 68,448,279 ordinary shares of 10p each in SeaEnergy in issue.



For further information contact:



SeaEnergy PLC +44 1224 748480

Chris Moar - Finance Director



Ambrian Partners Limited - NOMAD +44 207 634 4700

Andrew Craig, Richard Swindells



Kreab Gavin Anderson +44 20 7074 1800

Ken Cronin, Kate Hill, Charlotte Reeve

www.seaenergy-plc.com



NOTES TO EDITORS



SeaEnergy PLC is the only listed pure play offshore wind energy company in the UK. SeaEnergy Renewables Limited is a subsidiary of the Company and is made up of the team which conceived, developed and delivered the world's first deep water wind farm development - the Beatrice offshore wind farm (10MW) (the "Beatrice Project") which is owned and operated by Talisman Energy. The Beatrice Project involved the installation of the two largest wind turbines (5MW each) ever deployed offshore, at water depths of 45 metres. This, combined with the SeaEnergy Renewable team's expertise in delivering deep water offshore developments in the oil and gas industry, puts SeaEnergy in an unrivalled position at the vanguard of the emerging offshore renewables industry.



Prior to the UK Round 3 award SeaEnergy had secured a 25% interest in two unrelated joint ventures to develop offshore wind farms in the UK with a total capacity of over 1800MW with partners Scottish & Southern Energy (Airtricity) and RWE AG (npower). The recent award of UK Round 3 of Zone 1 with partners EDPR takes SeaEnergy's net capacity in the UK to over 780MW, SeaEnergy has also signed a Heads of Terms Agreement to develop offshore wind farms in Taiwan with Taiwan Generations Corporation, the first project of which provides a minimum capacity net to SeaEnergy of 150MW giving a total worldwide capacity net to SeaEnergy of over 930 MW.








This information is provided by RNS
The company news service from the London Stock Exchange

END


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Missan Oil Company Awards Drilling Contracts
http://al-iraqnews.net

Baghdad 11/2/2010 4:15pm. British drilling company, Mesopotamia Petroleum, has been awarded 5 well drilling contract, Ali Ma'arij, the general manager of the Maysan Oil Company (MOC) announced today. He said the company would start drilling on Halfaya very soon to significantly increase production. No figure was given as to the value of the contract. MOC have also previously awarded the US services company Weatherford a $224m contract to drill on other of the Maysan fields operated by MOC. Mr Ma'arij pointed out that the drilling contracts will cover training to local employees of MOC as he said there was a great shortage of upto date technical expertise in the field of drilling services. He said more awards will follow soon.

Not yet RNS'ed so still time to beat the mm's.

Falling back to 25p my opinion.

Almost all trades done at "PLUS MARKET" with buying price just below middle price @ 40.40p.

Market Plus

From the "UPS" Thread ( short term punts).......


SEA 40.50p (39 - 42p)
Reason : Bouncing from the recent bottom yesterday after large retracement, Indicators still at oversold. Renewable energy, specifically offshore wind. A Has been named company of the year

Named company of the year is usually a good sign to sell.

Moving well ahead today expected positive news on today's budget


Green power revolution to create 500 jobs a month
Published Date: 23 March 2010 -- By JENNY FYALL

SCOTLAND will benefit from an extra 60,000 jobs as a result of a green revolution that will
sweep the country over the next ten years, according to a major new report.

scotsman - Green power revolution

upgraded to strong buy with the 64.24 target price in six months.

http://uk.stoxline.com/q_uk.php?s=sea

Another good day so far, as volume buying is picking up once again

The BUDGET

re -SEA

60 million pounds for Wind power - to develop ports for offshore wind

The chancellor says he want to set up an investment bank controlling 2bn of equity which will focus on investing in greener, cleaner energy and transport - focusing first on wind turbines.

Second day on the week moving higher, wondering if Next week will managed to hold.

Maybe the oil disaster on the Gulf of Mexico, could get some attraction on seaenergy business

Still a sell.

This wind farm is a TOTAL FAILURE. 23.5P NOW.

No surprise there hlyeo.

Another cracking call by RSItosser , lol

A very hot stock today

Full Nomura paper from oilbarrel newsletter ........valuation ...121p to 400p

Oilbarrel Newsletter 28th July 2010
July 27, 2010
Poweralternatives: SeaEnergy Acquires Value Through Its Stakes In Three Large Offshore Wind Farms -- By Stewart Dalby

Broker Nomura Code Securities has written an exhaustive and exhausting paper on its client SeaEnergy PLC in the wider context of wind power in the UK. A central finding of Nomura is that there is a looming 23 GW energy capacity shortfall in the UK which only nuclear and wind power particularly offshore wind power can fill.
What? wind power, I hear you say. Has not wind power become discredited, if not by our governments then by scientific opinion and self appointed media experts as a panacea for the UKs energy problems.

The Investors Chronicle, drawing heavily on www.withouthotair.com, the website of a book of the same name by a Cambridge University physics professor David Mackay, published an article which was critical of the UKs last Labour governments initiative to build numerous farms offshore in the North Sea. The so-called Third Round launched by that government is extremely ambitious. The labour government dished out enough acreage in 9 zones in the Third Round to build 32 gigawatts ( GW) of generating capacity. On one scale that is equivalent to 30 small power stations. The government of the day was keen to tell us the power from this lot would be enough to generate a quarter of the UKs demand for electricity.

But the scheme is less impressive when you look at the detail. True, 32 GW is a lot of power but it wont go that far. The 32 GW is the theoretical maximum. In practice every power station operates below its maximum, and if its a wind farm, its load factor will be far below. For example, take the Kentish Flats wind farm in the Thames estuary, which came on stream at the end of 2005. It was supposed to have a load factor of 36 per cent. On that assumption, it should generate 3.2 watts of power for every square metre of its 10 square kilometres. But in its first year of operation, its load factor ran out at 29 per cent and it generated 2.9 watts per square metre. Assume a load factor of 30 per cent for the putative 32 GW of capacity and you have about 10 GW of real power only enough for everyone to drive the theoretical family car for 3.3 miles per day as opposed to the 10 miles a day the 32.GW would give.

It is important to point out the growing doubts about the efficacy of offshore wind power because it could be germane to the financing of the Round Three projects, the latest development round of offshore wind farms. The financial community in the City of London has not, in a generalised sense, taken to the idea of offshore wind power. However, it could be that the Investors Chronicle is missing something in its sweeping criticism of offshore wind power.

Joel Staadecker, CEO of SeaEnergys 80 per cent owned subsidiary SeaEnergy Renewables Ltd (SERL) says: It is not for me to justify what Nomura says but I think the note on SeaEnergy is tightly written. It says if the UK is to meet its commitments to obtain a certain amount of its energy needs from renewables by certain date then offshore wind power is the best available option

Seen in this context offshore wind power looks justifiable and SeaEnergy with its oil and gas heritage and unique deep water wind expertise has a key stake in the exercise with 781 MW of potential power across three sites. This is equivalent to 8 per cent of the total planned UK deployment for the foreseeable future. Nomura argues that among the low carbon options the multi GW scale of the capacity rules out many renewables. Hydro cannot be significantly expanded, tidal and geothermal are too limited and early stage, wave power is promising but will do well to reach 1 GW of capacity by 2020. There is optimism that the UK feed-in tariffs system will stimulate a boom in solar that might deliver capacity on the GW scale by 2020. But this translates into only a few per cent of UK demand given the average plant load factors (PLFs) of under 10 per cent.

What is the significance of plant load factors? Put simply, 1 M W of capacity from different sources doesnt equal the same. 1GW of gas is worth 1.1 GW of nuclear, 2GW of offshore wind, around 3GW of onshore wind and probably 9GW of solar.

Whatever the arguments for and against offshore wind, the nine tenders in the Third round were tall taken up. The bids came largely from utilities like Scottish and Southern Energy. SeaEnergy is the exception in that it is a pure wind farm play.

How did a small company with a market of 30 million and limited funds became a player in this capital intensive industry? It is estimated that the successful implementation of all nine projects in Round Three will cost 100 billion.

SeaEnergy used to be Ramco Energy, an oil gas company. Ramcos modus operandi was to acquire oil and gas assets and trade them with major oil companies. Ramco famously held a stake in othe Azeri, Chirag, Guneshli (ACG) oil field in the Caspian Sea. It originally held 40 per cent of what was to become a 5 billion barrels field. But it traded most of its stake with a BP-led consortium and walked away with, if memory serves, some US$150 million. Ramco also had a services company.

SeaEnergys success in winning major offshore wind assets alongside utilities mirrors its O & G business. Versus oil, utilities lack offshore experience. This has made Sea Energy attractive to utilities and the Crown Estate, which owns the seabed.

SeaEnergy got its start when a team including Joel Staadecker built the Beatrice Demonstrator wind farm. The Beatrice field is owned by Talisman Energy and is in deep water in the North Sea. The two 5 MW turbines project was funded by Talisman, Scottish and Southern Energy (SSE) and various government bodies including the EU, UK and Scottish Executive. It had a number novel features. For example, the water depth, 40-45 metres required a different foundation method from the monopiles used for shallower waters and so a jacket structure was adopted from the oil and gas industry.

The project was finished in July 2007. The Beatrice core team was recruited by Ramco, as SeaEnergy then was, to form its new SeaEnergy Renewables Ltd( SERL) subsidiary, in which the Beatrice team hold 20 per cent of the equity.

