Member Info for Thunder2040

Taking circa £600m off mcap when provisions were £140m makes little sense. They have been winding down projects anyway and moving away from lump sum. The baths currently doesn't stack up

The share price can't be allowed to lose 60% and the board say nothing on a company this size. Expect more comms

Hardly any more information than last time and low end of guidance, I'm skeptical about this one. CFO leaving another red flag. I am unsure which way it will go, could rally if the bleeding has been stemmed but a lot resting on what BlackRock are doing

Doesn't make a whole lot of sense to me again..some weird moves on these Malaysian focused shares ATM why are they selling into potentially transformational news of farm out due soon? They are not daft so surely they see a risk to holding 6 more weeks..I suppose they don't want any exposure to SE Asia so may be mandated to sell but seems very odd

It's really a head scratcher at current this one. I don't get how it why Petros tilted from favouring a fast PSC with Upland to wanting to drag it out over a year and not put the drill bit in the ground until 2026!? I mean what exactly changed to prompt that about turn and claim they will do more seismic and put it out for tender..seems fairly illogical. Then you have all the Directors and strategic investors in Malaysia piling in after this negative news..so what they either don't believe it goes to tender or that upland are best placed to win a tender. Something more to it in my opinion.

I know what alarm bell is ringing in my head now but not posting it.

Is this carillion what the hell! This is going too far, surely board needs to clarify

Furthermore with a balance write down if that size there will be control weaknesses reported in ISA 260..the review around that is probably due to size of the write downs. But again it's water under the bridge imo. I could be wrong but I think the board needs to clarify this

What I really don't get is.. guidance reiterated and no review of current order book. Yes if £1b impairment goes through this year it may have existed at py balance sheet date so restatement could be required but it's non cash and also doesn't impact the current written down balance lol.

How does prior year restatemrnt if non cash impairment impact current balance sheet...I'm struggling to see. I don't think it does. Yeah last year may have been overstated but no mention of current year review or future charges. Says looking at controls which I think is prudent.

Well now we know why all bidders walked away I guess

It's true but it's also not really even debatable from most angles. Simple buy n hold. If it was flakey I'd expect more back n forth

For my investment thesis here there is definitely a third dimension to it..a wildcard so to speak given we know Petronas keep coming to Seascape with other ideas

Artemisa...I think some spammers have alterior motives by posting so frequently. Burying valuable information about how undervalued Seascape actually is would be worthwhile for a stakebuilder.

Seen it many times, huge volume taking it up and then a drop on lower volume..I do think it's materially undervalued but needs another bit of news on farm out to push on

Well with a farm out expected pre Christmas and the value of assets now held already 75-100p I think selling now is mad but yes some chasing instant gratification

There is a seeming lack of patience as usual with AIM stocks plus a residual seller from last week IMO. Nice opportunity for a top up, I question why rational investors would sell prior to an imminent farm out and why in earth Valutrader thinks a raise prior to a farm out for part cash would been likely?

I really rate the Enquest team so I'm glad they are involved with Seascape in DEWA. I can't help but think personally these fields have more value to Enquest than the market has realised though..they throw off cash due to massive tax losses, so having them involved is a real plus point for me.

I'm surprised Enquest hasn't moved up more, the DEWA assets are still not even priced correctly here let alone the farm out drill prospect

A few things I like:

The DEWA costs net to Seascape are £600k over next two years, so manageable whilst financing options or other assets are awarded

With 28% holding across so many plays in the award it could be game changing.

I think for the initial drill and dev they could farm out half their stake to Enquest and pay for rest with debt

The cash they could secure from the current farm out negotiations could exceed the mcap here based on similar deals recently.