Member Info for Deeko19

Keeptofacts… some thought process!

Strong buy pre-farm out, strong buy at farm out and strong buy post-farm out which is why I’ll continue to grow my position.

Let’s be honest, the true value here is >£1 right now. But it really depends what your strategy is when investing. I personally try to stick to a ray Lynch style investment strategy (not that I’m anywhere near as good as him) which is value based and uses the below philosophy:

-invest in what you know

-find a company with strong management and a strong story behind it

-find a company with a significant value proposition and invest long term.

-when others are selling, that’s the time to double down

Others chase momentum. Take a position pre news and sell on news. Get 20% return on a good trade and move on. Human psychology strongly pulls to the short term hence why you see shares drop routinely for no real reason.

Both methods get results, value investing has been shown many times to deliver the best results time and time again.

The best investors the world has seen have all written books you can buy for less than £10… but the vast majority of investors still pay for online ‘get rich quick’ courses…

I personally see many more catalysts that will push this on short term and see this being a completely different company, with producing assets, by the time Kertang spuds. Menzies has shown he can pull rabbits from hats many times.

I’m not here to research for you Paul…

https://www.inpex.co.jp/english/news/assets/pdf/20241202.pdf

As a guess Ash, I’d say Menzies has been conservative with the closing date following the delay with DEWA last summer.

INPEX are clearly all in, the RNS they released tells you that, they speak of building a larger holding in their key area of Malaysia. When the cash lands, this is going North regardless. When DEWA is FID’d this is going north some more, when the drill bit turns on Kieran’s, this is going North. There’s very little that will keep this down other than impatient traders.

I’m happy to mop up a bigger and bigger holding because there is only one direction this will go. 5-10p swings mean nothing when the target is £2-4 :) within 12-18 months

Wouldn’t waste your time keeptofacts.

These people come and go. It’s just part of the cycle.

Price is a bargain once again and I’ll continue to buy!

Menzies… 2A value to Seascape ‘8…9…10 quid a share. It’s huge’

Been doing the same myself Jung.

The day to day price is irrelevant here. Regardless of dips and highs. The short, mid and long term trajectory is far north.

The company has gone from being a high risk high reward to a low/mid risk high reward company on the back of the RNS today!

To be clear though. The farm out deal is exceptional.

Ash, I wouldn’t see this as a concern.

Menzies and the team have delivered on every aspect. Every milestone they’ve mentioned (dewa, farm out free carry and cash) they’ve hit to date. The risk profile here has shrunk considerably from 3 months back.

This also didn’t move on announcement of DEWA then started to motor on 1/2 days later. I expect this to be significantly higher in the coming months.

Once the company begins to drive a message they are reviewing producing assets then it’s game on IMO. They are ambitious, well connected and have a track record of delivering what they say.

Again, slightly disappointed with the placing today given we have liquidity till March but the market being heavily favourable to downside likely would have hammered us as we enter Q1 on ‘funding concerns’ bots

Fantastic RNS.

Fully carry and appraisal well carry is exceptional. Upto $20.5 million cash.

Feel they could have waited for another day to place though. But the company has zero liquidity issues going forwards. No brainer from here

Well done!

I too am thinking Total. In the form of SapuraOMV.

They’ve chosen to use a 5% CoS. They also have a target of £8.38 on the upside.

Always happy to see weak hands fold.

Ok Youngjun. You have your take and I’ll have mine.

Internal estimates will largely be the same across multiple operators. Gas down to is the same across all operators if the well is drilled which they are. Top reservoir pics may change somewhat across operators and would of course change the volume of top res isn’t drilled. Gas water contacts may be subjective but usually confined to a fairly small uncertainty range if wells are drilled… which they are.

Untested gas zones is taken from a line in which they refer to estimate additional reserves they have not included in the 500 bcf.

Reserves on these fields are widely known and available for those with the willingness to research.

Youngjun, the recent rise is irrelevant. This is the problem with the markets… people look at a share price without the holistic picture. Look at the actual Market cap vs assets.

75p is £40 million Mcap. Yet Seascape has the biggest undrilled prospect in Sarawak with majors clawing to farm in and assets with 500 bcf already proved.

Can finally start to motor on now this lead balloon is gone

Top question from me during the next investor meet is whether they have bid in the 2024 DRO round. Deadline was May 21st.

Regardless of the ‘risk’ the risk/reward here for me is substantial.

And as such, will continue to buy on any weakness.

I went down the same route of logic. Given the Topaz and LBE2a accounts have just been freshly audited in Oct and approved I’m struggling to see a reason why.

Apparently the company has 14 days from the resignation date to inform the market. Expecting a resignation and appointment RNS in one

Presumably this just a case of appointing a new auditor?