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Share Name Share Symbol Market Type Share ISIN Share Description
Parkmead LSE:PMG London Ordinary Share GB00BGCYZL73 ORD 1.5P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 54.00p 2,500 09:37:47
Bid Price Offer Price High Price Low Price Open Price
54.20p 57.60p - - -
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 7.02 -5.89 -7.22 53.4

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Date Time Title Posts
07/12/201818:35PMG, anyone heard of it??7,718
16/8/201806:26Independent tips Parkmead Group at 50p1,808
29/5/201617:06PC MEDICS. A scary bet.49
11/2/201520:41Parkmead Group - An 'Accelerated Dana Petroleum'?197
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
08:07:5354.502,5001,362.50O
2018-12-11 16:35:2154.008,0004,320.00UT
2018-12-11 16:26:4455.4017798.06AT
2018-12-11 16:26:3555.7530,00016,725.00O
2018-12-11 16:12:1355.005,0002,750.00AT
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Parkmead (PMG) Top Chat Posts

DateSubject
12/12/2018
08:20
Parkmead Daily Update: Parkmead is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker PMG. The last closing price for Parkmead was 54p.
Parkmead has a 4 week average price of 50.20p and a 12 week average price of 48p.
The 1 year high share price is 82p while the 1 year low share price is currently 33.50p.
There are currently 98,929,160 shares in issue and the average daily traded volume is 181,049 shares. The market capitalisation of Parkmead is £53,421,746.40.
05/12/2018
11:58
tournesol: Manrobert Hi not sure what you meant by saying you were "happy to donate your prize"? If you win, I'd be more than happy to send you the prize. If you'd rather I donated it to a good cause instead, I'd be happy to do that too. Let's not get ahead of ourselves, though. Let's wait for year-end and see what happens to the share price. Someone else might be getting a half case! T
26/11/2018
21:10
mallorca 9: Simon Thompson Comments There were several positives to note in the annual results from Parkmead (PMG:52.8p), a small-cap oil and gas exploration and development company led by 19 per cent shareholder Tom Cross, the founder and former chief executive of Dana Petroleum until its sale to the Korea National Oil Corporation in 2010. Firstly, the company generated £2.2m of positive operating cash flow from its low-cost onshore gas portfolio in the Netherlands, and the Diever West gas field in particular, which came on stream three years ago and has been exceeding expectations ever since. These have an average operating cost of only US$15.6 (£12.1) per barrel of oil equivalent. Closing net cash of £23.8m was £800,000 ahead of analyst predictions and with the benefit of the fall in sterling since the end of the financial year, the pro-forma cash pile is now worth around £24.2m. Parkmead also owns a shareholding currently worth £6m in oil and gas producer Faroe Petroleum (FPM:155p), a company that received a cash offer from Norwegian oil and gas operator DNO ASA, and one that clearly highlights the potential for corporate activity in the sector. Parkmead has a £2.9m interest bearing loan receivable on its balance sheet, too. In effect, these three assets back up £33m of Parkmead’s £52m market capitalisation, meaning that the company’s exploration activities across 30 licences in the North Sea, any one of which has potential to create substantial investment upside for shareholders, are in the price for just £19m. The most valuable are three licences in the Moray Firth that contain the Perth and Dolphin fields. Bearing this in mind, I can reveal that a detailed engineering study carried out by Nexen Petroleum, a subsidiary of the China National Offshore Oil Corporation (CNOOC), has confirmed the technical feasibility of a potential subsea tie-back of Parkmead’s Greater Perth Area (GPA) project to the Nexen-operated Scott platform and associated facilities in the UK Central North Sea. Parkmead has now entered into commercial discussions with the Scott field partners to explore terms for a tie-back of GPA to Scott. A tie-back has the potential to transform the GPA project both commercially and economically, by dramatically reducing the capital expenditure required to bring the GPA project onstream and by lowering the operating costs thereafter. To put the potential valuation upside into perspective, analyst Colin Smith at house broker Panmure Gordon places a risked valuation of £50m, or 50.5p a share, on Parkmead’s undeveloped oil resources, or £372m on an unrisked basis. It goes without saying that if the commercialisation of the GPA project via Scott makes substantial progress then there is likely to be significant upside to Parkmead’s share price. For good measure, with the benefit of its low-cost onshore gas portfolio, Mr Smith at Panmure expects Parkmead to turn in a pre-tax profit of £1.2m in the current financial year to the end of June 2019, thus de-risking the investment case even further and providing additional operational cash flow to direct towards exploration activities. So, having included Parkmead’s shares, at 37p, in my 2018 Bargain Shares Portfolio, and last rated them a buy at 50.5p ahead of news on the commercialisation of the GPA project (‘Bargain Shares repeating buying opportunities’, 29 Oct 2018), priced on a 36 per cent discount to Panmure Gordon’s total risked net asset value (NAV) estimate of 85p a share I continue to see significant share price upside. Buy.
