Seascape Energy Asia Plc · LSE:SEA
Seascape Energy Asia — FY2024 Earnings Presentation
12 slides from Seascape Energy Asia's earnings presentation, May 23, 2025
Slide 1: Full Year Results
Full Year Results for the year ended 31 December 2024 23 May 2025
Slide 2: Disclaimer
Disclaimer Read the fine print & DYODD 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 Seascape Energy Asia plc (the “Company”). This presentation
Slide 3: Board & executive
Board & executive Significant regional experience James Menzies Nick Ingrassia Pierre Eliet Executive Chairman Chief Executive Executive Director, Chair Malaysia • Salamander Energy (Founder/CEO) • Salamander Energy (BD Head) • IPC and ROC Oil Malaysia • Coro Energy, TAP Oil • DNO, Longboat, Faroe,
Slide 4: From surviving to thriving
From surviving to thriving Significant value growth achieved post-pivot to Southeast Asia Share price performance from Jun-21 (p/share) 100 90 80 70 60 50 +332% 40 -77% 30 20 10 0 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 4 Source
Slide 5: Focused on growth
Focused on growth Taking Seascape to the next level Pivot to Southeast Asia complete, significant progress in short timeframe • Malaysian portfolio taking shape: • uncapped carry for exploration drilling programme on giant Kertang prospect (Block 2A) • material stake in DEWA gas cluster development
Slide 6: Seascape overview
Seascape overview Base portfolio established in Southeast Asia, primed for growth London-listed (SEA) limited peer group High Impact Exploration Discovered Resources Block 2A: Kertang Gas cluster development SE Asian focused a 9 TCF giant 300-400 bcf recoverable large opportunity set Experienced tea
Slide 7: Results highlights
Results highlights For the year ended 31 December 2024 Full year results cover a period of significant business transition • Sale and exit from Norway has major impact on financials due to equity accounting and subsequent write-off following joint venture sale Operating loss significantly impacted b
Slide 8: Financial review
Financial review Results reflect a transitional year during 2024 Financial review (£ millions) FY2024 1 Other income £0.9 management fees from Longboat JAPEX includes significant non-recurring costs from 2 Operating loss (before tax) £5.7 restructuring and transactions 3 Loss from discont’d ops £10.
Slide 9: Cash bridge 2024
Cash bridge 2024 Significant cash position post farm-out completion Post period end Full year cash movement (£ millions) £12.0 £1.3 £10.0 £8.0 £8.5 £6.0 £10.0 £4.0 £0.3 £2.0 £2.8 £3.3 £1.1 £1.8 £2.8 £0.0 -£2.0 Cash @ CF from Norway sale Equity raise 3 Restricted cash Cash @ Farm-out net Expenditure
Slide 10: Actively pursuing material growth
Actively pursuing material growth Prime opportunities remain across Southeast Asia Significant up-tick in regional licensing round activity in past ~12 months • Capitalising on European malaise? • Modest-but-increasing competition Onshore exploration – possible offshore H2? 1st BARMM Round • Cheap a
Slide 11: Time for next step…
Taking Seascape to the next level Summary Pivot complete Limited peer group Foothold established Time for next step… Hard value + nil-cost blue sky upside Grow where we have a role to play Deep regional network Competitively advantaged in Malaysia Data, reasonable costs & timeframe Lean & effici
Slide 12: seascape-energy.com IR@seascape-energy.com @SeascapeEnergy
seascape-energy.com IR@seascape-energy.com @SeascapeEnergy Seascape Energy Asia