Parkmead Share Discussion Threads

[rogerlin] 21/5/2019 08:23

I think we will need to know the result of this round, closed 2nd May, awards Q3/4 it says in the small print here.

[skyship] 21/5/2019 08:01

JOG written up by Simon Thompson in an IC Online article

[fardels bear] 20/5/2019 22:26

In order to tie in Polecat and Marten to Verbier, Verbier needs to be declared commercial. Something happened today on JOG but I don't know that it was a decision on that commerciality.

[yasrub] 20/5/2019 17:31

I am hoping someone with the sector knowledge can direct me as to what is the realistic expectation with Polecat and Marten coming online. With JOG reporting Verbier was at the lower end of estimations I recall the initial Verbier discovery announcement gave some BB talk that Polecat and Marten might tie in. I wonder whether this strengthened PMG's hand in that the Verbier partners need fields like Polecat and Marten to make it commercially viable or weakened such a scenario?

[carlsagan1] 19/5/2019 11:37

Have any of you gentlemen used X-O(by jarvis) or iweb-sharedealing(by halifax)??

Interactive Investor will be upping there fees again from June 1st from £22.50 a quarter to £9.99 a month, ive decided its time I finally transferred to another broker.

x-o and iweb advertise a simple flat trade-only fee of £5.95 per trade and have no inactivity or monthly/yearly admin charges.

[fhmktg] 13/5/2019 08:29

Robs, looks like a pretty good steer on the Platypus project, with a short push back to Q1 2020 for a financial commitment.Now we need a similar steer on timing for the Scott tieback andWe are off!

[chutes01] 13/5/2019 05:13

let's get this clear of 75p level

[robs12] 12/5/2019 18:27

Doesn't seem to have been picked up here - the OGA site (Platypus project status, by Dana) was updated on Wednesday:

"Project Summary:
The Platypus field is located in the Southern North Sea gas basin in Blocks 47/5b and 48/1a, 18 km (11.2 mi) north-northwest of the West Sole gas field and 15 km (9.3 mi) west-southwest of the Babbage field. As a result of the successful appraisal well in August 2012 the field is being progressed towards development subject to an economically acceptable transportation offtake route being secured. Further detailed studies and market enquiries are planned for a subsea tie-back in Q2 2019 with sanction expected in Q1 2020 and First Gas in Q4 2021."

There is a new challenge:

"Supply of a subsea production control umbilical for a 24km subsea tie-back within a 12 month period. Delivery estimated as Jun/Jul-2021."

[fardels bear] 10/5/2019 14:37

So there..

[tournesol] 10/5/2019 12:54

derf

all oil companies are "worth" whatever their assets could be sold for in the market either singly or collectively.

some of these assets are producing fields so will already figure to some extent in the figures for production and cashflow. their implicit value is not however the value of the cashflow this year or next, but the value to the end of their life - so life expectancy is key. 1000 bopd for 20 years > 2000 bopd for 5 years kind of thing

many other assets will not yet be in production, so their value depends on their contents, plus the costs of recovery all adjusted for the risks remaining

these risks will range from 90% to 10% depending on the results of the exploration work done to date.

Consider HUR. It has never produced a single barrel. But its discovered fields contain billions of barrels of oil waiting to be produced. production is only days away for one of its fields and just a few years away for another. But neither asset is risk free and there are different opinions about the scale of risk.

So what is HUR worth? obviously it is worth (oil in the ground)x (expected profit per barrel)x(chances of success aka risk) adjusted for timing

If you can work that out, you can then divide the answer by the number of shares in issue to reach a value per share.

Comparing the price per share of 2 different companies is absolutely meaningless - By all means compare the enterprise value or market cap but when it comes to share price = one might have a billion shares in issue, the other a mere million. So there is no basis for such a simplistic comparison.

[derf1953] 10/5/2019 12:37

Yes i see PMO's debt us$2.3billion but they reduced it by us$393billion last year.So are you saying PMG is valued by untapped Oil and Gas?. not knocking PMG i hold loads but share price has lead boots.thanks for replys.

[fardels bear] 10/5/2019 11:05

PMO has mountains of debt.. Billions.

[tournesol] 10/5/2019 10:47

derfwhat exactly is the point you are making?there is no correlation between production/profit and share price. why would you think differently?you might perhaps expect some correlation between p/p and market cap. although you'd be wrong again - that's not actually the case in E&Pwhat you should be looking at is the value of the underlying assets after applying appropriate discounts for risk. That should be correlated with enterprise value/ market cap. But none of the above correlates with share price. Nor would anyone expect it to.

[derf1953] 10/5/2019 10:00

PMO 80k boepd profit US$133.4 share price 88p.PMG 8300 boepd profit £3.8m share price 66.8p.?

[fardels bear] 10/5/2019 09:53

And relax...

[tongostl] 09/5/2019 19:12

Let's hope the relentless buying continues tomorrow. £1.50 by lunch time anyone?

[fhmktg] 09/5/2019 19:12

Thanks, I missed that.Tie back to Babbage might still be the chosen route for Platypus out put?Still interesting times.

[chutes01] 09/5/2019 17:40

Interesting day
Let’s see how this develops tomorrow

[fhmktg] 09/5/2019 14:22

I think Spirit Energy are the operator of the Babbage field after Premier sold out to Verus who then sold on to Spirit.Dana are the other main partner in Babbage, so a ti- back of Platypus to Babbage could be on the cards?Links to Dana continue!I'm sure they will keep an eye on Tom to determine if and when to make him an offer for PMG.As the Chinese curse goes ' May You live in interesting times'

[specul82] 09/5/2019 14:00

Any news on drilling the Babbage field 50/50 pmg and Atlantic pet This could also tie back to the platypus

[lostit] 09/5/2019 13:46

Just to get the Aupec bit right. TC was a major shareholder. They specialised in IT benchmarking and Petroleum Economics. Prof Kemp was the other major shareholder and David Rose who was running it on a daily basis was a smaller shareholder. TC reversed it into Parkmead and for a time Kemp and Rose were minted. Rose is about to retire so not sure what will happen to it now.

[fhmktg] 09/5/2019 13:16

https://www.zennorpetroleum.com/operation/licence-p1242/This gives the timing for deciding the future of Platypus.I wonder if this still holds, in which case news within the next month?

[ziblot] 09/5/2019 12:46

It is Aupec and is it not Professor Rose from Aberdeen University? Yes, just a small business. I still hold from 2009 and don't expect anything anytime soon I'm afraid. Not the first time I've been wrong.