Business
Audited Full Year Results to 31 December 2025
Seascape Energy Asia PLC reported its audited full-year results for the 12 months ended 31 December 2025, showing a total profit for the year of £5.4 million, a significant improvement from a £16.4 million loss in 2024, primarily due to proceeds from a farm-down. The company ended the year with £6.3 million in cash and no debt, and has since raised approximately £5.0 million. Seascape Energy has established itself as an independent player in Malaysia with interests in three gas-weighted Production Sharing Contracts, holding net 2C contingent resources of 64 mmboe and unrisked net mean prospective resources of 324 mmboe, positioning it to become a significant gas producer in Malaysia by 2028 with potential production exceeding 20,000 boepd. Disclaimer*
About this update from Seascape Energy Asia Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 596/2014 AS AMENDED AND TRANSPOSED INTO UK LAW IN ACCORDANCE WITH THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (\"UK MAR\").\n21 May 2026\nSeascape Energy Asia plc\n(\"Seascape Energy\", the \"Company\" or \"Seascape\")\nAudited Full Year Results to 31 December 2025\nSeascape Energy, an E&P company focused on Southeast Asia, is pleased to announce its full year results for the 12 months ended 31 December 2025.\nHighlights\nCorporate\n· The Company is now established as an independent player in the Malaysian upstream industry with interests in three, gas-weighted PSCs':\no Temaris Cluster (SEA 100% PI): two gas discoveries offshore shallow water Peninsular Malaysia, awarded in June 2025 with net certified 2C resources of 46 mmboe certified and net mean unrisked Prospective Resources of 158 mmboe;\no DEWA (SEA 28% PI): located offshore, shallow water Sarawak, Eastern Malaysia, with certified net 2C resources of 18 mmboe and operated by EnQuest plc; and\no Block 2A (SEA 10% PI) located deepwater offshore Sarawak, Eastern Malaysia, the giant Kertang prospect contains certified gross mean unrisked Prospective Resources of 1.7 bnboe with Seascape fully carried on an exploration well drilling mid-2027.\n· An updated CPR has confirmed the Company's total net 2C Contingent Resources of 64 mmboe (97% gas) (2024 nil) and total unrisked net mean Prospective Resources of 324 mmboe (99% gas)\n· Seascape's existing portfolio will see it become a significant, gas-weighted producer in Malaysia by 2028 with production potential in excess of 20,000 boepd at current equity levels.\n \nFinancial\n· Year end 2025 cash of £6.3 million (2024: £2.8 million) including restricted cash of £2.1 million (2024: £0.5m), nil debt (2024: nil)\n· Unaudited cash balances of £8.5 million as at the beginning of May 2026 following a successful placing, subscription and oversubscribed retail offer to raise gross proceeds of approximately £5.0 million\n· Group operating loss of £4.4 million (2024: £5.8 million)\n· Total profit for the year of £5.4 ...