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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Seascape Energy Asia Plc | LSE:SEA | London | Ordinary Share | GB00BKFW2482 | ORD 10P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| -0.50 | -1.52% | 32.50 | 573,407 | 15:48:38 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 32.00 | 33.00 | 34.00 | 32.50 | 34.00 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:21:41 | O | 2,500 | 32.50 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 09/12/2024 | 17:00 | UK RNS | Seascape Energy Asia PLC Holding(s) in Company |
| 05/12/2024 | 09:28 | UK RNS | Seascape Energy Asia PLC Holding(s) in Company |
| 02/12/2024 | 17:08 | UK RNS | Seascape Energy Asia PLC Notification of PDMR Share Purchase |
| 02/12/2024 | 12:11 | ALNC |  Seascape Energy raises GBP2.0 million to close Malaysian farm-out deal |
| 02/12/2024 | 07:01 | UK RNS | Seascape Energy Asia PLC Placing and Subscription |
| 02/12/2024 | 07:00 | UK RNS | Seascape Energy Asia PLC Successful Block 2A Farm-Out |
| 12/11/2024 | 13:12 | UK RNS | Seascape Energy Asia PLC Holding(s) in Company |
| 21/10/2024 | 14:49 | ALNC | EnQuest and Seascape Energy Asia win DEWA cluster production contracts |
| 21/10/2024 | 07:33 | UK RNS | Seascape Energy Asia PLC Award of DEWA Complex Cluster SFA |
| 30/9/2024 | 13:33 | ALNC | IN BRIEF: Seascape Energy Asia loss widens; focuses on strategic pivot |
Seascape Energy Asia (SEA) Share Charts1 Year Seascape Energy Asia Chart |
|
1 Month Seascape Energy Asia Chart |
Intraday Seascape Energy Asia Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 20/12/2024 | 16:06 | Seascape Energy Asia plc | 467 |
| 17/12/2024 | 08:10 | SEA - Pile of stinking shite | 2 |
| 26/10/2024 | 22:06 | Seaenergy - Offshore wind - plus a little oil & gas (moderated) | 32,460 |
| 09/10/2015 | 16:19 | Seaenergy 2010 - moderated by a man not a monkey | 187 |
| 04/6/2015 | 16:19 | Sea Energy PLC - Offshore wind energy | 5,517 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 2024-12-20 16:21:43 | 32.50 | 2,500 | 812.50 | O |
| 2024-12-20 16:21:43 | 32.50 | 2,500 | 812.50 | O |
| 2024-12-20 16:21:32 | 32.20 | 2,000 | 644.00 | O |
| 2024-12-20 16:21:30 | 32.00 | 2,000 | 640.00 | O |
| 2024-12-20 16:21:28 | 32.00 | 4,000 | 1,280.00 | O |
| Top Posts |
|---|
Posted at 18/12/2024 09:56 by zengas Couldn't see them buying SEA in any shape or form unless 2A came in on a drill result and even then it would be pricey and competitive.Why would they pay 70p or £42m/$52m for SEA when they picked up 42% of DEWA as well as operatorship for virtually nothing/same terms as SEA - versus SEAs 28%. They're likely to pick up something similar possibly in the next bid round at near nil cost without having to buy up SEA at that kind of money when they can both bring assets to the table and derisk them on a reasonable percentage share each. They have enough to be doing imo with their cash flow and net debt stands at $321m end June. Their own valuation never shifted on the much greater DEWA award to them. |
Posted at 02/12/2024 18:41 by mirabeau 'Today’s announcements from Seascape confirm a fantastic farm-out of Block 2A offshore Sarawak, Malaysia to Inpex Corp whilst also landing a useful raise which will take the company through the completion of the deal and take them through to operational activity which in my view will make Seascape a hugely valuable company.The mechanics of the twin announcements today make a great deal of sense and by releasing a good farm-out along with a raise that includes existing and new shareholders as well as a very decent injection from directors shows their confidence and giving skin in the game. Seascape has impressed with its first rate relationships in South East Asia which have led to being awarded this very hot acreage when other, larger, more financially powerful companies may have expected to have been chosen. To have now made this strong deal with Inpex rewards the trust shown by the Government and will bring in a powerful partner whilst allowing Seascape to keep a stake in a potentially huge field and thus reward shareholders significantly. To put this in perspective Seascape has a free carry on a huge well at no cost to them, costs are uncapped so they have no worries about costs going above budget and if the well should come in there is every chance that their 10% of a discovery could be a massive, company game-changer and that could see the company valued at a huge premium, either by the market or by one of the many E&P companies circling in the area. Also with such a good start, more deals or licences in such a good post code might be just the start for Seascape. Readers will know that when James Menzies announced that the was establishing a long SE Asia/ short Norway policy back in June that I went all in, advising shareholders not to wait for any shilly shallying around and that a ten bagger was the very minimum from the 6p level then. Now, having raised money at 35p my view will have to be changed as a run to 60p and that ten bagger is looking like too conservative a target. So, if the well was to come in I would expect a very minimum of 600p possibly more and so will set a shorter term target of 350p being a ten bagger from here. ' |
Posted at 02/12/2024 14:51 by jungmana We had a mute share price reaction on the day of the Dewa award news and it was on the following day after the presentation that the share price took off.Have added a few about 38p as this is a long term hold for me with my average about 16p.Superb deal imo. |
