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R2s a system with the ability to diversify. http://www.investegate.co.uk/seaenergy-plc--sea-/rns/r2s-event-showcases-next-generation-of-technology/201503260909225365I/
Only three weeks to go for the Company to release its results for the year ended 31 December 2014 on 16 April 2015, namely: · Full year results set to be in line with expectations · International growth across the business‎ continues · Significant turnover increase in 2014 for Marine business · R2S Visual Asset Management achieves record turnover in 2014 with strong order book for 2015
it's a safe stock to be in, but patience like any good growth share will be required. It has had a checkered history starting of in oil in the 90's and then renewable energy which they sold in 2011, so the New service-focused strategy adopted in 2012 make it a young company if that makes sense. They are moving into profit because of the change in direction primarly due to : 2014 R2S Earn-out target exceeded 2013 SeaEnergy Ship Management business launched 2012 R2S acquired Consulting business started New service-focused strategy adopted The year-end accounts will show that SEA is in a good financial position meeting expectations with record turnover. If there is a blot on the landscape it is their legacy asset of 18% interest in Lansdowne Oil & Gas plc which will create an impairment charge. There is plus point in that terms for the farm out of Lansdowne Oil's project has been agreed and when complete will provide approx 5 million to Sea. Not sure how the market will take the impairment charge at year end, although SEA have put this news in the public domain so would expect it to be already factored in. As I stated as an illiquid stock the price can and will fluctuate on small volume, but long term prospects are healthy and so the Share price should continue it northward journey albeit on a head and shoulder basis.
Just seen post of March 13th. Many thanks, I have just put the revolver back in the drawer. Love this company but driven crazy by the fall in the share price just when they seem to be getting some sales momentum going. Your analysis seems reasonable to me, lets hope you're right.
SEA down 9% down on very, very low volume only 17k sold and 6K buys. So why the movement? I guess many will say that because SEA is neglected, ignored and much unloved it is relatively illiquid. To me Illiquidity seems to be a modern, and in my opinion irrational fear born out of electronic markets, and instant decisions. I would counter by saying from my experience the less liquid a stock is, the better it will perform in the long run, compared with more liquid stocks. The trick is to be patient., but I think patience in the market has been lost with the electronicization of markets. If I had to guess, I would say most will continue to disregard illiquid assets. It is because of this some incredible bargains exist in illiquid assets. For example My example above isn't fabricated out of nowhere, companies like this exist. For example, SEA at a share price of 28p values the business at £16m, of which £5m is represented by the legacy stake in Lansdowne Oil & Gas. So that leaves us £11m for R2S, assuming the Consulting and Marine divisions are worth zero (being the unproven divisions). R2S produced EBITDA of £2.8m during the 12 months to February 2014. Subtract approx £251,000 depreciation and amortisation cost, and then tax at the standard 20% rate, I get earnings of £2m. On that basis, R2S on its own seems to be valued at 5.5 times earnings (i.e. £11m divided by £2m). That is a bargain in my opinion. I believe every small investor should have at least 30% of their portfolio in illiquid stock, mine is 50%. One parting thought, for most investors, who aren't wealthy hedge fund managers, their house is their largest asset. For the most part houses aren't liquid assets, but most investors aren't panicking that they can't sell their house at the click of a mouse. Maybe we should approach our investments as we do our house, realize they have value, but that we don't need to sell it instantly.
The announcement of a placing made earlier today by Lansdowne Oil & Gas plc ("Lansdowne") and confirms that SEA did not participate in the placing. As a result its shareholding in Lansdowne remains unchanged at 30,194,193 shares although its percentage holding will be diluted to 18.72% once the placing shares are issued on 12 March 2015.
SEAENERGY PLC ANNOUNCED AS FINALIST IN THE 2015 SCOTTISH EXPORT AWARDS. Although not a fan of awards, I suppose it does give the company additional exposure. Now all they have to do is win it - COYS
Nothing untoward in Change of Nominated Adviser and Broker. Just Oriel Securities Limited ("Oriel") their nominated adviser has been transferred following acquisition of Oriel by Stifel Financial Corp. That said, Stifel Financial Corp is a mega big broker: http://www.stifel.com/ with Seaenergy coming under the wing of Stifel Nicolaus Europe Limited: http://www.stifel.com/Institutional/StifelEurope. This change should also provide exposure and access to the US markets and hopefully 'Stifle' will provide a little more coverage on Seaenergy than seen to date.
