Parkmead Share Discussion Threads

[fardels bear] 16/9/2019 12:06

You mean you've bought in here without researching the history?Most of us were in before GPA was called GPA. In fact when I bought into Perth it was owned by DEO and not Parkmead at all.

[mallorca 9] 16/9/2019 11:53

11_percent

yes it's worth reminding ourselves that news could break on Scott at any time.

Sentiment has never been so low so it's probably the time to buy in / add.

[11_percent] 16/9/2019 11:36

GPA
Ok…is just me, or is this Top Secret…………does anyone have any info on GPA.

There is no presentation from PMG on anything…̷0;.never mind GPA which, allegedly, is one their prime prospects.

The latest info I have is March 2019, from in the interim results…..see Note 1 below.

What we know for sure, and it is:

PMG have/are talking to CNOOC with a view to a tie-back to Scott…six months ago.

PMG have/are talking to some of the service companies, for some reason…….six months ago.

Note 1.
Parkmead has entered into commercial discussions with the Scott field partnership, led by China National Offshore Oil Corporation (CNOOC) International, in order to explore terms for a tie-back of the Greater Perth Area (“GPA”) oil hub project to the Scott facilities •
A tie-back to Scott is one path to potentially unlock the substantial value of the GPA project •
Parkmead also holding discussions with a number of leading, internationally-renowned service companies in relation to the GPA project •
CNOOC’s Scott facilities lie approximately 10km southeast of Parkmead’s GPA project •
Parkmead now in full control of the GPA oil hub project with operatorship and 100% equity
AND
Parkmead has entered into commercial discussions with the Scott field partnership, led by China National Offshore Oil Corporation (CNOOC) International, in order to explore terms for a tie-back of the GPA oil hub project to the Scott facilities. The Scott facilities lie just some 10km southeast of the GPA project and a tie-back could yield a number of mutually beneficial advantages for both the Scott partnership and Parkmead. A tie-back to Scott is one path to potentially unlock the substantial value of the GPA project. Parkmead is also holding discussions with a number of leading, internationally-renowned service companies in relation to the GPA project.

[cyan] 16/9/2019 11:27

On the subject of PITREADIE Farm; I note a poster on LSE has posted what he claims is a PMG response to various questions.

Very much the same as in the RNS but stressed " All property on Pitreadie’s land is to be acquired by Parkmead " .

Suggestive implication is the mansion under constuction is included.

Usual caution about an unverfied source applies.

PMG should have issued a general public statement to all being explicit about the new build.

[cyan] 16/9/2019 11:01

Gas SHOULD be the priority; not playing Farmville

[mallorca 9] 16/9/2019 10:48

More likely that exploration drilling will take place in Netherlands first.
Nat Gas is the way forward.

[cyan] 16/9/2019 10:35

Back to PERTH. We know Faroe were keen in 2011 but eventually wrote its value down to zero and in 2018 PMG took their interest to 100%.

In the early optimistic days there were hopes PERTH would be producing in 2018



We will just have to wait and see if CNOOC want to process at Scott.

[mallorca 9] 16/9/2019 10:34

This will soon be back to 50p.

The full year results will show good revenue and profit growth verses the previous period.

Nat gas pricing firming .

The focus on platypus will increase … this will be a big revenue changer … triples current revenue.

[11_percent] 16/9/2019 10:30

OK....there is the first problem......no presentation......am I missing something.

[11_percent] 16/9/2019 10:04

Just away to look at the Scott tie-back proposal.....will let you know.

FB....I assume you are the BB police...…R30;…..

[fardels bear] 16/9/2019 09:59

Perth is produce able from a Scott tieback. Chutes will tell you this on says when he's holding.H2S is more easily dealt with nowadays.

[cyan] 16/9/2019 09:54

The Miller field was, coincidentally, like Perth ,also discovered in 1983.

Perth remained undeveloped but Miller went into production in 1992.

Miller was huge and 345 million barrels were extracted before production ceased.

Do not know what ppm H2S Miller had. Perth is described as high H2S & high CO2

There have been studies in to producing from PERTH. this is worth reading;

www.xodusgroup.com/experience/perth-oil-field

[11_percent] 16/9/2019 09:16

GPA

I don't see H2S content of the produced fluids as a problem.

BP had a similar problem with their Millar Field. They selected materials that were resistant to corrosive effects, Duplex, Inconel, 316 lined vessels, etc.

When the oil had been stabilized and the corrosive constituents removed, the oil was exported via a carbon steel pipeline.

The question that PMG always ask is...….how much does a corrosion resistant pipeline cost.....then they say, that is too dear.

This thinking shows that PMG don't want to do a traditional development on GPA......ie, platfome/floating production facility.

[francoismyname] 16/9/2019 08:58

No reasons to buy here, loads of reasons to sell.

You lose 5% of your dough before you kick a ball here with the MM's mark up. No tight spreads here.

Then you have a BOD which has a lot of questions to answer.

Plenty of small cap companies with potential and a BOD who are aligned with shareholder value.

[11_percent] 16/9/2019 08:58

XEL was a scam....

[cyan] 16/9/2019 08:40

PMG is not another XEL.
XEL hoped to exploit the heavy oil Bentley field. For a long time that field was considered a credible development. Its very large; 300 million barrels.

XEL was undone by their trying to force the development case themselves which necessitated them taking on enormous debt. They then found themselves forced into the position where the bondholders had them by the throat. Possible farmins stepped away as POO slumped and ultimately XEL could not satisfy their commitments.

XEL went bust. Others have since latched on to Bentley and there is a reasoned chance it will be developed.

PMG is not encumbered by gigantic debt. I do not see it going bust.

It is very disappointing, none-the-less, to see PMG taking on PITREADIE Farm ltd and its £3.6 million debt that matures in circa 4 years.
We have discussed this at length and, imo, it is a stinker.
That takes me rather neatly to a really smelly asset; the Perth Sour oil field. The oil contains the dangerous Hydrogen Sulphide and has high CO2 levels.
Discovered in 1983 ; its passed through several hands and remains undeveloped.
PMG intimate a decision will be made next year on a GPA development; just have to wait and see.
Personally not convinced Perth Sour oil will flow because of its expensive to handle noxious gas content.

The gas assets, like Platypus, should be the priority.

[11_percent] 15/9/2019 22:38

But I would miss the banter here...…..AND all my new friends.

Just getting started......sp is being supported at 40ish...….by who.....it aint the company.

The share price RISES ON THE RUMOR.....and the PIs jump in.

There is a remarkable correlation of the share price frontrunning the good RNSs.

Question…̷0;…is it just a leaky company or is there "a mole in the circus".

Its turning into another XEL.

[11_percent] 15/9/2019 09:50

Ok......will try harder next time.......just adding a humour as this not the happiest BB on ADVFN.

[tournesol] 15/9/2019 09:10

11%

that's one of the saddest posts I've ever read

it's transparent and it's unconvincing on just about every possible level

if you are going to lie, you should try and make your lies at least vaguely plausible.

[fardels bear] 14/9/2019 23:02

Wrong thread..

[fardels bear] 14/9/2019 23:02

I keep being warned that Tunisia isn't safe but everyone I have me is nicer than most I meet on here..Yourself excluded, bien sur..