Thank you for the link |
Investor Meet today . |
Nothing new, although they seemed a little coy about where they were with new prospects which to me implies they're in negotiations.
They seem to imply there will be an uplift in resource on their DEWA prospect.
Block 2A we should find out when they plan to drill this summer. But they indicated it could be back end 26 or early 27. So in AIM investment terms a lifetime away. |
10am today |
Is at 10am |
Have I missed the investor presentation? |
that will be the multimillionaire zak mir ? |
https://www.share-talk.com/traders-cafe-with-zak-mir-bulletin-board-heroes-tuesday-18th-march-2025/Decent share price prediction from Mr Mirs. |
EV of just £12.5m for all that when G/A is going to be less than £300k per month is just nuts.
Peeps haven't noticed the Kertang 10% free carry on an exploration well PLUS an appraisal well isn't capped ?!
Edit, By way of comparison our old friends UPL have an EV of £16/17m based on assets of what exactly?/ |
So at present the mcap is c£22.5m
They have
c£10m cash
14-17mmboe
10% free carry on P3 of 9bn boe |
Cavendish repeat note today .
Valuation: We estimate that the Inpex deal could be worth up to US$38m or 46p/sh to Seascape (c1.3x Seascape’s market cap).
Adding this to the implied read-through value for Seascape’s remaining 10% participating interest of US$9m results in a valuation of US$47m or 58p/sh (c1.7x Seascape’s market cap).
We maintain our target price at 85p, in-line with our risked NAV.
Unrisked, our NAV increases to 2,460p, highlighting the significant upside to our target price as Seascape matures and derisks its portfolio.
Investor Meet tomorrow at 10am when we may have a little more colour on a likely Kertang drill date from Inpex. |
Basically about half our current market cap is now in cash.Hopefully we get drilling 2A in h1 2026.Well done to the SEA team. |
Hopefully got my timing right here! Good to see a company actually delivering in full, within promised time..gives good hope that their plans for the rest of the year will come to fruition. |
With today's ratification that the Block 2A deal is concluded, SEA can continue with its corporate goal to add further SE Asian assets at modest cost but huge potential, given the MC of the company. A share to follow. |
Hopefully some fun will start here again once the 10 million is confirmed in the next week or two. Picked up another £2k worth at just below placing price this morning, showing as a sell. |
My understanding was that they’ve got the key approvals now to complete the Block 2A farmout and what’s taking time is their need to complete in a tax efficient manner. If that is indeed so then SEA still ought to complete and get the $10m this month. Only a few more trading days left. |
This is becoming tedious .
Dontcha just love Politicians the world over ! |
If the reverse takeover proceeds will we see some more information provided by Enquest about DEWA in its reverse takeover public documentation to help it ascribe more value to the DEWA project and maximise its value when negotiating the enlarged group valuation split between the Enquest and Serica shareholders? |
We will see an announcement from Enquest
by not later than 5.00 p.m. on 4 April 2025 on whether it has a firm intention to make an offer for Serica in accordance with Rule 2.7 of the Code or Enquest will announce that it does not intend to make such an offer.
If Enquest/Serica do proceed with their reverse takeover then how may that impact Seascape’s JV with Enquest in relation to DEWA?
At this stage I don’t think there would be much change. The enlarged entity would still be looking for locations outside the North Sea to deploy some of its capital.
The current CFO of Enquest is ex-Salamander and a former colleague of several members of the Seascape board. Will he become the CFO of the enlarged entity or will he move on? |
Catalysts this year:
- completion of Block 2A farmout - $10m lands in Seascape’s bank account providing the ammunition to shoot for more accretive deals
- block 2A well commitment - it will be interesting to see how keen Inpex are to drill the Kertang monster. My guess is they’re very keen! Remember that Seascape are fully (uncapped!) carried on up to two wells
- DEWA resource assessment - this will be helpful for defining the value and for the JV partners to organise financing for the development
- more accretive deals - more DEWA-type deals which can be brought onto production based on historical data simply and cheaply would be brilliant and would further prove their business model |
Topped up today, showing as a sell. |
Well well ENQ is interested in SQZ.! |
Topped up today. |
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