Parkmead Share Discussion Threads

[chutes01] 17/11/2023 09:38

Tom done well

[someuwin] 17/11/2023 09:26

"Net cash from operations was strong at £6.5m, 8% ahead of our forecast and a sharp improvement on the £1.3m outflow in FY22. This, alongside lower capex, means the balance sheet remains in rude health with minimal debt (£0.8m) and period-end cash of £11.6m, down from £23.3m, primarily as a result of the £17m of decommissioning expenditure across the UKCS during the period (Athena, Platypus and in the Greater Perth Area).

Parkmead’s decision to accelerate decommissioning activity to mitigate any market tightness and avoid inflationary/supply chain issues has been vindicated after these legacy decommissioning activities were successfully completed on time and on budget. Post period end, the remaining subsea removal activities have been completed, leaving Parkmead with no further decommissioning liabilities on the UKCS."

"Parkmead has continued to grow its clean energy asset base, increasing revenue by 22% in the period to GBP14.77 million. Our Netherlands gas fields have performed very well and the full integration of our acquisition of Kempstone Hill Wind Farm complements the Group by providing another revenue stream.

Our Company now looks forward to an exciting next phase of growth as we build on these two key business areas of renewable energy and natural gas production."

[mallorca 9] 17/11/2023 09:17

£11m

[chutes01] 17/11/2023 09:15

What’s cash level

[mallorca 9] 17/11/2023 09:04

Remaining De-Commissioning Provisions now only £2.8m.
Debt £900k.

So there we have it ...the Balance Sheet is now looking pretty clean.

[mallorca 9] 17/11/2023 08:35

At the end of August last year this had an share price of around 80p.
That was mainly on the back of Perth.
We now have the legacy items behind us , reliable high margin revenue from Nat Gas and Renewables and a big oil project in 2024.
I'd say that the possible reward here outweighs the risk .... in fact its a no brainer.

I bought some of these a couple of weeks back (I posted this at the time) , I only wish that I had bought more.

[luffness] 17/11/2023 08:27

Just the ones on 85% margins

[parob] 17/11/2023 08:22

Market cap isn't that much more than cash.

[mallorca 9] 17/11/2023 08:21

pd.....

but the gross profit here is off the chart .... plus .... there is no exploration premium in the current price ... and Skerryvore seems very much to be happening.

I really will be very surprised if this share price has not hit 30p by year end ... that is not a ramp , just an honest assessment.

[parob] 17/11/2023 08:19

This seems incredibly cheap based on todays update. Buying.

[pdosullivan] 17/11/2023 08:06

How many oil companies are trading on 5x revenues?

[mallorca 9] 17/11/2023 08:01

Having crunched those numbers , the Market Cap should be close to £100m !

Absolutely fantastic gross profit margin of the dutch gas fields of 85% gp.

Forward looking annual revenue of around £20m pa.

Still strong in cash !

It does appear that most of the legacy items are now out of the way and 2024 has strong, highly profitable revenue from Nat Gas and Renewables ..... and of course 2024 has Skerryvore which could well be the big one.

Very hard to see much downside given today's ridiculously low MC.

Finally .... I really do expect to see an announcement next week re the reduction/removal of the Windfall Tax.
North Sea Oil Co's are refusing to drill unless this is dealt with.

[yellowdog] 17/11/2023 07:42

If, as you say, decommissioning cost are largely satisfied, then PMG is very cheap.

Mkt Cap £15m cash £11m - everything else in for free.

[florence141414] 17/11/2023 07:28

So if I’m reading that correctly underlying cash flows are 4.4m after normalising for impairment and decommissioning costs (which are now substantially complete).

Interesting.

[chutes01] 16/11/2023 11:41

enjoy your hol TRD, a nibble here will pay for a few long ones over there.

[therealdeal25] 16/11/2023 11:26

Thanks, Carrie an has hurricane season end in November, we go every year and never had a problem, and no seaweed on the beaches as the wind is moving in a different direction at that time of the year! 👍

[sonofthebull] 16/11/2023 08:52

TRd25
Enjoy your holiday....Most villages and towns are aware of the implications of burst river banks.I hope you have done a hurricane forecast.

[therealdeal25] 16/11/2023 08:42

SOB that’s the way to deal with it, laugh, all the money means nothing without health, it’s only money, i have a saying, if you can make £1 you can make a million

I’m off to the Caribbean Sunday, 2 weeks of blistering weather, London has been shocking with rain, but I guess I spin a positive on it and say up North they had it worse, see just laugh, you will live longer, I’m 120 years old

[sonofthebull] 15/11/2023 15:55

Trd25😂ԅ14;😂😂;😂😂😂🤡
29313;🤡313;🤡

[chutes01] 15/11/2023 15:13

on cusp of major news breaking, N Sea deal, too cheap now, set to rocket on announcement from Cross

[bountyhunter] 15/11/2023 15:12

Maybe something will emerge from the omnishambles! 🚜🐐🏡🧜9453;⛴️⚓

[therealdeal25] 15/11/2023 09:38

PMG are done lads, come on stop trying to talk it up, tiny percentages in Holland, never going to make this company grow, you need revenue and lots of it, you need friends to bring in partners that can pay for the drills, PMG have neither that anyine is really interested in, TC has lost it, he truthfully looking back never had it, he just got lucky first time, he is now scratching his head, if AUPEC couldn’t of opened doors for him then nothing can! AUPEC gone now, no staff left, even Ryan bailed, 😂😂😂 bye bye PMG won’t be much longer now

[chutes01] 11/11/2023 16:43

300k buy friday, results within 2 weeks, bombed out price set to recover on deal news as Cross gets to grips with the omnishambles
Renewables bolt on to aid cash generation, O/G deal to utilise vast tax losses may be a game changer

[mallorca 9] 08/11/2023 09:00

The legacy stuff is pretty much gone now.
The Dutch gas assets are first class and provide high margin revenue.
2024 is now a clean slate ....
The Political tide also seems to be turning.
The Chancellors Autumn Statement is later this month ..... watch for the Windfall Tax being reduced / removed.