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.

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 ?