Parkmead Share Discussion Threads

[fardels bear] 04/7/2019 20:35

In the UK, Edison E&P holds 10% of the Scott field and 16% of the Telford field, both of which are producing assets operated by Chinese firm Cnooc, in the central North Sea.The company has a 25% stake in Cnooc's 250m barrel Glengorm discovery, also in the central North Sea.It was hailed as the largest gas find in the UK since Culzean in 2008.The oil and gas arm of Edison, part of French utility EDF, also has stakes in a number of mature producing assets in the southern North Sea.* I suppose whether or not it would be of interest to Tom depends upon the state of negotiations currently with CNOOC and the Scott tie in for GPA.One to watch though..

[kinwah] 04/7/2019 20:00

Just a thought. Might Parkmead be interested in the North Sea assets that Energean has just bought from EDP? Energean have said the assets will be sold and a figure of £75m could be achieved. The assets include producing interests in the Scott and Telford fields which are close to Parkmead's Perth and Dolphin acreage. Obviously a lot of consideration goes into whether or not the acquisition would make financial sense but it would seem the right size for a transformational deal for PMG. Anyway we should find out soon enough who picks up the assets.

[francoismyname] 03/7/2019 09:29

Buyers galore at these low prices ....NOT

NOT you tubby

[chutes01] 02/7/2019 18:08

yeh, but life is corrupt mate, why should the market be informed if either CNOOC/PMG or both don't want to say, we all know the project will go ahead, Plaform management have been offshore months ago telling the workforce it's happening.
It's big oil, near piper/claymore/tartan fields, will come online circa 15K Bbls/day
Let the market drift and pick up cheap shares.

[francoismyname] 02/7/2019 17:50

More pie in the sky

No one buying.

Tom in his castle

Could be low 40's soon.

Glad i didnt top up in the 60's like Tubby did.

Not you tubby

[fardels bear] 02/7/2019 17:38

Wouldn't you think that news on Scott tieback to be material and thus need to be subject of an RNS?

[fhmktg] 02/7/2019 15:26

Ooh!you tease!

[chutes01] 02/7/2019 14:30

news on the Perth tie-back via Scott can appear at anytime,negotiations with CNOOC have now concluded, the shares won't trade for less than 150p then, also watch for Skerryvore

[ziblot] 02/7/2019 13:21

I used to wash the cars with him.

[fhmktg] 02/7/2019 09:40

Sounds like my kind of boy, Archie!

[archie61] 02/7/2019 09:06

Fhmktg, Tom’s not a canny Scot! He’s a London boy who grafted his way out of poverty, grew up near me.

[rogerlin] 02/7/2019 08:28

Not so excellent at the moment by the look of it.

[francoismyname] 02/7/2019 08:15

At some stage low gas prices will hit them, if not over past 6 months they will need re-negotiating soon at rock bottom prices.

The biggest crime is not putting the cash pile of £25-30m to work in any way over the past 18 months.

The BOD and especially Tome need a righ royal kicking for that.

Not you tubby.

[fhmktg] 02/7/2019 08:12

Rogerlin, without knowing the detail of Tom's contracts, it seems reasonable that the relatively low volumes of PMG's Dutch gas are not traded on international markets, but sold as short term supplies into local markets.So he is able to take advantage of spot demand where it suits, with the Nasdaq and other pricing as a backstop.All IMHO of course!He is a canny Scot after all.

[rogerlin] 02/7/2019 08:04

Reference here to "excellent regional gas prices" in last reporting period, suggesting perhaps they are not fixed?

[skyship] 02/7/2019 07:36

tournesol - "..and that gas is sold via long term sales contracts with fixed prices not spot, so completely disconnected from POO"

Many thanks for that, a most welcome read compared to Mallorca's 8426 above - "With Nat gas prices having been rock bottom for the last 6 months , unfortunately the November results will show a significant drop in revenue and possibly even a return to an operational loss."

Is that fixed prices aspect covered in one of the recent statements? If so could you either post a link or advise where I should look.

Thnx again...

[fardels bear] 01/7/2019 22:50

But of course the inconvenience of that fact doesn't suit some people on here.

[tournesol] 01/7/2019 22:47

and that gas is sold via long term sales contracts with fixed prices not spot, so completely disconnected from POO

[skyship] 01/7/2019 22:04

Problem is our fortunes are currently tied to gas, not oil!

[clunes100] 01/7/2019 17:48

Oil has gone from US$60 to 65 in June and talk of an oil supply shock and 90 a barrel, this may actually help PMG, combined with relatively weak pound.