Parkmead Share Discussion Threads

[colnabean] 05/4/2019 10:34

I've been holding this share since the beginning and it has been pretty turbulent. However I do believe that TC and his team know the North Sea better than most oil CEO's. I am impressed with his prudence and ability to maintain very tight control over cash and his deal making abilities. Personally I feel this share should be somewhere North of 90p as it is undervalued purely on an asset basis and TC is not one for churning out news stories as I suspect he doesn't want to attract a predator.

[fanshaw] 05/4/2019 10:29

Fardels Bear

Is there loan somewhere for substantial amount that could be added to cash
position or is that included in the GBP30m

[fardels bear] 05/4/2019 10:16

Yes that's included in the £30m.

[colnabean] 05/4/2019 10:02

Don't forget the funds from the sale/takeover of Faroa Petroleum.

[fardels bear] 05/4/2019 09:17

Worth a punt, Bh. That outer Moray sour crescent and greater Moray area can be worth £2.9b. Plus there's no debt, £30m in the bank, +£5m a year profit on the Dutch gas fields and Tom Cross at the helm. And, Bh, it's oil apart from the Dutch gas, and you know what that means.

[bountyhunter] 05/4/2019 08:44

Thanks but what does oga mean?
Got it!
Oil and gas authority! Didn't sleep well last night, that's my excuse.

[tongostl] 05/4/2019 07:57

It says:

"The Perth development is located in block 15/21C in the Outer Moray Firth. The initial Core Perth development will comprise up to five production and two water injection wells (phased) 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 April 2019. FID is planned for Q4 2019 with 1st hydrocarbons currently planned for 1H 2022. 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."

[bountyhunter] 05/4/2019 06:56

What is the oga page?

[fardels bear] 04/4/2019 23:09

I couldn't get the oga page to do anything.

[robs12] 04/4/2019 22:46

tongosti filtered.

Nevertheless, the OGA update is IMHO very good news. Shows that they are actively updating the 'news' flow. Both the website and twitter in last few days, and now OGA.

Very, very clear signal that game is on now (IMHO).

[fardels bear] 04/4/2019 20:26

I'm sure the rest of them do.

[tongostl] 04/4/2019 19:45

Not sure what that means my pedigree chum.

[fardels bear] 04/4/2019 18:54

Ay up. You another ripcord wonder?

[tongostl] 04/4/2019 18:38

Get ready for a boom.


hxxps://itportal.ogauthority.co.uk/pathfinder/currentprojectsindex.html

[rogerlin] 03/4/2019 16:33

Athena wasn't sour, nor Verbier as far as I understand whereas Polecat and Marten are and obviously the Perth/Lowlander "sour crescent". Can sour and non-sour fields be exploited together?

[fardels bear] 03/4/2019 15:29

If Andy Austin doesn't get in first.

[robs12] 03/4/2019 15:11

PMG and JOG are actually 'connected' through Athena, where JOG still have 15%, though some lack of clarity (to me at least) over whether they are still liable for any development costs should it be developed as a part of GPA.

A positive result at Verbier might have had a positive read across to Polecat/Marten in terms of reserves increases for PMG. Polecat and Marten are both previous discoveries (i.e. there is oil there, no dusters!), but again relatively small.
A 'group hug' development scheme is in the planning, so likely verbier would be a part of that, assuming there is 25mbbls.

I think PMG might make a play for them (JOG) now.

[yasrub] 03/4/2019 13:24

Re JOG - Verbier is likely to be involved prodn development of Polecat & Marten. In someways the Verbier partners with such a result for economics to work might need to be accomadating/receptive to PMG ?

[kfr20] 03/4/2019 13:06

Good volume the last couple of sessions post breakout.

[fardels bear] 03/4/2019 11:17

Skyship, it did pull back to just above 58p in very early trading this morning:

Open: 61.40p Trade high: 63.56p Year high: 82.00p Market capitalisation: £59.36 million Previous close: 62.40p Trade low: 59.00p