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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Parkmead Group (the) Plc | PMG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 17.75 | 08:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 17.75 | 17.75 | 17.75 | 17.75 | 17.75 |
| Industry Sector |
|---|
| OIL & GAS PRODUCERS |
| Top Posts |
|---|
Posted at 12/12/2024 20:52 by kinwah The Dutch gas assets will be next to be sold off. We could do with another cold snap to hike the valuation. The rump business could attract interest from financial investors or could even see Cross making a buy-out offer. I can see this leaving my portfolio at 40-45p in the next 12 months. |
Posted at 19/7/2024 09:46 by mirabeau Interesting RNS19th July 2024 The Parkmead Group plc ("Parkmead", "the Company" or "the Group") Formal Award of UK Licence P2634 Parkmead, the independent energy group focused on growth through gas, oil and renewable energy projects, is pleased to announce that further to the provisional award of three blocks as part of the 33rd UK offshore licensing round, the P2634 licence has now been formally awarded to Parkmead by the UK Government's North Sea Transition Authority (NSTA). The licence is situated in the Outer Moray Firth and comprises blocks 14/15a, 14/20d and 15/11a. Parkmead (50% interest and operator), together with its joint venture partner Orcadian Energy (50% interest) will leverage expertise gained in developing challenging crudes to work towards commercialisation of Fynn Beauly, one of the UK's largest undeveloped discoveries. This heavy oil accumulation has been proven by three wells and is estimated to contain oil-in-place of between 740 million and 1.33 billion barrels. The partnership will now begin to progress the approved three-year work programme to determine whether a technically and economically viable development can be delivered within the NSTA's Net Zero Strategy. By undertaking geophysical, geochemical, reservoir modelling and production technology studies, the work will assess the feasibility of reducing oil viscosity using enhanced oil recovery techniques. This will include the potential combination of polymer flooding with geothermal heat uplift to improve recovery. Parkmead's Executive Chairman, Tom Cross, commented: "Parkmead's Board is very conscious of the current uncertainties around the new UK Government's intentions in respect of future oil and gas projects and developments in the UK North Sea. However, Parkmead sees the award of the Fynn licence as an opportunity to deliver significant value to shareholders. The team will evaluate whether it can deliver a commercial development of the major Fynn Beauly accumulation that also meets the overarching net zero objectives that are key to obtaining the relevant regulatory approvals. The Board believes that this licence offers Parkmead and its investors access to huge potential upside, via one of the largest remaining oil resources left on the UK continental shelf" |
Posted at 11/4/2024 05:49 by sonofthebull Very good presentation from Parkmeads Fynn Beauly partner Orcadian Energy at Investors meet Company ! |
Posted at 06/2/2024 13:32 by chutes01 Indeed, he is taking a lot of cash out each month, and half goes to tax, come on Cross, sort it out. You have let a lot of investors down. |
Posted at 22/11/2023 15:50 by ashkv Flagged by me.... PMG is a firm run for the CEO and his family... not for investors.... |
Posted at 21/7/2023 10:05 by mallorca 9 TC has played PMG investors as fools for years now.Cleverly he always leaves one carrot dangling .. there have been a string of them ... now its Skerryvore. Everyone of them has eventually become a huge impairment charge. He seems to be collecting tax losses. TC's main interest is not PMG ... its land and property. For example ... the PMG headquarters building in Aberdeen is held under a separate TC owned company ... however PMG pays rent for that building to the separate TC company. Thus that building is fully paid off by PMG shareholders for the benefit of TC who owns the building separately. He's using PMG as a tax avoidance shell on his other interests ..and for steady cash from the nat gas ... much of which he pays to himself as salary. PMG was formed circa 20 years ago .... turnover still only around £10m ...says it all really ! |
Posted at 15/6/2023 14:50 by therealdeal25 Chutes Cross has scared every oil company off, he just doesn’t have anything worth drilling, he has also scared off investors, if you look at what £10,000 would of bought you here 10 years ago, and look at what it buys you here now, you could argue it’s a steal, yet on the other hand all I see are sells,I said it would go under 20p, I was laughed at, well they ain’t laughing now !If you don’t believe me, just look at that scary chart above ! |
Posted at 19/4/2023 18:21 by chutes01 continued falls, looks in distress now, just a sham.Cross and his 'team' have wiped out a few investors from much higher levels. No lender here over 10p, huge dilution if this happens, may just be time to fire sale and call it a day. If Cross wants out, there is no incumbent competent to take over this trail of failure. |
Posted at 01/4/2023 10:56 by chutes01 I think investors are starting to realise the mistakes Tom has been makingDe-Comm remains live and will drain the cash balance, it was to be topped up by dutch gas revenues but they are at zero, so no cash left. At AGM he said update will be issued end Q1 for GPA, I suspect it is dead, he didn't stand a chance. Overpaid for 3 windmills, $4.5 Mill, just too much but the revenue is enough for his wages. There may be nothing left for shareholders now, and management are just milking salaries. At the AGM he looked dis-interested and confused at times and had to be bailed out on several questions, he just didn't know how many producers/WI wells they had to de-comm on Athena He failed to notify shareholders on failure of dutch drill, however since it makes us no revenue, is it material news .. Nothing left for shareholders now, it may come down to roll of dice with Skerryvore drill and whether anyone wants to produce it to nearby infrastructure. Bailing out his ex wifes £8 Mill BoS loan was the last straw for many. Board are dining out at shareholders expense. |
Posted at 30/3/2023 13:15 by chutes01 Another 160k just dropped, 320k sold today, insiders selling out before news tomorrowPaulrrv is a deluded ramper, so beware of his antics GPA must be written off, update due end Q1 as alluded to at AGM Skerryvore remains stranded. Dutch gas drills must have flopped as no updates given to investors as promised or required as it is material information. 3 windmills at stonehaven to support 40 mio valuation - they are only worth 2 Mill Is this you selling off Paul, and misleading investors ? Is this legal ? |
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