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.

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

.

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.