SEASCAPE ENERGY ASIA PLC - Post AGM presentation

Seascape Energy Asia PLC provided a positive post-AGM investor update, highlighting significant operational and strategic progress across its Malaysian gas-focused portfolio as it advances towards first production in 2028. The company reported substantial momentum at its flagship Tamaris Cluster, where front-end engineering and design (FEED) contracts have been awarded, well design completed, and a field development plan remains on track for submission later this year. Seascape also announced the appointment of Macquarie to structure development financing for the Tamaris and Dawa projects, supporting its broader funding strategy alongside potential farm-outs and strategic partnerships. The company continues to benefit from favourable market dynamics, including increasing Asian gas demand, regional supply shortages, and heightened energy security concerns, which management believes strengthen the value of its predominantly gas-weighted portfolio. Exploration upside has expanded following advanced 3D seismic reprocessing, identifying new prospective resources within the Southern Malay Basin, while the Block 2A exploration well targeting an estimated 9 Tcf prospect remains scheduled for drilling in 2027 with Seascape fully carried on its 10% interest. Progress also continues at the Dawa Cluster, where first gas is targeted in 2028 and development plans are being optimised to capture infrastructure synergies. Backed by a strong cash position, supportive industry fundamentals, and growing interest from strategic and financial partners, Seascape believes its growth strategy, resource base and technical expertise position the company to maximise shareholder value and capitalise on the increasing demand for domestic gas supplies in Southeast Asia.