26/11/2018
17:14
mallorca 9: FAROE PETROLEUM PLC ("FAROE") By DNO ASA ("DNO") Summary -- The Board of Directors of DNO ASA is pleased to announce the terms of an offer to be made by DNO for the whole of the issued and to be issued share capital of Faroe Petroleum plc (other than the 105,247,866 Faroe Shares already held by DNO, representing 28.22 percent of Faroe's issued share capital). -- The Offer will be 152 pence in cash for each Faroe Share, valuing Faroe's existing issued and to be issued share capital at approximately GBP607.9 million. -- Of the Offer value of approximately GBP443.8 million on a fully diluted basis, GBP402.6 million is attributable to the current issued share capital of Faroe (other than those Faroe Shares already held by DNO and the Faroe Employment Benefit Trust) and the balance GBP41.2 million is attributable to DNO's understanding of the number of outstanding share options and awards granted by Faroe to its directors, management and employees, representing approximately 7 percent dilution of Faroe's current issued share capital. -- The Offer Price represents a premium of 44.8 percent to Faroe's share price of 105 pence at the close of business on 3 April 2018, the last business day before DNO announced its first acquisition of shares in Faroe, and a premium of 20.8 percent to Faroe's share price of 125.8 pence at the close of business on 23 November 2018, the last business day before this announcement. -- Commenting on the Offer, Bijan Mossavar-Rahmani, Executive Chairman of DNO, said: "We are pleased now to engage directly with the Faroe shareholders with a proposed all-cash voluntary offer of 152 pence per share which represents a premium of 44.8 percent to the closing price of 105 pence on the day before DNO announced its first acquisition of Faroe shares last April, and a premium of 20.8 percent to the closing price of 125.8 pence last Friday. In the period between our first acquisition, triggering significant bid speculation, and this offer, the price of Brent crude has dropped 13 percent and oil and equity markets have entered a period of great uncertainty. For those shareholders who wish to exit, DNO is therefore offering a considerable premium. For those who wish to remain, there is no assurance of Faroe achieving its full value potential in a volatile commodity and financial markets environment as a relatively small scale, financially constrained UK-AIM listed company whose share price performance has remained stubbornly disappointing, with the very notable exception of short-term spikes following the sale of a particular large block of shares by one investor to another (most recently to DNO) and the attendant speculation about an impending takeover premium with each such transaction. We firmly believe that Faroe's assets, the substantial part of which are Norwegian, are better placed in the bosom of DNO, Norway's oldest independent oil and gas company, currently operating gross production of 125,000 barrels per day which compares with the 7,500 barrels of oil equivalent a day of gross production operated by Faroe. DNO's proven and probable reserves were nearly four times those of Faroe's as reported at 31 December 2017. Whether the offer achieves DNO's minimum acquisition target or the acquisition of all of Faroe's shares, we attach great importance to retaining the skills, knowledge and expertise of Faroe's operational management and employees. We intend to retain Faroe's Aberdeen head office and each of the other offices." This summary should be read in conjunction with, and is subject to, the full text of the attached announcement (including its Appendices). The Offer will be subject to the Conditions and certain further terms set out in Appendix 1 and to the full terms and conditions to be set out in the Offer Document. Appendix 2 contains the sources and bases of certain information contained in this summary and the following announcement. Appendix 3 contains the definitions of certain terms used in this summary and the following announcement. DNO ASA FAROE PETROLEUM PLC BY DNO ASA 1. Introduction The Board of Directors of DNO ASA is pleased to announce the terms of an offer to be made by DNO for the whole of the issued and to be issued share capital of Faroe Petroleum plc (other than the 105,247,866 Faroe Shares already held by DNO, representing 28.22 percent of Faroe's current issued share capital). 