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TSX Lithium explorer International Lithium Corp prepares to drill at Raleigh Lake
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Parkmead Share Chat (PMG)



Share Price: 57.50Bid: 57.20Ask: 59.60Change: 0.00 (0.00%)No Movement on Parkmead
Spread: 2.40Spread as %: 4.20%Open: 57.50High: 0.00Low: 0.00Yesterday’s Close: 57.50


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easyp
Posts: 1,635
Opinion:No Opinion
Price:59.80
Events
Thu 15:55
Seems a couple of oil tankers on fire off the gulf of Oman has lifted oil prices!
 
easyp
Posts: 1,635
Opinion:No Opinion
Price:58.40
RE: Does anyone care
Thu 09:51
Not quite as pessimistic but glad I did sell a chunk a few weeks back and take some profit, holding on for better news.
Sonofthebull
Posts: 1,912
Opinion:No Opinion
Price:58.40
RE: Does anyone care
12 Jun '19
DRS: your choice.....
DRS1
Posts: 111
Opinion:No Opinion
Price:58.20
Does anyone care
12 Jun '19
This is becoming a dog of a share. Tom Cross does not care about investors - he picks up his enormous monthly wage and it fully compensates him for any falling share price. I have been in here since 2015 and seen nothing to recommend him or the share. Woodford comes to mind - take the cash and ignore the investors. Yes, I have been slowly pulling out before anyone suggests it.
MaryMullins
Posts: 532
Premium Chat Member
Opinion:No Opinion
Price:59.90
RE: Anyone for Pharos?
12 Jun '19
If Platypus goes north east to Cleeton (not my research) it would seem very probable that Pharos would be tied in as well. OGA pushing the MER concept even harder now
GLA
Sonofthebull
Posts: 1,912
Opinion:No Opinion
Price:59.90
RE: Anyone for Pharos?
12 Jun '19
I will take anything positive...Greater Buchan Area hopefully announced next month. It does say quarter 3/4 for news release however.
MaryMullins
Posts: 532
Premium Chat Member
Opinion:No Opinion
Price:60.20
Anyone for Pharos?
11 Jun '19
With Platypus progressing anyone think that Pharos might be involved in the 32nd. round . It would fit well with all the other licences religuished and then taken back on. Davaar, Skerryvore to name just two.
GLA.
Lazygun
Posts: 410
Opinion:No Opinion
Price:60.20
Pmg dividends?
11 Jun '19
Anyone have a view as to when Pmg are likely to start paying divvies?

L.
Sonofthebull
Posts: 1,912
Opinion:No Opinion
Price:61.60
Part 2
9 Jun '19
i3 Energy Plc (LON:i3E) is typical. It is working to bring its Liberator oil field to production, in doing so creating a hub of multiple ‘satellite’ fields.

Success here will put the company on the map, as phase one is predicted to yield 20,000 bopd with ‘first oil’ targeted by mid-2020.

Explorer Jersey Oil & Gas Plc (LON:JOG), partnered with Equinor, is following up its initial success with the Verbier discovery well.

Though an appraisal programme earlier this year disappointed Verbier is still estimated to host some 25mln barrels, plus some as yet untested potential in possible extension areas.

Another ambitious North Sea oiler is Parkmead Group Plc (LON:PMG), which has built a portfolio via the acquisition of minority and non-operated stakes in new and existing projects.

Measured at the end of December, the company’s investments gave it around 650 bopd of net production.

The main thrust for growth is the Greater Perth Area (GPA) development in the UK Moray Firth, and, the Platypus gas development in the UK’s southern North Sea area.

At GPA the emphasis is on securing access to infrastructure, to transport produced crude, meanwhile, Platypus is slated for ‘first gas’ in 2021.

Interestingly, the aforementioned Verbier project could provide synergies for Parkmead’s nearby Polecat and Marten assets (as all of them will require infrastructure options).
Sonofthebull
Posts: 1,912
Opinion:No Opinion
Price:61.60
Proactive investor
9 Jun '19
This month, the UK Oil & Gas Authority handed out 37 new licence areas to a total of 30 operators.

It was evidence of that the UK offshore “continues to be revitalised”, according to Dr Nick Richardson, who heads the OGA’s exploration and new ventures unit.

He was especially encouraged by new prospects and play concepts in areas which have never before been licensed.

There’s no shortage deals either as ‘big oil’ sells out - typically to private equity and mid-tier independents.

