Business
JV Approve Drilling of the Kertang Prospect
Seascape Energy Asia plc announced that its joint venture partners have approved the second exploration phase and drilling of the Kertang prospect in Deepwater Block 2A, offshore Malaysia, pending Petronas MPM approval. The Kertang structure has over 200 km2 of four-way dip closure and unrisked mean prospective resources exceeding 9 TCF. Seascape anticipates the Kertang well will be part of a wider deepwater exploration drilling campaign across multiple blocks in Malaysia during 2026 and 2027. Seascape retains a 10% participating interest and is fully carried by INPEX CORPORATION through the second exploration phase. 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\").\n \n13 October 2025\n \n \nSeascape Energy Asia plc\n(the \"Company\", \"Seascape Energy\" or \"Seascape\")\n \nJoint Venture Partners Approve Drilling of the Kertang Prospect\nSeascape Energy, an E&P company focused on Southeast Asia, is pleased to announce that the joint venture partners in Deepwater Block 2A PSC (the \"PSC\" or \"Block 2A\") located off the coast of Sarawak, offshore Malaysia, have approved entry into the second exploration phase of the PSC and drilling of the giant Kertang prospect, subject to Petronas MPM formal approval. \nFormal commitment allows the joint venture to now focus on securing a suitable drilling rig and identifying the precise drilling location to test the Kertang structure which has over 200 km2 of four-way dip closure and total unrisked mean prospective resources in excess of 9 TCF, based on a CPR undertaken by ERCE Sproule.\nSeascape anticipates the Kertang well to be part of a wider deepwater exploration drilling campaign across multiple blocks in Malaysia during 2026 and 2027 to be undertaken by Block 2A operator INPEX CORPORATION. Seascape will provide further details regarding the anticipated timing of drilling once available.\nThe second exploration phase includes a firm, minimum work commitment of one wildcat exploration well and one contingent appraisal well. Seascape, through a wholly owned subsidiary, remains fully carried by INPEX CORPORATION on an uncapped basis through the entire second exploration phase on its retained 10% participating interest, providing shareholders with material exposure to the Kertang prospect at nil cost.\nInvestor Meet Company\nThe Company will host an online presentation: A Subsurface 'Deep Dive' into Seascape's Malaysian Portfolio via Investor Meet Company today, 13 Oct 2025, 09:30 BST.\nThe presentation is open to all existing and potential shareholders and provides investors with further insight into the subsurface aspects of its portfolio following the publication of its Competent Persons Report on 19 August 2025.\nInvestors can sign up to Investor Meet Company for free and add to meet SEASCAPE ENERGY ASIA P...