2. The Offer The Offer, which will be subject to the Conditions and further terms set out in Appendix 1 to this announcement and to be set out in the Offer Document, will be made on the following basis: for each Faroe share 152 pence in cash The Offer values Faroe's existing issued and to be issued share capital at approximately GBP607.9 million. Of the Offer value of approximately GBP443.8 million on a fully diluted basis, GBP402.6 million is attributable to the current issued share capital of Faroe (other than those Faroe Shares already held by DNO and the Faroe Employment Benefit Trust) and the balance GBP41.2 million is attributable to DNO's understanding of the number of outstanding share options and awards granted by Faroe to its directors, management and employees, representing approximately 7 percent dilution of Faroe's current issued share capital. The Offer Price represents a premium of 44.8 percent to Faroe's share price of 105 pence at the close of business on 3 April 2018, the last business day before DNO announced its first acquisition of shares in Faroe, and a premium of 20.8 percent to Faroe's share price of 125.8 pence at the close of business on 23 November 2018, the last business day before this announcement. If, after the date of this announcement, any dividend and/or other distribution and/or other return of capital is declared, made or paid or becomes payable in respect of the Faroe Shares, DNO reserves the right to reduce the consideration payable under the terms of the Offer at such date by an amount equal to such dividend and/or distribution and/or return of capital. 3. Background to and reasons for the Offer DNO is Norway's oldest oil and gas exploration and production company with a strong Norwegian heritage and shareholder base. For the past ten years, DNO has successfully focussed on growing its international presence, anchored by the DNO-operated flagship Tawke and Peshkabir oilfields in the Kurdistan region of Iraq. DNO now ranks among the leading European listed independent oil and gas companies in reserves and production, with year end 2017 proven and probable (2P) reserves of 384.1 million barrels of oil equivalent (MMboe) on a company working interest (CWI) basis, plus 98.9 MMboe of CWI contingent (2C) resources. DNO's total operated production currently stands at around 125,000 barrels per day (gross). DNO is in the early phases of re-establishing its North Sea presence. After the acquisition of Origo Exploration Holding AS in 2017, DNO has rapidly built up its portfolio through new licence rounds and farm-ins (currently holding participating interests in 21 licences offshore Norway) and has commenced an ambitious exploration drilling campaign on its portfolio, targeting five wells per year. DNO's organic growth ambitions in Norway are complemented by its shareholding in Faroe. DNO acquired 28.7 percent of the shares in Faroe in April 2018. At the time, DNO expressed support for Faroe's management's North Sea strategy, as it has supported other upstream companies in which it has held or continues to hold strategic investments, including RAK Petroleum plc, Rocksource ASA, Det norske oljeselskap ASA and Panoro ASA, among others. These investments, when sizeable, have included board representation, as is common, even often expected, in the industry. DNO, by far the largest shareholder in Faroe, was deeply disappointed when its reasonable request last summer for board representation and constructive engagement with Faroe was summarily rebuffed. Moreover, there was a dilution of DNO's shareholding to 28.2 percent through the vesting of share awards in favour of Faroe directors and others. Based on DNO's assessment of publicly disclosed information, share awards and options representing an additional 7 percent or so dilution appear yet to be vested or exercised, which will further significantly dilute existing shareholders' interests in favour of Faroe directors and others. DNO has both publicly and privately raised its concerns about the corporate governance culture and shareholder value strategies at Faroe, but to no apparent avail in terms of substantive and timely actions. Against this backdrop, DNO has now decided proactively to address these concerns and protect its sizeable investment in Faroe by offering to acquire all the outstanding shares in Faroe that DNO does not already own.
