Seascape Energy Asia Plc · LSE:SEA
Seascape Energy Asia — Corporate Update (July 2025)
17 slides from Seascape Energy Asia's corporate update, July 2025
Slide 1: Corporate update: Taking Seascape to the next level
Corporate update Taking Seascape to the next level July 2025
Slide 2: Executive & board
Executive & board 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 3: Seascape snapshot
Seascape snapshot Material, Malaysian-focused, gas-weighted portfolio built in ~2 years Temaris Cluster Block 2A (Kertang) DEWA Cluster (SEA 100%, op) (SEA 10%) (SEA 28%) Discovered Resources + High Impact Exploration Discovered Resources Exploration Upside +250 bcf gas cluster A 9 TCF giant 300-400
Slide 4: Competitively advantaged in Malaysia
Competitively advantaged in Malaysia Delivering success where others struggle High barriers-to-entry in Malaysia SEA key achievements from Feb-23 • Few qualified small-cap, international E&Ps • Well-established, long-standing relationships • Block 2A award 2023 • EnQuest/SEA AMI • Timing is everythi
Slide 5: Structurally short gas position
Structurally short gas position LNG imports into Peninsular Malaysia required to meet soaring demand Peninsular Malaysia Gas Demand 2A Kerteh Sarawak Gas Demand Peninsular Temaris Brunei Malaysia DEWA Gas power plant LNG Regas Auz+ Bintulu Petchem plant LNG Sarawak LNG Regas Terminal LNG 4 BCM Regas
Slide 6: Huge opportunity
Huge opportunity Malaysia has ~10 billion boe of stranded resources* 6 *Source: Wood Mackenzies estimates
Slide 7: Asset overview
SEA SEASCAPE ENERGY ASIA
Slide 8: Temaris: appraised and ready to develop
Temaris: appraised and ready to develop New award on accelerated development timeline Temaris Cluster Originally drilled by Lundin Oil (now IPC) (SEA 100%, op) Discovered Resources + • Tembakau (2012, 2014); Mengkuang (2015) Exploration Upside +250 bcf gas cluster • Recently relinquished due to geog
Slide 9: Temaris exploration: low-risk, high-potential
Temaris exploration: low-risk, high-potential Upside could more than double resource size Temaris Cluster PSC Significant exploration upside already identified • Mid-Miocene fluvial channel systems • High-quality reservoirs, excellent porosity/permeability • Evident in multiple horizons across Temar
Slide 10: DEWA: progressing toward development plan
DEWA: progressing toward development plan Subsurface work substantially complete Discoveries from late-1980s & mid-2000s Initial focus fields Additional gas fields DEWA Cluster (SEA 28%) • Shell & PCPP D30 DANAU Discovered Resources • Significant nil-cost data set with award 300-400 bcf gas D41 clus
Slide 11: Large prize close to infrastructure
Large prize close to infrastructure Significant, high-quality dataset means no appraisal needed DEWA D35 ~25km Bayan ~45km Bintulu LNG Wellhead Platform 11 Source: Seascape, picture from Tarpon Systems website
Slide 12: Block 2A: 9 TCF of nil-cost, blue-sky upside
Block 2A: 9 TCF of nil-cost, blue-sky upside Full, uncapped carry on Malaysia’s largest undrilled structure Kertang A A’ Block 2A amplitude brightening Cycle V/VII gas chimney A A’ Cycle II/III Cycle I Brunei ~200 km2 coals closure Block 2A (Kertang) (SEA 10%) DEWA High Impact Exploration Bintulu LN
Slide 13: Outlook
SEA SEASCAPE ENERGY ASIA 13
Slide 14: Traction & catalysts
Traction & catalysts Industry and market are only just starting to realise Seascape’s potential Current Asset Base Next Steps Future Growth Steps DEWA (SEA 28%) Continue acreage build-out around CPR: publish contingent resource figures existing Malaysian position Temaris (SEA 100%, op) Initiate Tema
Slide 15: Substantial resources vs listed peers
Substantial resources vs listed peers Seascape development PSCs bring significant growth potential Peer Group Market Cap v Reserves & Resources £500 150 2P 2C M/Cap £400 120 £300 90 £200 60 £100 30 £0 0 Jadestone Valeura EnQuest Seascape Sunda Conrad Pharos Criterium Upland 15 Source: Company disclo
Slide 16: Taking Seascape to the next level: Summary
Taking Seascape to the next level Summary Competitively Advantaged High-Quality Portfolio Just Getting Started… Limited peer group Hard value + nil-cost blue sky upside Significant opportunities in Malaysia Deep regional network Greenfield, simple developments Potential to expand regionally Part
Slide 17: seascape-energy.com IR@seascape-energy.com
seascape-energy.com IR@seascape-energy.com @SeascapeEnergy Seascape Energy Asia