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.

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.