Seascape Energy Asia focuses on oil and gas exploration, targeting high-impact prospects in the North Sea. The company aims to unlock value through strategic drilling campaigns and partnerships in this prolific hydrocarbon region.
Very quiet here, i assume noone has bought into this one, same as iOG ?
Up almost 12% (so far) today. Shame noone seems to have bought in as its cwrtainly looking good
What do you know about it?
Not too much, thats why i posted here asking if anyone has already bought in. To start a disussion about it. Seems to be flying today tho. Maybe been some good news?
I’m not sure about news I’ve not seen any except reports from last week. But a small jump today looks great until you look as their share price over the last year
Just took a look at L.S.E. chats room (i was actually checking up to see if there were any new TM1 rns) and looks like a fair bit of chat on the L.S.E. chat for LBE… might take a deeper dive and read through it all after work.
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This is due farm out news in Q4.
Largest undrilled Malaysia block. UPL’s market cap is huge and these guys are far more advanced than them. 8m cap and circa 2/3m cash looking at interims
Worth some research maybe ., just an idea
The Company entered Malaysia in the Malaysian Bid Round 2022 by winning operatorship of a Production Sharing Agreement for Block 2A (the Company 36.75% (subsequently increased to 52.5% following the Topaz acquisition, completed in December 2023)). This deep-water exploration block, offshore Sarawak, covers an area of more than 12,000 km2 and contains material exploration opportunities with an associated low initial cost obligation with up to three years until a drill decision.
Block 2A contains the giant Kertang prospect and the Company commissioned ERCE to undertake a competent persons report (“CPR”) to confirm the potential size and risk associated with Kertang, believed to be one of the largest undrilled structures in Malaysia. The CPR, which was completed in June 2024, confirmed the giant scale of the Kertang prospect assigning total gross, unrisked mean prospective resources of 9.1 TCF plus 146 mmbbls of Natural Gas Liquids (“NGLs”) across the four target horizons.
Following recent increased interest levels in exploration for world-scale fields, multiple large companies have approached the Company regarding Block 2A. Having consulted with PETRONAS, the Company has commenced a farm-out process to identify a suitable partner.
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From a few weeks ago… time drawing close.
The operator’s short-term focus is on its Malaysian operations. Seascape is in talks to farm out equity in its Block 2A asset offshore Sarawak with the deal expected to be executed in the fourth quarter, and it is continuing negotiations for a shallow-water production sharing contract — believed to be the DEWA DRO, also off the Sarawak coast.
This Discovered Resource Opportunities PSC could be awarded within weeks, the company recently said.
As recently highlighted in our interims presentation, Indonesia continues to be on the front foot to drive investment into its upstream industry.
News today.
Seascape Energy Asia PLC Award of DEWA Complex Cluster SFA
#SEA Seascape Energy, an E&P company focused on Southeast Asia, is pleased to announce that it has been awarded a 28% participating interest in a Small Field Asset Production Sharing Contract (“SFA PSC”) over the DEWA Complex Cluster (“DEWA” or the “Award”) off the coast of Sarawak, Malaysia. The Award was made under the Malaysia Bid Round Plus (“MBR+”) by Petroliam Nasional Berhad (PETRONAS) (“PETRONAS”) through Malaysia Petroleum Management.
Partner with Enquest as operator, now awaiting Farm out news in Q4 on Block 2A. Cash and free carry would be the ideal scenario.
From Cavendish note today on block 2A
“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 261 mmboe. At $4/boe this would equate to a potential unrisked value of £14.65 per share net to Seascape.”
There is little doubt that Chairman James Menzies has really pulled off a very smart deal indeed here and whilst for one or two of us it took a little longer to deliver that is nothing in the big picture of creating value in a very small entity.
It also proves that with limited up front funds but with considerable local experience and knowledge of the landscape significant packages of acreage can be put together. With massive local discoveries and substantial nearly infrastructure including a pipeline network Seascape looks to have pulled the rabbit out of the hat.
The JV have very little prep work to do, Mr Menzies tells me that there is masses of data, multiple 3D seismic and 35 wells worth of logs and DST’s etc to analyse as the Malaysian state has decided to let new companies access these smaller fields and to develop them and the terms reflect that.
This is a real company maker for Seascape and it may not be the last, given what has been going on elsewhere in the energy world it looks like the makings of a great portfolio, with limited costs and a lot of vision, there appears to be a lot of upside at the company.
Cracking investor meet company webinar.
at a pivot point in company. saying register juggling between Norway out and Asia investors coming in. Ramp up PR coming, Bonds and other finance in future, trying to avoid dilution. Early but sounds exciting.
Got them on a watch list, not in currently though.
Big surge of fomo today. But gives the patient time to research and let it settle down over next week or so. You know how it is Andy 
Oh ai, day trippers a little excited
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Still going! Another 24% now. Wider market seems to have cottoned on to what I was saying couple weeks ago above. Finally!