Seascape Energy, an E&P company focused on Southeast Asia, has announced a material upgrade to its Keladi prospect following an updated independent evaluation of the Prospective Resources by Sproule ERCE on the Temaris Cluster ('Temaris', 100% PI, operated). The Competent Persons Report ('CPR') now ascribes almost 1 TCF of net mean unrisked Prospective Resources to the Temaris block.

Highlights

All resources quoted herein are mean unrisked Prospective Resources as defined by PMRS Standard (as detailed below).

Pierre Eliet, Executive Director and Country Chair Malaysia, commented:

 'The Sproule ERCE independent resource update validates the high quality nature of the Temaris block and our significant resource base. We are particularly encouraged by the Keladi prospect, where mean unrisked Prospective Resources have more than doubled.

These results, along with Tembakau, position Temaris to become a transformative gas hub for Peninsular Malaysia's growing energy demand.'

 The upgrade at Keladi reflects a period of detailed work by the Seascape subsurface team using updated data and high-end geophysical techniques to extract seismic amplitudes which allow for more accurate mapping of the Miocene channel systems sitting at multiple horizons across the Temaris block to the west of Tembakau in the same channel play.

The CPR is an important independent third-party verification of Seascape's resource figures. The report confirms (and in the case of Temaris, upgrades) management's technical view of resources at the time of license application.

In addition to the Tembakau field (246 Bcf 2C Contingent Resource) and the two largest prospects (Allemanda, Keladi totaling 830 Bcf mean Prospective Resources), the updated work shows several additional near-field exploration targets totaling over 110 bcf within 5 km of the Tembakau field and accessible from a planned Tembakau platform.  

Temaris Block Prospects: Unrisked Net Mean Prospective Resources

Prospect(s)

Gas

(bcf)

Total

(mmboe)

GCoS%

Keladi

423

70

45%

Allamanda

406

68

30%

Kangkung *

66

11

38%

Tembakau North *

29

5

58%

Terung *

23

4

50%

Mengkuang South

4

1

65%

Total

950

158

Source: Sproule ERCE, numbers may not add up due to rounding.

*Accessible from the planned Tembakau field platforms

Original announcement link

Source: Seascape Energy