After the Beatrice Demonstrator construction, SeaEnergy bid in the various UK rounds. The Crown Estate Round 1 was a pilot phase with farms limited to 30 turbines. Round 2 in December 2003 represented a scaling up. But it was in February 2009 that SeaEnergy really got among the projects. In that month it was announced that the company had been successfully awarded exclusive rights to develop two of the ten Scottish round sites, The 920 MW Beatrice (75 per cent Airtricity SSE, 25 per cent SeaEnergy) and 905 MW Inch Cape (75 per cent RWE, 25 per cent Sea Energy) are the second and third largest sites in the round. SeaEnergys model was the same as that used in the Caspian Sea in Ramcos daysa smaller company leveraging its unique assets to win a place alongside much larger players based on its experience in offshore and deep waters.

In January 2010 Sea Energy with its partner EDP Renovaveis (75 per cent) won the exclusive rights to develop Zone 1 Moray Firth, a 1.3 GW zone in the UK Round 3.

With construction of the Scottish round beginning in 2014 and the UK Round 3 in 2015 there is no plan for a further new round that would lead to construction before the end of the current decade.

On the basis of the 25 per cent stakes across three sites giving it an interest in 781 MW of power. Nomura values SeaEnergys at 121p a share. There seems to be nothing in the price for projects the company has won in Taiwan and China.

Nomura arrives at its valuation by saying: There are a growing number of valuation benchmarks from deals at each stage of development from 150,000/MW at the consent stage (2012/13) to 550,000MW at financial close. It is this period before the major expenditure on turbines and installation, that generates the most attractive returns on capital. With a 38 million share of expenses generating 10 times this asset value, at the current stage benchmarks imply that Sea Energy is worth 121p/share, with scope to rise to over 400p/share at financial close in 2013/14.Our forecasts include the costs associated with all the sites developement, but assumed sale of only one site at financial close in 2013.

After the Nomura note was written, RWE npower, SeaEnergys partner in the Inch Cape development notified SERL of its desire to exit the project. This is due to the considerable size of its other onshore and offshore renewable generation
commitments.

After this, Sea Energy announced a restructuring. It said: In order to maximise shareholder value and given the tough current financing environment, the company intends to dispose of all or a significant part of its holdings in SERL and has initiated a formal sale process.

A successful sale would allow the company to accelerate the development of its marine services business with the prospect of near-term earnings and cash flow. It seems that several third parties are interested in acquiring all or part of SERL.

Joe Saadbecker is sanguine apart the companys prospects. He told oilbarel.com: I am sure we will continue as a successful wind farm development company.

28.50 / 30p +5p

going places now as is getting into the 1 Million volume

Good volume today maybe the reason as we know news is due on several fronts.

A new push UP this afternoon after the early profit taking this morning
The volume is getting to the same size as yesterday, though not the same rise so far.

Continuing with last week rise

Could it be that some news are on the way about exploration? form MPC news........

MPC
The Company holds a 32.67 per cent stake in an associated company, MPC, of which Stephen Remp is currently Chairman. MPC is currently engaged in preliminary discussions with a leading Middle Eastern group to acquire a package of drilling assets including six relatively new and high specification rigs. This comprehensive package, which we believe is of high quality and ideal for Iraqi conditions, could form the basis of a formidable Iraq-based drilling operation, working either for the government or the new foreign consortia which have gained field development contracts in recent months.

Master RSI, a prominent poster on another thread who is based in Iraq has stated that they have the rigs and are going to target Kurdistan for drilling.

All we need now is RNS confirmation to justify the increased activity in trading.

I suspect SERL to gross at least 100million if the chinese are bidding, as EDPR need SERL at all costs.

Looking forward to a rosey future.

One for the "UPS"

Master RSI - 19 Aug'10 - 10:07 - 111 of 114 edit
SEA 24.75p

Reason; Bouncing with volume from a 61.8 Fibonacci retracement.

Just noticed the volume on the monitor as I open the screen, after yesterday's hold at 23.50p were I made the chart and it was at 61.8 Fibonacci, so I was expecting to move from there.
I was late on the screen this morning

Oh yeah the "ups", i remember that shocking thread from advfn !

Where all the serial lying pump and dumpers trying push their rubbish
onto the next mug !

You still pushing your stock onto the next mugs then rsi !

rdg

To be fair to rsi, I've made lots of money from his ups thread as a short term buy. Obviously I had the final decision over whether to buy or not.

The problem now is the market is so unpredictable that it is much more of a riskier play particularly in AIM stocks where the MM's are keeing their sp low and as such I very rarely do it. If and when the market improves though I believe it works and I don't believe rsi is purely doing it to pump his own stocks.

ps he ain't my brother, honest guv!

gravy

re - advfn

Did someone told me you were expelled from there?.
A little bird said Other posters told you too many names and you being of a fragile disposition could not handle

dealerdear

did you know " gravy" is a frustated poster, moving from one place to another.
That is talking rubish about my short term punts at "UPS" but is buying them.

The C#NT, has bought GGG, CAZA, and a few more lately and soon will get SEA aswell.

Keep cool rsi, to be fair I've had a good exchange of ideas with rdg on the COV thread

Rsi.

I would have thought advfn would have kept you busy enought with the ramping
dont you ?

How many sites are you using now then ?

Seems to be a different stock every day which suggest "pump and dump"

Well i know for a fact it's pump and dump, you've been doing the same ever
since i first saw you on market eye !

gravi

re - market eye

you seem to be all over the place not me then, they ban you there also?

How stupid can you be, "UPS" is shares on the move during the week, so one mention those stock, and then you BUY them, and now complaining.

Keeping you dirty SHIT mouth close would be much better for every one, do research before talk nonsence.

Caught with the trousers down again, SHAME you are wearing Knickers today.

About to go ballistic if sugested news from Saudi is to be believed.

I hold and have my fingers crossed.

Wind power delivers near 10% of UKs electricity

10 September 2010 -- Wind produced nearly 10% of UK electricity earlier this month setting a new record for wind power production in the UK according to data from the National Grid.

On Monday 6 September, 1860 MW was being generated largely from Scotland accounting for 4.7% of total generation at the time.

National Grid also believes that if embedded wind generation (generation feeding directly into the low voltage local electricity networks by smaller wind farms) is taken into account wind generated about 10% of GBs power during the 24 hour period.

This is not including the contribution from other renewable energy such as hydropower, which contributed a further 4%, according to data held by Elexon, the balancing and settlement code company for the UK. The total consumption during the 24 hours was 809.5 GWh.

RenewableUK CEO Maria McCaffery, says: We are expecting to see the contribution of electricity from wind gradually increase over the next decade, to around 30% of the UKs total consumption. This news confirms that not only are the wind farms we have built so far starting to deliver, but that UK wind farm electricity yields are the best in Europe, and comparable with established technologies such as hydro.

These figures underpin the strong contention that renewable energy and wind energy in particular is no longer alternative. It is on the scale and growing rapidly.

The UK currently has 4616.05 MW of installed wind energy across 263 wind farms, with a further 2716 MW in construction and 6126 MW with planning consent.

If we added together all the wind energy projects in planning to the projects already existing and about to come on stream, we would be three-quarters of the way to reaching our 2020 targets. If we count in the tremendous potential of offshore wind, the plan of turning UK into a net energy exporter does not seem unlikely. Reaching our targets and unleashing the colossal opportunities wind energy brings to the UK is perfectly achievable, McCaffery adds.

Iberdrola Raises UK Investments To EUR4.8 Billion For 2010-2012 Period

Monday 13 September 2010

Spanish electricity company Iberdrola SA (IBE.MC) said Monday it will invest EUR4.8 billion in its U.K. operations from 2010 to 2012.

That is more than the EUR4.5 billion the company had previously earmarked to invest in the period in the U.K. The increase comes as the outlook for offshore windpower and carbon storage has improved, an Iberdrola spokeswoman said.

Two thirds of the U.K. investment will be in Scotland, primarily in wind power, intelligent electricity grids, and the Longannet CO2 capture and storage facility, Iberdrola said, following a visit of Scotland's First Minister Alex Salmond to company headquarters in Bilbao, northern Spain.

Iberdrola is the world's biggest wind-power generator.

Large buying volume today,
Ready for the move up as MMs have been holding the stock down due to overhang, but the buying is strong so the shares left must be small by now
CHART, this 3 month chart has the shape of a CUP & HANLDE, so the volume is what it needs to turn on the way up now, but ...........to be a CUP & HANLDE must follow an UPTREND and the shares have been in a DOWNTREND

Is on the move up already, as so far are all buys some large ones ( above NMS)

a punter paid premium 26p, when offer was 25p

4 MMs have moved prices higher on the level 2

Nothing to say on atuk then rsi ?

ps...the premiums and discounts that you are seeing everywhere are faults
with online brokers and people are getting quoted prices outside the spreads
but still excepting them, Sxx is a example, i just got quoted 8.09p when it's
7.75p offer with selftrade.

It's misleading to say punters are paying premiums suggesting little stock when
there's ample stock but dodgy online systems currently.

This is SEA thread maners

or no the SPINSTER is back as a STALKER

get on with feeding the cats, and do not forget to give them their milk instead of you drink it all.

What on earth is wrong with you ?

You are incapable of posting sense !

Both Tdw and Selftrade are quoting prices at times outside the spread so if a punter chooses to accept it indeed looks like a premium has been paid, but not
because there's a shortage of stock, one poor sod paid 17.25p for Soloman Gold
for just 12k when the offer was 13p and not in auction despite the NMS being 20k !

There is a glitch that needs sorting out.

But you carry on posting crap rsi like you did on the Atuk thread when i warned people of a imminent discount placing which appeared.

Gone very quiet here i see lol :-))

.

Probably because well known traders all rushed for the exits when it
started to drop rsi being one of them !

.

No idea, i aint got time to check plus, a friend using advfn tells me when i ask him
so once again i'm looking forward to when money finally get around to putting them
in, i'll gladly pay another 10 a month to see them, i'm sure everybody else would
so it covers the cost to pay plus markets.

re - Probably because well known traders all rushed for the exits when it
started to drop rsi being one of them !

