Seascape Energy Asia Share Discussion Threads

[ripvanwinkle3] 30/10/2024 08:21

What's your target smraynot? 40p? 400p? or 1400p? (i.e. How much patience do you have?)

[nigelpm] 30/10/2024 08:14

You first starting posting when share price was 38p.

[smraynot] 30/10/2024 08:07

That's a better start.👍

[pol123] 29/10/2024 19:59

I expect $5-$10M cash element, but we could get a nice surprise. We will find out soon enough.
I would rather have full 15% carry and limited cash up front. CoS is beyond the 22% stated IMO

[ripvanwinkle3] 29/10/2024 19:57

Do you own calculations and position accordingly. I'm continuing to buy - very excited about the story here, regardless of the actual size of any cash element received as part of the farm out. There are other significant value drivers beyond Block 2A, that is now clear

[euclid5] 29/10/2024 19:37

sounds far to high $30m / $40m cash element - £23m

how does that poster know this info, did it come from the BoD, or making it up - many investors will be all over this if they officially knew they were going to get circa $30m / $40m in their farm out - way to high

[smraynot] 29/10/2024 19:21

Tomorrow will be a good day.

[divmad] 29/10/2024 18:43

Sounds like this oiltdr poster is very close to Sea, or else it is pure speculation at this stage.

[ripvanwinkle3] 29/10/2024 17:54

Up front I understand - as per the full version of the post you quote: "For acreage and resources of this size and given the competitive nature of the tender the company will be looking for a) a full carry to development and b) cash of c.30-40musd. Clearly there could be other staged awards or milestone awards but they are in a position to get a full carry through here rather than just for initial drill. The cash received up front will likely exceed the current market cap as of Friday close"

[euclid5] 29/10/2024 17:33

Is the $30m expected on the farm out or on full carry at development stage, if proven commercial. Seems a very high amount to pay cash just on the farm out

"For acreage and resources of this size and given the competitive nature of the tender the company will be looking for a) a full carry to development and b) cash of c.30-40musd.

[katsy] 29/10/2024 09:43

replace ,,, with t.me

ADVFN doesn't allow telegram links

[blueeyes13] 29/10/2024 09:39

Sorry if this question already posted by someone but I'm new here. Is there a Telegram group for SEA?

[mrzippo] 29/10/2024 09:23

Chevron are not committed to drilling a well here. The committed costs are the 12.5 plus up to 15 on behalf of CEG for the 3D seismic, so up to 27.5 bucks to CEGs benefit. If seismic costs go above that CEG will have to start paying.If Chevron do opt to drill a well the partial carry is capped at 20 to CEGs benefit. Above that & CEG will have to start paying its share of drilling.

[devonlad] 29/10/2024 09:21

Am I correct in thinking that deal closes before the end of year?

[zengas] 29/10/2024 08:56

In terms of a possible cash element Chevron appears to be paying $67.5m here at this stage so how does this deal ie our 12,000 km2 Block 2A look in a world hot spot compare to Challengers 14,500 km2 offshore Area 1 block Uraguay in similar water depths with the Transaction completed today and a similar $40m minimum well cost.

We are already 50% covered by 3D ie some 6,000+ km2 3D worth well over $20m and drill ready for 1 major prospect minimum. Challenger isn't - their farmout is just progressing to 3D and not drill ready.

We have 1.7 - 3.7 billion boe in Kertang alone with numerous follow on prospects. Challenger/Chevron has 2 billion boe across 3 prospects.

Challenger are picking up $12.5m cash for the farmout. Bear in mind Chevron have to acquire firstly about $35m gross of 3D seismic.


The primary terms of the Transaction are:

· Chevron will acquire a 60% participating interest in the AREA OFF-1 block, and will assume operatorship of the block.

· CEG Uruguay will retain a 40% non-operating interest in the block.

· Chevron will pay to CEG US$12.5 million cash on completion of the Transaction, these funds will be used to support the further development of the Company's business (Completed today 29/10/24).

· Chevron will carry 100% of CEG Uruguay's share of the costs associated with a 3D seismic campaign on AREA OFF-1, up to a maximum of US$15 million net to CEG Uruguay.

· Following the 3D seismic campaign, should Chevron decide to drill an initial exploration well on the AREA-OFF 1 block, Chevron will carry 50% of CEG Uruguay's share of costs associated with that well, up to a maximum of US$20 million net to CEG Uruguay.

In basic terms Chevron pay $15m for seismic which would have been Challengers (40%) share meaning the 3D cost is actually a lot more - $35m+ immo - (we already have over 6000 km2 and drill ready.

So Chevrons immediate seismic cost is at least $35m. Paying $12.5m cash to Challenger and $20m for half the well cost. In total the farmout deal is costing at least $67.5m to chevron.

We hope to be fully carried for the well and some cash so i think the above considering all the associated costs bodes well for a good deal considering it's a world hot spot, nearby infrastructure, ready market, intense industry interest with majors in nearby blocks and the fact that we'd been approached from the outset.

[cashandcard] 29/10/2024 08:45

Great time to accumulate with partnering not too far away.Cash

[zengas] 29/10/2024 08:16

Not as much posting now so i think a lot of very short term and momentum traders will have moved on.

Following on from the excellent upstream article it reiterates as we know and what we've been told re more opportunities in the pipeline.

MBR anytime now.

While we only saw/heard word on a DRO mid year but not the actual named DRO. We were able to find out a lot earlier by looking at the Companies house website showing the new registered subsidiary in the name of the DRO/Asset ie DEWA as early as late March last year - worth keeping an eye out on sources other than from the company as i'd expect similar ahead.

These other growth avenues are going to be a significant driver of value due to the still very low m/cap in the scheme of things.

With the low float, too risky imo and for my own strategy to sell and try and buy back in, as someone else might have snapped up your stock you hope to get back.

Plenty of newsflow to come and worth bearing in mind their recent statement last month we were told of 'Multiple, near term catalysts ahead' in terms of value.

[smraynot] 28/10/2024 19:51

Get what you pay for in life.Worth every penny for upfront news imhho.

[ohisay] 28/10/2024 15:12

Yes its a bit pricey !

[smraynot] 28/10/2024 13:22

With current and expected news flow share price cannot stay at these levels for long.

[ohisay] 28/10/2024 11:38

With the ink barely dry on its latest production sharing contract in Malaysia, UK independent Seascape Energy already has its sights on other upstream opportunities in the country and within Southeast Asia.

Seascape executive chairman, James Menzies, compared the vibrancy and welcoming investment climate of Malaysia's E&P scene with that of the UK today.

'There are plenty of opportunities ..we are being approached by Petronas ...they want us to come and evaluate opportunities that they have'

[katsy] 28/10/2024 10:23

Profit taking is very healthy for any stock when it's bagged a couple of times.

[smraynot] 28/10/2024 10:14

Market makers having a fun day. A little profit taking before the next hike up.Finish 40p+👍