Member Info for mayfair21

Deferred Share of 0.50p? is this a way of not pay out dividend?

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I was a big advocate of SEA and averaged 20p share but sold out at 27p as was not happy with trading update on impairment charge due to Lansdowne Oil. At no time did I think SEA would issue a profit warning, particulary on their R2S Visual Asset Management business as they claimed it had a "Strong outlook for the start of 2015 ......and a .... strong order book for 2015" . The CEO recently said " In the face of weaker oil prices, the Company has shown resilience....... R2S VAM continues to show growth and attractive margin potential" but a few week later says "SeaEnergy does not now expect to achieve the overall levels of turnover it previously anticipated". Hello, what happened to your Governance, namely to provide leadership, to ensure that the necessary resources are available to drive the business forward. The oil crisis was no secret so what was contingency strategy? Well by the looks of things - very little! To respond to oil price weakness Sea should have been diversifying R2S Visual Asset Management business into new sectors e.g.. Nuclear energy, Building sector etc. Their Forensic side is currently outperforming its budget. At these price levels one could be tempted to buy but what is the upside for the next twelve months? I see none. So it will have to go single digit for me to buy as a long term investment for I see very little movement here for the next 24 months. I do give credit to SEA for being communicative and open, ensuring that all information is available to all shareholders, even the bad. That shows to me that SEA is a honest and trustworthy company and I believe will turn the business around but the wait is to long for me. Shame, but many a good company are reeling from the oil demise.

I stand corrected - need to have refresher course on my maths - would have helped if I first of all had tallied the percentages of holdings. Doh!

Pablo - always willing to be corrected. However, my understanding of free float is the proportion of shares that are held by investors who are likely to be willing to trade. It is a measure of how many shares are reasonably liquid. It therefore excludes those shares held by strategic shareholders - Directors-Fund Managers etc. To this end, I calculate from the strategic shareholders listing below that of the 56,364,823 shares in issue only 14,168,254 (25.14%) are not in public hands. How do you calculate it to 60%? SEA Share Capital: Total ordinary 10p shares in issue 56,364,823 Directors and Significant Shareholders No. of shares % Stephen Remp former Director 4,202,272 7.46% Lampe Conway 4,018,836 7.13% Spreadex Limited 2,235,526 3.97% Steven Bertram Director 2,230,133* 3.96% Louise Warner 2,005,000 3.55% John Aldersey-Williams Director 1,769,596* 3.14% Mike Comerford former Director 1,386,485* 2.46% Christopher Moar former Director 420,932* 0.75% David Laing Director 80,000 0.14% David Sigsworth Director 60,000 0.10% TOTAL SHARES NOT IN PUBLIC HANDS 14,168,254 - 25.14%

thanks for the info - have you got a link to the said R note/s.

Of the 56,364,823 shares in issue only 14,168,254 (25.14%) are not in public hands (free float). Easy to understand the price volatility. However with the full year results expected to be in line with expectation, this share could and hopefully will see a rapid rise. Any further news on contract wins for R2S or additional vessels for marine business in 2015 (which is expected) means additional profitability and will duly add value to the business and increase the share price. At present there is no broker coverage for SEA which I think would be a great asset now but expect Directors will have to release some of their shares for this to happen, There is the option of issuing more equity, but given the profitability SEA now find themselves in I prefer for the stock to remain illiquid as there is much more chance of a rapid rise in share price than on the back of issuing equity.

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

As at 31 December 2014, the Company had £170k in cash. .Blimely, have got more than that in my post office savings account. No wonder they needed share subscriptions and placing in February 2015,to increase cash position to £3.35 million. I l ike Tavi concept but not sure I shall rush in to buy shares just yet, may be a long wait for a return on investment.

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.

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.

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.

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)

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.