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Aardvark...do you think someone is listening to our convesration, the price of SEA is rising up........Better not let BOPD know.....
Aardvark, but if I was renting your house, I would not rent it out for the cost I had bought it for( but there again you might live in Knightsbridge). If I was to get a return of 60-100% pa on my investement(R2S) in year two, with everylikelyhood of increasing income from the sale of its services, and no more payments from the original company I would be rather happy .
I'm glad you don't value my house!! £7-8mln? They bought it for £10.1mln, and since then, growth has been huge, their list of blue chip clients ever expanding, and their contract size increasing impressively. I would say a conservative valuation is £20mln with the possibility of considerably more if an oil company just wanted it for themselves.
Afternoon Aardvark, great minds think alike ! RE R2S my calculations based on 2013, £4.7million , and expansion into Gulf of Mexico and Greek tie up, along with its USP, conservatively 7-8 million, but that is a conservative, per yesterdays statement that stated "In recent years the typical project size for R2S has grown with the value of the typical “large” projects growing from £50,000 to £500,000. Other international expansion opportunities are under review, driven by client requirements and taking account of the risks and benefits of doing business in different regions." If I was to Ramp , which of course I would not, I would estimate £10million plus, and even then this could be conservative.. BOPD are you awake yet ?
Hello Gus. Despite the reaction of the sp, I was impressed with the results. The directors are doing exactly what they said they would do, and the other areas have a low capital committment for a high return, should they come to fruition. The growth and revenue trajectory is impressive, and I too will buy more for my ISA next week. How much do you think R2S is now worth?
BOPD.....I picked up some shares far too cheaply than I could have hoped for..Did you? Please keep on deramping until the 9th April please, when I will top up more with my new ISA
Aardvark /Gus Any comments now?? I will repeat.....read the reports carefully.....buy at -30 sell at 36 to be safe a little interest here today so maybe a move in the morning
StockMarketWire.com Sea Energy's (LON:SEA) shares were down by more than 10.3% in late trading despite higher full-year revenues and lower pre-tax losses. Pre-tax losses narrowed to £0.8m - down from £2.4m last time - while revenue rose to £5.1m, up from £0.87m. "The earn-out of R2S demonstrates the value this important element of the business has delivered and we are pleased to have seen the company grow in line with strategy, here in the UK and internationally," the company said. "The Consulting Division has also expanded during 2013 and the addition of the Ship Management team has broadened SeaEnergy's capacity in the Marine space. We look forward to 2014 which is set to see us move into profitability."
SeaEnergy (LON:SEA) said business across the group is growing strongly and it is targeting an overall profit in 2014. Return to Scene (R2S), acquired in 2012, which can deliver 360-degree images and model building capacity for offshore rigs, was the strongest financial contributor - adding £4.7 million to group turnover last year - and continues on an upward growth curve. Earnings at R2S have exceeded expectations, resulting in the former owners earning the maximum payment under the earn-out terms of the acquisition and a payment of £4.6mln will be made in the next few weeks, the firm revealed. Further growth in the business is anticipated in 2014 as the firm expects to see an increase in the number of projects undertaken. Recently, the typical project size for R2S has grown with the value of the typical "large" projects growing from £50,000 to £500,000, it said. In the marine business, the firm recruited a ship management team last year, which is already contributing revenue. The business's speciality is ensuring that vessels are correctly crewed with appropriately qualified crew members, and tendering activity has already been seen in 2014, and is expected to increase as new offshore wind farms begin to be delivered. SeaEnergy revealed on Wednesday it is in joint venture talks with a vessel owning and operating company, which includes collaborating on "walk to work" opportunities through the provision of specialist vessels equipped with motion-compensating gangway systems. The company is targeting offshore wind farm owners with this solution. Meanwhile, the consulting division has continued to grow, adding new clients and extending existing relationships. It has also recruited a new director of consulting, Mark Stagg, and additional staff and associates from the UK, the US and Greece. The loss for the year to end December narrowed to £0.8mln from £2.4mln in 2012, while operating expenses reduced further to £2.2mln from £3.1mln. The group had cash of £4.7 million at the end of the year (2012: £5.5 million). Chief executive John Aldersley-Williams said: "The company continues to progress in delivering the strategy we set out in 2012. "Strong growth continues in R2S and the Consulting and Marine divisions are now generating increasing revenues and identifying synergy opportunities. "When negotiations are concluded, we expect the joint venture to accelerate the rapid growth of the marine business."
