Seascape Energy announces the grant of an award under the Company's NED Plan (the "Plan") to Haida Hazri who has joined the Company's board of Directors as an Independent non-executive Director.
The Award
The Plan is designed to provide incentivisation and retention over a three-year period (the "Performance Period"), vesting from 13 February 2026 to 13 February 2028. Following awards made to the other non-executive Directors in July 2024, and in the interests of consistency, the Company's Board of Directors has made an award under the Plan to Haida Hazri in the form of market priced options to acquire ordinary shares of 10p each in the Company |
 The oil & gas industry in Southeast Asia is looking set for a busy 2025!
The sense of excitement has been palpable in our meetings over the past two weeks in Malaysia, Thailand, and Brunei as stakeholders across Southeast Asia seek to attract investment into the energy space which is currently being diverted out of Europe.
Access to affordable and reliable energy remains at the top of agendas including a renewed focus on developing significant gas resources to displace coal-fired power generation.
With licensing rounds recently announced in Malaysia (MBR 2025), Thailand (25th Onshore Round) and most recently Brueni (shallow water offshore), activity levels are set to remain high. Areas on offer cover a wide range of discovered resources and exploration in both near-field and frontier settings. Fiscal terms are also being positively tweaked to attract capital and quickly bring resources into production.
Over the past few years, Seascape and others have demonstrated that in addition to organic growth and M&A, these licensing rounds can provide an excellent opportunity to create stakeholder value for nimble, focused operators.
I wouldn't be at all surprised if SEA and ENQ end up doing several JV's in the area over the next 12 months .They are much better off complementing each other rather than being a single operator as some have suggested . |
G+A falls dramatically! Maybe they should think about it! ? |
Shame, they could have me in minimum wage. :0) |
Fortunately they are not hiring you!!! |
I assume he wants a pay rise for a promotion. I would!! |
Pierre Eliet was already an employee. He has just been appointed to the Board. No extra expense there. |
Their corporate spend was reported to be £250k per month, can they afford this extra expense? I can only assume they have another value enhancing deal in the pipeline that needs more BoDs!! Time will tell I guess |
A confident sign that the deal will complete and other options are there by bringing in two likely expensive directors. |
These are both good moves to strengthen their team for purposes of finding and closing more highly accretive deals. Excellent |
13 February 2025
Seascape Energy Asia plc
(the "Company", "Seascape Energy" or "Seascape")
Directorate Change
Seascape Energy, an E&P company focused on Southeast Asia, is pleased to announce the appointments of Haida Hazri as an Independent Non-executive Director and Pierre Eliet as an Executive Director of the Company. Both appointments demonstrate the Company's long-term commitment to attracting and retaining top talent in support of growing its business in Malaysia and across the wider Southeast Asian region.
Haida Hazri, Independent Non-executive Director
Haida brings a wealth of experience in the Malaysian upstream industry with over 25 years' experience in E&P, LNG and technology within PETRONAS, Sapura Energy and various other energy entities. Haida worked across a wide range of legal and commercial roles at PETRONAS prior to being appointed CEO of PETRONAS Technology Ventures Sdn Bhd. She later moved into the role of VP, Strategy and New Ventures in Sapura Energy focussing on upstream M&A and business growth where she oversaw the $0.9 billion acquisition of Newfield Malaysia the successor of which, SapuraOMV, was recently purchased by TotalEnergies in a $1.4 billion transaction. Haida holds a double degree in Accounting and Finance (BComm) and Law (LLB) from Melbourne University, Australia as well as Masters in Law (LLM) from Universiti Malaya, Malaysia.