As usual " ravey" talking from HER ( we now know ) backside ( and it must be big by now ) if having to bend all the time on feeding the cats and dog.

Offshore wind costs must and will come down -- 28 September 2010

Offshore wind costs in the UK have risen significantly over the last five years, according to the UK Energy Research Centre (UKERC), but they could be reduced in the future.

At the moment, the UK offshore wind industry imports 80% of equipment and services from abroad, something which has added to the cost of offshore wind, according to the UKERC report Great Expectations: The cost of offshore wind in UK waters.

Chief author and Head of Technology and Policy Assessment at UKERC, Dr Robert Gross, says: The UK is not yet fully benefitting from being a world-leader in the field; in effect UK consumers are subsidising Danish and German wind energy companies. This report suggests that policies could do more both to bear down on costs and support a UK based industry.

The cost increases over the last five years or so, have been due to currency and commodity prices movements, but also supply chain shortages and bottlenecks have impacted offshore wind costs. Furthermore, planning delays have added to developers budgets and undermined supply chain confidence, UKERC says.

Optimistic about future

UKERC is nonetheless optimistic about the future, saying that a plateau in costs for offshore wind may have been reached.

Although costs are likely to decrease slowly at first, material reductions are possible if the right incentives are put in place for offshore wind.
UKERC says one way could be for the Government to revise the system of premium payments currently delivered through the Renewables Obligation, so that they send a long-term signal that support levels will gradually reduce over time.

Dr Gross concludes: At the moment the UKs support system offers a generous subsidy but may not do enough to build confidence in the companies making components, providing vessels or delivering support services. We could do more to support innovation and the smaller players lower in the supply chain.

This article is featured in:
Wind power

Source ..... http://www.renewableenergyfocus.com/view/12806/offshore-wind-costs-must-and-will-come-down/

The chart is positive at the moment as is moving higher from the 17p low end of June, the other thing happening and not very often is the way the 10 day Moving average is crossing UP the 26 Days MA, when that happen end of July there was a large rise.

Down about 30% since your 2nd August ramp Mr Tosser , not done a study but from what I've seen we would be better off shorting the crap that you tip.

The B'stard is BACK, most likely had a bad time trying to catch a SHEEP, you know why is from across the left of the Island, I think they are still practising the "shepp shagging" business.


Only for the B@stard
Shares are for trading the one,s they know how to do it, not for "Dil" the - crapper - also ( Those animal abusers are trying to infiltrate around here )

re - 2nd August ramp

I think you are a C#NT also, nothing on that date of a ramp or price, a twisted mind also, it must be mixing with too much sh!t doing the business

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Get ready for lift off.

MOVING NOW. CANT BUY ANY ONLINE.

COULD BUY SOME ONLINE WITH HSBC

SeaEnergy's Beatrice and Inch Cape sites have been identified as suitable for offshore wind farms by the Scottish government's strategic environment assessment. SEA examined the likely impact of offshore wind developments, including the cumulative effects from more than one development, and from other types of developments.

SEA was designed to help ensure that Scotland's future commercial offshore wind resource is developed sustainably.

The 920MW Beatrice and 905MW Inch Cape sites were awarded to Sea Energy's 80%-owned joint venture, SeaEnergy Renewables Ltd, in February 2009 by The Crown Estate in the Scottish offshore wind farm application process.

The publication of the SEA will now allow agreements for Lease to be negotiated and finalised between the respective developers and TCE. Work has already started on both Beatrice and Inch Cape.

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Yes, and momentum still building today which is nice to see for a change :)

Your majesty, how are you, it's been a while.

Selling Corgi's to cope with the downturn.

Not sure if you mean dogs or gas boilers, but never mind, you are still there and your soh is intact.

Do you want to swop stock lists? Just a thought like.

Always happy to see where others are making/losing their money...

Had a good little run, which makes a nice change. Blinkx has been a star and I had a little speculation in JJB and got out just about the right time. All looking OK really - what could go wrong?

How have you been doing?

Not too bad - had a nice spike with De La Rue which dipped but has now regained most of the lost ground. Was also in Omega Insurance which fell on poor results and cessation of the dividend, only to bounce back within days on bid speculation.

So it appears you only buy shares that immediately collapse - would you mind letting me know what you're thinking of buying next?

Sareum had an amazing day and tomorrow will be interesting, are you in that one?

I have a couple of little speccy ones, adds a bit of spice don't you think.

Took a bit of profit on Valerx today and thought about selling some JJB when the price went up, then thought about buying some more when the price went down. In the end did nothing. Fun this investing lark, ain't it.

This is now on its way, SERL sale news imminent-ish.

I expect a rise to circa 1 over the next month or so.

DYOR and don't take my word for it.

Another 6p so far today.

good news indeed.

oilyrag - can you put a chart in the header please.

time to coin flip here i think!

dodgy according to city whisphers apparently

gla

Aye it`s been dodgy for the years I have held it but tiny + is , well a plus.

gibby, the only thing dodgy here was the way that LANSTEAD and CANTORS manipulated the sp in my opinion. Now that all of Lansteads shares are paid for there is no longer any reason to hold the price back.

THIS IS GOING ONE WAY AND ITS UP.

Sorry for shouting.

dodgy it may well be but I like the syle of its sp.

shouting seems reasonable at this time!!

sp looking good - an rns would be helpful though

other good news today for SEA is that the gov has just signed up to the toughest global reductions in co2 emissions yet and that will not be reviewed until earliest 2014 by whoever is the energy minister then - this should send SEA even more blue! apparently negotiations not far off from being completed ref serl sale possibly this week hence SEA increases this week! the news today will only reinforce this sale.....

SeaEnergy plc (AIM: SEA) announces today that it has reached agreement with a consortium of major European energy companies ("the Consortium") to grant a period of exclusivity to negotiate the sale ("the Transaction") of the Company's 80.13% interest in its subsidiary SeaEnergy Renewables Limited ("SERL").

Due diligence is already in progress and the agreement contemplates the signature of formal documentation by early June when the Company would make a further announcement. It is then expected that, in accordance with the AIM rules, the Company would convene a general meeting to obtain shareholder approval of the Transaction with the intention of completing the transaction at the end of June. A member of the Consortium has agreed to advance loan facilities to assist the Company and these loans would be repayable out of the proceeds of any sale.

note by early june - apparently according to whisphers they are ahead of scheulde!

yeeeehaaaa!

note paragraph 'SeaEnergy plc (AIM: SEA) announces today that it has reached agreemen...' is from 3rd may rns

interesting info from earlier this year..

LONDON (ShareCast) - John Aldersley-Williams, a non-executive director in offshore wind power company SeaEnergy, has invested 11,400 in the companys shares.

He bought 20,000 shares at 57p a share. This takes his total holding to 67,816 shares.

The share pruchase follows last weeks news that SeaEnergy and its partner EDP Renovaveis had been granted rights to develop offshore wind farms in the Moray Firth, Scotland. SeaEnergy owns 25% of Moray Offshore Renewables, which won the rights in the third round of licensing.

Cantor-Fitzgerald increased its stake in SeaEnergy to 8.57% last week.

Aldersley-Williams has 25 years of experience in the energy business and in the past decade he has focused on renewable energy. He helped to develop the SeaEnergy business.

SeaEnergy used to be an oil and gas company known as Ramco. It still has some remaining oil and gas interests, including 32.7% of Mesopotamia Petroleum and 36.3% of Lansdowne Oil & Gas.

only 69.11m shares issued for sea

Who wants yesterdays papers, tomorrows would be good?

well tomorrows is indicated

current good turn over of shares should continue blue - quite possible a repeat or better of yesterday on the cards - not even 9am yet! loads of interest here at all levels of investor which is only good

keeping me ear to the ground! look fwd to your next humerous comment for that as well!!

have a good day

I need a quid to cheer me up, it may come soon too

value serl to exceed 100m which equates to at least sp of 1.44 - we are still under half that - more kerrrrrrrrrrrrrrrchinnnnnnnnnnnnnngggggggggg easily here today - professionals are waiting for the bottle job pis to sell on tiny profit so they can snap up cheap - it is unfolding in front of everyones eyes right now - hold on to your hats!!!

if you didnt already know note tha value below:

'SeaEnergy, the Aberdeen-based energy group, is in advanced talks with a consortium of European companies over the sale of a majority stake in its offshore wind subsidiary.
The company, chaired by Steve Remp who founded Sea-Energy's predecessor Ramco, yesterday said it had granted a period of exclusivity to the consortium to negotiate the sale of its 80 per cent interest in SeaEnergy Renewables (SERL) which owns intere
ADVERTISEMENTsts in the Beatrice, Inch Cape and the Moray Firth offshore wind farm developments in Scotland.

One of the members of the consortium has also agreed to advance loan facilities to SeaEnergy to be repaid out of the proceeds of any sale of the business, which was last year valued at more than 100 million.'

seq - in that case i anticipate you being happy soon then!

may see some panic sells hopefully - good time to top up - this standard release rns is a license to print money!!! yeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaa

Statement re Share Price Movement The Company notes the recent movements in its share price, and confirms that there is nothing further to add at this point in time to the announcement which it made on 3 May 2011, in relation to the potential disposal of the Company's 80.13% subsidiary, SeaEnergy Renewables Limited ("SERL"). While there can be no certainty that current negotiations will result in a sale of SERL, these negotiations are continuing at present in line with the timing set out in the announcement of 3 May 2011. Further announcements will be made as required.

wait for the bottom and buy big!!

yeeeeeeeeehaaaaaaaaaaaaa

bigger the drop the better - the weak being shaken out - watch out for stop losses

seeking bottom!!!

auction!

imo we/ve bottomoned - bouncing

still bouncing lol lol - more easy money today - yeeeeeeeeehaaaaaaaaaaaaaaaaaaa

the rise was due to ii buying in the main - panic pis today enabled this drop now subsequent rise back to where it should be

what a day and great xel earlier!!

