Block 2A makes the DROs a sideshow. Looking forward to the farm out news soon |
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Cavendish note...
"Similarly at Block 2A, we estimate that Seascape would look to retain a 15.75% interest post farm-down. This would equate to a net 261 mmboe. At $4/boe this would equate to a potential unrisked value of £14.65 per share net to Seascape." |
Cavendish...
"—Valuation We will update our valuation and target price in due course. However, we note the recent acquisition by TotalEnergies of a portfolio of Sarawak producing gas assets from SapuraOMV for US$4/boe. This would equate to a potential unrisked value of 75-100p net for Dewa (5.4-7.2x the current share price)." |
in with first 90k tranche
will double up on any weakness gla |
Makes sense to partner with ENQ, they have operations in Malaysia already plus plenty of cash to pump into a new venture.Cash |
So whatever happens to block 2A they always have 28% of 500 bcf GIIP (gross, ~83 mmboe) to underpin the company. |
Great news. No more doubting and worrying about their ability to get this deal over the line then. Progress being made - looking more active than Longboat already! |
Sounds like a bit of patience maybe needed though?
"The initial low-cost work commitment (approximately $0.6 million net to Seascape) is to conduct a detailed resource assessment and deliver a Field Development and Abandonment Plan within two years" |
Farm in next. |
We the have rns, alleluia!! |
Seascape Energy, an E&P company focused on Southeast Asia, is pleased to announce that it has been awarded a 28% participating interest in a Small Field Asset Production Sharing Contract ("SFA PSC") over the DEWA Complex Cluster ("DEWA" or the "Award") off the coast of Sarawak, Malaysia. The Award was made under the Malaysia Bid Round Plus ("MBR+") by Petroliam Nasional Berhad (PETRONAS) ("PETRONAS") through Malaysia Petroleum Management. |
Farm in is the big one IMHO - PSC is more of a side show |
Farm in news would be preferred with a cash payment and free carry on the drill bit. |
The moment useless politicians (who are parasites by nature) get involved in negotiations for anything, then everything grounds to a halt. |
if this goes nr 10p again ill pick up a holding.
in this market dont want to buy anything thats weakening.if the farmout doesnt happen in q4 people will start fretting about a placing as they only have dough until q1 25. |
Still talking it seems ...
In a written parliamentary reply to Sibu Member of Parliament Oscar Ling Chai Yew, Azalina said the talks have been prolonged due to the complexities surrounding Sarawak's Gas Distribution Ordinance (Amendment) 2023. |
I've been topping up too. Not too long until news soon I reckon. Expecting big things here. |
It would be good if the overall Petronas/Petros talks could be concluded soon .
October 1st was the nominal end date .
At least they seem to be amicable based on everything I read last month .
And Menzies seemed relaxed about it in the presentation. |
I added another 50k today, takes me to 900k. Free float is very small and the prize could be immense. One things for sure, this will not be £8m mcap with line of sight to 9TCFs. Regardless of anything else. Its all about sentiment + a dose of patience |
I'm adding when I can. |
The prospects havent gone away ..why not just be patient ?? |
The sell off is brutal here, but management have only themselves to blame for giving unrealistic timelines for something they don't control. Mid summer, lol |
Got another small 16k today, every little helps get to my ambition of a 1 million shares holding here.Patience imo will pay off. |
I've been topping up on the basis of Kertang farm out, and other prospects beyond the DROs |
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