Parkmead Share Discussion Threads

[tournesol] 17/1/2019 15:31

Fanshaw

why are you so bitter and twisted?

why are you trying to spin against PMG?

why are you ignoring what they are doing and complaining about what they are not doing?

Truth is that PMG's big strategic project is the Greater Perth Area. In the past 12 months they have increased their stake in the Perth and Dolphin fields from 60% to 100% - a major increase.

Also PMG has commissioned a major engineering study into the feasibility of tying GPA prodcution back into the Nexen platform.

Also PMG has commissioned a new reservoir study to inform its development strategy going forward.

Also PMG has bid for and been awarded 9 new blocks in the 30th bidding round. These include acreage adjacent to GPA.

What you seem to be advocating is that instead of the measured and precisely focussed approach being taken under Cross's direction, PMG instead goes out with a blunderbus and takes aim at assets which are being sold off by majors. Have you considered that there will be good reasons why those blocks are being sold off? Have you considered that PMG - a relatively small company considers that it is better to focus on its key assets rather than run about like a headless chicken as you are advocating?

You are simply trying to bash the management and the company, neither of which you seem to understand.

Please cease and desist forthwith.

[fardels bear] 17/1/2019 15:08

fanshaw - perhaps the master builder has got enough without buying any more. Maybe he'd rather use the money in the company to develop the fields he got for nowt, or next to nowt.

I'm saying it because it's true. Inside of us, we both know you belong with Tom. You're part of his work, the thing that keeps him going. If that plan leaves the ground and you're not with him, you'll regret it. Maybe not today. Maybe not tomorrow, but soon and for the rest of your life.

[fardels bear] 17/1/2019 15:04

It's been stuck here all day chutes: Sell:57.60p Buy:60.00p

[chutes01] 17/1/2019 15:02

away to break out

[fardels bear] 17/1/2019 11:06

True, mally, but what this aches for is some evidence that the hard-working team have been in their offices daily rather than hungover in bed after making merry at the local Ceilidh every night..

[mallorca 9] 17/1/2019 11:03

Well it's a fact that revenue will be up via the Nat gas price and that Faroe shares will realise £1.60 each.

[fardels bear] 17/1/2019 10:14

Hmm, I think that was the end of the chorus... Which verse do you want?

[fhmktg] 17/1/2019 09:16

.....'If you wish upon a star, makes no difference who you are.If you wish upon a star, your dreams come true.....'All together now.....

[fardels bear] 17/1/2019 09:02

Two quid by Christmas, eh? ;)

[mallorca 9] 17/1/2019 08:43

I think that the share price is looking quite solid and perhaps ready to break upwards.
Don't forget that Nat Gas pricing has been very strong for the past 6 months (which will be reflected in the interims) plus the windfall from Faroe shares.

[francoismyname] 17/1/2019 06:58

It’s was late for children like yourself

[francoismyname] 16/1/2019 21:33

Rope a dope still up late

[francoismyname] 16/1/2019 20:16

When you read below from 2014 you realise Tom has fooled us right over whilst at the helm.

Really the man is finished.

hxxp://www.parkmeadgroup.com/uploaded/financial/Parkmead_Preliminary_Results_Statement_2014_-_21-11-14_Final.pdf

21 November 2014
The Parkmead Group plc
(“ParkmeadR21;, “the Company” or “the Group”)
Preliminary Results for the year ended 30 June 2014
Parkmead, the UK and Netherlands focused oil and gas group, is pleased to report its preliminary results for the year ended 30 June 2014.
HIGHLIGHTS
Successful Exploration and Appraisal Programme
 Awarded five additional oil and gas blocks in the UK 27th Licensing Round, resulting in a total award of 30 blocks across the North Sea, West of Scotland and West of Shetlands
 Two new gas discoveries, at Pharos in the UK Southern Gas Basin and Diever West onshore the Netherlands
 Site survey completed at the exciting Skerryvore oil prospect in the Central North Sea, ahead of exploration drilling planned for 2015
 Post year-end, major licence awards in the UK 28th Licensing Round, gaining stakes in six new licences, spanning nine blocks across the Central and Southern North Sea
 The new licence awards take Parkmead’s total number of oil and gas blocks across the UK and the Netherlands to 61, with 48 of these being operated by the Group
Major Growth in Production. Significant Progress with Developments
 Completed the acquisition of Lochard Energy Group PLC (“Lochard̶1;) in July 2013, providing Parkmead with its first UK oil production
 Completed the acquisition of an additional 20% interest in the Athena oil field from EWE VERTRIEB GmbH (“EWE”) in April 2014, trebling the Group’s UK production, revenue and cash flow
 Excellent progress made with the Perth Dolphin Lowlander (PDL) oil hub project. Successful joint development study and detailed subsurface work leading to a combined three field development
Strong Financial Performance delivering Maiden Profit
 Revenue increased 506% to £24.7 million (2013: £4.1 million)
 Doubling of gross profit to £3.2 million (2013: £1.6 million)
 Maiden full year profit after tax of £1.2 million (2013: £5.6 million loss)
 Total assets grew 139% to £127.4 million at 30 June 2014 (£53.4million at 30 June 2013)
 Raised approximately US$66.0 million in January 2014, providing finance for continued growth
 Cash balances of £46.3 million as at 30 June 2014
 Continuing to explore optimum debt facilities to further increase financial strength
Parkmead’s Executive Chairman, Tom Cross, commented:
“I am pleased to report another excellent year of progress. Parkmead has significantly increased its production base, providing major growth in revenue and cash flow. The Company has also recorded its first full year of profit, marking an important milestone.
These key achievements have been delivered through two important acquisitions, one corporate and one asset, both of which secured increases to Parkmead’s oil production. These new interests complement Parkmead’s existing oil and gas portfolio.

[fardels bear] 16/1/2019 19:38

Of course, if the platform has been informed. I'd have expected more of a leak if it were the case.

[chutes01] 16/1/2019 19:12

The host Platform will have been informed, so the market and shareholders need to be told also, dont you think, nexen/cnooc may be the delay.

[fardels bear] 16/1/2019 18:52

I've no idea whether we will hear anything this week or next. But at some point we will.

[fanshaw] 16/1/2019 18:47

chutes01

Will you whisper to me what day this week this week we are going to get news

[fardels bear] 16/1/2019 16:31

Sod it. Added another 10K.

[fardels bear] 16/1/2019 16:28

Methinks it was either porkies or wishful thinking.You'd hope that now we've got Burns Night out of the way the Laird might turn his attention to other more pressing matters.