Member Info for OilyPete

44p just paid on Ask price. Let's see if it continues.

Exclusivity Agreement & Repayment Terms of Existing Loan Facility Extended SeaEnergy plc (AIM: SEA) announces today that it has reached agreement with a consortium of major European energy companies ("the Consortium") to grant a period of exclusivity to negotiate the sale ("the Transaction") of the Company's 80.13% interest in its subsidiary SeaEnergy Renewables Limited ("SERL"). Due diligence is already in progress and the agreement contemplates the signature of formal documentation by early June when the Company would make a further announcement. It is then expected that, in accordance with the AIM rules, the Company would convene a general meeting to obtain shareholder approval of the Transaction with the intention of completing the transaction at the end of June. A member of the Consortium has agreed to advance loan facilities to assist the Company and these loans would be repayable out of the proceeds of any sale. Meanwhile the Company has agreed a further extension to the terms of an existing loan facility until the earlier of 30 June 2011 or completion of the Transaction. The facility is provided by LC Capital Master Fund, Ltd ("LC"), a major shareholder in SeaEnergy and follows an announcement on 31 March 2011 that LC had agreed an extension to 30 April 2011. At this time £370,000 remains to be drawn of the £4.3 million facility provided by LC. While there can be no certainty that the current negotiations will result in a successful completion of the Transaction, these negotiations are at an advanced stage.

http://investing.thisismoney.co.uk/cgi-bin/rns?username=&ac=&action=news&rns=1&view=full&story_id=4205401

Whoops! Forgot. Try Tuesday then ;0?

I will be very surprised if we don't get an RNS tomorrow at 7am. As far as being under the radar, there are very few shares available to trade here as I found out from trying to buy more last week and somebody seems to be keeping tight control of the share price at 40p and keeping the MMs and day traders away. Come on SEA!!!! http://www.youtube.com/watch?v=VnCS25z18pI

Cheap as chips at the moment. A repeat spike before the next RNS just like last week is guaranteed as the market is aware that this next one could be the making of this company. Good Luck mate.

From Joanne Hart of the Daily Mail 23.04.11. I love looking at her tips! "Meanwhile, at Ecofin Water & Power Opportunities, two directors and their associates have bought nearly ten million shares for £11.7 million. EWPO was founded in 2002 and is one of the biggest UK investment trusts. The group invests in water, electricity and gas businesses as well as alternative energy groups. It buys shares and bonds in these companies worldwide and did extremely well until the financial crisis. Since then the stock price has floundered, falling from 190p in 2008 to 1261⁄4p today. Not only are the shares lower than they were three years ago, they are also trading at a discount of more than 30 per cent to their net asset value – the value of their investments. Directors believe the shares are incredibly cheap and have put their hands in their pockets to prove it. They bought their stock at 120p a share and the recent deals are their largest purchases since EWPO was created." Dividends now paid quarterly approx. 6p/share per annum, and one for the ISA.

Yes, this drill has been a catastrophe with the drill parting in the hole from the Hydrogen Sulphide gas in the well, but now all the drilling problems are fixed and the cost to the company is minimal as Addax I believe are responsible here. As mentioned anyone who doubts the upside, take a look at GKP and HOIL. These shares are trading near to their 52 week low of 48p so in light of the fact that the SP could well multiply several times come June if a major discovery is found compared to a smallish drop if the well is a duster. This is going to rise nearer June as interest in the next RNS returns. Just my opinion. Make your own mind up.

Why would they register another company today if the sell off was going to be delayed further? I hope this is a good sign as I've just topped up!

Here is a reminder of GKPs RNS of oil discovery in Kurdistan back in August 2009 when the price was around 16p. http://investing.thisismoney.co.uk/cgi-bin/rns?username=&ac=&action=news&rns=1&view=full&story_id=2934451 Two months later the SP was over £1, now £1.63 with market cap. of £1.2billion. Recent RNS has upgraded the reserves from 1.9 to 4.9 billion barrels of oil. http://investing.thisismoney.co.uk/cgi-bin/rns?username=&ac=&action=news&rns=1&view=full&story_id=4174710 If it happened for GKP and HOIL, then why not SEY? Not long until we find out!

Good find. Map on Page 6 looks good for the chances of success in the area.

I agree with what you are saying, the SP should be at least 70p now anyway regardless, as the previous problems have been solved with this drill and today confirmed by the RNS. Costs of the drill will be met by Addax as also mentioned I think.

Interesting to read the RNS from HOIL as it shows the test results from their major gas discovery back in Jan and future drills planned. Suprisingly the SP dropped after the RNS was released as the market was expecting oil. Currently a $100m share buy back is underway as the Directors of Heritage think the company is significantly undervalued. http://investing.thisismoney.co.uk/cgi-bin/rns?username=&ac=&action=news&rns=1&view=full&story_id=3999517

I would guess that they know they have discovered a large commercial gas find already, the further depth of the drill maybe to find oil yet to be discovered by the likes of Heritage Oil who are operating in the same area. Now, that would be nice!

Either way, I think tomorrow it will be the news of the sell off, or of yet another loan extension. They should really let us know before the close of play as a courtesy to us shareholders. GLA.

News of new PDX contracts in FT and Telegraph but can't see any RNS?? 1. Contract for its PDX reactor system with a food manufacturer, reckoned to be Ireland’s Greencore. 2. British company NDX Solutions wins Japan clean-up contract of goods contaminated by the Japan nuclear disaster as they arrive at two European ports. I hope we hear further details soon from PDX as to the value and so on.

29p average at the moment. Need more!!!

Nice to see you here mate. I remember you from the good old days on the DES board and recently on SOLO. Are you in RRL?

I really hope that we get the RNS before the 30th April. I have been expecting this sell off since Christmas 2010, so a further delay will only deter investors and probably cause a fairly substantial drop. So, come on the BOD of SeaEnergy, give us what we are waiting for and first thing Tuesday morning please!!

From yesterday's FT.......... "Pursuit Dynamics eased 1.4 per cent to 245¾p in spite of reports that its joint venture with National Nuclear Laboratories, NDX Solutions, had won contracts to clean up goods contaminated by the Japan nuclear disaster." Currently up 10%!!!!!