23rd May 2025 11:23
(Alliance News) - Seascape Energy Asia PLC on Friday said it was pursuing opportunities to sharply expand its portfolio during this year, as it reported an increased loss.
The stock fell 9.0% to 30.50 pence per share on Friday morning in London.
The Southeast Asia-focused exploration & production company said its pretax loss widened to GBP5.7 million in 2024 from GBP3.9 million in 2023.
Administrative costs increased to GBP6.7 million from GBP4.7 million.
Chief Executive Officer Nick Ingrassia said: "It is hard to overstate what a pivotal year 2024 was for Seascape Energy as the business undertook a complete transformation; pivoting to Southeast Asia and undertaking several transactions which have resulted in a fully funded platform to pursue growth opportunities across the region."
He added: "New business remains a priority for the company in 2025 with Seascape actively pursuing growth opportunities in Malaysia and elsewhere with a particular focus on high-impact, ground-floor opportunities to materially expanding its portfolio."
By Tom Budszus, Alliance News slot editor
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