Parkmead Share Discussion Threads

[fardels bear] 21/11/2024 14:57

Hey Mally, they were talking about you yesterday on GKP thread.

[mallorca 9] 21/11/2024 09:48

I've come back to this one as I feel that the situation is now compelling.
Now making a profit
steady revenue from both gas and renewables
no more decommissioning costs
appraisal well early 2025 as operator
tax loss pool to offset against future tax
nat gas price currently surging
low debt
£9m cash
UK Gov't finally waking up to the fact we need gas and oil
... and more

[mallorca 9] 21/11/2024 09:43

Full year results due to drop at any time.
Last year this produced a significant spike.

[robs12] 04/10/2024 09:29

July Production Figures:

LDS still shut in - that's no production from the great new hope since mid February.
Brakel still shut - since March 2023.
Diever down a little.
Geesbrug back on line and Grolloo down a little.

Net to PMG = 194 boepd.

Graphs:

[robs12] 23/9/2024 13:16

June's NL production figures released.

LDS still shut in (since February). Looks like Geesbrug was shut in during June, and Brakel still shut in since March last year.

Grolloo and Diever both down compared with last month.

Net to PMG was 164 boepd, the lowest it's ever been.

Graphs here:

[therealdeal5] 20/9/2024 20:04

I think something is going on with PMG & Deltic behind the scenes, could be wrong but PMG have been tracking Delts share price of late!

[ashkv] 14/8/2024 09:16

I already have small exposure to PMG at levels 20% above today's 10.75p mult-year low

As of today's low trading below net cash + loan to CEO

No value for production and recent positive TTF gas pricing.


PMG Share Price-> 10.75p
PMG Current Share Price vs 52 Week low of 10.75p on 14 Aug 24-> 0.00%
PMG Current Share Price vs 52 Week High of 21.25p on 28 Dec 23-> -50.00%
TTF Gas Price-> 40.16
Shares Outstanding-> 109,266,931
Market Cap-GBP-> £11,746,195
Market Cap-USD-> $15,093,861
GBPUSD-> 1.285
Cash-GBP (31 Dec 23 - RNS 28 Mar 24)-> £9,200,000
Cash-USD-> $11,822,000
Debt-GBP-> £800,000
Debt-USD-> $1,028,000
Enterprise Value-USD $4,299,861
Production (Net) (6M Interim Results 2023)-> 289
EV/Barrel-> $14,878
EV (Including Loan To CEO as Current Asset/Cash)/Barrel-> $3,007
Decommissioning-GBP (6M Interim Results 2023)-> £1,590,000
Decommissioning-USD (6M Interim Results 2023)-> $2,043,150
EV/Barrel Including Decommissioning Costs-> $9.0
Cash Component Share (GBP)-> 8.42p
Loan To CEO Tom Cross-> £2,670,000
Net Cash & Loan Comp Share (GBP)-> 10.86p

[ashkv] 31/7/2024 07:28

Yes the CEO appears to be overstretched and have empty pockets that he is unable to repay this sweetheart loan...

Bottom of the barrel ethics....

[haywards26] 30/7/2024 07:11

The interest rate is ridiculous..

[ashkv] 30/7/2024 06:22

Board of Directors have failed PMG shareholders to further facilitate this dubious dealing....



Extension of Loan and Renewable Energies exclusivity

Parkmead, the independent energy group focused on growth through gas, oil and renewable energy projects, announces a twelvemonth extension to the interest-bearing loan to Energy Management Associates Limited ("EMAL"). The outstanding amount of the loan is £2.67m (the "Loan"), having been reduced from £2.90m following the repayment of £230,000, ahead of the expiry of the loan on 27 July 2024.

Through this loan facility, Parkmead continues to benefit from an exclusive first right over all renewable energy opportunities identified or held by EMAL. The Loan will continue to bear a fixed interest rate of 2.5 per cent per annum, payable to Parkmead. This exclusive arrangement has already benefitted Parkmead significantly. Firstly, through securing ownership of the Pitreadie Wind Farm opportunity and secondly, through the introduction to Parkmead of the opportunity to acquire 100% of the operational Kempstone Hill Wind Farm, which has been generating revenues for Parkmead since 2022. Further renewable energy opportunities are currently being evaluated through this arrangement in the areas of wind and solar energies.

The entry by the Company into the Loan extension with EMAL, in which Tom Cross is a director and shareholder, is a related party transaction for the purposes of Rule 13 of the AIM Rules. The independent Directors (being those other than Tom Cross), having consulted with Cavendish Capital Markets Limited, consider that such arrangements with EMAL are fair and reasonable insofar as the Company's shareholders are concerned.

[chutes01] 24/7/2024 13:55

Repayment of loan and a stake in Topaz Malaysian gas project

[cat33] 24/7/2024 13:20

Good piece here from Jimhttps://oilman.beehiiv.com/p/oilman-jims-letter-july-24-2024Worth reading

[chutes01] 19/7/2024 10:19

Huge field
Advances now in producing heavy oil
Enquest
A lot nearby infrastructure
Massive

[scarboro] 19/7/2024 10:11

hxxps://www.research-tree.com/companies/uk/oil-gas-e-ps/parkmead-group-plc/research/cavendish/parkmead-group-one-of-the-largest-undeveloped-uk-oil-accumulations/129_2c2720e5-5e9e-46db-8cbf-c83c1ea5cd66/1825cd2d-7c2b-4906-8cb8-3279576cc4be

[mirabeau] 19/7/2024 09:46

Interesting RNS

19th 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"

[robs12] 28/6/2024 13:19

Whilst TC is off playing cricket in the caribbean at our expense, back in the real world of oil and gas, latest production figures look bleak.
Brakel still shut in - over a year now so I guess it's done and dusted.
Diever back on stream ...but LDS shut in during Feb/March/April.

Resulting in the lowest net PMG production since 2017 - at 194 boepd....

Graphs below:

[fhmktg] 14/6/2024 11:42

With Knight of the Realm Davey acting as Court Jester each day, just about sums up our body politic.
Time for the small boy in the crowd to point out ALL our Emperors have no clothes!

Foghorn Farage to the fore!

[scarboro] 13/6/2024 19:25

Why would anybody buy anything in the North Sea when we have grown ups creating energy policies that could be expected of a 5 year old

[therealdeal5] 13/6/2024 18:49

TC has given up on this, he used to know the North Sea like the back of his hand, now he is too scared to buy anything, he’s lost his bottle, a few windmills going, a tiny bit of Gas from Holland, lights out here soon, share price doesn’t lie, he may now take this private and then Revive it ! 😂🤷🏻‍♂;️👍

[robs12] 11/6/2024 18:54

I rather suspect TC is not in the office at all... and is in fact in the caribbean watching the cricket....given that they are still sponsoring the local cricket team despite the financial disaster the company has become....still some pennies left to watch his son...no doubt an expensed business trip...