SeaEnergy will be landing with their lethal weapon of choice 'the R2S' at the SPE Digital Energy Conference, Houston, 3-5 March 2015. Programme attached: http://www.spe.org/events/dec/2015/documents/15DEC-ConferenceProgram.pdf
For info - presentation at Lloyds of London onVisual Asset Management Technology for the Oil & Gas Industry; Its Application in Insurance http://www.seaenergy-plc.com/downloads/presentations/R2S%20Lloyd's%20Lunch%20&%20Learn.pdf Interesting to see within the presentation, the map indicating the expansion for R2S within the next 12 months.
The current 28p share price values the business at £16m, of which £5m is represented by the legacy stake in Lansdowne Oil & Gas. So that leaves us £11m for R2S, assuming the Consulting and Marine divisions are worth zero (being the unproven divisions). R2S produced EBITDA of £2.8m during the 12 months to February 2014. Subtract approx £251,000 depreciation and amortisation cost, and then tax at the standard 20% rate, I get earnings of £2m. On that basis, R2S on its own seems to be valued at 5.5 times earnings (i.e. £11m divided by £2m). Given the Strong outlook for the start of 2015, this looks an underappreciated and undervalued stock, and is still at a bargin price.
Thanks Mayfair; you are a mine of info; obviously you really research the company; I am now an Investors Chronicle convert and what Simon Thompson says goes. ! I shall scrape up some money to but some more before the updates. Whoever makes small tough cameras must be minting it too; they are in use everywhere , mainly for security but also for maintenance.
Church Roof you say! Well SeaEnergy are into this from an aerial perspective. They have recently signed a joint marketing agreement with Cyberhawk, the leading remote aerial inspection and surveying company. They are providing Cyberhawk's aerially-captured images within the R2S VAM Models. Would not surprise me to see SEA upping the stake on Cyberhawk http://www.thecyberhawk.com as to me it appears a complimentary fit. Still one thing at a time - SEA profit announcement first - roll on April 14 (year end results)
So all sorts of applications....we could do with something similar on our church roof; just had all the lead lifted. Very interesting possibilities; hope the prices are competitive. Thanks Mayfair. I have just bought some more SEA today from the scraps remaining after COMS had a board room melt down.
Of course SEA's R2S is still in the forensic sector and will be presenting the R2S Forensic V3 and User Group Launch, in Glasgow, 26-27 March 2015. A little about the set up on the attached link: http://www.r2scrime.com/index.asp
When R2S started out in the forensic sector it could only be used with one particular type of camera which was restrictive as it tied them to one camera vendor. SEA have worked on software upgrades which now allows for additional cameras to be used allowing R2S more flexibility. A variety of cameras now produce high quality 360˚ spherical images which create a walk-through environment and allows a quick assessment of an area or equipment.
Enjoyed that video ! They must plaster whatever they are monitoring eg an oil rig, with cameras? These would need to be pretty hardy little things..
Try this :https://vimeo.com/48458292
This gives a flavour of the R2S product, while this video shows the product in action. https ://vimeo.com/48458292
And just to endorse Saint Simon of the Chronicles. ".....Buy at 35p, target 60p......" 09Apr 2014
Visual Asset Management Technology for the Oil & Gas Industry; Its Application in Insurance Tuesday 17th February 2015, 12.00-2.00pm, The Old Library, Lloyd’s of London Presentation Download the presentation
Your correct Wishful IC - A profitable passage "Shares in Aberdeen-based small-cap energy services company SeaEnergy have been making waves since I initiated coverage earlier this year ('Making waves', 20 February 2014).... I still believe that my 60p a share target price is a realistic goal, assuming of course the earnings recovery takes hold"
According to last years Investors Chronicle...this is what the SP target is;
Video in which John Aldersey-Williams, CEO of SeaEnergy (LON:SEA), talks about the group’s progress in the upstream oil and gas sector and what to expect in 2015. He states its full-year results will be in line with expectations despite the recent fall from the oil price. http://www.proactiveinvestors.co.uk/companies/stocktube/3451/seaenergy-ceo-says-upstream-oil-and-gas-sector-presents-huge-opportunity-3451.html