UK: No Value Accorded to SeaEnergy Offshore Wind Services

UK: No Value Accorded to SeaEnergy Offshore Wind Services

Research house Edison says that SeaEnergy should see the gap between its market price and the value of its assets close, the ProactiveInvestors reports.

Edison analyst Graeme Moyse said that there is a significant gap between the market price of SeaEnergy and the value of its cash balance, and also in its stake in Lansdowne. Celtic Sea explorer Lansdowne Oil & Gas, in which SeaEnergy holds a 24.68 percent stake, has supported the firm’s share price with its recent strong performance.

“SeaEnergy’s 2011 results were dominated by the gain of £32.8 mln generated from the disposal of its holding in Sea Energy Renewables Limited (SERL),” said Mr Moyse. “No value is being accorded currently to SeaEnergy’s activities in the offshore wind market.”

According to him the company’s future depended on its ability to develop its offshore wind service business in a three pronged strategy.

Based on the strategy, it will first try to control its design for an offshore wind farm support vessel by reaching agreement with a large owner of vessels and then to seek the purchase of small profitable businesses that offer O&M services. The third part is to develop businesses that offer consulting services to the offshore wind market.

SeaEnergy PLC is a Scottish public limited company based in Aberdeen. The company’s board announced the intention to focus the group on renewable energy, specifically offshore wind, in September 2009. Next year, the company specified it would concentrate on marine services for the offshore wind power industry, following an assessment of the equity markets, investor sentiment and the funding environment.  

The company posted a profit of GBP 25.3 million last year after making a loss of GBP 5.7 million in 2010.

Offshore WIND staff, May 11, 2012; Image: SeaEnergy

Share this article

Follow Offshore Wind

Events>

<< Apr 2017 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

7th New Energy Investor Summit

The event and the makeup of its participants have evolved with the changing European markets…

read more >

WINDERGY INDIA 2017

The Indian Wind Turbines Manufacturers Association (IWTMA) in association with Global Wind Energy Council (GWEC) is hosting Windergy India…

read more >

All-Energy Exhibition and Conference 2017

All-Energy has provided the industry suppliers, experts and thought-leaders from the renewable energy supply chain the opportunity…

read more >

Future Conference: Wind & Maritime

The sixth Future Conference: Wind & Maritime – the conference in north-eastern Germany that connects wind wnergy with maritime industry…

read more >

Jobs>

Project Manager Shiprepair Dunkerque

The project departments within the Damen Shiprepair & Conversion yards are managed by a Head of Projects or directly by the MD of the yard ...

apply

Network Support Engineer

As Network Support Engineer you will be responsible for the installation / configuration, operation and maintenance of the infrastructural network ...

apply

Offshore wind jobs at Shell Netherlands BV

Commercial Lead New Energies, Offshore Wind Operations Lead and Wind Turbine Engineer.

apply

Vessels>