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Share Name Share Symbol Market Type Share ISIN Share Description
Parkmead Group (the) Plc LSE:PMG London Ordinary Share GB00BGCYZL73 ORD 1.5P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 36.60 10,567 08:00:21
Bid Price Offer Price High Price Low Price Open Price
35.10 37.70
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 4.08 -0.79 -0.45 40
Last Trade Time Trade Type Trade Size Trade Price Currency
08:30:34 O 160 35.932 GBX

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Parkmead (PMG) Discussions and Chat

Parkmead Forums and Chat

Date Time Title Posts
07/3/202109:50PMG, anyone heard of it??10,730
09/3/202007:21Parkmead Group - An 'Accelerated Dana Petroleum'?208
16/8/201806:26Independent tips Parkmead Group at 50p1,808
29/5/201617:06PC MEDICS. A scary bet.49
18/11/201110:46*** PMG - Tom Cross walks on water ! ***15

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Parkmead (PMG) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
08:30:3935.9316057.49O
08:07:3235.232,8671,010.04O
08:02:5235.237,5402,656.34O
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Parkmead (PMG) Top Chat Posts

DateSubject
07/3/2021
08:20
Parkmead Daily Update: Parkmead Group (the) Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker PMG. The last closing price for Parkmead was 36.60p.
Parkmead Group (the) Plc has a 4 week average price of 32.80p and a 12 week average price of 31.80p.
The 1 year high share price is 43.50p while the 1 year low share price is currently 18p.
There are currently 108,574,829 shares in issue and the average daily traded volume is 218,193 shares. The market capitalisation of Parkmead Group (the) Plc is £39,738,387.41.
19/2/2021
11:47
mallorca 9: PMG ...... the piggy bank of Tom and Wife. After 20 years .... revenue £3m pa :-) The next Dana lol
19/2/2021
11:10
mallorca 9: Talking of the land ... Has Tom finished building the new house yet with his builder partner ..... the one whom, along with Tom's wife , form the Concert Party here !! Dear oh dear Has PMG paid off the HQ Offices in Aberdeen yet via their rent payments ...... that's the building that Tom holds in another Company .... but where it's mortgage is being paid off via rent from PMG.. Dear oh dear ..... It's a good job that no one thinks that Tom is corrupt !!
15/2/2021
07:41
chutes01: Shell to develop Campo WoS, adjacent to PMG acreage Sandra. May make offer for the fields, nil value ascribed to this, so huge upside from 155p
30/1/2021
02:10
chutes01: Cleeton gearing up for new gas, however GPA is the only show in town, it will generate huge profits, and PMG will sit back and accept some of them
17/1/2021
00:51
ab76: The sudden jump in the gas price earlier this week only lasted a day, but as Malcy discussed in his blog on Friday - see hxxps://www.malcysblog.com/2021/01/oil-price-natural-gas-petrofac-and-finally/ - there’s been a massive increase in gas prices recently and the potential for further strengthening of the forward price. I agree with chutes01 and robs12 that it’s development of the GPA that will bring shareholders considerable reward (FinnCap has a risked price target of 155p and 100p of that comes from the GPA - see hxxps://www.parkmeadgroup.com/uploaded/research/FinnCap_Research_20.11.20201.pdf). However, whilst we wait for that to happen the increased gas price should boost profits at the current producing assets (they produced about £5 million in profit in 2019 when prices last peaked) and hopefully cause Platypus to be sanctioned later this year (FinnCap suggests that, after Parkmead incurs development costs of £17 million, Platypus will generate £5 million per year in cash from 2024 onwards at an average price significantly lower than it is at the moment - see page 30).
11/1/2021
22:11
ab76: Whilst Parkmead’s share price declines, the price of gas continues to rise and is now at its highest level since December 2018 (just under $8): see hxxps://www.tradingview.com/symbols/NYMEX-TTE1%21/
03/11/2020
01:09
ekuuleus: Each regarding serco. I did not see that one coming. Easyjet too early for me. The markets can be slow to act so in think plenty time next year if I go that way. Sold my metro at 94p. Monitoring. Jaknife raises a good point t regarding the collapsing g bond price. Curious the share price very stable at the moment but I've a feeling the 60p support will collapse very quickly. Mainly in minors.
13/4/2020
15:39
tournesol: Renewables|? PMG has got nothing to do with renewables. It has used the pipe-dream of renewables to justify wasting money on a remote and unproductive farm. It has published no meaningful information to support its assertion that there is any substantive potential whatsoever. It's a combination of a vanity project and a distraction from all of the other projects that have been stuck in a rut going nowhere for years. Gas production? PMG owns a small stake in a small peripheral gas producing JV that is operated and controlled by the bigger stakeholders. Realistically the only potential buyers for small scale stuff like that is the other existing JV partners. CNOOC certainly would not be interested in becoming a bit part player in a bit part asset. Developing large oil reserves? For many years PMG has done nothing to advance the development of its "large oil reserves", it has neither the capital nor the expertise to do so. Undeveloped "large oil reserves" in the hands of owners who make unrealistic claims are 10 a penny. The complete collapse of the oil price combined with the collapse in demand caused by CV19 combined with the economimc and market collapse we are