It would be easier to knit fog than make sense of small caps.

yes sounds like an interesting hobby to take up!! i will start with light mist and try to fast track to thick fog!

small caps / aim - yep slightly different to the main market! lol

sense & prospects often play no part at all here!

however unlike the pis the iis know the companies to follow such as sea & xel et cetera

keep an eye on otc - been a bit of a wait but recent offer over subscribed - should have news soon there - absolute bargain right now - if otc was a supermarket it would be the equivalent of buy 1 get 2 free!!

impatient pis @ otc have been shaken out already - some of the hardier less impatient pis also been shaken seeking quicker profits elsewhere then should buy back in

Whores and drawers spring to mind.

indeed - up and down or on their heads! lol

no, usually on their bums actually, but how would I know?

indeed seq - i will spare you the question!

well just got back more good news - eo. steady & iis creating market, here going in the right direction again after yesterdays blip - satisfactory day at the office so far

steady small rise today - like it

i would not wanna be outta sea this weekend!!

roll on monday and yet more blue here

even better an rns would be kerrrchinnnggggggg!!!

another steady rise

i would not wanna be outta this when the sale rns arrives - yeeeeeeeeeeehaaaaaaaaaaaaaaaaa

yes satisfying day here! blue every day this week would suffice! gla

I hope I'm not going to regret this but i bought a few of these Friday....holding gibby responsible.....looking ok at mo so taken finger off the trigger for the mo gib, would you want both barrels or one if the wheel comes off??.,.

baler - i am confident here - if it goes belly up which imo is very unlikely we'll both be in the doings - however extremely decent of you to give me a choice on the qty of barrels - do you mind if i defer the answer lol! by all accounts the sale is at worst on schedule - but according to various chatter actually a bit ahead of schedule - we all want the rns sooner rather than later for obvious reasons - but it could leterally be anytime - and i really would not wanna be out of sea then - i kid you not - one day rodney one day!! lol

have a good evening

or even literally lol!

My expectation is circa 200million for SERL and an sp in the region of 3.

Balerboy, did gibby hold a gun to your head to make you purchase. If not then the only one you should be pointing those barrels at is behind the butt. LOL.

LOL: Unless gibby is as big as a barn door...I'd miss anyway.,.

i can breathe easy then!! lol

dont miss out here - now june - wait will be over soon - yeeeeeeeeeehaaaaaaaaaaaa!

satisfactory day at the office lol

roll on rns - ticking up nicely to anywhere between 120 to 200 imo and rather quickly

gla

i would not wanna be outta these over the weekend or tomorrow morning! lol

i'm in gibby, and in profit so keep on going all the way to the SEA side.,.

good stuff baler - we'll keep going all the way to the SEA side lol!!! a SEA of gold tickets!!! there is a whole load of stuff going on here aside from the sale - exciting times ahead and very soon - kerrrrrrrchinnnnnnnnnnnngggggggggggggggggggg!!

have a great weekend

you too.,.

Conditional Agreement for disposal of SERL

SeaEnergy PLC is pleased to announce that it has reached agreement to dispose of its entire interest in SeaEnergy Renewables Limited ("SERL") to Repsol Nuevas Energias SA ("Repsol")(the "Disposal") in a deal which values SERL, created just under three years ago, at an enterprise value of approximately GBP50 million.

sp down 40%?

Yes - its amazing the people bleating on about this on other boards - smoke and mirrors - may find some support @40p - which is where it was at the start of May!.

It means SeaEnergy will be left with 29.1 million after repaying loans to the LC Capital Master Fund.

Market cap 42 mill.......surley its over priced at present hence the drop

Not going down.

RNS Number : 9216H

SeaEnergy PLC

06 June 2011

Date: 6 June 2011

SeaEnergy PLC

The Crown Estate signs Agreement for Lease for Scottish wind farm

SeaEnergy PLC today announced that its subsidiary SeaEnergy Renewables Inch Cape Limited (SERICL) has today signed an Agreement for Lease with The Crown Estate Commissioners which will lead to the development of around 905 megawatts of offshore wind generation capacity off the Angus Coast.

SERICL is currently a wholly-owned subsidiary of SeaEnergy Renewables Limited (SERL). Repsol Nuevas Energias SA (Repsol) has today announced the acquisition of SERL following its divestment by SeaEnergy PLC, subject to shareholder approval. Following the conclusion of this transaction, it is intended that the Inch Cape site will be developed by a joint venture between Repsol's New Energy Unit and EDP Renovaveis.

Inch Cape is one of six sites in the Scottish Territorial Waters Leasing Programme deemed suitable for development following publication of the Strategic Environmental Assessment and Post Adoption Statement by the Scottish Government in March of this year. The 150 km(2) site is situated between 15 and 22 kilometres east of the Angus Coastline and will have an indicative capacity of 905MW - enough to supply power for around 680,000 homes.

The Agreement for Lease grants the exclusive right to develop wind farms on the site subject to obtaining the necessary consents. The companies will now continue to work on the preparation of a Consent Application, including an Environmental Impact Assessment, which is expected to be submitted to Marine Scotland in 2013.

The Inch Cape site was originally awarded in 2009 to a consortium comprising RWE npower renewables (npower) and SERL. Following npower's decision to exit from the project in 2010 due to the scale of its other renewable generation commitments, The Crown Estate agreed to directly invest over GBP1 million in Inch Cape to secure the future of what is a key project in the development of Scotland's offshore wind industry. The Crown Estate's investment was used to fund key surveys and reports.

Gareth Baird, Scottish Commissioner of The Crown Estate said: "This investment demonstrates the critical role played by The Crown Estate in helping drive the Scottish offshore wind industry, in line with one of the Scottish Government's key objectives. The Crown Estate's structure and diverse UK portfolio makes this investment possible and has enabled a Scottish based developer to attract investment into the Scottish economy from two international developers."

Joel Staadecker, CEO of SERL said: "Inch Cape is a tremendously well situated site with great wind resource potential, and thanks to The Crown Estate we have been able to continue to progress the project without any delay. The new joint venture between Repsol and EDP Renovaveis will now allow us to bring this important part of Scotland's offshore wind portfolio online."

-Ends-

how annoying - what was supposed to be a short to medium term has turned into medium to long for me!!! at least they have cash and prospects - can only hope for a counter bid from someone like scottish power etc - if you are able to hold this will be good - also:

http://www.proactiveinvestors.co.uk/companies/news/29037/seaenergy-boss-remp-lauds-deal-made-in-heaven-29037.html

SeaEnergy boss Remp lauds deal made in heaven
2:51 pm by Jon Mainwaring
SeaEnergy Marine will focus on supporting the offshore wind industry Steve Remp, boss of marine wind and oil business SeaEnergy (LON:SEA), told Proactive Investors that he expects the proposed deal announced today to dispose of the companys 80.13 percent interest in its offshore wind farm business SERL to be accepted by shareholders.

Were very confident that the shareholders will approve it. This is a deal made in heaven, said the firms executive chairman. It means weve been paid during the past few years to learn everything we can about offshore wind. Thats how I see it.

The deal between SeaEnergy and Spains Repsol Nuevas Energias values SERL, a business which Remp describes as having been created out of nothing but a concept three years ago, at 50 million. After transaction costs SeaEnergy will retain net proceeds of 29.1 million, following a repayment in full of loans LC Capital Master Fund and EDP Renoveis of 6.9 million.

Later this morning the firm announced that SeaEnergy Renewables Inch Cape a subsidiary of SERL had, in fact, signed a leasing deal with the Crown Estate Commissioners that will lead to the development of around 905 megawatts of offshore wind generation capacity off the Angus coast, east Scotland. Following the conclusion of the deal with Repsol, it is intended that the Inch Cape site will be developed by a JV between Repsols New Energy Unit and EDP Renoveis.

Remp says the deal gives SeaEnergy a lot more flexibility. It allows us to do several things. It allows us to stay in renewable and it allows us to stay in oil and gas. I was always reluctant to leave oil and gas, and now we can stay in this sector.

SeaEnergy which changed its name from Ramco in the autumn of 2009 retains interests in the oil and gas sector through investments in Lansdowne Oil & Gas and Mesopotamia.

On the renewable side of things, the firm has been developing SeaEnergy Marine for the past year. This business is pursuing its plans to construct an operations and maintenance vessel that is aimed specifically at maximising the time that offshore wind farm developers can put technicians onto offshore turbines so reducing periods when turbines are not producing electricity.

Meanwhile, SeaEnergy Marine is also negotiating a strategic cooperation agreement with Nantong COSCO Ship Steel Structure to explore construction opportunities for steel substructure jackets for use with deepwater offshore wind turbines.

Expertise in building platforms at sea will be much sought after by those constructing offshore wind farms, according to Remp. Every single oil and gas platform is different, and I have worked on a lot of them. Its the same with offshore wind turbines, he said.

Meanwhile, part of todays disposal agreement includes a deal between EDP Renoveis and SeaEnergy to explore arrangements for the supply by SeaEnergy Marine of operations and maintenance vessels, field infrastructure and equipment installation vessels for offshore windfarms.

One of the aspects of this deal is the strategic collaboration between us and EDPR and you will see us duplicate this kind of relationship with a number of major companies, said Remp.

Indeed, he added: Ive never in all my years at Ramco and now SeaEnergy experienced a time when we have so many discussions going on with alliance and joint venture partners.

In spite of Remps upbeat tone, investors were less enthused about the deal. At 2:28pm today the shares were down 41 per cent at 40.6 pence each.