26/11/2018
16:49
mallorca 9: Have you all seen the offer that has been made for Faroe today ? PMG hols a significant amount of Faroe shares. 26 November 2018 Faroe Petroleum plc (the "Company" or "Faroe") Response to Unsolicited Offer by DNO ASA ("DNO") Further to its earlier announcement, the Board of Faroe (the "Board", "we") have now met together with its advisers and considered the announcement released earlier today by DNO of an unsolicited offer for the entire issued and to be issued share capital of Faroe not already owned by DNO at 152p per share (the "Offer"). The Board strongly believes that the Offer is opportunistic and substantially undervalues Faroe and encourages all shareholders to take no action. DNO's opportunistic Offer substantially undervalues your Company The Offer price of 152p per share represents a premium of just 1% to Faroe's 3-month VWAP and only 21% to Faroe's closing share price on 23 November 2018. This is: -- substantially below the average premium on all UK takeovers over the last 10 years of 43%(1); -- substantially below the average premium on all UK takeovers in the E&P space over the last 10 years of 40%(2); and -- equivalent to US$6.8(3) per barrel of 2P reserves and US$3.2(3) per barrel of 2P reserves + 2C resources, which is substantially below the average price paid recently for comparable North Sea (in particular, Norwegian Continental Shelf) portfolios of US$12.1 per barrel of 2P reserves and US$9.5 per barrel of Total Resources respectively. DNO's Offer does not value Faroe's exciting prospects as an independent business The Offer also fails to recognise the exciting prospects that Faroe has as an independent business. Faroe has a proven track record of successful exploration, sustainably delivering reserves and resource growth year-on-year, and effective portfolio management. Since the date of DNO's first acquisition of the Company's shares on 4 April 2018, Faroe has made significant progress in its stated exploration and appraisal programme and general corporate development: -- following significant exploration successes at Iris/Hades and Agar this year, our exploration programme continues with a near term five-well exploration and appraisal campaign already underway with the potential to deliver significant resources in the next 12 months, and many more wells expected thereafter; -- we continue our transformational production growth programme with a fully-funded near to medium term production growth target of 35,000boepd, and potential for considerable additional organic production growth thereafter; and -- our plans are underpinned by our strong balance sheet together with the recent successful increase and extension of our Reserve Based Lending bank credit facility, which remains undrawn. We strongly believe that DNO's Offer fails to reflect these attributes and hence the fair value that you deserve for your investment in Faroe. Our growth plans are aimed at serving the interests of Faroe's shareholders as a whole, in keeping with our strong corporate governance culture which also, as expressed in our announcement dated 16 August 2018, led us to conclude that Board representation by DNO would not serve the interests of Faroe's shareholders. The Board believed then, and continues to believe, that control of the Company should not be ceded without an appropriate premium being paid. DNO's Offer does not provide you with an appropriate premium for solving DNO's strategic challenges Faroe would provide DNO with a high quality, full cycle and diversified North Sea asset base that stands in stark contrast to DNO's existing business. As such, Faroe would solve DNO's strategic challenges and shareholders should receive an appropriate premium which is not currently reflected in DNO's Offer. John Bentley, Non-Executive Chairman of Faroe, commented: "DNO's offer substantially undervalues Faroe on every applicable metric. The Board is determined to defend our shareholders' rights to receive an appropriate premium for a fully funded business which is actively progressing the delivery of its highly attractive growth prospects and is the only platform available which solves DNO's strategic challenges. We believe that Faroe is worth substantially more than 152p per share and we urge shareholders to reject DNO's opportunistic, unsolicited and inadequate offer." The Board of Faroe will write to shareholders with its detailed views on the offer in due course. In the meantime, Faroe shareholders are strongly urged to take no action in relation to their Faroe shares. Rule 2.9 information In accordance with Rule 2.9 of the City Code on Takeovers and Mergers, the Company confirms that, as at the date of this announcement, it has 372,889,693 ordinary shares of 10 pence each in issue and admitted to trading on the AIM market of the London Stock Exchange. The International Securities Identification Number for Faroe's ordinary shares is GB0033032904. - Ends -
29/7/2018
14:37
tournesol: And please do not forget that in the early days, when PMG needed cash to finance an acquisition of acreage containing a gas discovery, and when the banks were not eager to lend, Tom Cross lent them £8 million of his own money. His commitment to and engagement with PMG far exceeds normal boundaries. I agree that his remuneration looks high compared with historic profitability but without him there would be no PMG and shareholders would not be in line for significant future rewards. You need to look at the whole life cycle of the business. In 10 years time when the share price is umpteen pounds and we have all made squillions, then his wages will not look to have been at all excessive.