experiencing, all means that oil reserveS and minnow wannabe E&P's are investments for suckers only. Incidentally you said oil reserves but you should have said potential oil resources. PMG doe not have any oil reserves. In order for resources to be converted to reserves you need a) to prove them up and b) to put in place plans and funding for development. There are lots of unproven resources going begging. And most of them will never get exploited. They will stay where they are - in the ground. Massive price spike? People have been saying that for many years. It hasn't happened. Global meltdown does not provide the circumstances needed for it to be brought to fruition. Oil is old news. Produce gpa from a floater? Yeah right. He might have been able to do so when oil was 2-3 times the price and the future looked promising. When it's down at today's price and the future looks bleak, there is no chance whatever. Why don't you look at a company that has been successful in recent FPSO based development - say Hur - and see just how hard it has been for them. PMG is not made of the same stuff . They do not have what it takes to follow that path. They are simply chancers squatting on an asset they big up but never ever develop. As long as they do nothing they can make extravagant claims. As soon as they start detailed development reality will bite and they will have to back up their rhetoric. They can't do that. I used to work in oil and gas. I've been specialising in E&P investments for 20-30 years and have been following Cross, Dana and PMG for much of that time. It really isn't a good investment opportunity. That is obvious from the most cursory review. Wake up and smell the baloney.
26/9/2019
13:03
cyan: At one time Tom CROSS was seen as an asset; the man from Dana who would replicate past successes for Parkmead Group shareholders. The shine has come off his reputation after detailed examinations of TWO recent related party transactions. Related party transactions tend to arouse concerns as to whether the general shareholders best interests are placed second. For me the genesis for the wheel coming off the cart was when TIPPERTY Farm came on the market in MAY 2017. In my opinion the £2.9m provided to Energy Management Associates Ltd (EMAL) on 27th July 2017 was linked to personal ambitions. The reasoning presented to the public was finally RNS'd on 22nd March 2018; "The Parkmead Group plc has been granted an exclusive option to join Energy Management Associates Limited in new ventures being evaluated by the company, including, inter alia, potential opportunities relating to renewable energies." Here are FOUR irrefutable facts; EMAL's sole directors are T & L CROSS That by 22nd March 2018 the whole £2.9 million "credit facility" was drawn down. That by 31st May 2018; at the latest; £2,865,272 was repaid to " T & L CROSS" by EMAL In the two years the £2,9 million facility was to last; NO joint ventures with EMAL emerged. There is no logic in a company seeking such a large credit facility without having a necessity; a plan. The evidence to me is clear; on the balance of probabilities; the £2.9 million was to enable T & L CROSS to be repaid and use cash for their own personal objectives. These circumstances are most unsatisfactory. IMO PMG’s money was, in effect, a disguised soft loan to a director. The £2,585,156 that L CROSS loaned to PITREADIE Farm Ltd and the subsequent purchase of TIPPERTY Farm on 9th March 2018 raises a reasonable question; was the capital sourced from the £2.865,272 "repaid" by EMAL? Then we have to consider the acquisition by Parkmead Group of the then enlarged Pitreadie Farm ltd; YET ANOTHER related party transaction. Remember; L CROSS interest in this company was 75% On 30th August 2019 PMG RNS'd their acquisition of Pitreadie Farm Ltd. We have already examined in depth the presented investment case and I think its fair to say that the market was not convinced the deal was in shareholders best interest. For me the reasoning was flimsy based on " potential”; the hope planning permissions would be received. . PMG effectively raised "the best interest of shareholders" question with this line in the 30.8.2019 RNS; "There is an active market for land assets in Scotland, particularly those with renewable energy potential." So; in the "active market" PMG just happened to choose a land asset with "potential" L CROSS had a 75% interest in. Shareholders were expected to accept on trust that a proper due diligence was conducted; that other land assets were considered; that it was in the best interest of shareholders; that Pitreadie Farm Ltd was chosen on its merits alone, completely uninfluenced by CROSS family interest. I am afraid I just do not believe that. It fails my sniff test. And then we have to consider the extension of EMAL's loan for a further two years announced on 26th July 2019; This, in effect, a third related party transaction. The grounds for extension were that day RNS'd " By providing this facility, Parkmead benefits from an exclusive arrangement to join EMAL in new ventures being evaluated by the Company, including inter alia potential opportunities relating to renewable energies. The Loan will continue to bear a fixed interest rate of 2.5 per cent per annum, payable to Parkmead." This was the reasoning originally put forward in July 2017 Trouble is that there had not been any joint ventures with EMAL in the previous two years. PMG's capital has now been tied up in this soft loan for another 2 years. The loan should never have been extended. Were the interests of Mr & Mrs CROSS considered above of the BEST interests of PMG shareholders? The