Broker Ambrian Capitals Gurpreet Gujral wrote in a note released earlier today that SeaEnergys sale of its interests in SERL provides it with the much-needed capital to build out its Marine business, which we believe is likely to generate shareholder value quicker than the offshore wind assets.

Date: 7 June 2011

SeaEnergy PLC

("SeaEnergy" or the "Company")

Posting of Circular and Notice of General Meeting

Following the announcement by the Company on 6 June 2011 regarding the conditional agreement for disposal of SeaEnergy Renewables Limited, SeaEnergy PLC is pleased to announce that on 6 June 2011 it posted a circular to shareholders convening a general meeting to be held at 9 a.m. on 22 June 2011 at the offices of Ambrian Partners Limited, Old Change House, 128 Queen Victoria Street, London EC4V 4BJ.

The circular sets out the background to and reasons for the Disposal, explains why the Board considers that the Disposal is in the best interests of the Company and its Shareholders as a whole and details the resolution to be proposed at the General Meeting.

The Board unanimously recommends that all shareholders vote in favour of the resolution to be proposed at the General Meeting as the Company's directors have irrevocably undertaken to do so in respect of the shareholdings in which they are interested, amounting to 13,178,080 Ordinary Shares, representing approximately 19.1 per cent of the Company's issued share capital.

A copy of the circular is also available from the Company's website at www.seaenergy-plc.com

Defined terms in this announcement have the same meaning as those defined in the announcement made by the Company on 6 June 2011 at 07:00.

25p next?

this has been a bit of an over reaction - personally i am glad that sea have remained in oil and gas - but would have preferred the sp not to take a bashing - just gonna sit it out and trade it back - not selling i am too mean to sell at a loss! lol!

consider sea's holdings in other companies - there is a lot happening and i expect the sp to return - good sp right now - gla

SeaEnergy (SEA) Update
6

06

2011
A little more detail on SeaEnergy:

In todays RNS which caused the shares to close the day down a whopping 43.5% SeaEnergy announced that, subject to shareholder approval, they will dispose of their 80% holding in their loss-making wind farm development business SeaEnergy Renewables, for a total consideration of 38.8 million. Yet SeaEnergys market cap at close of play today stands at 27 million. Whilst yesterday before they decided to sell this loss-making business the company was valued at 48 million. These figures just dont add up to me.

Also, whilst there were a lot of sells early on today, by close of play the buys almost equalled the sells (5.1 million sold, 4.9 million bought) so the drop certainly looks to have stabilised and indeed buys were outnumbering sells by end of day. All of this leads me to believe that a lot of the selling was caused by stops being taken out, and also by a snowball of irrational negative sentiment. So on a technical and fundamental viewpoint, I stand by my earlier assertion that the company seems oversold at these levels and that we could hope for a bounce from here.

I admit that I still have a lot more to learn on SEA and want to dig deeper into the proposed building of maintenance and construction vehicles for offshore wind farms (initial thoughts are it could be lucrative but expensivebut then they have just netted 30 million after clearing debts) but having had a loose eye on them for some time, this seemed to be too good an entry point to miss. I love shares where downside is limited by the fact that cash covers market cap and this now seems to fit the bill perfectly.

34p +0.875P

Trying since last Friday to bounce back after the last drop, but this morning was marked down earlier, since then a string of buyers have moved the price up again though a large spread now 32 / 36p, but buying is well below offer price

29p +2p

Direstor BUYING shares

SeaEnergy has been notified of the following dealings in the share capital of the Company:

Mr Steve Remp, Executive Chairman, through his pension fund, on 13 July 2011, purchased 311,770 ordinary shares of 10 pence each in the issued share capital of the Company ("Ordinary Shares"), equivalent to 0.45 per cent. of the issued voting share capital. The Ordinary Shares were purchased at 28.50 pence per share.

Following the above purchase, Mr Remp holds 5,141,088 Ordinary Shares, equivalent to 7.44 per cent of the issued voting share capital of the Company.

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mnamreh - do you hold these? I looked earlier in the year - but did nothing - see post 181.

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mnamreh - no, again see post 181 - I will look again later - a bit busy this morning :-)

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Mnamreh - I didn't buy these in the end, but will keep watching for now - good luck with them!

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Incredibly undervalued.....just has to climb.....fair value would mean that the sp has to double almost !.

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Audited Results.

Financial Highlights:

· Disposal of the Company's interest in SeaEnergy Renewables Limited (SERL) in June 2011 resulting in gain of £32.8 million.
· Profit for the year of £25.3 million (2010: loss of £5.7 million).
· Earnings per share 37.08 pence (2010: loss per share 7.65 pence).
· Net assets at 31 December 2011 £27.6 million (2010: £1.3 million)
· Cash position at the end of 2011 of £21.9 million (2010: £0.1 million).
· Proposed return of value to shareholders of 10 pence per share (2010: nil) equating to £6.9 million.

Found this audio interview for Sea Energy it worth a watch

http://www.brrmedia.co.uk/event/97873/john-aldersey-williams-chief-executive

.

Tender Offer

The Company announces that it is today publishing a circular to the shareholders of the Company (the "Circular") detailing the proposal to return surplus cash to Qualifying Shareholders by way of a proposed tender offer, pursuant to which Investec Bank plc ("Investec") will purchase, as principal, up to 19,197,442 Ordinary Shares, representing approximately 27.78 per cent. of the Company's existing issued Ordinary Shares at a price of 36 pence per Ordinary Share, which represents a premium of 32.7 per cent. over the closing mid-market price of the Ordinary Shares on 5 July of 27.12 pence, being the last dealing day before the date of this announcement. Investec has been granted an option to require the Company to purchase from it such Ordinary Shares (the "Repurchase"), which, if purchased by the Company, will then be cancelled.

If the maximum number of Ordinary Shares under the Tender Offer are acquired, this will result in an amount of approximately £6.9 million being paid to Qualifying Shareholders who accept the Tender Offer, which equates to 10 pence per Ordinary Share in issue immediately prior to completion of the Tender Offer.

The authorisation of the Repurchase and, accordingly, the implementation of the Tender Offer, requires, inter alia, the approval of Shareholders. Therefore attached to the Circular is notice of General Meeting of the Company to be held at the Marcliffe at Pitfodels, North Deeside Road, Aberdeen AB15 9YA on 25 July 2012 at 10.00 a.m.

Tender Offer Update.

Not sure about this at all.....

SMALL CAPS FOCUS: Sea Energy could be a steal as oil giants take up its surveillance equipment to monitor rigs remotely

By Ian Lyall, Proactive Investors

PUBLISHED: 11:03, 16 December 2013 | UPDATED: 11:50, 16 December 2013




http://www.dailymail.co.uk/money/investing/article-2524508/BP-Chevron-Total-monitor-North-sea-oil-rigs-new-remote-controlled-surveillance-equipment-Sea-Energy.html

SMALL CAPS FOCUS: Sea Energy could be a steal as oil giants take up its surveillance equipment to monitor rigs remotely

By Ian Lyall, Proactive Investors

PUBLISHED: 11:03, 16 December 2013 | UPDATED: 11:50, 16 December 2013




http://www.dailymail.co.uk/money/investing/article-2524508/BP-Chevron-Total-monitor-North-sea-oil-rigs-new-remote-controlled-surveillance-equipment-Sea-Energy.html

SeaEnergy's Return to Scene making waves with big oil

By Ian Lyall

December 30 2013, 12:00pm
Remote access: Not only does the system allow the collation of panoramic pictures taken from numerous vantage points on board platforms, there is also the ability to attach pictures of, say, corroded joints, or damaged equipment.


A sophisticated piece of software designed for crime scene management is proving a surprise hit with the owners and operators of North Sea rigs.

Return to Scene (R2S), which collates 360-degree images used by forensic teams for court presentations, is carving out lucrative niche with big oil.

It is also proving a huge boon for AIM-listed SeaEnergy (LON:SEA), which took control of the company 15 months ago.

Among its client list are blue chip companies such as BP, Chevron and Total that want to keep tabs remotely on the state of their rigs.

Not only does the system allow the collation of panoramic pictures taken from numerous vantage points on board platforms, there is also the ability to attach pictures of, say, corroded joints, or damaged equipment.

There is a facility to annotate the picture, while the product also segues neatly with much of the technical data held on the rig.

And there is also the capacity to run a 3-D simulation of work to be carried out or new installations planned just to make sure there are no physical impediments to the work not detected on the initial two-dimensional plans.

All this has the capacity to save oil companies significant sums of money.

It obviously costs thousands to fly individuals out to the middle of the sea, and often these visitors tie up bed space that might be occupied by vital members of the crew.

It seems a small issue, but frequent inspection visits of this kind cause untold disruption to the efficient running of the operation.

However, the larger firms see R2S more as a means of boosting safety.

As a system, it is versatile and easy to use, as might be expected of software designed to be operated by technically unskilled police officers rather than the force boffin.

In total, the group has over a dozen major oil and gas customers.

In the case of BP, it is thought the R2S visual asset management facility is used on around a quarter of its North Sea rigs.

It leaves SeaEnergy with plenty of headroom to grow with BP (and presumably all its other customers) as well as winning new mandates for the product.

Not just that, there are obvious uses for the technology in other remote locations around the world.

And as senior oil workers move to other jobs, so they are introducing their new employers to the system.

While the nation’s police forces have been slower to adopt R2S, there has been one fundamental upside to developing the system for crime-fighters.

That is the data encryption, which had to be secure enough to pass muster with the Home Office; in other words it is a very secure system.

This third party validation of the integrity of R2S obviously acts as a significant tick in the box for large multi-nationals worried about the safety of sensitive data.

