Parkmead Share Discussion Threads

[sludgesurfer] 23/11/2022 22:04

I don't understand this:"Greater Perth Area ("GPA") farm-out process launched in September 2022"Have they not been trying to farm out this sour stuff for years and it's just noone wants it? Despite the warm fuzzy words about "strategic partnerships...blah blah blah" CNOOC just aren't interested in taking it across Scott?

[chutes01] 23/11/2022 21:50

You’re a crank son
Full of bull
Stop running your mouth on here

[sonofthebull] 23/11/2022 17:55

Chutes01
I'm not sure what you are trying to say....

[chutes01] 23/11/2022 17:08

You need to keep your mouth shut a bit more son

[sonofthebull] 23/11/2022 16:55

The share price sits at 58 pennies hardly a sign of going under !
Let's see what diever brings to the table !
I'm not stating Parkmead are buying Hurricane energy !

[chutes01] 23/11/2022 16:41

Cross needs to be able to sell Perth now
This decomm bill has wiped all the cash pile
Barrow boy scammed shareholders today

[therealdeal25] 23/11/2022 16:37

SOB no doubt PMG are buying them is that what you’re saying? Did they buy Xcite energy like you stated about 10 years ago? Lol

Listen PMG are now the targets not hurricane, PMG dont have any money left, they can’t develop anything! I told you TC was a scammer! He isn’t the only one buddy, Deltic energy, Predator oil, Boil, many many more, rising on sweet FA, while people are buying others are running for the doors!
Deltic spudded today, the share price collapsed, if that isn’t proof enough for you how corrupt AIM is, then you need help!

Just sit down tonight and have a brandy, and ask yourself, what has TC done to this share price since he took over? and be honest with yourself!
Never in my wildest dreams would I of guessed he would of failed so miserably here! I said a while ago, it was a pump and dump rise! I dint take any pleasure in being right, as I don’t like seeing people lose money!

[chutes01] 23/11/2022 15:15

Bit of a kitchen sink here
But why ?

[nestoframpers] 23/11/2022 14:05

Odd that the price fell today PMG is a TO target imo , what are the biguns waiting for as POO is only going up.

[sonofthebull] 23/11/2022 13:46

TRD25
There's still plenty more bulletins 2 drills diever.…. Skerry vore GPA platypus.....Who's buying Hurricane energy ?

[scarboro] 23/11/2022 12:03

Whether bull or bear why would anyone make a comment that wasn’t constructive to their view, including some rationale or insight…..anyone who posts anything other is bang average

[therealdeal25] 23/11/2022 11:52

Post from SOB 16th November

Sonofthebull16 Nov '22 - 18:47 - 11666 of 11685
0 1 0
Share price can only go up for Parkmead......To many news bulletins on the way !


Really? Yes you got the news Bulletin, this company is dead now, no Cash no production, come on Tom time to wind it up son, you have it a good run at it, but you just lost the plot buying a castle previously, and could only afford farm recently, and I bet he regrets that now lol

SOB £2 by Xmass son, don’t panic Mr Mannering!

[gargoyle2] 23/11/2022 10:34

Re decom costs, Finncap say: "FY23 decommissioning spend is now anticipated to be £19.2m versus our £12m forecast. This expenditure relates to historical well decommissioning on Athena, Platypus and in the Greater Perth Area (GPA). Some of the increase is due to Parkmead’s decision to accelerate decommissioning activity to mitigate any market tightness and avoid inflationary/supply chain issues. Some of it also reflects Parkmead’s desire to be a good steward of assets, especially with the UK 33rd Licensing Round ongoing. A significant portion of the costs relate to the GPA and are under dispute with a historic licence owner, so may ultimately be recouped. Moreover, taking on this activity now will allow Parkmead to focus on its growth opportunities free from future abandonment liability risk."

[mallorca 9] 23/11/2022 10:29

De-commissioning provisions of £19.2m .... WTF

Will these surprises EVER end !

[mallorca 9] 23/11/2022 09:53

AGAIN I am sorry to have to say that there is something very fishy about the results ......

Profit before tax £4m
Tax paid £4.8m

Net loss £0.8m

Again , I just feel that Tom is using PMG to offset tax in his other business areas .

[hastings] 23/11/2022 07:35

Broker summary this morning-Parkmead has reported record FY results, driven by its unhedged exposure to strong European gas prices via its low-cost onshore Dutch gas business. This exposure could be increased further via an impending two-well drilling programme that has the potential to deliver significant additional volumes rapidly. Parkmead offers more than just gas price exposure though: its UK North Sea and Renewables prospects have been greatly enhanced by strong energy prices, a favourable regulatory environment and the investment incentive provided by UK windfall taxes. Parkmead’s balanced portfolio, deep project inventory and strong balance sheet position it well for the current storm and offer investors multiple value accretion opportunities.

[fhmktg] 23/11/2022 07:29

Cash flow will be enhanced quickly and at relatively low cost through drilling in Netherlands and solar panels/ battery storage at Kempstone Hill.
Then look out for farming in announcement for GPA and drilling schedule for Skerryvore this coming year.
Dum Spiro spero.

[ashkv] 23/11/2022 07:08

Results out for PMG -

Taxation paid of £4.8m (2021: £0.4m) relates primarily to Parkmead's Netherlands assets and reflects high revenue and very low operating costs across the onshore portfolio. Accordingly, the Group's net loss for the period fell significantly to £0.8m (2021: £13.8m). Parkmead maintains a strong balance sheet with total assets of £86.3m (2021: £78.7m) as 30 June 2022. Cash and cash equivalents at year-end were £23.3m (2021: £23.4m) and interest bearing loans receivable were £2.9m (2021: £2.9m). The Group's net asset value was £57.0m (2021: £57.7m). Debt within the Group remains minimal and was £0.9m at 30 June 2022 (2021: £0.5m). This prudent approach to external debt is an important part of our financial discipline.

Is the rock bottom interest rate loan by CEO ever going to be paid back?? PMG is a piggy bank for the unscrupulous dude - blather about great results etc - However, net cash is down marginally year-on-year and same with group net asset value...

[someuwin] 21/11/2022 12:33

Bought some today - all looks good.

[gargoyle2] 20/11/2022 18:25

According to Momentum Investor, analysts expect the Dutch business alone "to power an £8.2m pretax profit and eps of 3.2p in FY’22, rising to £17.5m and 8.2p, respectively, in FY’23."

So a forward (2023) PE of 7.6 for the Dutch gas assets on a stand alone basis.

[clive7878] 20/11/2022 13:36

hastings - thanks for your post on your forward pe ratios,
the Investors Chronicle was implying a pe ratio of 4.5,
and rated as a buy, which seems over optimistic,
thus the buying on Friday,
but I could not clarify the forward position.
Simply Wall has a favourable comment though,
but nothing really substantial.

[gargoyle2] 20/11/2022 08:40

Tipped as a buy in Momentum Investor this weekend.

[hastings] 19/11/2022 16:05

Apologies, fwd PE under 8, good old predictor text!

[hastings] 19/11/2022 16:04

Broker has EPS of 3.2p for the year in play rising to 7.9p next year, so on a fwd PE of under 5. Could prove conservative though and also worth factoring in the big net cash position relative to the mkt cap, so very good value imo.