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Billions being spent on offshore wind if this company does not make it the bod are idiots. Split if up into 2 company's and give us a chance of shareholder value.
better value higher up the food chain imo: LOGP (or, perhaps, PVR)
I have been in here for2/3 years seen them change direction ,change name change personell....I have given up...can't see this doing a great deal over next few months - sold out and making money else where. I just don't see this doing anything...the best thing they could do is sell evrything and give money back to shareholders!!
Lets yo yo past 30p
News was around this time last year lets hope they have something this month.
No news no contracts same old sea adding shareholder value
Slow day today trades dried up must be due another push north soon
Resistance at 32p
Broken the 30p mark can see 35p by the end of the month
Plenty of trades today probably people seeing a undervalued company with plenty of cash and shares in logp worth the mkt cap on there own.
Strange another million shares bought an D it's down
Keep it going
At least it's moving in the right direction. Sp way to low.
nice buying this morning......
not really would love them to split the company in half and have and oil company aswell and use the logp shares to fund it or the royaltys they are going to get. Any decent sp lifting news before year end would be good.
deals for offshore wind vessels?
Would like to hear of a few more deals
Some new names here Got to be honest I am not sure re the Cash - Given we had 27million at H1 2011 and 25million at begining of 2012 I had assumed the Tender money was ring fenced prior to 2012 intrims (SEAs figs seem to rounded up or down to the nearest million lol) Looking back it was 21.9million less 6.9million, less RtS 5million = Cash of £10million (less fees n pay) Sorry for the error and of course you are right re CGT and possibility of offset John Aldersey-Williams - He got the job done with SERL - Time will tell Consider SEA as a good low risk play for LOGP - Look at the markets, we don't budge much. Its not just Barryroe, look at the LOGP Farm-Outs, a few potentials. Nice to read your posts
Agree with your macro take and would add geo-political (Iran amongst others) and socio-political (Eurozone backlash. Can't see the French accepting any austerity when the time comes ). I would make it 70/30 in terms of likelihood. I don't see the alternative. US, UK and eventually Euro will be printing real money(as opposed to QE) by the end of 2013. Read somewhere,think it was OECD report, that no European country would be in top 10 of countries in terms of GDP by 2020. Difficult to know where to park cash so as to avoid inevitable devaluation. Only share I hold that might be worth a look is RUR. Market has just about fully discounted potential return from arbitration. Bit of a punt of course......
Agree on macro view. I was one of the lucky few who made a mint in tech boom (remember those heady days of late 1990s?). I then felt forced to go very defensive (because not in job!) in 2001. Since then almost all my non property wealth has been in cash, and I have always had good reason to be nervous about macro-climate. Now worried about (like many others), inter alia, hard landing in China, US deficit reduction (perhaps even fiscal cliff), Euroland meltdown, pretty much all developed economy's (substantial) primary fiscal deficits, US and UK current account deficits, Japan's shockingly high debt to GDP....the list is very long...I rationalise continued over-priced equities (at least robust performance of DAX, FTSE and S&P) by (1) pricing off bond bubble, so the GSK and Vods of this market are priced - in part - off inflated bonds (2) the professionals running mega money under long only mandates cannot afford to be out of the market too much/too long..But, even with the say 30% possibility of carnage down the road, I see relative value in the small/micro caps e.g. DWHT at forecast EV/EBIT of perhaps as little as 5 or RGS at 6. Everything goes well (70% chance say): these may well be re-rated up to "norms" - 8-10 multiples. Everything goes tits up (30%), they suffer substantial loss but probably survive. Decent weighted outcome for me. DYOR but long in both!!
I think you are right about the cash position. I thought the 14m was post tender, but I was wrong. I will be watching SEA ever closer. Thanks. Have spent much of 2012 converting to cash ahead of euro meltdown, which must happen!?!?! I can't see a painless resolution, only a drawn out inevitability. I'm in the common AIMs oil suspects, BLVN, VOG, EOG, GBP, FRR, NTOG and RRL, all at about current levels and none above 10k. My largest holding, and biggest loss, is in TRP, where I'm down 30k with an average around 5.5p. Couldn't really recommend any of them and I regard them all as a bit of a punt on low entry levels. Like most private investors, I tend to sell a rise too soon and stick with a falling stock far too long. I have recently swapped a sass to a sips, seeing limited investment value in commercial property and will gradually move pf over to this, which means I will be taking a longer term 5-10year view going forward.
Good to connect with like-minded investor, Dave. Isn't SEA's current cash position south of £19m - £7m (tender) - £5m (RtS) - 3Q cash op losses, or £5m or so and therefore limited cushion? Also any value is in SEA management 's control to fund their business plans (sorry to labour point). SEA was one of my single largest holding (50k at peak) - bought when value from offshore wind crystallised and the share price collapsed into 25-27p range. Then tendered all my shares and surprised when all acquired. Bought a few since at around this level. What other oil stocks are you in? I have been playing around with SQZ (in at around 20p; mostly out just over 30p); PCI (in at 4.01p, pleased with that!); AFR (in around 80p, mostly out now) and the Ukrainian plays (RPT and JKX) where I am broadly even (was very up at one stage, but have lost on recent speculation!)
I agree with all you say and for me also the jury is still out on SEA management. Next 6 months will tell all. What I meant when I said I preferred SEA as my Barryroe play was that the downside risk is less, given the full value is not realised in the MC. Were the prospects in Barryroe to be downgraded for example, one might see the share price of LOGP half over night whereas SEA share price would still be supported by the c14m cash reserve and therefore is more insulated. PVR obviously is more than a one trick pony. My pf is already over-exposed to oilies and so SEA feels a safer bet. My guess though is that SEA will liquidate LOGP position before long. I say 6 months because I wouldn't want to see the cash burn continue as it is without any upside. Are you in SEA?
Agree, Dave, that we should not read too much into one day's action. At root, I think the justification to be in SEA is the core operating business they are trying to build (and the jury is out on that). Not at all sure that SEA is the best place to punt on the value of Barryroe. Typically, Providence as operator is in the preferred position - they largely call the shots/are in control. SEA is twice removed.. We are trusting SEA management to create value in the emerging core business with whatever emerges from "legacy" LOGP. What is SEA's management team's trackrecord? (I am long in both P and L, in case you are wondering!)
not sure how much can be read into the transactions as bargain conditions apply to most of the larger trades, I am surprised though that there are sellers at 30p when only a couple of months ago those same sellers could have accepted the 36p offer with no spread or fees. I still reckon that we may get some news before the year end on some LOGP deal.