The success of R2S has been behind an uptick in the fortunes of SeaEnergy, which also offers a maintenance and support service for offshore wind farms.

Alongside this it has legacy assets such as a 21.48% stake in Lansdowne Oil & Gas, a 40.21% interest in Iraq focused Mesopotamia Petroleum Company and a royalty interest in a number of North Sea blocks.

However, SeaEnergy’s financial transformation is allied to the R2S acquisition.

This year the business is expected to post revenues of £5mln (up from £900,000 12 months earlier) and analysts reckon it will break even.

According to the research house Edison, SeaEnergy will post sales of £7.4mln in 2014, producing a pre-tax profit of £1.8mln. And there is no end in sight to exponential this growth.

The last published results revealed the group had cash of around £5.4mln, which is the equivalent of 9.7p a share, while its stake in Lansdowne is worth £7.7mln, or 13.8p.

This means the current share price values R2S at £4.5mln, or a little over 8p a share, if you ascribe zero worth to the rest of SeaEnergy’s businesses and assets.

However, it is not quite as simple as I describe. One must remember SeaEnergy has to hand over the second, deferred payment for R2S of £4.6mln in the first half of next year.

This is based on achieving certain profit targets by February 2014 and would require R2S to report underlying earnings (EBITDA) of at least £2.5mln.

But even based on a total price tag of £10.1mln, the acquisition multiple of four times operating profit appears modest for such a high growth business, Edison points out.

SeaEnergy secures record first quarter order book for R2S

By Jamie Nimmo

February 27 2014, 10:12am
R2S's momentum has continued into 2014 with a record first quarter order book
R2S's momentum has continued into 2014 with a record first quarter order book


SeaEnergy (LON:SEA) enjoyed a successful 2013 thanks to increased demand for its offshore services from its North Sea clients.

The company, behind a technology called R2S (Return to Scene) that allows the remote control of oil rigs, said the R2S business achieved organic growth in the past year.

The division expanded internationally, completing contracts in the Gulf of Mexico and in Mexico itself.

The take-up of the R2S visual asset management service has been boosted by the introduction at the back end of last year of version 3 of the software, the company added.

The momentum, it says, has continued into 2014 and the company has secured a record order book for the first quarter, coming mainly from the UK North Sea, where it has deals with Total and BP.

R2S is on track to hit the final earn-out target for the year to the end of February.

The consultancy business has also made progress, SeaEnergy said, adding that it is in talks with a potential joint venture partner to bolster its position for tenders expected over the coming months.

Chairman David Sigsworth said: “In 2013 we achieved significant delivery across all of the strands of the strategy.

“The business has grown strongly, particularly R2S. Looking ahead, 2014 is set to be another strong year for SeaEnergy as we fully integrate R2S and grow our offering through each of our divisions.”

Trading Update

RNS


RNS Number : 0896B

SeaEnergy PLC

27 February 2014








27 February 2014

Trading Update

SeaEnergy PLC (AIM: SEA) ("SeaEnergy" or the "Company") is pleased to announce a trading update in advance of announcing its audited results for the year ended 31 December 2013, which are expected to be released in early April 2014.

R2S

Over the past year R2S has achieved organic growth and seen an increased demand for its services from a number of its North Sea clients. The business has also expanded internationally, successfully completing a number of contracts in the Gulf of Mexico and in Mexico itself. Further international expansion and roll out of the R2S technology is expected, with a number of existing clients already negotiating global framework agreements.

The take up of the R2S visual asset management offering has been boosted by the introduction, late last year, of version 3 of our unique software together with the launch of a user group for clients. A wider offering of managed services is also being studied at the instigation of existing clients.

This momentum has continued into 2014 and R2S has enjoyed a positive start to the year securing a record order book for the first quarter, coming mainly from the core business in the UK North Sea where R2S enjoys strong relationships with many oil and gas operators including Total, BP and Nexen.

As a result R2S is on target to hit the final earn-out target which covers the year to the end of February 2014.

Consultancy

The Consultancy business has made continued progress with existing consultancy contracts being extended and the range of services expanded. Our contract with DONG, the largest operator of offshore wind farms, involves developing a strategic approach to asset management and asset integrity management. Another contract, with the Carbon Trust Offshore Wind Accelerator, a group of nine international energy companies which include the world's largest offshore wind developers, involves developing a standard means of assessing performance of specialist offshore wind support vessels.

We are pleased to announce that Mark Stagg will join the consulting team as Director of Consulting next month. Mark has over eighteen years of experience in organisational learning, change management and workforce development.

Most recently, Mark has been embedded in the Maritime and Coastguard Agency leading the design and implementation of a major modernisation programme. Mark has also led the design and delivery of an industry-wide, knowledge and culture change programme aimed at senior executive level and, established the development structure for a National Oil Company that included leadership and behavioural competency frameworks. His extensive experience in organisational development and organisational learning will further expand the range of services we can offer.

The Knowledge Transfer Partnership announced last August has commenced and we are delighted with progress made so far. That project's objective is to develop operational and economic models to optimise life cycle cost of operations and maintenance strategies in offshore wind farms.

Marine

We continue to work with wind farm developers and turbine manufacturers in developing their understanding of alternative strategies for offshore wind farm operations and maintenance, and to make the case for the SeaEnergy vessel design. We are in discussions with a potential joint venture partner to strengthen our position in relation to tenders which are expected over the coming months.

The experience of the Ship Management team which joined us in the second half of last year adds significantly to the strength of our marine tenders. SeaEnergy Ship Management is actively seeking ship management contracts for third party vessel owners, and is in discussions regarding a potential joint venture arrangement which would secure their first vessels under management.

Outlook

SeaEnergy has enjoyed a successful year and we look forward to continuing this momentum. With the business being driven primarily by the impressive growth of R2S, our pipeline of potential contracts across all divisions is healthy. We have expanded our team and our knowledge base and our new product capabilities will allow us to leverage our core strengths to attract and retain customers.

Commenting on the update, David Sigsworth, Chairman, said:

"In 2013 we achieved significant delivery across all of the strands of the strategy. The business has grown strongly, particularly R2S. Looking ahead, 2014 is set to be another strong year for SeaEnergy as we fully integrate R2S and grow our offering through each of our divisions"

About time i got a bit of money back on this one........ still got a little way to go but heyho.,.

Wonder if this is going any further?
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SeaEnergy’s Return to Scene wins US$1mln Gulf of Mexico contract

By Jamie Ashcroft

June 18 2014, 8:09am
Return to Scene will ‘capture’ the Ku-S Central Processing Installation and bridge-linked satellite installations, in the Ku-Maloob-Zaap oilfield, in the Gulf of Mexico’s Bay of Campeche.
Return to Scene will ‘capture’ the Ku-S Central Processing Installation and bridge-linked satellite installations, in the Ku-Maloob-Zaap oilfield, in the Gulf of Mexico’s Bay of Campeche.


SeaEnergy (LON:SEA) subsidiary Return to Scene has won a US$1mln contract with Petróleos Mexicanos (PEMEX), Mexico’s national oil company.

Aberdeen-based Return to Scene will provide its ‘visual asset management’ system to model offshore oil and gas assets for PEMEMEX.

The system builds a virtual model of offshore installations – using high definition '360 degree' photography. This allows maintenance and performance data to be embedded, indexed and managed without physically visiting the offshore installations.

Today’s deal comes after Return to Scene carried out work for Mexican firm Petrotécnica, the company’s local partner, earlier this year.

Specifically Return to Scene will ‘capture’ the Ku-S Central Processing Installation and bridge-linked satellite installations, in the Ku-Maloob-Zaap oilfield, in the Gulf of Mexico’s Bay of Campeche.

It is anticipated that the images will be captured and integrated into the system during the fourth quarter.

"We are at a key stage in the development of the SeaEnergy Group and this is a very exciting time for us as we continue to grow our international presence,” said Bob Donnelly, SeaEnergy’s director for business development.

“We are delighted that the benefits of our technology and the efficiencies it allows for end users have been recognised by PEMEX.

“We look forward to continuing to cement and grow this relationship with PEMEX and our local partner, Petrotécnica."

Return to Scene has already worked with the likes of BP, Chevron, Total and ConocoPhillips in both the Gulf of Mexico and the UK Continental Shelf regions.

SeaEnergy wins two further ship management contracts

Fri, 08 August 2014

SaeEnergy's recently established joint venture GOSeaEnergy has secured two further ship management contracts.

The new deal will see the joint venture take over management of the Go Pegasus DP2 anchor handler, managed by Singapore-based Otto Marine, and the Go Electra DP2 multi-purpose support vessel, owned by RY Offshore Pte.

Operations director Mike Comerford said: "It is a busy and exciting time for us as a group and we are delighted to have increased the number of ships under management in such a short time frame."

The joint venture, which was created in June, enabled SeaEnergy to partner up with Singapore-based shipping company Go Offshore (GO) to manage GO's vessels in the UK and Europe.

As of 08:41 the share price had risen 5% to 31p.

Trading Update

RNS


RNS Number : 0895P

SeaEnergy PLC

14 August 2014










14 August 2014

SeaEnergy PLC

TRADING UPDATE





SeaEnergy PLC (AIM: SEA) ("SeaEnergy" or the "Company") the innovation-led offshore energy services business, is pleased to announce a trading update in advance of announcing its interim results for the 6 months to 30 June 2014, which are due to be released on 11 September 2014.



Highlights

SeaEnergy's growth trend continues, with new and extended contracts across all segments of the business in line with strategy.



R2S

SeaEnergy has seen continuing year on year growth in the use of the R2S technology, with an increased international dimension to the business. Teams are currently engaged on the photographic capture of assets in the US Gulf of Mexico and in Mexico itself, as well as in the UK North Sea. The R2S product has demonstrated its ability to deliver cost savings to clients across a wide range of energy industry projects including greenfield, brownfield and decommissioning, confirming its value throughout the full lifecycle of assets.



