Seascape Energy Asia Shifts Focus to Southeast Asia Amid Financial Losses

Longboat Energy Plc ( (GB:SEA) ) has shared an announcement.

Seascape Energy Asia plc has completed a strategic pivot to focus on Southeast Asia, highlighted by its exit from Norway and rebranding. The company reported a significant financial loss for 2024, primarily due to the sale of its Norwegian joint venture, but anticipates growth opportunities in Malaysia and other parts of Southeast Asia. The company is actively pursuing expansion and sees the region as a key area for E&P investment, aiming to leverage its established networks and leadership to enhance shareholder value.

The most recent analyst rating on (GB:SEA) stock is a Buy with a £50.00 price target. To see the full list of analyst forecasts on Longboat Energy Plc stock, see the GB:SEA Stock Forecast page.

More about Longboat Energy Plc

Seascape Energy Asia plc, formerly known as Longboat Energy plc, is an exploration and production (E&P) company focused on Southeast Asia. The company is involved in developing a full-cycle E&P business and has a market focus on the region’s energy sector, particularly in Malaysia.

Average Trading Volume: 204,254

Technical Sentiment Signal: Buy

Current Market Cap: £21.14M

See more insights into SEA stock on TipRanks’ Stock Analysis page.