Parkmead Share Discussion Threads

[tournesol] 07/1/2019 13:16

I am happy to see that there is very little discussion of PMG here. It implies that the number of "active" private investors and traders is limited and that consequently the share price is less exposed to irrational mood swings.

There were times in the life of Dana Petroleum when management felt distinctly disadvantaged by the large following of retail investors. That seems not to be the case here.

[skyship] 07/1/2019 13:09

Just out - Re-tipped by Simon Thompson in the IC Online

[chutes01] 07/1/2019 08:37

Due update on oilfield here

[francoismyname] 07/1/2019 01:10

No one expects Tom to turn us into another Dana and a takeover target in the billions but surely by now after raking in 500k a year for many many years he should be looking to push us into a 100-200m market cap company.

Yet he seems unable to do this and has wasted many millions of company funds over the last few years whilst at the helm.

I think he maybe past it now and doesn’t have the hunger he once had. You’d hope he would have the balls to pass it on to someone with ambition and passion.

[manrobert] 02/1/2019 14:29

thank you. I just thought there should be a min 7p a share on offer for faroe

[manrobert] 02/1/2019 14:29

thank you. I just thought there should be a min 7p a share on offer for faroe

[tournesol] 02/1/2019 13:40

ManR

Worth considering HUR - FPSO arrives on field Thursday for hook up to EPS. Then it's chocks away for the proof of concept stage with value being recognised progressively. Reasonable chance of 5x within 2 years.

I'm heavily loaded in both PMG and HUR.

[manrobert] 02/1/2019 10:56

and to you.happy new year to all.i sold my shares this morning and bt faroe to try and get some losses back

[tournesol] 02/1/2019 09:55

ManRobert

That's v generous of you. I'll do the same and make a donation accordingly.

Happy New Year.

T

[manrobert] 02/1/2019 08:25

tournesol. I am happy to donate my prize to salvation army.

[tournesol] 01/1/2019 14:21

Manrobert

Congratulations.

You have taken joint first place in the share price prediction contest. I hereby award you a bottle of something good to drink. Let me know what you enjoy drinking and send me a postal address by private message and I'll get the prize in the post.

Let's hope the higher predictions of the other contestants turn out to be accurate in 2019.

regards

T

PS MR's forecast was 70p and mine was 90p. Actual high water mark was 80p so we both drew.

[francoismyname] 31/12/2018 12:06

Have a good one everybody..

Here is to a wheelbarrow full of cash for all shareholders in 2019 !!!

[tournesol] 19/12/2018 18:38

Not sure if anyone has posted this already?

PMG has posted some more material onto its website in the external research section - see

Most useful thing is the 16/11 note from Panmure Gordon at :-

This revisits the valuation, points out that core assets - including cash and the Faroes shareholding - are worth £32 million vs the market cap of £60 million - which means the value attributed to the oil and gas assets is derisory. Says that the company should move into net profit in 2018-19. Re-iterates share price target of 85p.

Nothing we don't know, but good to see it set out clearly.

Must say that I'd be delighted to see the share price at 65p never mind 85p

T

[fhmktg] 17/12/2018 17:08

Nothing from the agm either!The silence is deafening.

[fhmktg] 17/12/2018 08:49

I hope we get to hear Tom's plan(s) before somebody tries to Hoover pmg assets on the cheap. With his personal stake I guess he can fend of any pirates cruising around the NS.Patience mes braves!

[fardels bear] 17/12/2018 00:38

Aw c'mon.. If we thought FPM would get a bid of 900 million we'd all be having a pop at it.. That's fifty percent upside.. Doesn't happen in the real world.

[chutes01] 16/12/2018 22:29

worth a few pence here
see if theres news before ye

[francoismyname] 16/12/2018 13:25

£2.25 for Faroe per share would be good news for us.

[robs12] 07/12/2018 18:35

No need for them to fund raise now IMHO, they have plenty of cash in the bank and more coming in. When GPA kicks off they have already stated "A number of the proposals have also offered finance to the Group for major parts of the development, further reducing the capital expenditure required to bring the project onstream."
And they will almost certainly trade a % of the 100% they have now to Nexen and/or others as part of the deal. Would make much more sense for them to get GPA going, with subsequent share price rise, before going for a fundraise.
Remember they already raised £40m @255p in 2014, and another £13.5m @ 120p in 2015, so they'd struggle to get anything away at current share price I think, unless they had a really concrete plan/deal already agreed?

There's some detailed info about Perth in this WH Ireland research note (on the PMG website), albeit from Feb 2016. Back then they estimated Perth breakeven at $41/bbl, and capex required for Perth phase 1 at $308m, but that was through an FPSO...though I wouldn't bank on those figures at all even then. But now with the Scott tie back in play both breakeven and capex should be lower, we just don't know by how much other than PMG's statement "Subsea tie-back has the potential to transform the GPA project, commercially and economically, in addition to dramatically reducing the cost to achieve first oil production".

hxxp://www.parkmeadgroup.com/uploaded/research/Parkmead_Initiation_-_2016_02_02.pdf

With WoS I would imagine they'd be looking for a farm out to cover drill costs also if they get to that.

[chutes01] 07/12/2018 15:55

Let's hope the twit doesn't do fund raise at less than 50p
£50 Mio market valuation
That would be crazy for lth

[itscominghome] 07/12/2018 10:12

Volume dried right up - looks like the normal drift back to 50p again and with loose talk of a fundraising I'm starting to loose patience.

[robs12] 05/12/2018 13:52

I first bought at about 1.5p (in old money), sold all at 8p I think, then watched it go up a lot more. I was so convinced it was overvalued I actually opened an account especially and shorted it a couple of times. It's the only share I've ever shorted! (and it came down, so made money on it also).
Got back in only relatively recently.
Onwards and upwards indeed!

[tournesol] 05/12/2018 12:07

I bought my first PMG shares at, from memory, 8p

They rose to 10p and I formed the opinion that they would not be able to proceed very far without doing a major dilutive share issue to raise cash. So I decided to take my respectable 25% profit and wait for the inevitable dip.

Best laid plans of mice and men……..

Did not come back until 57p, since when I have made a total of 6 purchases. I'm underwater to the tune of 12% but I remain confident that this is going to come good.

Onwards and upwards

[fardels bear] 05/12/2018 12:04

OK my guess is 80p.. :D