SeaEnergy now counts over 15 international operators as users of the R2S technology with Premier Oil the most recent operating company to become a client. Relationships with a number of international oil company clients are continuously being deepened and broadened, as additional facilities are captured in the UK and further afield.



After a record first quarter R2S activity returned to more normal levels in the second quarter as some projects were delayed and rescheduled later in the year. With a strong order book for the second half of the year driven by growing demand from the UK North Sea, US and Mexican markets and additional international potential, the trend for R2S to have a strong second half of the year is expected once again, with forecasts for the second half considerably ahead of the first six months of 2014.



Consulting

SeaEnergy's Consulting business has also been growing. The contract with DONG, the world leader in offshore wind, has been extended in scope and term, and now includes management of change aspects as well as technical elements in asset integrity management.

Following the restructuring earlier this year, Max and Co, the digital media agency, and R2S forensic operations are integrating well into the Consulting group, which continues to generate synergy opportunities across the Group.



Marine

SeaEnergy Ship Management Limited's joint venture with Go Offshore (Asia) Pte Ltd confirmed last week that it now has three vessels under management in line with growth expectations.



A further joint venture between GO and SeaEnergy is already actively tendering for the provision of SeaEnergy's unique, purpose-designed, dynamically positioned walk-to-work Service Operations Vessels (SOVs) into the offshore wind market. Demand for these walk-to-work vessels, in support of maintenance campaigns in oil and gas, is now also emerging in the UK North Sea and elsewhere.



Outlook

SeaEnergy continues to see growth across all aspects of the business. The momentum we have seen over the last few years shows no sign of abating with growth internationally, significant new contracts across all aspects of the business and a strong pipeline. These contributing factors mean the Group is well positioned to maintain this growth trajectory.



Commenting on the update, David Sigsworth, Chairman, said:

"We are delighted to be maintaining the growth path achieved over the past years, and are excited about international expansion opportunities for the business, and the realisation of synergies across the Group."



"The first half has clearly demonstrated the strategic benefits of our strategy. The three business divisions have all seen growth at different rates, but combine to ensure a strong level of growth at a group level."

2014 Interim Results

RNS


RNS Number : 3659R

SeaEnergy PLC

11 September 2014














SeaEnergy PLC

("SeaEnergy" or the "Company")



2014 Interim Results





SeaEnergy (LSE: "SEA"), the innovative energy services group, today announces half year results for the six months ended 30 June, 2014.



Highlights:



Operational



· Continuing growth in all parts of the business

· Increasing international activity

· Significant contract wins in Mexico, USA and UK for R2S

· Permanent Houston office established

· Expectation of stronger second half

· Ship Management JV signed and three vessels under management

· Consulting offering boosted by Max & Co and R2S Forensic after reorganisation



Financial



· Strong revenue growth across all businesses

· Turnover up to £3.6m (H1 2013: £2.2m)

· Loss from continuing operations after tax reduced to £0.2m for the first six months of 2014 (H1 2013: loss of £0.6m)

· Loss per share (basic and diluted) 0.43 pence (H1 2013: loss per share 1.10 pence)

· Group cash balance at 30 June 2014 of £0.7m after earn-out payment of £4.3m (30 June 2013: £5.4m)

· Group overdraft facility of £0.5m secured









Commenting on today's announcement David Sigsworth, Chairman, said:



"We are delighted to report this exciting acceleration in all of the Group's activities. Our continuing rapid growth, and particularly our international expansion, will continue to build shareholder value"

Trading Update

RNS


RNS Number : 2853W

SeaEnergy PLC

06 November 2014






Trading Update



SeaEnergy PLC (AIM: SEA) ("SeaEnergy" or the "Company), the innovation-led offshore energy services business, is pleased to announce a trading update in advance of presenting at the Mello Investor conference which is taking place in Derby between 6 and 8 November 2014.



Highlights

SeaEnergy's growth continues, with additional and extended contracts across all segments in line with strategy.



R2S

SeaEnergy's R2S Visual Asset Management technology achieved record turnover in the third quarter of 2014 and there is a strong order book for the remainder of the year and for the first half of 2015.



Demand remains high from operators in the UK North Sea, US and Mexico as well as new international markets such as Canada and Southeast Asia. It is anticipated that R2S will be adopted by at least one additional international major operator by Q1 2015. The timing of completion of individual projects may result in some of the orders that are expected to be delivered in 2014 falling into 2015.



Following the tender win to provide the R2S visual asset management system to the Mexican national oil company Petróleos Mexicanos (PEMEX) in June 2014, project delivery has been completed within the agreed timetable and the first payment under the contract has been received. The project comprised the spherical photographic capture of the Ku-S Central Processing Installation and its bridge-linked satellites in the Ku-Maloob-Zaap oilfield located in the Bay of Campeche, Gulf of Mexico and the subsequent build of a sophisticated interactive model of the assets within the R2S visual management system. A project of similar magnitude and complexity was also completed on BP's Na Kika platform in the Gulf of Mexico.



The benefits and efficiencies of the R2S VAM technology are now being recognised across the sector. For example, feedback from one major global operator identified the time and cost savings realised through the use of R2S technology on just two intervention campaigns on its North Sea assets of c. US$20 million. This operator has since deployed R2S in the Gulf of Mexico, where it has also recognised substantial savings, and we are working closely together to identify and deliver additional value from the innovative visual interface which R2S provides together with an extension into back-office services, providing continuing support. More broadly, SeaEnergy continues to work to enhance existing clients' use of R2S and increase both breadth and depth of the use of R2S to deliver similar patterns of roll out and savings, confirming its value throughout the full lifecycle of assets across the sector.



Consulting

Demand for SeaEnergy's Consulting business has also increased. A recent project with a top tier EPIC (engineering procurement installation and commissioning) contractor has involved consultancy on commercial and economic activities relating to offshore wind. There is potential for this to lead to an enduring relationship, to the benefit of both companies, In addition, the ongoing contractual relationship with the world leader in offshore wind, DONG, continues to flourish, having recently been further extended in duration and scope.



SeaEnergy's involvement in the public policy process was highlighted in September, following the Scottish Government's publication of a study conducted by SeaEnergy Consulting entitled 'The Fishing Vessels Conversion Opportunity Study'. This was undertaken on behalf of Scottish Enterprise and Marine Scotland, with the purpose to determine whether the Scottish Fishing Fleet could realise opportunities arising from the development of the offshore wind industry.



Demonstrating the synergy opportunities created by our Max and Co. digital media agency, SeaEnergy is currently working with Talisman on the production of a series of 3D overview schematics and associated detailed 3D visuals for a decommissioning project. As with many other projects, this contract is being extended in scope as the client sees the value of SeaEnergy's work.



Marine

SeaEnergy Ship Management (SEASM) currently has three vessels under management on behalf of its joint venture partner Go Offshore (Asia) Pte Ltd. SEASM has also recently responded to an invitation to tender for the ship management of a large dynamically positioned heavy lift and pipe-lay ship, operational in the Middle East.



SeaEnergy Marine, together with its joint venture partner, is also in the advanced stages of a tender process for the provision of SeaEnergy's unique, purpose-designed, dynamically positioned walk-to-work Service Operations Vessels (SOVs) for the offshore wind market.



Engagement

SeaEnergy personnel will participate in numerous events and initiatives in the coming months, providing engagement with potential clients, the wider market place and investors. These events include:

· Oil & Gas UK, Pilot Share Fair: 5 November, Aberdeen - Exhibitor

· Mello 2014, Investors and Companies event: 6-8 November, Derby - Exhibitor

· Offshore South East Asia (OSEA): 2-5 December, Singapore - Exhibitor & Conference Presenter (CEO, John Aldersey-Williams)

Outlook

The outlook for SeaEnergy is very positive: continuing growth is expected across all sectors, and with increasing access to international markets and synergies between business streams beginning to be realised, the company is well set for the move into sustainable profitability.



Chairman David Sigsworth said "As we head towards the end of the year, we are delighted that the Company is on track to achieve a profit before tax and non recurring items in the current financial year. With international growth under way, and by partnering with and serving some of the largest companies in the world we look to the future with confidence".

UPDATE - SeaEnergy on target for “sustainable profitability”

By Ian Lyall

November 06 2014, 11:35am
At the vanguard was the Return to Scene business (R2S), which collates 360-degree images from oil rigs.
At the vanguard was the Return to Scene business (R2S), which collates 360-degree images from oil rigs.


---ADDS SHARE PRICE---

Shares in SeaEnergy (LON:SEA) rose 11% after said it is set to move into “sustainable profitability” as it reported growth across all its business units.

At the vanguard was the Return to Scene business (R2S), which collates 360-degree images from oil rigs.

In an updated on current trading, SeaEnergy said demand for its services “remains high” from operators in the UK North Sea, US and Mexico as well as new international markets such as Canada and Southeast Asia.

It is expecting at least one international oil major to adopt R2S by the first quarter of next year.

However it also cautioned over the timing of completion of individual projects with some orders destined for 2014 falling into 2015.

SeaEnergy said it had completed a key project with Petróleos Mexicanos, the Mexico national oil firm.

Business won by the company’s consulting arm also increased.

A recent project with a top tier engineer raises the potential of an “enduring relationship”, while its tie-up with DONG, the leader in offshore wind, “continues to flourish”, investors were told.

Finally, the marine operation currently has three vessels under management and has been invited to tender for the contract to run a pipe laying vessel working currently in the Middle East.

Chairman David Sigsworth said: "As we head towards the end of the year, we are delighted that the Company is on track to achieve a profit before tax and non-recurring items in the current financial year.

