Parkmead Share Discussion Threads

[chutes01] 19/11/2018 07:25

£2 ???

[mallorca 9] 19/11/2018 07:17

Look at nat gas again this morning! This is giving us a huge revenue boost.

[francoismyname] 18/11/2018 20:52

It’s the castle Tom owns and lives in

[fardels bear] 18/11/2018 19:00

Who's midmar?

[chutes01] 18/11/2018 15:50

midmar, nice place, he will do well here, hang in there

[tournesol] 18/11/2018 07:55

Lauders

Thank you for that. I take back what I said.

No doubt PMG will put that onto their website in time.

T

[lauders] 18/11/2018 01:10

tournesol - Francois posted a cut-and-paste of the piece below on PMG in the last message. He/she did not provide a link to it though which is a bit naughty in the modern electronic world. So you may have liked the content of that one post only, just a bit ;-)

[tournesol] 17/11/2018 17:07

Francois

Thank you for that. I take back what I said.

T

[francoismyname] 16/11/2018 19:19

Genuine question here, what do we think the value of the Dutch assets are if we were to sell them. They made a profit of £4.1m and I know we use this profit to offset salaries etc so we make a net loss but if a company purchased the assets off us they will probably be oaying there salaries out of their current sales, therefore the £4.1m would go straight on the bottom line.

I was thinking something around £20-24m which is 5/6 times annual orofit.

If we say £24m plus cash of £24m plus Faroe petroleum shares at circa £6m , which gets us to £54m without any value for our oil fields or the tie in which has passed the feasibility test. Does seem really cheap to me ....

[mallorca 9] 16/11/2018 14:50

Gosh - look at the price of natural gas !

[archie61] 16/11/2018 13:45

And almost 4 million Faroe shares worth over 5 million quid.

[haywards26] 16/11/2018 12:46

tournesol - totally agree...PMG will multibag over the next few years IMO

[tournesol] 16/11/2018 11:34

Worth pointing out that PMG's market cap is a mere £60 million. And as per this morning's RNS they have £24 million in the bank and £5 million quid's worth of shares in Faroe. So their other assets are being valued at less than £30 million.

For that you get:

- a gas business generating revenue of £7 million with profit of £4 million (higher if you use forward projections)

- 2P reserves = 46 million bbls

- a development project which is starting to gather speed and momentum

- additional future development opportunities

- several exploration opportunities

looks to me like the gas business alone must be worth £20-£30 million, so the oil reserves and exploration assets are in for free more or less.

With proven management whose interests are completely aligned with shareholders, what's not to like?

[fhmktg] 16/11/2018 11:01

Presumably the order of play will be to identify funding and technical project planning for the tie up, where discussions are already underway with partners ready to share financial support ( in return for oil?) Then complete project planning with Nexen for sour oil treatment and pumping cost sharing (also in return for oil).Anybody have experience of this kind of work who can make a reasonable contribution to the board.

[mallorca 9] 16/11/2018 10:52

François, Good post.

[risk1] 16/11/2018 09:02

Let’s put another log on the fire 🔥

And study a Friday rns

[briand2] 16/11/2018 09:02

Excellent results with clear signs of further development to come. This a well run company which quietly goes about it’s business very effectively.

[francoismyname] 16/11/2018 08:57

£58m for all of Parkmead. £30m cash including Faroe shares. The Dutch assets if sold as a stand alone asset would raise a considerable amount and then there is the strong possibility of a tie back on the horizon.

You get internet companies with little cash, an idea, and a lot of hot air valued in the hundreds of millions and yet we are virtually risk free at £58m market cap.

[mallorca 9] 16/11/2018 08:53

I have to be honest and say that, at about 6am this morning I re read last year's report.This mornings RNS was just a cut and paste of much of the 2017 prelims.Personally I am very disappointed with the progress made in the past 12 months. Obviously the Dutch fields are a great success.

[fhmktg] 16/11/2018 08:21

...and Brent crude looks to have bottomed out after the traders have had to close their positions....watch BP over the next few days for confirmation.Gas price at a good level as well.

[yellowdog] 16/11/2018 08:20

It's a good opportunity. Producing assets, plenty of cash, few million Faroe shares and attractive Licences to play around with.
Better than 90% of the O&G on aim!

[fhmktg] 16/11/2018 08:18

Keep the faith!