Parkmead Share Discussion Threads

[fardels bear] 06/3/2019 09:26

I've certainly been out on rougher seas than we have this morning.When it gets loud on here is that a sign that most of the traders are back in?

[mallorca 9] 06/3/2019 09:10

I'd love to see the 2018 80p high taken out .

[mallorca 9] 06/3/2019 09:06

The revenue figure will catch the eye plus the GP.

[chutes01] 06/3/2019 09:04

Keep watching son ..

[tournesol] 06/3/2019 09:01

I'd be very happy to be proved wrong, but I think that we are unlikely to see significant progress until the GPA project starts moving. Perhaps we'll get some substantive news rolled in with the interims?

[mallorca 9] 06/3/2019 08:54

Moving up ahead of Interims.
This will breakout out from its current range this month.

[tournesol] 06/3/2019 08:47

Chutes

"Breaking out here"

Really?

Looking at the 12 month chart it looks to me to be firmly wedged between 50p and 60p and a bit.

I don't see any sign at all of a break out.

Obviously I hope and expect that it will break out eventually, otherwise I wouldn't be holding. But I can't see today's share price movement as anything other than a random wobble between two clearly defined extremes.

[chutes01] 06/3/2019 08:42

Breaking out here

[fhmktg] 05/3/2019 11:51

Plus the 8 million from the takeover....the real move will come from a clear timetable for GPA....oh and Mrs Cross' project.

[mallorca 9] 05/3/2019 10:54

6 month Interims out this month.
I do happen to think that they will move the share price to a permanent higher level .. predicting around 80p. .
Revenue very likely to be sharply up.

[francoismyname] 04/3/2019 19:27

drifting like a barge.....

Toms cash cow

Has his wifes loan been paid yet, whilst he goes home to his £3m castle..

You couldnt make it up FFS

[fardels bear] 04/3/2019 19:03

How could you possibly considerably increase well productivity without increasing the RF?

[robs12] 04/3/2019 18:00

Hi Skyship,

The GPA project has been PMG's baby for years, slowly (some would say too slowly!) working towards it.

They announced (RNS) in November 2018:

-Engineering study confirmed the technical feasibility of a tie-back of the GPA project to the Scott facilities
-Parkmead has entered into commercial discussions with the Scott field partnership in order to explore terms for a tie-back of GPA to Scott
-New GPA reservoir study concluded that stimulating the Claymore formation would result in a considerable increase in well productivity and is likely to increase the project’s oil recovery factor.

To add from the 2018 AR also in November: "The Scott facilities lie just some 10km southeast of the GPA project and a tie-back could yield a number of mutually beneficial advantages for both the Scott partnership and Parkmead. Utilisation of this export route has the potential to transform the GPA project commercially and economically, by dramatically reducing the capital expenditure required to bring the GPA project onstream and by lowering the operating costs thereafter."

They have also posted on the OGA website, updated October 2018, (hxxps://itportal.ogauthority.co.uk/eng/fox/path/PATH_REPORTS/current-projects?ORDER_BY_FIELD=true) that the project is scheduled to get OGA approval for FEED this month, with first oil expected late 2021:

"Project Summary
The Perth development is located in block 15/21C, approximately 6 km south of the Tartan platform. The initial Core Perth development will comprise up to five production and two water injection wells tied back via a dedicated manifold. The chosen development concept is now a subsea tie-back to the nearby Scott platform which is circa 10.45km away. The project is scheduled to get OGA approval to go in to FEED in March 2019. FID is planed for Q4 2019 with 1st hydrocarbons currently planned for late 2021. We are currently executing a number of scopes with our chosen engineering contractors. We are not looking for any additional support from the supply chain at this time."

Their interims are usually end of March.

So my hope and expectation is for confirmation of a deal this month.

p.s. To add...I was wrong when I said in the earlier post that there was no news of the AGR Tracs study on stimulating Perth to increase the recovery rate. There are no numbers announced, but they did state in November:

"New GPA reservoir study concluded that stimulating the Claymore formation would result in a considerable increase in well productivity and is likely to increase the project’s oil recovery factor".

Hmmm...."likely to" ...

[11_percent] 04/3/2019 17:12

LOL...……………;……..

[fhmktg] 04/3/2019 17:06

Yes Skyship, PMG are in discussions with Nexen to route the GPA output through their Scott field infrastructure- its been going on for a while!

[skyship] 04/3/2019 16:53

robs12 - thnx for your detailed post above.

You start:

"Assuming PMG announce the deal and confirm a route to market for GPA sour crude and a timeline, by my sums they will be unlocking access to:"

Have I missed something? Is there a deal to be announced? Or what is your timescale?

Bearing in mind that Charles Stanley research was from Oct'13 - 5½ yrs ago - your investment timescales may be rather longer than my days yet to come!

[fardels bear] 04/3/2019 16:28

Well, it's not exactly moving violently in a way that'd make us likely to fall off.

[chutes01] 04/3/2019 08:57

All that oil for 20 million quid
You couldn't make it up
Hang in there !!

[fhmktg] 04/3/2019 08:38

The voice of reason....thanks robs.

[fardels bear] 04/3/2019 00:09

Yes indeed, I second that..

[tournesol] 04/3/2019 00:01

Robs12

Excellent post. Thanks for digging out the data and putting it together clearly and succinctly.

T

[fardels bear] 03/3/2019 22:36

It's a steady game being long oil.

[bountyhunter] 03/3/2019 22:32

I seem to be doing quite a bit of that right now, see what happens tomorrow, if anything!

[fardels bear] 03/3/2019 22:25

It is indeed but good things are worth waiting for.