“With international growth under way, and by partnering with and serving some of the largest companies in the world we look to the future with confidence.”

The stock, up just 4% in the last year, rose 11.45% in morning trade to 30.23p, valuing the business at £16.8mln

Sea Energy - Mello 2014


Click here

Simon T of IC - Buy at 30p, target 60p (Exploiting valuation anomalies, 18 Nov 14)

14 January 2015

SeaEnergy PLC

("SeaEnergy", the "Company")

CANADA CONTRACT WIN FOR RETURN TO SCENE

Return 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 360deg 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."

2015 Other News

14 Jan 2015 Image technology firm bags £525,000 deal in Canada – coverage of Return To Scene’s Canadian contract win in the Press & Journal

14 Jan 2015 SeaEnergy was delighted to welcome the First Minister, Nicola Sturgeon and Scottish Enterprise CEO, Lena Wilson to our offices on 14 January 2015 (courtesy of Scottish Government)

2 February 2015

SeaEnergy PLC

Trading Update

SeaEnergy PLC (AIM: SEA) ("SeaEnergy" or the "Company), the innovation-led offshore energy services business, is pleased to announce a trading update in advance of presenting at the Share Magazine/Cenkos Innovators and Investors Forum, which is taking place at the Business Design Centre in Islington on 3 February 2015.

Highlights

· Full year results set to be in line with expectations

· International growth across the business‎ continues with large contract win for R2S with supermajor in Canada

· Significant turnover increase in 2014 for Marine business

· R2S shortlisted for Innovator Award in the prestigious SPE Offshore Achievement Award

· Strong outlook for the start of 2015

R2S

SeaEnergy's R2S Visual Asset Management software/service continues to be the main engine for growth and achieved record turnover in 2014. There is a strong order book for the first half of 2015, and the newly-expanded business development team continues to drive international growth.

We were delighted to announce a significant contract offshore Canada for a new "supermajor" client last month, and our first capture team has already been deployed to this project. Securing a new international client is a very positive step forwards, and adds another very high quality name to our client list, which now includes four of the five supermajors.

Despite the recent fall in the oil price, demand remains high from operators in the UK North Sea, US and Mexico and we continue to see new enquiries from other international markets including Southeast Asia and the Middle East. We expect to see more international deployments in 2015 and are addressing strategies for local resourcing where appropriate.

As the operational benefits and cost efficiencies of the R2S VAM software/service are becoming widely recognised, we are increasingly seeing clients sharing R2S captures with their partners. These references strongly drive additional business development and help to attract new clients.

During the current period of oil price decline, many oil operators are looking to reduce costs and increase efficiency. Accordingly, we have been continuing to reinforce the very significant cost savings realisable through the use of the R2S VAM software/service and by strengthening the case for R2S VAM as a tool to plan decommissioning projects. Whilst we are alert to potential impacts on our pipeline of business, we have to date not seen any oil price related project cancellations or deferrals and have continued to receive new enquires and firm orders for operators already in cost-cutting mode.

SeaEnergy works closely with its clients to help them make the best use of their R2S imagery. This close working relationship generates the opportunity for identifying additional services that we can offer to clients and represents a development opportunity for SeaEnergy, where additional value can be delivered to clients; we are working hard to develop in these areas.

Consulting

The reorganisation that placed Max & Co (the digital media agency) and R2S Forensic within Consulting is beginning to bear fruit. The combined consulting team offers SeaEnergy's clients enhanced services, with Max's 20 years of expertise and experience in the offshore oil and gas environment adding value to the strategic consulting offering. The team offers additional services to complement the R2S software/service, again helping clients to make the best use of their wealth of complex data.

Turnover was a blend of recurring work from well-established clients across a range of products enhanced by the addition of prestigious and sensitive visual reconstruction/analysis work undertaken for the Hillsborough Inquiry.

As we move into 2015 our expectations are for this trend of recurring business to continue with further development of opportunities across the group.

Marine

SeaEnergy Ship Management (SEASM) continues to manage three vessels for Go Offshore (Asia) Pte Ltd., and is seeking additional vessel management opportunities. Turnover in 2014 has significantly increased over 2013, as it includes the revenue related to the vessels taken under management during 2014. The ship management business is currently profitable with three vessels under management; additional vessels will add to profitability.

SeaEnergy has participated in and reached the very late stages of the tender process with both of the operators to have undertaken tenders for offshore wind farm vessels to date. Although we have yet to secure an order, our vessel designs and concepts for wind farm operations continue to be attractive and competitive.

Legacy assets

We are aware of the continued decline in the market value of our interest in Lansdowne Oil & Gas PLC based on its share price, despite its successful farm-out of the attractive Midleton acreage to Kinsale Energy Limited. We remain confident that Lansdowne will achieve a farm out of its Barryroe discovery, and believe that following this event, its share price should recover and there may be an opportunity to commence our exit from this investment. We note that if the Lansdowne share price remains below our carrying value we will be required to make an impairment provision to the asset value of Lansdowne in our balance sheet, with a negative effect on the reported results for SeaEnergy. Any impairment provision would reverse in the future, as and when the Lansdowne share price recovers and would be treated as a non-recurring item.

Recognition and Engagement

We were very pleased to welcome Nicola Sturgeon to our offices on her first visit to Aberdeen as Scotland's new First Minister. In an extended visit, the First Minister learned about how the R2S VAM software/service supports clients across the oil & gas sector, and how its international growth, supported by Scottish Enterprise and Scottish Development International, is a model for Scottish companies.

We were delighted to announce that Return to Scene, the wholly-owned subsidiary comprising R2S VAM software/service operations, has been shortlisted in the Innovator Award category in the prestigious SPE Offshore Achievement Awards for 2015. This nomination illustrates the impact that R2S VAM has on offshore operations - reducing cost, minimising unproductive bedspace usage and optimising operational planning and safety.

SeaEnergy has signed a joint marketing agreement with Cyberhawk, the leading remote aerial inspection and surveying company, under which we can offer Cyberhawk's aerially-captured images as an enhancement to the standard R2S VAM offering. We have completed our first project with them, and have seen real benefits for clients in incorporating Cyberhawk imagery within the R2S VAM models.

SeaEnergy personnel continue to participate in a number of events and initiatives. In the coming months, these events include:

· Shares Magazine/Cenkos Innovators and Investors Forum, Business Design Centre, Islington, 3 February 2015

· "Lunch & Learn: Visual Asset Management technology for the Oil and Gas Industry: Its application in Insurance" - Lloyds of London, 17 February 2015

· SPE Digital Energy Conference, Houston, 3-5 March 2015

· ITF Technical Showcase, Aberdeen, 4 March 2015

· R2S Forensic V3 and User Group Launch, Glasgow, 26-27 March 2015

The Company expects to release its results for the year ended 31 December 2014 on 16 April 2015.

Outlook

The outlook for SeaEnergy remains very positive: the R2S VAM software/service is set for continuing internationalisation and growth, Consulting is deepening its relationships with clients to offer added value, and Ship Management is managing three vessels and seeking additional opportunities.

Chairman David Sigsworth said "We're very pleased to have achieved our expectations for 2014, and are looking forward confidently to continuing growth towards sustainable profitability this year and dividends in due course."

http://www.moneyam.com/action/news/showArticle?id=4969125

SeaEnergy CEO says upstream oil and gas sector presents ‘huge opportunity’

Mon, 2nd Feb 2015

John Aldersey-Williams, CEO of SeaEnergy (LON:SEA), speaks to Proactive Investors about the group’s progress in the upstream oil and gas sector and what to expect in 2015. It comes as the oil services software specialist stated its full-year results will be in line with expectations despite the recent fall from the oil price.

Sea Energy - Innovators & Investors Forum

Click here

05 March 2015

SEAENERGY PLC



SEAENERGY PLC ANNOUNCED AS FINALIST IN THE 2015 SCOTTISH EXPORT AWARDS


Aberdeen-based SeaEnergy PLC has been shortlisted as a finalist in the forthcoming BQ Scottish Export Awards to be held in Glasgow on 31 March. SeaEnergy has been nominated under the SME Exporter of the Year category.

SeaEnergy PLC delivers strategic and operational solutions to energy companies around the world. At the heart of the company is a common objective to identify, develop, and apply innovation that improves performance, efficiency, and safety.

It has been a busy start to the year for the company, which has announced two large overseas contract wins in Canada and the US, and now two nominations as prestigious award finalists since January.

The Scottish Export Awards, which are in their second year, are designed to recognise excellence, the achievements and export contribution of Scottish businesses, and to provide inspiration and encouragement for others to take forward their export potential.


John Aldersey-Williams, CEO commented:

"We are delighted to have been shortlisted among such diverse and high calibre companies. This nomination recognises the export achievements we have enjoyed across the group in the past 12 months and our plans for the future. It demonstrates the success of the ongoing internationalisation of the services we offer across the group. All business streams contributed to this achievement from our consultancy services including Max and Co, our media and design specialists, our marine team and, of course, our innovative R2S Visual Asset Management (VAM) technology."

SeaEnergy has exported its services to the US, Mexico, Canada, Iraq, Saudi Arabia, Mexico, Brazil, Mozambique, Holland, Hong Kong, Australia, mainland China and Denmark in the past 12 months alone.

Ends.

http://www.moneyam.com/action/news/showArticle?id=4989582

Suspect the SP says it all - it's windy here, and wind-farms appear to have Gov blessing...so where's the problem for former RAMCO ( DYOR) . . and their Directors?
I see one Dir has invested a little over £20k at about 24p -so that's almost dissipated, or dashed on the rocks ( ? ). doesn't look good . . . . far too small an amount and even worse the timing.... -OR- does that point to general incompetence, I wonder?.... although it might be bad luck, wind direction, foul weather, etc.