PMG decision makers should have challenged EMAL (sole directors T & L CROSS) The decision makers would have known that PMG’s cash was not used by EMAL for any purpose that advanced PMG shareholders best interest and that no new ventures were presented to PMG in the two years agreed. PMG entered into an exclusive arrangement with EMAL to join in new ventures; however cash was taken out of EMAL and PITREADIE Farm Ltd was enlarged after a personal injection of cash by L CROSS. The PMG decision makers should have asked the obvious question; was PMG’s cash used in this way and why? How could they logically agree to buying Pitreadie Farm Ltd AND extend the EMAL loan? If I were a decision maker I would have taken a very dim view of the conduct of T & L CROSS. Imo, solely based on the renewable “potentialR21; investment case; The decision makers should have refused to buy Pitreadie Farm Ltd; factor in the apparent self serving conduct of EMALs directors and you are left wondering WTF were decision makers thinking; how on Earth were these related party transactions in PMG’ shareholders best interest? The only people who have landed on their feet here are the CROSS’s and their concert party; They have lots of extra PMG shares; a larger percentage of the share capital and EMAL has a very soft loan to pay off. The BIG losers are other PMG shareholders who have seen their holdings diluted; the company loaded with £3.6m debt; £2.9 million capital tied up in a soft loan; an investment in FARMS with uncertain development potential and a collapse of confidence in PMG’s corporate governance. This has all caused the share price to collapse. Although its no comfort to other shareholders; the shenanigans did, in effect, shoot the CONCERT party in their metaphorical feet with the subsequent collapse in the share price What now?
23/9/2019
18:02
cyan: The PITREADIE Farm Ltd affair Here's my THEORY as to what has happened. TIPPERTY Farm goes on the market in MAY 2017. Someone takes a shine to that property. Someone in ENERGY MANAGEMENT ASSOCIATES Ltd ( EMAL) makes a CREDIBLE case to PMG for lending to THAT COMPANY for possible future joint ventures with EMAL, involving renewable’s. EMALS sole directors are T & L CROSS Big question. Were PMG's decision makers kept ENTIRELY in the dark; that this cash was to be REMOVED from EMAL and used to help buy TIPPERTY Farm? PMG DID agree to the EMAL £2.9m facility, now loan, on 27th JULY 2017 and TIPPERTY Farm was acquired on 9th March 2018 by PITREADIE Farm Ltd The related party transaction was IMPROPERLY kept hidden from the markets for months. Why? It was eventually justified in a RNS dated 22nd March 2018 "The Parkmead Group plc has been granted an exclusive option to join Energy Management Associates Limited in new ventures being evaluated by the company, including, inter alia, potential opportunities relating to renewable energies." By EMAL obtaining PMG's £2.9 m cash at a modest 2.5%, EMAL directors; T & L CROSS could subsequently extract THEIR tied up money in EMAL totalling £2,865,272. It follows that it would subsequently allow L CROSS, in her name, to "LOAN" Pitreadie Farm LTD £2,585,156 and THEN go on to buy TIPPERTY Farm. What a STRANGE way to get the cash needed to buy Tipperty farm. The more efficient, straightforward way to do this transaction would have been like this; An approach is made from PITREADIE Farm Ltd to PMG with the openly declared objective; receiving cash to help buy TIPPERTY farm. The "potential" for renewable would be the selling point and an option to join in a later renewable development is offered. PMG COULD have then loaned to PITREADIE Farm Ltd; in order they can complete the buy. The question we will never know the answer to is; When did someone come up with a plan for PMG to buy the enlarged Pitreadie Farm Ltd (including Tipperty Farm ).? But; we can look at what the transaction evidence suggests. By using "repaid" EMAL cash instead of a direct loan from PMG into Pitreadie Farm; the potential was obvious; a bigger allocation of PMG shares, in any future sale of the enlarged company. Was there an EARLY, already formed intent to sell the enlarged Pitreadie Farm Ltd to PMG and an expectation so they could receive a lot more PMG shares? A VERY important point that supports an early 'sell' plan are the Bank Of Scotland £3.6 million loans with just FIVE years to maturity ( now 4 years). They HAD to have an INTENT to sell on; how else would those loans be covered? They HAD to find a buyer. Was it just a coincidence that buyer would turn out to be PMG? For me; there are just one too many coincidences; one too many related party transactions. Its convoluted, but makes sense out of the strange loan to EMAL and the cash movements. Remember; PMG have NOT received ANY advantage (apart form 2.5% interest) from their loan to EMAL; NO joint ventures. There is no justification in extending the loan another 2 years. The big winners are the CONCERT PARTY; the CROSS’S and affiliates It did not have to be that way. If £2.6 million was Loaned directly to Pitreadie Farm ltd the concert party would only receive, in the takeover; PMG shares for their £2.3 million in loans and equity. By going round the houses, and cleverly using PMG cash initially loaned to EMAL and then loaned to Pitreadie farm; resulted in PMG having to create ANOTHER £2.6 million worth of shares and allocate to the CONCERT Party in the takeover. Was this really all accidental ? It appears PMG's cash was used to the disadvantage of PMG's shareholders but WAS used to the advantage of the concert party.
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