Member Info for Deeko19

Good post Zebbo, one point though;

a giant field, the size of Kertang, would likely be on production at gross rates of 1 - 1.5 Bcf, 100-150 MMscf net (25 mboed) excluding any condensate or liquids produced.

I make that $337,000,000 net excluding taxes and government take. Assuming we get 40% post outgoings. That’s $135,000,000 per annum from Kertang production alone.

IMO, if the company plays it right, they very well could achieve another £900,000,000 company over the next3/4 years excluding any additional assets! Lots of unknowns obviously but easily the best ‘high risk’ (use that loosely given we are already undervalued) investment on AIM.

Price action over the week. Just waiting on the institutions to join in and we are off to the races.

Looking forwards to the news cycle over the next 1-3 months

DEWA CPR

Temaris CPR

Acquisitions(?)

2A firm drill date

GLA

It has literally been less than 1 year since the company was rebranded. What are you talking about Savv?

In that year, we’ve become debt free, farmed out Kertang and been awarded a DRO?

I’d argue that’s fast personally.

Agreed, noted they added an additional employee. Head of development (or something along those lines).

It’s slow and steady here but been adding too. Again, production acquisition is the next key moment for Seascape, there are plenty of assets out there just waiting for a carefully thought out price structure.

*170 mmboe.

This only works out at 3.5 mmboe net to the old longboat company. Not the whale we are chasing! Kertang is well north of 100 mmboe p50 + add ons

Producing asset should be the number one priority.

Once that’s settled, all the foundations are in place for a monumental SP increase over the next 2 years.

Easily the most exciting company on AIM

This board is bloody boring. 15+ posts a day and not one informed, well researched post.

Just constant bickering between what I’m assuming is people with too much time on their hands.

P.s last time I bought Tullow my first buy was at over 70p, bought all the way down to 9p and rode the wave back to 45! Only mistake was not selling at 60!

Some silly talk here today of 8p. Let’s be honest at 8p the interest would be far too high for any of us mere private investors to grab any.

The only tried and tested way of making money on stocks is cost averaging. You’ll never time the price perfectly and you’ll never get the timing right so why bother trying. Just take the 10k, split it into 4/5 or 6 tranches and buy each tranche when you feel it’s a good opportunity.

These guys are talking about 55k boepd, a far cry from what it was but still big numbers and profitable. I’d like to see them make an acquisition this year

Anton, can’t believe you are still here!

Back in today, with a small purchase. Going to build a Minor position here over the next 6 months or so. I’d like to see a change in strategy here, Rhaul’s plans of holding Ghana steady and building some stability worked for a period but as the ‘best’ sections of Jubilee have been drilled, those returns will deminish. I believe there are better barrels out there than could have been bought for much cheaper and led to growth rather than a flat profile.

Let’s see what the future brings here. Hopefully it’s not one of

Oiltdr,

Sorry maybe didn’t make this clear. The field has a substantial tail past 2033 (I believe). I think petrofac own 30% of the field so gross is closer to 8000 boed.

The PCS expiring was just meant to flag that it’s due to expire for Petrofac but obviously it can be extended. If they don’t see value in the region in terms of being an operator then given the restructuring they’ve been through and possible downsizing of operations. It may be one that’s available to a ‘new’ operator under enhanced terms.

Either way, excited to see what the board get upto!

Half our Mcap in cash pretty much now (or very soon).

Most small and medium M&A deals close with net cash towards the buyer. This is usually because the production accrues between announcement date and closing date.

PM304 seems like the obvious acquisition choice.

Non core asset to Petrofac, 2500 boed net. PSC expires in 2026. Makes sense for Seascape to approach them. Hopefully they are looking at this because that would be the production springboard we need.

Seen this! Looks great.

Half our Mcap coming in cash with the next 8 weeks too!

Could do with an update from the company in the next month just to set strategic ambitions for this year. Production acquisitions have been mentioned many times and now feels like the appropriate time to push this.

Personally, I’m expecting a production acquisition to feature highly this year. Something in the 1000-3000 boe range would be ideal. Lots of regions for these guys to be scouring across SE Asia.

Hope these guys continue to stamp on the gas peddle this year.

-farm out approval and cash

-Production acquisition should be top priority.

-FID on DEWA

-Award of an additional DRO

-move into a new region (Vietnam, Indonesia, Australia etc)

Lots to look forward too.

I feel this will just be a slow rise upto 45p now until Feb 2025. With news pushing us into the 50’s.

If I’m wrong and there are any meaningful dips I’ll continue to build my holding.

Sit back, relax and switch off

Most of the registered sells have been buys based off the dummy buys I’ve been putting though over the last 2 days.

Picked up a tranche at 35.15 when the bid was at 36p and the ask at 35p. Never see that one before! But happy to keep tucking these away.

Indeed. Incredibly easy money for the patient. £12 million cash resource, cash burn of £3 million a year. 4 years worth of cash.

Drilling the largest structure in Malaysia in ~12 months. Could be sooner depending on whether they run with the Petronas rig or could be later if INPEX bring one in.

Low cost work on DEWA FID next year and low cost development.

Looking for a ‘train’ of DRO’s and proven they can bring in partners with the resources and experience to develop these.

Production acquisition(?)… probable hence Geraldine coming onboard.

Again, incredibly easy money for the patient.

As an open question to everyone;

If the cash payment for farm out was due tomorrow, FID of DEWA the following day, award of new DRO the day after that, small producing asset acquisition as a maybe and spud of Kertang the day after… what is SEA valued at?

Many many multiples of today’s price would be my guess…but I’m going to assume a measly 70p. DRO award and producing assets are maybes but the rest is nailed on. So patience and some element of switching off is worth at least 100% in the next year. Fully funded so easy money IMO