Seascape Energy Asia PLC · LSE:SEA
Seascape Energy Asia — Longboat Energy — Investor Presentation (February 2023)
14 slides from Seascape Energy Asia's investor presentation, February 2023
Slide 1: Company Presentation
Company Presentation February 2023
Slide 2: Disclaimer
Disclaimer The information contained herein has been provided solely for information purposes and does not purport to be comprehensive or contain all the information that may be required by recipients to evaluate Longboat Energy plc (the “Company”). This presentation and the information contained in
Slide 3: Overview
Overview Strategy • Build a significant cashflow generating full-cycle E&P company and deliver value to shareholders • Grow production and reserves through exploration and value accretive M&A Longboat entering major growth phase • Large Norwegian gas prospect, Velocette, drilling H2-23 • Awards in c
Slide 4: Executive Management
Executive Management • Ex-COO of Faroe Petroleum • Ex-Group BD Head Faroe Petroleum • +30 years’ international experience (Shell, • Prior BD roles at Salamander Energy, Valiant Paladin) Petroleum and banking roles with Morgan • Degrees in Petroleum Engineering (NTH Stanley and RBS University of Tron
Slide 5: Norwegian Portfolio
Norwegian Portfolio PL901 Rødhette 20% (Vår op) PL1016 Velocette 20% (OMV op) PL939 Egyptian Vulture 15% (Equinor op) PL293B Kveikje 10% (Equinor op) Norwegian Discoveries PL1182S Lotus 30% (DNO op) 2022 PL1100 Oswig 20% (OMV op) Kveikje PL1100C Oswig S 20% (OMV op) Oswig Discovery Firm well Source:
Slide 6: Malaysian Portfolio
Malaysian Portfolio SK2A Kertang 36.75% (Longboat op) Key SK2A Statistics • Central Luconia Discovery • Area:12,000km2 Firm well • Water depth:100-1,400m • Multi-TCF potential Recent award 5 6
Slide 7: Norway Asset Focus: Greater Kveikje Area
Norway Asset Focus: Greater Kveikje Area Kveikje one of largest Norwegian discoveries in 2022 Grosbeak Kveikje • Injectite reservoir with excellent quality Equinor Equinor (51%, op) Vega Wellesley Nova Neptune • Gross volume range: 35 – 60 mmboe1 DNO (29%) INPEX Idemitsu • Joint development of multi
Slide 8: Norway Asset Focus: Oswig Area
Norway Asset Focus: Oswig Area Oswig, HPHT discovery adjacent to giant Oseberg field • Successful sidetrack and production test (DST) in late 2022 OMV (40%) • Very large Gas In Place Volumes (GIIP): 100-215 mmboe1 Source (20%) • Focus on technologies to maximise recovery factor Wintershall (20%) Lon
Slide 9: Norway Asset Focus: Velocette
Norway Asset Focus: Velocette Setting Matchless • Cretaceous turbidite sands Triumph • Large fault blocks Vincent Velocette • Amplitude supported gas prospect Aasta Hansteen Sunbeam Volumes & Risk • Gross mean 177 mmboe1 • Chance of Success: 30%1 • Key risk(s): reservoir presence and quality Upside
Slide 10: Why Malaysia
Why Malaysia Opportunity set comparable to the North Sea 15-20 years ago st • High barriers for entry resulting in limited competition 1 • Backlog of undeveloped discoveries, significant remaining prospectivity • Strong, supportive regulator looking to establish new players Explorer of the Year Awar
Slide 11: Malaysia Asset Focus: SK2A
Malaysia Asset Focus: SK2A Large exploration block offshore Sarawak • Prolific Central Luconia province, outboard of recent gas discoveries • Total block area 12,000km2, water depth 100-1,400m • One of largest LNG terminals in the world located onshore (Bintulu) Longboat operator in strong partnersh
Slide 12: Near Term Activity Overview
Near Term Activity Overview Gross 2023 2024 LBE Prospect Resources Risk WI% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 (mmboe) Norway Transocean Velocette 20% 177 30% Norge Lotus 30% 27 56% Oswig S 20% - - Malaysia Kertang (SK2A) 36.75% - - Firm well Potential well 12
Slide 13: Summary
Summary KEY WELLS TO WATCH IN 2023 Longboat entering major growth phase • Large Norwegian gas prospect, Velocette, drilling H2-23 • Awards in Norwegian APA 2022 licensing round • Low-cost, high-impact entry into Malaysia via MBR 2022 Actively pursuing M&A opportunities • Actively monetising existing
Slide 14: www.longboatenergy.com
www.longboatenergy.com Longboat Energy @LongboatEnergy
Longboat Energy — Investor Presentation (February 2023) on 6ix