Seascape Energy, an E&P company focused on Southeast Asia, is pleased to announce 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
- Keladi prospect upgrade to 423 bcf (+125%) with a 45% GCoS
- New Tembakau North prospect (29 bcf, 58% GCoS) identified representing a high impact, low risk, nearfield target which could be drilled from a planned Tembakau field platform
- Geophysical analysis and amplitude mapping demonstrates the Keladi prospect as being located up-dip and part of the same channel system as the Tembakau gas field
- Total Temaris net mean unrisked Prospective Resources of 950 bcf (+38%), illustrating significant running room beyond the Tembakau gas field itself
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)
Keladi
Gas(bcf): 423
Total(mmboe): 70
GCoS%: 45%
Allamanda
Gas(bcf): 406
Total(mmboe): 68
GCoS%: 30%
Kangkung *
Gas(bcf): 66
Total(mmboe): 11
GCoS%: 38%
Tembakau North *
Gas(bcf): 29
Total(mmboe): 5
GCoS%: 58%
Terung *
Gas(bcf): 23
Total(mmboe): 4
GCoS%: 50%
Mengkuang South
Gas(bcf): 4
Total(mmboe): 1
GCoS%: 65%
Total
Gas(bcf): 950
Total(mmboe): 158