Seascape Energy Asia Share Discussion Threads

[ripvanwinkle3] 28/10/2024 08:39

Moves fast both ways this one!

[jungmana] 28/10/2024 08:23

Should be double that before the 2A farm out imo.Too cheap at GBP 21 Million market cap

[smraynot] 28/10/2024 07:58

Hold on tight.

[someuwin] 28/10/2024 07:41

57.1 million shares in issue, so valuation here still only £21.3m. Very cheap.

[smraynot] 27/10/2024 13:22

Spot on"Hamid" one in a million opportunity as will be reflected in the share price over the next few days weeks and months.🚀8640;🚀Ԇ40;🚀

[andrewbatchelor] 26/10/2024 22:06

Longboat’s CEO, Nick Ingrassia, noted: “I am extremely pleased the results of the ERCE CPR confirms Longboat’s internal view of the world-class scale of the Kertang prospect. Based on the excellent subsurface work undertaken to date by the Longboat team, we believe that Kertang is one of the largest undrilled structures in Malaysia and look forward to working with our partners PETRONAS and Petros to progress the prospect towards drilling in the next 18 months."

Full article:-

hxxps://www.offshore-energy.biz/partners-to-work-on-making-one-of-malaysias-largest-untapped-prospects-drill-ready-in-next-18-months/

So, no drilling till the end of 2025, provided a farm out partner can be found!!

[che7win] 26/10/2024 07:10

Misoolisland is a chat box

[hamid1970] 25/10/2024 22:02

This is truly one of those rare, exceptional opportunities! With nearly 30 years of trading experience, I can confidently say that chances like this don’t come around often. The path is laid out, and the potential within is both clear and measurable, we are set for exciting ride both near term and throughout 2025

[smraynot] 25/10/2024 18:01

More than good "misootisland" imhho this could be the one in a million.

[misoolisland] 25/10/2024 16:12

is this a good share

[smraynot] 25/10/2024 15:16

Would not want to be out for the weekend. Another 100%+ next week?

[devonlad] 25/10/2024 14:37

Thanks Someuwin, you're a star! That's such a stunning note when you think about the potential here.

[someuwin] 25/10/2024 14:13

Cavendish 21 October 2024


Growing the Malaysia Portfolio

Seascape Energy has been awarded a 28% non-operated interest in a Small Field Production Sharing Contract (PSC) for the DEWA Complex Cluster, offshore Malaysia. Situated in shallow water (40-50m) offshore Sarawak, the DEWA Cluster contains several material undeveloped gas fields capable of low-cost, near-term development. The award supports the Company’s recent decision to strategically pivot the business to focus on SE Asia and complements Seascape’s existing high-impact Block 2A opportunity, containing the multi-TCF Kertang prospect.

—A Material Opportunity for Seascape. DEWA is comprised of 12 gas discoveries off the coast of Sarawak. Gas was initially discovered in the area in 1982 but was overlooked by previous partnerships which were focused on oil/liquids production. The JV is anticipated to initially focus on six discoveries which Seascape estimate to contain in aggregate 500Bcf of gas initially in place, of which 300-400Bcf is potentially recoverable (84-112Bcf net to SeaScape). The fields are characterised as having clastic reservoirs, with large gas columns and good hydrocarbon mobilities. In addition to the discovered resource, there is upside potential from step-out opportunities and untested reservoir sands.

—A Low-Cost Route to Growth. The assets are development ready, meaning that no further appraisal is required. Given the shallow water depths and proximity to existing infrastructure, Seascape, together with its partners will pursue a low-cost, near-term development, which has the potential to produce 80100MMscf/d at plateau (22-28MMscf/d net to Seascape).

—Nil Cost and a Low-Cost Work Programme. At nil cost, the DEWA portfolio includes a significant dataset of 35 well penetrations, well logs, multiple drill stem tests (DST) and modular formation dynamics tests (MDT) as well as extensive 3D seismic coverage across the entire PSC area. The initial low-cost work programme (US$0.6m net to Seascape) is to conduct a detailed resource assessment and deliver a Field Development and Abandonment Plan within two years.