Posted at 02/12/2024 10:54 by darcon In my view the deal is an excellent one. There remains enormous transformative upside. Trading a portion of that prospective upside so that SEA succeed in building a balanced E&P business with a range of near-term and longer-term opportunities some of which will generate cash in a shorter time-frame is a wise and prudent move.The £2m placing gives SEA the cash to work on more value accretive deals in SE Asia. The deals done in SE Asia thus far demonstrate that their team can acquire high quality prospective acreage at low-cost and farm it out retaining valuable upside. Two farm-outs now to two high quality E&P companies within a year is great. My guess is that SEA will have deals lined up to deploy part of the £10.5m effectively as soon as that money lands upon completion of the Block 2A farm-out. SEA don't control the regulatory authorities in Malaysia/Sarawak. The delay in the anticipated DEWA farm-out announcement by intra-government negotiations slowing regulatory consents showed that delays can happen even if the government is in favour of a deal. So it's very sensible of SEA to raise some cash now to fund their burn-rate while they wait for the farm-out cash to further build their business with more value accretive moves to come. |
Posted at 02/12/2024 07:55 by ohisay Cavendish this morning ..Seascape has successfully farmed out a 42.5% participating interest in Block 2A to Inpex, in a deal worth up to cUS$38m (c1.4x Seascape’s market cap). The farmout not only secures Seascape’s future, but also creates a platform for future growth, allowing Seascape to retain material exposure to the significant upside associated with drilling the 9Tcf Kertang prospect at nil cost. We increase our target price to 85.0p, c2.3x the current share price. |
Posted at 25/10/2024 14:13 by someuwin Cavendish 21 October 2024Growing 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." |
Posted at 25/10/2024 08:51 by devonlad someuwin22 Oct '24 - 09:07 - 88 of 188 0 11 0 From Cavendish yesterday... 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. Potential valuation of £1.00 + £14.65 = £15.65 per share. Almost 100 fold from current 16p. I think they are looking for a lot more, these opportunities don't come around very often! |
Posted at 22/10/2024 19:23 by zengas Cash - On the geological risk - Don't skip doing the research on the analogues that SEA have provided in their presentations all the way through. Provided for that very reason and why they're analogues and displaying the same characteristics to other multi tcf giant field discoveries. I posted on these back in June when it was covered in the earlier presentations.They have used Kasawari (it's own gas chimney/clouds on seismic), Lang Lebah and Majoram as analogues (Slide 11) . A must to read the actual reports/science/refe All 3 analogue fields are sour/C02 rich yet in development (1 now producing) 120,000+ boepd each field. Majoram was hidden by a large gas chimney and there is detailed references to seal integrity but the chimney/leakage was a dilation of fracture induced by the 455m gas column in the reservoir responsible for the leakage. A lot of this is technical stuff so i doubt if the board could just explain it that easily in a 1 hour presentation hence the references there for everyone to go research it. This is a 3 TCF gas field bringing on 800 mmcf/d production. Likewise again all similar to the gas clouds/chimney at the huge Kasawari field. Again worth reading about Lang Lebah and the source material provided ' Unravelling an abandoned giant - success story of Lang Lebah' - all there in slide 11 for further reading. I think the chances here are very fair and in the above context i'm not concerned about any instances of leakage/chimneys - all imo good indicators of gas being there and the fact that the seabed geochem samples show very low to no CO2 and high methane is a big positive. Take also in context where Rystad Energy have predicted the breakeven for Kasawari may be as high as $5.50 mcf or an extra $3 billion just to deal with the near 40% C02 concentration makes Kertang and the rest of 2A one hell of a very important play and a piddle in the ocean for a well being drilled out of the majors and others budgets for the gas hungry SE Asia market. I think i was very conservative in my original $3/boe valuation on a success case when considering the huge costs in some other fields. But for now and on a seperate value path i see DEWA and it's additional upside to come along with a future addition of another of these assets making us a £100m+ company on it's own. Imo one of the best calculated risk stock to hold from this extremely low valuation by comparrison ie £12m m/cap at 21p. Yesterday and todays presentation saw the board place an expectation of £800m+ net for Kertang on that success basis - so no doubt we're chasing around £1b value creation target. |
Posted at 22/10/2024 10:07 by arcteryx Excellent presentation. Very exciting times ahead.I noted JM's thoughts on current lowly share price also contained the element of overhang from IIs who have been selling out due to them switching focus from North Sea to SE Asia. I'm hopeful of a phoenix like rise from the share price ashes soon, but have been grateful for the chance to load up recently at these levels! |
Posted at 22/10/2024 08:07 by someuwin From Cavendish yesterday...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. Potential valuation of £1.00 + £14.65 = £15.65 per share. Almost 100 fold from current 16p. |
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