UK 16:08 Sunday, 8 November 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Well you can’t say you were not warned on countless occasions (see HERE), having called this a sell back in September of last year, and naming it as one of my top picks for a zero in the UKI magazine in November. This morning AIM-listed (but not for much longer) SeaEnergy announced that it had gone into administration and that its hapless Nomad WH Ireland had resigned with immediate effect. I’ll bet WHI is really pleased it took on this dog-with-fleas back in November. I hope that readers duly collected their bags of crisps before the shares were suspended pending clarification.
This has been a long time coming, but surely now it is clear that AIM-listed SeaEnergy (SEA) is toast. This morning came an RNS which spills the beans, although the company STILL failed to spell out the grim truth to its lobster-potted shareholders.
Well surprise, surprise. AIM-listed POS SeaEnergy SEA), whose directors had a bit of penchant for posh awards dinners, has had its shares suspended pending clarification. In short, it is toast. I’ll bet the Nomad – the fine and mighty house of WH Ireland - is delighted that it took this client on as recently as November – a great effort there by the due diligence team. You can’t say were not warned: the shares were being called as a sell on this website back in September last year. Anyone still holding has grim news to digest.
Oh dear, things have just got a whole lot worse for AIM-listed SeaEnergy (SEA) as fellow AIM company Lansdowne Oil and Gas (LOGP) – in which SeaEnergy has an 18.67% interest - has just announced that its shares are suspended pending financial clarification.
I’ve been classing AIM-listed SeaEnergy (SEA) as an outright sell since last September (see HERE) at 5.5p bid, but was bearish as long ago as last June at over 12p (see HERE). This has been an accident waiting to happen for months and this morning came the grim news.
We have for some time suggested that offshore energy services business SeaEnergy (SEA) was a bargepole stock. The company has pretended otherwise, by taking on more debt and by issuing infuriating releases about how shareholders were funding management to go get pissed at black tie awards ceremonies. Today, SeaEnergy fessed up: The Sheriff & Deputy Sheriff of AIM were right all along. We usually are.
Shares in AIM-listed under-sea train-wreck SeaEnergy were up 10% yesterday on news from Lansdowne Oil and Gas (LOGP) – see here – which itself was up a whopping 33% at 2p mid.
This morning cash-strapped AIM-listed SeaEnergy (SEA) shares have spiked 36%. There is no news and a statement is needed urgently.
I suppose that a profit warning should actually involve profits but unfortunately for SeaEnergy's (SEA) beleaguered shareholders that seems to be a long way off. With the low oil price it goes without saying that companies with exposure to black gold in some form or other are going to be suffering in the current climate. But SeaEnergy – as discussed HERE - could and should have been almost bullet-proof. Having had cash and readily realisable assets worth millions, the company has spent the cash and stood by while the value of the holding in Lansdowne Oil and Gas (LOGP) has dwindled away. It now finds itself reliant on the bank and having to go round with a begging bowl in order to keep the lights on.
AIM-listed and skint SeaEnergy (SEA) has released a toe-curling RNS this morning to announce the win of some industry award. The thing is that SeaEnergy is out of cash and reliant on a bank overdraft - it urgently needs to get a placing away. The announcement goes as follows (ShareProphets RNS Translation Service in plain script):
When the great libertarian revolution comes the board of SeaEnergy (SEA) will be among the first of the crony capitalists to be rounded up by the newly privatised police force and put up against the wall – a release today just fills me with utter disgust.
AIM-Listed Seaenergy (SEA) announced its interim results to 30 June yesterday morning. Having previously highlighted a few missed opportunities HERE (and that is being uber-polite) I see some pretty horrible numbers. I note that Tom Winnifrith called it a Bargepole stock in yesterday's Bearcast, but stopped short of calling it an outright sell. I hesitate to disagree. Er…..no I don’t. I say it is a sell, a bag of crisps job.
