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Not a lot of support for upward push...
Very kind. I 'm in none of those. I will research. Thank you
The list is long, and these examples are not necessarily the most interesting (but the ones that come to mind immediately): Argo is both; Titon is well known net net; Cambria Africa and Phaunos are both funds on steep discounts; AGTA seems headed towards substantial discount to cash; many biotechs are below cash (ASM is interesting because so little cash burn).....
I'd be grateful for a few names to research if you didn't mind sharing
I should have written apologies
Though LOGP and Providence are not that correlated either. I have no mkt cap >= 2* cash opportunities up my sleeve, but there are plenty of collective vehicles on steep discounts to NAV and a fair few net nets.
I take your point. I think I'm right in saying the book cost of the LOGP position is c£4m and so a sale would give rise to a CGT liability on c£14m. Of course that only arises upon a sale and I think we have trading losses to carry forward to offset. I'm no accountant, but I still feel pretty comfy in SEA. It is one of my larger positions and feels a safe way to play the LOGP potential. Strange though how the share price movements of SEA and LOGP don't correlate more obviously. If you have other positions with a cash or cash equivalent at anything approaching twice market cap please share
No, Dave: my beef was with idea that cash plus LOGP stake >= 2* mkt cap; mkt cap is not at a significant discount to cash plus LOGP because cash pile largely depleted. That leaves LOGP stake (net of tax, a little more than current market cap) plus RtS
are you not ignoring the stake SEA hold in LOGP, which exceeds the market cap in value?
cash mostly consumed now on RtS purchase and share tender (both post interims)
Look like the market expected the RNS, but didnt know the contents - hence our lift the other day After reading the information I remain bullish, but I would like some timescales identified and greater clarity re tenders etc. We were not notified about the request for information, regular release of info will help us lift
There is a massive farm being built east coast next to the 3 already there 1 recently finished. The small ones cost 1 bill each think the big one is going to cost 10 bill would be nice to get a slice of that action.
Crazy really as you say valued at 50% less than cash and assets Feel very safe here - even if the company is wind(sic)ed down we get double our money
This should hit 50p easy if the news about the project is good and more news to follow next month
Worth double the mkt cap without any if the business in there a steady rise for the rest of the year.
Offshore wind farm O&M vessels The market for vessels to provide accommodation and access for technicians working on offshore wind farms continues to develop, with strong and specific expressions of interest received from both wind turbine manufacturers and wind farm developers. Over the past weeks, SeaEnergy has received a formal pre-tender Request for Information ("RFI") from a turbine manufacturer for a project and notification of another RFI to be issued imminently, as well as enquiries from two others. We are also responding to a request for a full logistics scope, including vessels, logistics support, and O&M strategy from another turbine manufacturer and have other enquiries pending. We are very encouraged that the SeaEnergy O&M solution is attracting significant attention from a number of interested parties and we believe that we are world leaders in defining the industry standard in this sector. We are currently compiling priced proposals including detailed commercial terms in response to the formal RFI, which we expect to lead to a full tender over the coming months. SeaEnergy is now in advanced discussions with a major vessel owner and operator to finalise the scope of a Cooperation Agreement that will strengthen our offering in this area, combining the financial and operational capacity of our partner with SeaEnergy's detailed designs, strategies and technical understanding of the requirements of offshore wind farm operators. Legacy assets It remains our plan to realise the value of our legacy oil & gas assets over time and, unless compelling investment opportunities exist within the Group, to return a proportion of that realised value to shareholders. We note that Lansdowne Oil & Gas plc successfully raised £10 million in the markets earlier this year, and as a result, our holding has reduced from approximately 25% to just over 21%. The current value of this stake is £17 million per the closing mid market price quote on AIM on 27 September 2012 and has a historic cost net book value of £4.3 million. The appointment of John Aldersey-Williams to Lansdowne's Board, where his experience in generating and realising value from exploration assets will support Lansdowne's current strategy, demonstrates the importance SeaEnergy attributes to maximising the value of these investments. http://www.investegate.co.uk/Article.aspx?id=201209280700253855N
For the extra work they should be telling us about by the end of the week
Check out LOGP volume today AT "and the development within the group of additional business services for the energy industry, we are making good progress on this front and expect to be able to update shareholders at the time of our interim results in late September, if not before" Still think its LOGP that will be our catalyst
They have said that they will release some news by the end of the month so. This could be the reason for the rise in anticipation. Still way under valued.
Sorry, don't have any great insight. Posts earlier this month on this BB from sstarski, baz and stockraiser were interesting and might be worth a read. I have been here a while and like stocks, such aas this, where the asset value limits the downside risk
assuming it is one source accumulating, then we are due a notification. Still wonder if it's related to the Bertram resignation. Anyway, I think we are due some interesting news. Sale of some of LOGP stake? I'm only guessing.
another couple of large buys. Someone likes this share.
couple of large transactions on here and LOGP today. Something is going on.....
Yep, does make you think! LOGP has a number of catalysts for upgrade soon, but also has a long way to go before its cash generative. I wouldnt be surprised to see LOGP go alltogether to a bigger irish fish
yes, Bertram holds a lot more in SEA. I was thinking more about directorships and why he might have resigned without a normal notice period. It made me think that maybe a sale of our stake in LOGP was more imminent than I had otherwise expected. Of course it might mean nothing of the kind.