Pierre Eliet, Executive Director
Pierre joined the Company in September 2023 as part of the Topaz acquisition and has been instrumental to the success of building Seascape's operations in Malaysia over the past 18 months. Based in Kuala Lumpur, Pierre has over 30 years' experience and worked with Lundin Energy and Roc Oil where he held senior technical and business development roles with oversight of subsurface and growth across both company's Asian portfolios. Pierre also previously worked at TotalEnergies and Cairn Energy where he was closely associated with the discovery of the Cairn Rajasthan fields in India, and specifically the flagship Mangala field. Pierre holds a BA in Earth Science from Trinity College in Dublin, a PhD in Geology from Manchester University and certified IDP-C, INSEAD's (International Director's Programme).
In addition to his role of Country Chair of Seascape's Malaysia business, Pierre will take on the title of Executive Director Corporate Development where he will continue to support the Company's growth ambitions across the region.
The new composition of the Company's board is as follows:
· Executive Chairman: James Menzies
· Chief Executive: Nick Ingrassia
· Executive Director: Pierre Eliet
· Non-executive Director: Graham Stewart
· Independent Non-executive Director: Geraldine Murphy
· Independent Non-executive Director: Haida Hazri
James Menzies, Executive Chairman of Seascape Energy Asia plc commented:
"I am very pleased to welcome both Haida and Pierre to the Board of Seascape. Haida brings a wealth of knowledge and connectivity across the oil and gas value chain in Southeast Asia and Pierre has worked closely with the board over the past 18 months being instrumental in establishing and growing our business in Malaysia. I look forward to working with both of them as we continue to build-out our capabilities and portfolio across the region." |
From today's Enquest RNS:
"Award of DEWA Production Sharing Contract in October 2024. The low-cost first phase development holds up to 500 Bscf of gas in place, with the potential to deliver production of c. 100 mmscf per day (c. 18 Kboed)." |
The boys are busy! Great to see |
Tweet from the Seascape team who are attending Brunei PTEC about a new licensing round on the cards in Brunei for two shallow water blocks … |
I don’t think we should infer anything from the Sunda Energy retweet. I think they just retweeted that announcement by Sunda Energy to show that other explorers are also busy looking and working on opportunities in SE Asia. |
This is what they said yesterday...
"Seascape is actively pursuing growth opportunities through both ground-floor initiatives and potential M&A with an ambition of materially expanding its portfolio during the year."
From ChatGPT… "In this context, materially suggests a significant and substantial expansion of Seascape’s portfolio, rather than just incremental growth. It implies that the company aims to make acquisitions or develop projects that meaningfully impact its overall asset base, revenue potential, or market position.
It’s a way of signaling to investors that the company isn’t just looking for small opportunities but is actively seeking deals or projects that could move the needle on its business scale."
...Worth noting that as we've seen with many other O&G co's before, if they do announce a monster deal, the shares may well be immediately suspended until the deal concludes. Thus better to take your position beforehand. |
Something brewing for sure - we just don't know what yet. |
Seascape Energy Asia @SeascapeEnergy · 57m
Great to hear from the DMF about their exciting plans for a busy year ahead starting with the launch of the 25th Licensing Round onshore Thailand. #Thailand #oil #gas |
Also - why were they retweeting about Sunda Energy (Baron Oil) on 28th January. What can we infer from that? |
Company have tweeted again this morning - about onshore Thailand |
Yep..something cooking ?! |
Seascape Energy Asia
@SeascapeEnergy
·
2h
Great to meet PTTEP today in Bangkok following their FY24 results last week highlighting ~500 kboepd of sales volumes and contributing THB 50,450 million to the Thai government. |
Legacy holders still apparently keen to offload into any rise. Hopefully we can move meaningfully upwards when they are done |
Materially expanding the portfolio in 2025 sounds like there will be no lack of exciting newsflow this year whilst we wait for the Block 2A drill and DEWA . With more than half the market cap in cash , a free carry on multiple TCF's of gas , and a trustworthy experienced management team with lots of skin in the game , Seascape continues to represent a thoroughly compelling investment opportunity in my view . |
Going well. Nothing tangibly new but farm out on track and other opportunities being looked at. |
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