Seascape Energy Asia PLC · LSE:SEA
Seascape Energy Asia — Longboat Energy — Investor Presentation (November 2023)
11 slides from Seascape Energy Asia's investor presentation, Nov 10, 2023
Slide 1: Corporate Update
Corporate Update November 2023
Slide 2: Targeting full cycle growth in Norway & SE Asia
Targeting full cycle growth in Norway & SE Asia Longboat is growing a full-cycle E&P company in Norway and SE Asia • Six discoveries made in Norway since 2021 including several new play openers • First production acquisition in Norway (Statfjord Satellites) expected to complete before year end • Mat
Slide 3: Expertise in North Sea & SE Asia regions
Expertise in North Sea & SE Asia regions • Ex-COO of Faroe Petroleum • Founder/CEO of SE Asian-focused • +30 years’ international experience Salamander from inception to sale (Shell, Paladin) • CEO of Coro Energy and Exec • Petroleum Engineer Chairman at TAP Oil Helge Hammer James Menzies Chief Exec
Slide 4: North Sea & SE Asia Track Record
North Sea & SE Asia Track Record: Growth through acquisition & the drill-bit followed by corporate sale highlights highlights IPO (2003) IPO (2006) Maria swap to Petoro (NOR, 2011) Sinphuhorm acquisition (THI, 2005) Schooner & Ketch acquisition (UK, 2013) ONWJ & SES acquisition (IND, 2006) Blane & E
Slide 5: Unique transaction secures finance without dilution
Unique transaction secures finance without dilution JV transaction complete with JAPEX a 49.9% shareholder in x Group Structure Chart Longboat’s Norwegian subsidiary • Cash investment $20 million1 and $100 million, 5-yr financing facility JAPEX provides validation, expertise and financial strength •
Slide 6: Norwegian portfolio highlights
Norwegian portfolio highlights 2 Velocette play opener in underexplored basin 2 1 Well positioned with Kveikje discovery and further prospectivity in key fairway Kveikje Equinor (51%, op) Sjøkreps & Jasmine DNO (29%) DNO (40%, op) INPEX Idemitsu (10%) Longboat JAPEX (40%) Longboat JAPEX (10%) Petoro
Slide 7: Kertang: undrilled gas giant
Kertang: undrilled gas giant Company WI%1 Kertang PETRONAS Carigali 40.0% Longboat (operator) 52.5% PETROS 7.5% Block SK2A PSC Feb-23 (MBR 2022) Prolific Central Luconia, offshore Sarawak • Outboard of numerous recent gas discoveries • Area 12,000km2, water depth 100-1,400m • Significant, multi-TCF
Slide 8: SE Asia M&A outlook
SE Asia M&A outlook Primary energy consumption growth (2012-2022) Majors continuing to rationalize portfolios 3.0% • Comparable to North Sea ~15 years ago 2.0% 1.0% Limited buyer universe leaves gap in the market ♦ • Private equity largely absent • National Oil Companies (NOCs) becoming less prevale
Slide 9: Gas remains long term investable
Gas remains long term investable ESG & GDP growth … is driving LT gas demand … reliant on few net exporters Norway Net gas exporter Denmark EU taxonomy Global Energy Consumption to 2050 x Ukraine Net gas consumers for sustainable activities Netherlands 100% Poland UK 42 gas Italy 30 Germany 75% Othe
Slide 10: Focused on delivery
Focused on delivery Management team with unique experience and proven track record in Norway and SE Asia • Experience growing and exiting E&P companies in Norway and SE Asia • History of transformational M&A deals (eg JAPEX JV) Attractive market opportunity • Focused on adding further production and
Slide 11: www.longboatenergy.com
www.longboatenergy.com Longboat Energy @LongboatEnergy
Longboat Energy — Investor Presentation (November 2023) on 6ix