ARRRHHHH wrong forum..should be on QPP...sorry
Classic tree shake , plus some PIs following Doc Holiday attempted short......Some nice bargains been had by the institutions and savvy PIs
This is a company I like, and hold in my long term portfolio. Its shares are down 7% to 36.75p this morning on publication of results for calendar 2013. My initial reaction on reading the results was that the announcement lacks sparkle. There is a lot of investor interest in one subsidiary company called R2S, and I've been to a couple of company presentations, where the potential for the technology is obvious. It is growing fast too. The problem is that the success of the R2S subsidiary is currently being obscured by the other, less exciting ventures that the group has undertaken. My feeling is that more shareholder value would be created by hiving off all the other bits, and just having R2S as a standalone company, which would then have clean, profitable figures, and would be put on a growth multiple by the market. Bundling it together with some other rather unconvincing projects, which are currently loss-making, seems to me a negative. Note that the cash pile of £4.7m is ear-marked for paying the remaining earn-out to the vendors of R2S, of £4.6m, so it will really be cash/debt neutral. There is also a nagging doubt that those vendors are motivated to have a spectacularly good year this year, to earn the maximum, but perhaps not so highly motivated thereafter? I have a nagging doubt about future dilution too. The legacy asset of 21.5% stake in Lansdowne Oil & Gas (LON:LOGP) has been steadily declining in value too. These shares received a big boost from an excellent article in the Investors' Chronicle a few weeks ago, which propelled them from around 30p to over 40p. I think I'll wait for that froth to disappear before considering a top-up here. However, I very much like what I see as the core business, R2S. It takes detailed 3D photography of assets such as oil rigs & ships, then integrates those images with the maintenance records. This has many benefits for the operator of the asset, and seems to be a niche they have to themselves. So overall, I like it, but am not in any hurry to increase my position here. - See more at: http://www.stockopedia.com/content/small-cap-value-report-2-apr-2014-cup-csg-reg-sea-anp-srt-82417/#sthash.WS5Yso3r.dpuf
Look good, particulary regarding ;- i. R2S ....." We are very pleased that R2S accelerated its sales growth during its first full year within the SeaEnergy Group. R2S sales, which are dominated by photographic capture and model building, contributed GBP4.7 million to SeaEnergy's turnover in 2013.This growth in sales and R2S profitability, which is continuing into 2014, has resulted in the former owners earning the maximum payment under the earn-out terms of the acquisition. ..........There is an increasing international demand for the R2S photographic capture and model building services. During 2013, SeaEnergy opened an office in Houston, Texas, to service the Gulf of Mexico market. This office delivered projects in Mexico and the US, including R2S's largest project to date on the BP-operated Thunder Horse Production, Drilling and Quarters facility - the largest facility of its kind in the world. We expect to see growing activity levels in the Gulf of Mexico during 2014, as well as potential for additional international expansion in response to client requirements. " ii. Consulting ...... "The Consulting division has continued to grow during 2013, adding new clients and extending existing relationships. In addition, it has added capacity by recruiting a new Director of Consulting, Mark Stagg .and additional staff and associates from the UK, the US and Greece.The division is focussed on high-level strategic work. For example, our assignment with a world leader in offshore wind, involves helping them to develop an integrated approach to asset integrity management across its fleet of wind farms. This involves strategic support, technical input, implementation of international standards and management of change. SeaEnergy is delivering a high quality service across the client and this has resulted in the contract being renewed and extended in scope.The Consulting division also secured a project from the Carbon Trust Offshore Wind Accelerator ("OWA") - a group which comprises nine international energy companies including DONG, Eon, Mainstream, RWE, Scottish Power Renewables, SSE, Statoil, Statkraft and Vattenfall - under which we are developing standardised measures for assessing the performance of offshore wind support vessels and will be evaluating OWA-supported wind farm support vessels according to these measures. " iii. Reduced costs ... Financial highlights: -- Loss for the year of GBP0.8 million (2012: loss of GBP2.4 million,). -- Progress towards breakeven shown by half year analysis: first half loss of GBP0.6 million, second half loss GBP0.2 million -- Operating expenses further reduced from GBP3.1 million to GBP2.2 million. -- Loss per share 1.45 pence (2012: loss per share 3.82 pence). -- Net assets at 31 December 2013 GBP17.9 million (2012: GBP18.7 million). -- Cash position at the end of 2013 of GBP4.7 million (2012: GBP5.5 million). "
Check the charts ...you can see when the man buys big 28/30. Sells at 25% up. the only other influence that comes into the picture is IC buy reports. You can check that also
Depends what level you are in at This will slowly drift down.If it gets to 30 expect a jump back up It will settle in the 35/36 range
So what point are you making, if any?
Sorry error : the cap now is 22m not 32m up abt 15% on 2011 value but shares up 50% ???
When the founder ,and still significant shareholder Remp left the SP was 27.25 and cap was 19m.Today it is just 32m. Figure that Remp buys at the below 30 level A sale almost went thru at 36 but buyer got cold feet. Check the statements that are being made
Aardvark, I totally agree with you. I even ran the message backwards to see if there were any hidden messages in it, and I could not find any
You were completely wrong back then, and will be completely wrong again.
Re read my message 24th Feb same guy will make the same guarded message
Waiting to see if CEO John Aldersey-Williams optimism will be reflected in the results later this week, particularly relating to the order book http://www.proactiveinvestors.co.uk/companies/stocktube/2584/seaenergy-says-growth-trajectory-will-continue-in-2014--2584.html My assessment is YES, particularly with R2S
Not read it yet - work all night, bed most of the day but will have a look in a bit hopefully. I do agree though, should add a bit of a tailwind here. All looking good at the moment...
SJ have you read the articles in the FT and Telegraph this morning at pages 9 and B5 respectively ? It is clear the Wood report on maximising production is being followed . Link to actual report http://www.woodreview.co.uk/ Me thinks IC may have to review and uprate target price for SEA
Well, that article certainly puts a little meat on the bones. Nice find, ta. Tarquin, you presume incorrectly I'm afraid. It was sold to Repsol in 2011 - its on the co website.