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.

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.