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Longboat Energy Plc ( (GB:SEA) ) has provided an update.
Seascape Energy Asia plans to raise about £4 million through a placing and director subscription of up to 6.3 million new shares at 70 pence, a roughly 12.5% discount to the latest close. The issue represents around 10% of existing share capital, with Stifel running an accelerated bookbuild, and a parallel UK retail offer to broaden shareholder participation.
The company intends to use the proceeds to support its next growth phase in Malaysia, including farm-out and expansion around its flagship Temaris asset and progressing the DEWA Cluster and Block 2A. This funding underpins planned final investment decisions on Temaris and DEWA in 2026, targeted first gas and production growth by 2028, and a fully carried high-impact Kertang exploration well in 2027, strengthening Seascape’s future reserves and output profile.
The most recent analyst rating on (GB:SEA) stock is a Hold with a £78.00 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 SEA Stock
According to Spark, TipRanks’ AI Analyst, 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 SEA stock, click here.
More about Longboat Energy Plc
Seascape Energy Asia is an exploration and production company focused on gas assets in Southeast Asia, with a unique upstream position in Malaysia. It holds interests in the Temaris Cluster, the DEWA Cluster, and deepwater Block 2A, combining operated shallow-water gas developments with high-impact exploration alongside major partners such as INPEX.
Average Trading Volume: 149,201
Technical Sentiment Signal: Buy
Current Market Cap: £50.51M
For an in-depth examination of SEA stock, go to TipRanks’ Overview page.