Seascape Energy Asia Share Discussion Threads

[ohisay] 18/10/2024 02:49

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.

[jnbrw] 16/10/2024 13:27

I've been topping up too. Not too long until news soon I reckon. Expecting big things here.

[ohisay] 16/10/2024 09:58

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.

[pol123] 15/10/2024 19:33

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

[katsy] 15/10/2024 14:00

I'm adding when I can.

[ohisay] 15/10/2024 13:46

The prospects havent gone away ..why not just be patient ??

[katsy] 15/10/2024 13:37

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

[jungmana] 15/10/2024 12:35

Got another small 16k today, every little helps get to my ambition of a 1 million shares holding here.Patience imo will pay off.

[ripvanwinkle3] 14/10/2024 15:41

I've been topping up on the basis of Kertang farm out, and other prospects beyond the DROs

[katsy] 14/10/2024 15:24

the Company announced that it had provisionally been granted an award, subject to the successful negotiation of certain key contractual terms, for acreage in shallow water offshore Sarawak containing several material, undeveloped gas fields capable of near-term development.

Looks like investors (or traders) are getting anxious over these negotiations.

Remember nothing is a given until it's signed and sealed.

[jungmana] 14/10/2024 14:44

The 14k is my tiny top up , profits from char trade

[katsy] 14/10/2024 11:32

It's now 6 weeks since they said coming weeks and 2 weeks since they said shortly. Must be this or next week surely!

[darcon] 09/10/2024 07:40

Tweet reply yesterday from the Seascape Energy X.com account:



"As recently highlighted in our interims presentation, Indonesia continues to be on the front foot to drive investment into its upstream industry."

[ohisay] 08/10/2024 04:27

If you missed the Investor Meet ..

[upwego] 07/10/2024 00:30

Good volume on Friday - getting closer to news!

[smackeraim] 04/10/2024 08:45

Farm out still due?Longboat's near-term focus remains on its transformational Malaysian activities:·    The farm-out of Block 2A is well underway and the Company remains confident of executing a transaction during Q4 2024

[jungmana] 04/10/2024 07:56

All buys this morning so far. Best pick today for Q4 2024 and beyond imo

[jungmana] 04/10/2024 06:37

A big hint there and imo could be our partner in the DROs too.
To quote the recent presentation,
"Partnered with a well known operator"

And from the results rns;
"  addition, an Area of Mutual Interest ("AMI") in Shallow Water Sarawak was signed at the end of 2023, between the Company and another international E&P company active in Malaysia, to pursue discovered resource opportunities ("DROs") being offered by PETRONAS. "

[ohisay] 04/10/2024 02:01

Our preferred partner ?!

[divmad] 03/10/2024 12:09

Classic Zengas. Good to see you posting again.ATB.

[ripvanwinkle3] 03/10/2024 11:28

Seller running out of ammo?
or keeping their powder dry?

[jungmana] 03/10/2024 11:22

Thanks Zengas . Very appetising considering the shares in issue fully diluted would be approximately 64 million today .And then there is the new DROs to be awarded soon.

[zengas] 03/10/2024 09:18

As shown in the presentation - Retaining 15.75% of Kertang would represent about 260 mmboe net and in excess of £500m value if successful (divided by X amount of shares in issue) - certainly blue sky as they say just for Kertang. It would open up further prospects on 2A. I use a low 50c/MCF ($3/boe) in that valuation but the other fields cost projections imo could make a mockery of that price if successful and could mirror a Cove like play further ahead.

In context of all that's been described these imo would be 'high' value BOEs for the industry to chase given the wider picture if anyone has taken time out to research it.

Kertang/2A - "intense industry interest" and "wide range of interest from global energy companies". So not surprised !

All the gas sampling and studies show that we are out of the CO2 window !.

"Only 110 km from infrastructure" !

Very important to note and fully take on board that the estimated 10 TCF Kasawari field Malaysia described as an analogue to Kertang has just come onto production at 200 mmcf/d and ramp up to full sales of 575 mmcf/d next year.

Compared to Kertang-

81 km sales pipeline to infrastructure connection - then onwards to Bintulu. 138 km pipeline connection to the depleted M1 field to dump CO2.

One of the largest and perhaps most expensive gas fields in the world due to dealing with the near 40% CO2.

Rystad Energy article on Kasawari describing that the huge cost of dealing with the C02 is estimated to take the break even cost to over $5 mcf or over $30 boe while another draws comparison to a previous project of smaller scale onshore Australia at $3.1 billion alone to deal with the CO2.

"A recent discovery offshore Indonesia that may be impacted is the Abadi LNG project. Japan’s Inpex, the field’s operator, is still evaluating the investment needed to tap into nearly 10 Tcf of offshore gas. One consideration it is looking at is the potential inclusion of an CCS facility which Rystad estimates would mean first gas breakeven at around $8.00/Mcf. ($48/boe)"

"Fueling the Future With Sour Gas

In simple terms, Southeast Asia’s short-term energy outlook is highly dependent on sour gas—also known to the industry as contaminated gas—because it represents about half of what’s left to produce. The big downside is that sour gas is notoriously costly to process, even without considering the cost of CCS.

The potential wave of capital outlay is driven in no small part by mandates across Asia to halt the construction of new coal-fired power plants and instead promote the conversion to or building of lower-emitting gas-fired power plants."



So in that context above it is no wonder that there is "intense industry interest" and a "wide range of interest from global energy companies" and why it's one of the most exciting opportunities to come across.

[upwego] 01/10/2024 19:39

It would be nice to see a farmin for block 2A and a cash payment, now that would be very nice indeed. I think the Ketang prospect is drill ready with 3d Seismic this should wet the appetitite on this play for the big boys baring in mind that there are no 3D seismic costs and time elimated, the kertang could be drilled mid next year with a sucessful farmin this side of xmas.

Being malaysia`s largest undrilled target I would imagine a farm down will be a given Q4 hopefully :)

[darcon] 01/10/2024 08:10

Re Block 2A:

On slide 8 they state: "Seeking to retain at least 15.75% post farm-down".

SEA's interest in Block 2A was originally acquired by LBE through a licensing round (36.75%) and subsequently topped up with a further 15.75% acquisition of Topaz One.

So they're contemplating holding on to the Topaz One acquired holding structure and transferring the entire 36.75% original LBE interest that carries the operatorship right. That ought to be a relatively simple transaction involving a share transfer in the holding vehicle for the 36.75% interest.

I do not recall seeing such a statement about the specific interest that they were seeking to retain in their June presentation or earlier presentations I believe. So I think it is the first presentation in which they have clearly specified the minimum % stake in Block 2A that they would like to hold post farm down.