George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
SeaEnergy have demonstrated the progress made in building a business capable of delivering sustainable profits, with revenue +65.7% year-on-year, and at the operating line (before exceptional items) of being in profit in the next quarter with the year end results. SeaEnergy's R2S Visual Asset Management technology achieved record turnover in the third quarter of 2014 and there is a strong order book for the remainder of the year and for the first half of 2015. R2S is the key driver of profitablitly accounting for approx. 80% of revenues. Based on the acquisition price of £10m, the acquisition multiple of 4x EBITDA appears modest for such a high growth business. The company’s equity is being seriously undervalued on the above alone. There is also the legacy oil and gas asset (LOGP) where every 2p share move on LOGP share price equates to 1p on SEA. Following the todays RNS on the ruling in favour of Providence Resources v Transocean of which Lansdowne fully provided for the claim means LOGP can now make positive adjustment to their accounts. It also appear that Providence are shortly to be in a position to update shareholders on the Barryroe farm out process. This is all positive news for LOGP and should see their share price rise which will reflect on Sea-energy's share price. Of course disposal of this oil asset will also help reduce the gap between the market value and their asset-based valuation. A lot can change in a few weeks and I now move my neutral stance to buy. which I have done. Merry Christmas
http://www.brrmedia.co.uk/event/132306/john-aldersey-williams-chief-executive
I agree with everything Thompson says, hence why I have invested in this stock. He is completely right that in this depressed market it is a great buying opportunity but will AIM investors see the potential for a great return on their investment prior to full year results next quarter that will show profit. My guess is not! there is to much herd mentality on AIM chasing rainbows rather than investing in clear fundamental that screams 'Profit'.
Simon Thompson of Investors Chronicle today rates this as a BUY: 'Clearly, investors are worried that with the oil price under pressure then this will impact on demand for SeaEnergy’s services. However, this completely misses the point because if anything the need to keep costs down intensifies when the oil price is low and R2S offers a cost advantage to operators whereby they can monitor rig activity without making expensive offshore visits. Moreover, when SeaEnergy released its trading update early last month the company reported R2S had a strong order book for the rest of the year, and for the first half of 2015 too. The oil price had already fallen 29 per cent from its June high at that point, so if major oil operators were going to start deferring investment decisions then that process would have already begun. SeaEnergy may be unloved, but there is no getting away from the fact the company’s equity is being seriously undervalued. And with upbeat full-year results expected to be released in the first quarter next year, I view the current depressed valuation as a buying opportunity.'
Company on track to achive profit for year end. Recurring revenue should close gap between current share price and sum of part evaluation of approx 45p. However SEA do attribute value to the legacy asset of Lansdowne Oil and for this reason it is hard to give this share a strong buy rating while LOGP slumbers. To this end LOPG need to rise to approx 12p for this share to be a value for money share. Do hold a small investment in this share but only recommend a neutral stance at present. One to watch maybe.
an credible forecasts on core business here?
I note. SEA only hold as a legacy asset as they pulled out of oil investment a while back. So it is a bit extra on the side, the bonus if you like, albeit a small one at present. Still only paper loss at moment.
..
Should bring a good return next year.
Lansdowne Oil & Gas plc share price rises of which SEA has a legacy asset of some 5.4 million and have stated they plan to return a proportion of that realised value to shareholders and share price goes down. Hard to fathom share price movement sometimes.
As we head towards the end of the year, we are delighted that the company is on track to achieve a profit before tax in the current financial year. With international growth under way, and by partnering with and serving some of the largest companies in the world we look to the future with confidence," said SeaEnergy Chairman David Sigsworth (full stop)
High tide expected. Looking good.
The time is nigh
Nice little rise in Lansdowne Oil & Gas plc of which SEA has a legacy asset of some 5.4 million. As stated in their interim results "It remains our plan to realise the value of our legacy oil & gas assets over time and to return a proportion of that realised value to shareholders. "
six months ended 30 June, 2014. Highlights: Operational · Continuing growth in all parts of the business · Increasing international activity · Significant contract wins in Mexico, USA and UK for R2S · Permanent Houston office established · Expectation of stronger second half · Ship Management JV signed and three vessels under management · Consulting offering boosted by Max & Co and R2S Forensic after reorganisation Financial · Strong revenue growth across all businesses · Turnover up to £3.6m (H1 2013: £2.2m) · Loss from continuing operations after tax reduced to £0.2m for the first six months of 2014 (H1 2013: loss of £0.6m) · Loss per share (basic and diluted) 0.43 pence (H1 2013: loss per share 1.10 pence) · Group cash balance at 30 June 2014 of £0.7m after earn-out payment of £4.3m (30 June 2013: £5.4m) · Group overdraft facility of £0.5m secured
Its actually 60p, but I take your point. Having read the article, I disagree with his valuation of R2S. He says its worth £22.5mln (40p per SEA share). I think its worth double that.
Is predicting a fair value target price of 80p...loads of potential here..!!!!
Thanks bopd. So your job is to talk it down until the mystery buyers can load up at the Remp level? or do you mean looking for gas at 7H? Or do you make it up as you go along? I dont quite know how anyone will buy any size in this. I tried to buy 20k at 33p for most of the afternoon, and didnt get any. Its just too illiquid.
is going to drive this business forward, didn't anyone wonder why Louise Warner increased her already significant shareholding? One thing about significant shareholders is that they are kept informed of developments, unlike us insignificant shareholders :)
Only a reinstatement of the old order will see this one move significantly upwards
Gus; Is the penny slowly dropping now ? Incidentally ship management is very low margin for major hassle. I am beginning to think these guys have lost their way and are chasing rainbows
It will breach the 40p level this time? Looks like they are moving forward!
2 new ship contracts http://bit.ly/XL2hT4 announced today Earlier in the week the share price went down,yesterday it was announced a large shareholder buys more shares and now todays news.......
SEA announce that its recently established joint venture (JV) GOSeaEnergy Ship Management Limited (GOSEA) has this week been awarded the ship management of two more vessels. GOSEA was established in June 2014, as a JV between Go Offshore (Asia) Pte Ltd. a Singapore based shipping company and SeaEnergy Ship Management Limited, the latter holding a 51% share. The first vessel, the newly built Go Pegasus, is a DP2 anchor handler (AHTS), owned by the Singapore based Otto Marine Limited (Otto). The Go Pegasus is flagged in the Marshall Islands and will shortly arrive in the U.K. where it will be operating under charter and deployed on ploughing activities in the western UKCS. The vessel has a crew of 20. The GOSEA team is responsible for the full management of the vessel's crew, provisions and technical support. The GOSEA team have also taken over the operational management of the Go Electra, a DP2 multi-purpose support vessel is owned by RY Offshore Pte Limited. It is currently operating under charter for Harkand ISS and is carrying out ROV surveys and air diving operations, primarily in the North Sea. The vessel which is flagged in the Marshall Islands has a crew of 21. Mike Comerford, Operations Director for SeaEnergy PLC, commented: "It is a busy and exciting time for us as a Group and we are delighted to have increased the number of ships under management in such a short timeframe. We have had excellent feedback from the companies chartering these vessels - a credit to the wealth of experience of our team at GOSeaEnergy."