17/5/2018
14:02
mallorca 9: Tournesol,it's neigh impossible to value explo stocks.Much of the share price is based on sentiment.Take HUR ...no revenue at all and may even have to return to the market for more money and be delayed in its timing to first oil.CURRENT MC circa £750 M. Back to PMG with its CURRENT MC of only £60m.Once it's lays out its development timetable it will come into the HUR speculative category but with existing and growing revenue.A £1b MC is extremely modest for a producing oil Co, and with PMG my friend that modest MC represents a share price of £10.You stick to your models, I'll keep making money on the markets.
17/4/2018
21:00
mirabeau: From LSE: Simon Thompson from 2 weeks ago: 1) - Investors are starting to warm to the investment case for Parkmead Group (PMG:41p), a small-cap oil and gas exploration and development company led by 19 per cent shareholder Tom Cross, the founder and former chief executive of Dana Petroleum. The share price has risen by 10 per cent since I included the shares in my 2018 Bargain Shares Portfolio, and recent developments only reinforce my positive stance. For starters, the company£s market capitalisation of £40.5m is still 38 per cent below IFRS net asset value (NAV) of £65.2m, even though Parkmead holds £24.4m in cash and has oil and gas interests spanning 26 exploration and production blocks in the North Sea. It also owns a £4.7m stake in Faroe Petroleum (FPM:121.5p), another oil explorer I am keen on. Indeed, Faroe£s share price gushed up 15 per cent after I published my article a fortnight ago (£Profit from corporate activity£, 26 Mar 2018) on news of stakebuilding by DNO ASA, the Norwegian oil and gas operator, and significant discoveries in both the Hades and Iris prospects in licence PL 644 B, located in the Norwegian Sea and in which Faroe has a 20 per cent equity interest. There could be more exploration upside as drilling on the Rungne (Faroe-operated), Cassidy and Pabow wells are all planned for later this year, offering catalysts to narrow Faroe£s share price gap to analysts£ risked NAV forecasts of 141p. Interestingly, DNO holds interests in 19 exploration licences offshore Norway and the UK, and is pursuing strategic investments and partnerships with established North Sea players. Last week, DNO snapped up a 27.3 per cent stake in Faroe at 125p a share, attracted by a combination of Faroe£s daily production, which averaged 14,300 barrels of oil equivalent (boe) last year, and the value of its stated 2P reserves of 97.7m boe and 2C resources of 78.6m boe. DNO£s interest in Faroe is clearly good news for the value of Parkmead£s shareholding in more ways than one. That£s because Parkmead has established a key position in the UK Central North Sea following a series of licensing round successes and strategic acquisitions. The company has interests in eight licences there, of which Faroe is invested in seven of them, including some in the Perth and Dolphin fields in the Moray Firth area, which contains very large oil fields including Piper, Claymore and Tartan. Perth and Dolphin are two substantial Upper Jurassic Claymore sandstone accumulations that have tested 32£-38£ API oil at production rates of up to 6,000 barrels of oil per day (bopd) per well. Perth and Dolphin fields Bearing this in mind, Parkmead has increased its interests in licences P218, P588 and P2154 in the Moray Firth, which contain the Perth and Dolphin fields, from 60.5 per cent to 100 per cent to boost its 2P reserves by 17.9m barrels of oil. The company also signed an agreement with Nexen Petroleum, a subsidiary of the China National Offshore Oil Corporation, to begin a detailed engineering study for the potential commercialisation of Perth and Dolphin by way of a sub-sea development tie-back via Nexen£s Scott platform that£s located 10km away. Interestingly, initial work indicates that the required modifications to Scott could be relatively limited, thus offering potential to significantly reduce capital expenditure to bring the project on stream as well as lowering operating costs. True, Parkmead£s Greater Perth Area (GPA) fields have high levels of sulphur, but so does the Buzzard field in the Outer Moray Firth where Nexen is operator and has a 42 per cent interest, so the company has experience of dealing with this issue. Moreover, Parkmead has also commissioned a new reservoir study that could potentially lead to a substantial increase in the recovery factor of oil volumes at the Perth field, which currently stand at 197m barrels of oil for core Perth and 498m barrels including the northern areas of the field. It goes without saying that the Perth and Dolphin fields are a valuable asset, representing around 60 per cent of Panmure Gordon£s valuation of all the fields in Parkmead£s portfolio. My take on the aforementioned developments is that they clearly improve the chance of the GPA fields being commercialised, a factor that£s not being reflected in Parkmead£s share price, which is half of Panmure Gordon£s risked NAV estimate of 85p a share. I would