Parkmead Share Discussion Threads

[mick1909] 17/11/2023 16:27

30th may RNS TR1 would suggest over a billion??

[mick1909] 17/11/2023 16:27

Total positions of person(s) subject to the notification obligation % of voting % of voting rights Total of both Total number rights attached through financial in % (8.A + of voting rights to shares (total instruments 8.B) of issuer (vii) of 8. A) (total of 8.B 1 + 8.B 2) ------------------ ---------------------- ---------------- -------------------- Resulting situation on the date on which threshold was crossed or reached 11.03% 0.00% 11.03% 109,266,931 ------------------ --------

[avsome1968] 17/11/2023 15:16

110m shares in issue.

[mick1909] 17/11/2023 13:51

Is there a billion shares in issue?

[someuwin] 17/11/2023 12:21

Also £150m of tax losses they can monetise.

"Finally, management continues to evaluate a number of acquisition opportunities to build on its solid low-cost Dutch gas production base and its growing UK onshore renewable energy presence. Again, Parkmead’s £150m pool of UK ring-fenced tax losses will help as they can be utilised to improve the economics of North Sea production acquisitions."

[someuwin] 17/11/2023 12:16

Cavendish updating their figures, so will probably come in with a higher target than their current 45p

"...FY23 adjusted PAT of £3.7m was up strongly on the prior year’s £2.2m loss and comfortably ahead of our £0.7m forecast. We are reviewing FY24 estimates post the results and will provide updated forecasts in the near future."

[chutes01] 17/11/2023 12:07

The guy is a nuisance across these boards, causes havoc wherever he is permitted, a hazard to the investment community and the sharing of information.
Nasty piece of work.
Avoid.

[tongostl] 17/11/2023 12:02

I think someone's been caught short this am.

25p absolute minimum here.

[chutes01] 17/11/2023 12:00

why are you accusing the company of posting incorrect figures, reported to company/ADVFN for removal.

[ashkv] 17/11/2023 11:49

Reported to police.... back to your boyfriends soon..

chutes0117 Nov '23 - 11:45 - 12366 of 12367
0 0 0
ashkv = Deport

[ashkv] 17/11/2023 11:48

PMG's Main Asset - 15%

Netherlands Gas Projects
In July 2021, Parkmead completed the acquisition of a gas
royalty associated with the Group’s existing interests in the
Drenthe IV, Drenthe V and Andel Va licences in the Netherlands
from Vermilion Energy. These licences contain the Grolloo,
Geesbrug and Brakel onshore gas fields, respectively.
The acquisition doubled the Group’s effective financial interest
from 7.5% to 15% (in line with Parkmead’s working interest in
the licences). This royalty was previously held by NAM (a Shell
and ExxonMobil joint venture) and came with the licences when
they were acquired by Parkmead. The consideration for the
royalty was €565k.
The acquisition is already proving to be of significant benefit to
Parkmead as it was completed ahead of the recent increase
in energy prices. It is expected that the royalty deal will also
significantly extend the producing life of these fields, through
greater partner alignment.
Our Netherlands production was some of the most efficient
and profitable in Europe during 2022, on a per-barrel basis.
Average gross production for the financial year across the
Group’s Netherlands assets was 21.7 MMscfd, approximately
3,740 barrels of oil equivalent per day (“boepd”).
We recently announced the spudding of the ‘LDS’ two-well
drilling campaign in the Netherlands. The LDS wells are
being drilled from the existing Diever well site and will target
a combined mid-case gas-in-place of 37.2 billion cubic feet
(“Bcf”) in the prolific Rotliegendes reservoirs within this licence.
The production tie-in period for these onshore targets is very
short and, provided success at LDS, would result in significant
additional revenue and cash flow for Parkmead.

[ashkv] 17/11/2023 11:45

Tom Cross Salary GBP 506,000

For what???

[ashkv] 17/11/2023 11:35

100mn company on back of 500-600 boed production... good humor :):)

And an uproven well...

What should Deltic with biggest UK gas discovery of the decade be valued at???


mallorca 917 Nov '23 - 08:01 - 12342 of 12362
0 2 0
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.

[ashkv] 17/11/2023 11:33

Also be wary - as to "period end cash" versus current cash...

adding up the taxes along with outgoing for decommissioning the cash figure doesn't reconcile - it is certainly lower...

[ashkv] 17/11/2023 11:28

It looks like the loan has been extended further... Same sweetheart near zero interest rate for this unsecured loan? Is it ever going to be paid back or forever "rolled over"...

You have been warned on the poor governance of PMG....

4. Interest bearing loans

On 27 July 2017, The Parkmead Group plc entered into a credit facility with Energy Management Associates Limited, whereby Parkmead agreed to lend up to £2,900,000 to Energy Management Associates Limited.

The loan has a period of two years, with a fixed interest rate of 2.5 per cent. Interest charged by Parkmead during the period amounted to £37,000 (Six months to 31 December 2021: £37,000, Twelve months to 30 June 2022: £73,000).

On 26 July 2021, The Parkmead Group plc entered into a 24-month extension of the loan.

[ashkv] 17/11/2023 11:26

Surprised this dog has perked up - suckers buying in to this value trap.

Loan to Tom Cross - CEO / Promoter for GBP 2.9 million at negligible interest rate not paid back.

Hint of further land acquisition from ??his family?? for "solar projects"

No update as to Skerryvore cost? Will cash on balance sheet pay for 50% of costs or is an equity raise coming?

I bought at 13p - and am out today for a nice profit... :) Has been a reliable range trade :)

[someuwin] 17/11/2023 10:22

The trend should be firmly upwards from here now.

[someuwin] 17/11/2023 09:59

Yes - Tom Cross is a big mover in energy markets. He founded Dana Petroleum and lead it until sold for £1.9bn.

He is also the largest shareholder in PMG with 25.8%

"Thomas Cross
Executive Chairman
Tom is a Chartered Director and petroleum engineer with extensive energy sector experience, spanning projects in more than 20 countries. Tom was the founder and Chief Executive of Dana Petroleum plc through until its sale to the Korea National Oil Corporation in 2010. Prior to Dana, he held senior positions with Conoco, Thomson North Sea, Louisiana Land and Exploration and was Director of Engineering at the UK Petroleum Science and Technology Institute. Tom is a former Chairman of BRINDEX, the Association of British Independent Oil Companies, a former adviser to the BBC on energy affairs and a Fellow of the Institute of Directors."

[blackhorse23] 17/11/2023 09:58

Money moving to APH

[chutes01] 17/11/2023 09:50

When is AGM ?

[parob] 17/11/2023 09:47

I case of buying smaller chunks if you want in this morning as the liquidity for large amounts isn't there at the mo.

[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."