I hope the institutions just joining us buy more directly in the market. Hold tight and top.up on price weakness till 2A gets drilled |
'We just don't know - All things being equal it will be 2026' re Kertang drilling as it's in the hands of Inpex.
'With a fair wind first gas for DEWA 2027'.
Might drift until the next deal or deals.
Either way, cashed up for the forseeable future. Dewa gross development circa $200m and should give a net 5k boepd to SEA. I'd expect a RBL element. |
Great stuff. Well done to the seascape team. Almost £1.50 hard value they identified |
As soon as the slide show finished the share price started to fall. That's it on the news flow for the foreseeable future |
Share price all over the place |
Exactly. The high risk is no more. The DEWA clusters are the key in my view - not so much Kertang. They now have the funds to monitise it, and cash flow for growth.
This is very similar to the fortunes of Serica, and build up from the lowest point of sub 10p to eventually reaching the heights of circa £5, albeit with a drop to today’s levels. |
From rns monthly spend is GBP 250k and had about GBP 1 million left. Therefore good to raise the GBP 2 million and that brings total cash to GBP 3 million now. |
Confirmed as I said yesterday - they would possibly have run out of cash without placing. |
8, 9 or 10 quid just mentioned |
Ok...here we go with the presentation. |
SEA is now a medium term investment
Patience will be required to realise large gains |
Since refocussing its activities on Southeast Asia, the directors have substantially reduced the ongoing costs of the business and the Company previously announced that it has sufficient cash until Q1 2025. Seascape has existing cash of approximately £1 million[3] and costs of approximately £250 thousand per month, including forecasted spend at DEWA and minimal spend on Block 2A prior to completion of the farm-out. While the Initial Farmout Consideration is substantial, the timing of completion is uncertain and the Directors believe that it is appropriate to ensure that the Company has sufficient financing to enable the Company to execute the Block 2A farm-out, progress DEWA towards FDP and pursue further growth opportunities in Malaysia and across Southeast Asia. |
Given the shallow water depths and nearby infrastructure, the partners in the DEWA PSC are targeting a low-cost development plan utilising existing technology, which could support a potential production plateau of up to 100 mmscfd (17 kboped). DEWA has a low-cost initial work commitment of approximately US$0.6 million net to Seascape, to conduct a detailed resource estimate and deliver a Field Development and Abandonment Plan ("FDP") within two years, currently targeting first gas in 2027.The farm-out of Block 2A marks an important milestone in the transformation of Seascape into a fully funded, Southeast Asian focused E&P business with a combination of firm value in discovered resources on the DEWA PSC and significant upside associated with its retained interest in the world-class Kertang prospect. |
With the raise and $10 million coming in next year the company will be sitting on nearly £10 million cash . The market cap therefore looks pretty modest when you look at our asset base. I feel there is much more to run short term in the share price |
Perhaps one of those who took up the placing sold straight away yesterday. Looks like they are done now though - should be onwards and upwards from here. |
If some are only here for 2A, the drilling time frame will be key whether 25 or early 26 with INPEX being the operator.
Can’t see if they have done anything or rig declared for their 4E block in drilling synergies.
Petronas did have a number of blocks scheduled for drilling next year with a rig but not sure where 2A could or might slot into that. |
Well I think we can all agree that Mslcy has so far been right on this one since June.Putting that aside imo SEA should be at least double todays price on yesterday's farm out news.With 2A first gas expected in 2027 would be great to get drilling in H2 2025.Looking forward to today's presentation. |
A stopped clock is occasionally right. He ramps everything up all the time and is usually wrong. |
He wasn’t hopeless in pointing out the significance of GM coming aboard in early June when the share price was sub 8p.
Was a great pointer for potential investors to take note that this could go places re her strategic deal making skills. |
I'd ignore everything he says. He's hopeless. |
Thanks, guys, quite a CV Malvy has, although 350p short term target seems a little optimistic. |
Katsy
hxxps://www.malcysblog.com/ |
Graham Malcolm Wood |
Who is Malcy BTW? |
Interesting news
Looks like a company on the up |
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