also highlight some positive news from the Diever West gas field in the Netherlands in which Parkmead holds a 7.5 per cent interest. The field came on stream in November 2015 and averaged 5,340 barrels of oil equivalent per day (boepd) in the first six months, and has been exceeding expectations since then. In fact, in February this year the field averaged 7,833 boepd and new dynamic monitoring suggests it has around 18.6m barrels of oil equivalent of gross gas-in-place, or 108bn cubic feet. That£s more than double the original estimate. In addition, Parkmead's low-cost onshore gas portfolio includes three other fields in the Netherlands that have an average operating cost of just $10 (£7.1) per barrel of oil equivalent. The profitable gas production from Diever West, and Parkmead's wider portfolio of gas fields in the Netherlands, provide important cash flow to reduce cash burn while the company makes progress with its licences in the North Sea, any one of which has potential to create substantial investment upside for shareholders. Buy. end
28/2/2018
11:07
mrnumpty: Commiserations to franco if s/he is sitting on a paper loss : if one bought in the autumn of 2010 , when the share price rocketed from 23.25p to £ 4.83.75 , there was huge money to be made . On the other hand , if one didn't sell in time , then the last few years have been pretty miserable . Surely we have all experienced such agony if we have been investing for any time , and at least franco isn't offensive ( not to us , at least ! ) . Anyway , although I know virtually nothing about charting , it looks to me as if the share price has just started to rise , so I have just made my third purchase of the last few weeks . I remember , when oil had slumped a couple of years ago , looking at the share price of Faroe Petroleum ( with whom , of course , Parkmead have links ) , which fell as low as about 50p and sitting on my hands , and regretting it . I suspect we may well see a similar share price rise here . There are dangers , of course , such as the fact that Tom Cross is so essential to the success of Parkmead ( sorry , franco ! ) , and the fact that oil is a multi-dimensional game with so many unpredictable geo-political factors involved . Anyway , I've put my money where my mouth is . All the best and do your own research .
08/2/2018
20:11
mrnumpty: Share price : As someone who did well from Tom Cross' days at Dana , I have continued to follow him . If I recall correctly , Parkmead was no more than a shell company before Tom Cross arrived in order to turn it into an oil and gas company . A quick glance at the admittedly unsophisticated 10-year share price graph on the Hargreaves Lansdown site shows that the price was 23.25p on 8/10/2010 ( approximately when Parkmead was a shell ) and that , after the announcement that Tom Cross et al had arrived , the price rocketed to £ 4.83.75 less than three months later , on 29/12/2010 . Obviously the price then entered its long , miserable decline to around 30-35p , before slightly improving to around 40p now . Thus , in the course of more than seven years , the price has only gone up from 23.25p to around 40p , and yet in the course of this time Tom Cross has transformed Parkmead from a shell into a solid oil and gas company from which real growth can be achieved . Obviously conditions are now different , with oil still only at about $ 60 , and fracking companies are much more of a concern . Nonetheless , I personally consider this a good time to buy , firstly because the share price graph shows that , whereas mad euphoria caused a meteoric ascent of the price in autumn 2010 ( even though this was based on not much more than Tom Cross' reputation ) , now , with Parkmead being a solid company , the share price is virtually on the floor . Secondly , though I am by no means a chartist , it is obvious that the share price is gradually waking from its slumbers and moving to the top-right . I made a small first purchase a couple of days ago and expect to acquire some more imminently . All the best , and do your own research .
01/9/2017
06:32
ghhghh: CLNR has stated they must raise cash by YE and likely to be equity raise. Hence they look in a very weak position. Agreed might make them a distressed takeover target but I wouldn't buy the equity now. Would rather try to get in on the equity raise which is more likely. My broker says he's been told that current fall in PMG share price linked to concern over the Athena abandonment liability? Evidently been some mention of this on Twitter? This was my principle concern and PMG have been pretty cagey about exactly what has happened? They have written off most of Athena's valuation but still maintain significant value? I assume they still view Athena as having value if incorporated into Perth hub, assuming higher oil price of course. Maybe partners just want to write off now but this means crystallising abandonment liability?
Parkmead share price data is direct from the London Stock Exchange
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