—Complementing the Portfolio. The DEWA Cluster builds on Seascape’s existing position in Malaysia and complements the existing high-impact Kertang exploration prospect. Kertang has been independently assessed to contain gross unrisked mean prospective resources of 9.1Tcf of gas and 146mmbbls of NGL’s. Following recent approaches from multiple large companies, Seascape Energy is running a formal farm-out process expected to conclude during H2/24 to secure a partner ahead of drilling.

—A Capable Operator. The DEWA Cluster will be operated by EnQuest. EnQuest are well known to the London market and have extensive experience in operating offshore Malaysia through the PM8/Seligi gas asset. In FY23, the PM8/Seligi asset produced 7,437boepd (net to EnQuest) and contained an estimated 28mmboe of net 2P reserves.

—Incentivising Investment. The development of these fields will be under the new Small Field Asset terms which are specifically designed to simplify and incentivise rapid development of smaller hydrocarbon accumulations in Malaysia. The terms were introduced to provide opportunities for industry players with the right capabilities to extract greater value from discovered resources.

"Valuation We will update our target price and valuation in due course. However, we note the recent acquisition of a portfolio of producing Sarawak gas-focussed assets by TotalEnergies from SapuraOMV for US$4/boe. Net to Seascape, this would value the 14-19mmboe of net resources at Dewa at a potential unrisked value of 75-100p/share (5.4-7.2x the current share price). 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 mean prospective resource of 261mmboe (1.4Tcf of gas and 23mmbbls of NGL’s). At US$4/boe, this would equate to a potential unrisked value of £14.65 per share net to Seascape."

[smraynot] 25/10/2024 12:42

Joined the party at 39p. Now let the real fun begin. Expect a hike in afternoon trading. Not long to wait for £1+😄

[someuwin] 25/10/2024 12:29

Maybe the climate nutters were right - SEA level is rising!

[che7win] 25/10/2024 12:28

Just topped up again

[hamid1970] 25/10/2024 11:41

Think Zebbo and Zengas post on LSE, not sure about here. But agree these guys have called in correctly from day 1

[cashandcard] 25/10/2024 11:34

Divmad,Thanks and yes I did participate from early on and continue to hold for round 2, that has just got going.I plan to increase my holdings here massively ahead of Kertang well commitment nextyear. Alot of the key details I look for are already in place or are being addressed. The rest is just timing.Cash

[divmad] 25/10/2024 11:22

Great post, cash.So that makes Sintana a 25-bagger so far from its low. Well done if you participated. The lessons I draw from this real world example are, firstly, that the really large capital gains are made from holding, not trading. And secondly, astute managements with strong vested equity interests will know when to make equity placings that are accretive, not dilutive, for future growth. Oh, and being in the right place at the right time. Now where did I hear that phrase recently???

[talkman2] 25/10/2024 11:13

Investors should also take a look at Deltic Energy. Bombed out , 25% of a potential very significant gas find in the NS ( broker put value at 77p , currently trading around 8p ) and now moving its focus overseas . Check it out and dyor.

[talkman2] 25/10/2024 11:09

Any share sale is being snuffled up . I wonder if someone is building a stake . We should all thank Ed Miliband for killing the NS and his mad Net -Zero policy.

Still a very modest market cap i. relation to its assets

[ripvanwinkle3] 25/10/2024 10:32

It was the likes of Zengas and Zebbo who were pointing out the opportunity whilst Bruce, Blackrock and others were crashing the share price with their "at best" offloading of millions of shares. Has given a golden opportunity for us small fry to achieve big fish-like gains I reckon!

[nigelpm] 25/10/2024 10:27

Poor old Mr Bruce must be sat there wondering why!

[katsy] 25/10/2024 09:39

Haven't done the math but I suspect a significant proportion of the company stock has traded hands this week, possibly 30-35%, so surely somebody would have crossed the 3% thresshold. Let us see if any holding RNS comes out.