Seascape Energy Asia Boosts Temaris Gas Resource to 950 bcf After Keladi Upgrade

An announcement from Longboat Energy Plc ( (GB:SEA) ) is now available.

Seascape Energy Asia has reported a material upgrade to gas resources in its Temaris block offshore Malaysia, with an independent Competent Persons Report from Sproule ERCE now assigning 950 bcf of net mean unrisked prospective resources, a 38% increase. The Keladi prospect has been upgraded by 125% to 423 bcf with a 45% geological chance of success, and a new near-field target, Tembakau North, has been identified with 29 bcf and a relatively high 58% chance of success, both accessible from the planned Tembakau field platform. Combined with the existing 246 bcf 2C contingent resource at the Tembakau field and additional nearby prospects, the enlarged resource base underpins management’s view that Temaris could evolve into a significant gas hub for Peninsular Malaysia, enhancing Seascape’s growth profile and strategic positioning in the regional gas market.

The most recent analyst rating on (GB:SEA) stock is a Hold with a £69.00 price target. To see the full list of analyst forecasts on Longboat Energy Plc stock, see the GB:SEA Stock Forecast page.

Spark’s Take on GB:SEA Stock

According to Spark, TipRanks’ AI Analyst, GB:SEA is a Neutral.

The score is held down primarily by very weak financial performance (no revenue, widening losses, sustained negative free cash flow, and sharp equity erosion). Technicals are only neutral with modest near-term strength, while valuation is constrained by a negative P/E and no provided dividend yield.

To see Spark’s full report on GB:SEA stock, click here.

More about Longboat Energy Plc

Seascape Energy Asia plc is an exploration and production company focused on Southeast Asia, with a key emphasis on offshore gas assets. The company operates the Temaris block in Malaysia with a 100% participating interest, targeting Miocene channel gas plays to help meet Peninsular Malaysia’s growing energy demand.

Average Trading Volume: 187,930

Technical Sentiment Signal: Buy

Current Market Cap: £42.93M

See more data about SEA stock on TipRanks’ Stock Analysis page.