SeaEnergy PLC today announces its results for the six months ended 30 June 2010.
Operational highlights:
Financial highlights:
SERL Sale Process
Steve Remp, Executive Chairman of SeaEnergy, commented:
“While the SERL sale process remains ongoing, we have been encouraged by the interest that has been expressed, including from the Far East. As we expect the sale process to be complete by the end of the year, we will re-focus our attention on exciting opportunities elsewhere in the business. “We believe the supply chain and service industry for offshore wind farms will be a rapidly growing and profitable sector and our Marine Team has done a terrific job over the past year in developing a business model surrounding turbine access and servicing. We now look toward generating orders, and ultimately cash flow, by providing the solution to what we believe is a key issue for offshore wind constructors and operators. “Elsewhere, while we continue to struggle to gain traction in Iraq, a new opportunity of significant potential has presented itself in the form of re-engagement in Montenegro and we will be working hard to clarify and confirm our position there together with our partners. This exciting opportunity is just one of a number across the business and the successful sale of SERL will allow us to maximise these opportunities fully and build greater shareholder value.”
[mappress]
Source: seaenergy-plc, October 01, 2010