Deals, deals, deals

Ithaca Energy’s recent US$2bn deal with Chevron, to acquire stakes in ten producing fields, was the latest transaction to put the spotlight on the North Sea.

In April, Chrysaor struck a deal to buy ConocoPhillips out of its North Sea business for US$2.68bn.

EnQuest Plc (LON:ENQ), meanwhile, has been building its business with new field start-ups and via the negotiating table – most recently consolidating its ownership of the Magnus field through a deal with BP.

New North Sea?

Stepping back, Ithaca, which was bought by Israeli group in 2017 for US$1.24bn is instructive of the how these ‘new’ North Sea businesses are being put together.

For a small cap firm the blueprint is grab a discovery, build a field for production (ideally with 15,000 to 20,000 bopd or more) and then get taken out for a premium price.

Larger independent E&Ps, meanwhile, pick up assets from both newly established small caps and large scale later life operations from major oil firms.

Mature basin

The basin is ‘mature’ and the big fields of the past are being managed towards end-of-life and in due course decommissioning.

Significantly, this comes against a backdrop of a broader trend of asset divestment among the so-called ‘supermajors’.

For the mid-tier acquirers it is also seen as a good outcome, especially for those carrying forward tax losses from their expensive field development projects.

It is the icing on the cake for them as these accrued benefits effectively enhance the economics of acquired aging assets.

Faroe Petroleum is geared more to Norwegian waters, but like Ithaca was acquired after it turned a promising asset base into a producing, cash generating business.

Diminishing stock market supply

One reason for the deal uptick is that there is diminishing supply.

Extraordinary assets will always find capital in almost all market conditions.

But, such opportunities are now the exception not the rule in the North Sea - the ‘best’ new oil ventures are now more likely seen further afield, in offshore frontiers in Africa and South America.

Who’s left

There are now fewer North Sea firms on the stock exchange than in the past and project that remain involve development and production scenarios, rather than big bang exploration.

i3 Energy Plc (LON:i3E) is typical. It is working to bring its Liberator oil
buzzlightyear4
Posts: 6,966
Opinion:No Opinion
Price:63.00
Nice bounce.....
7 Jun '19
Big buys coming in when oil is coming down?

Maybe some good news next week, good luck all!
MaryMullins
Posts: 532
Premium Chat Member
Opinion:No Opinion
Price:61.40
RE: 31st. Round
4 Jun '19
Thank you Sonofthebull appreciated. I have downloaded them now. Curious as to why they were pulled from the O.G.A. site.
GLA
Sonofthebull
Posts: 1,912
Opinion:No Opinion
Price:61.40
RE: 31st. Round
4 Jun '19
All the maps and awards are in Energy Voice.
MaryMullins
Posts: 532
Premium Chat Member
Opinion:No Opinion
Price:61.40
RE: 31st. Round
4 Jun '19
Strange this press release appears to have been pulled. I did not take too much interest as PMG not awarded any blocks from memory BP were prominent also noticed Faroe and Burgate. Did anyone download the awards.
GLA
MaryMullins
Posts: 532
Premium Chat Member
Opinion:No Opinion
Price:61.40
31st. Round
4 Jun '19
Oilmajor123
Posts: 156
Opinion:No Opinion
Price:63.00
RE: RE: SP
29 May '19
It's a bit yawntastic here, like watching paint blister in the baking sun of Aberdeen!!
heardy
Posts: 909
Premium Chat Member
Opinion:No Opinion
Price:63.00
RE: SP
29 May '19
They do read these boards then lol, whack in a duplicated 'a' trade just for good measure, we'll play later when a few stops have been triggered.
heardy
Posts: 909
Premium Chat Member
Opinion:No Opinion
Price:64.60
SP
29 May '19
No algo's = no movement even though all other oilies have reacted to poo.
Sonofthebull
Posts: 1,912
Opinion:No Opinion
Price:64.50
RE: KCA Deutag
20 May '19
LTD/Gogsy::Agreed there’s not much involvement with KCA on the Platform requirements for GPA...
Word on the street is Nexen are chomping at the bit for this partnership.... Still think we are waiting for Verbier results and Greater Buchan licenses before all involved can divide up there work involvement.
OGA want the oil out by hook or by crook.
Gogsy
Posts: 4
Opinion:No Opinion
Price:64.50
RE: KCA Deutag
19 May '19
From the previous press releases the rig is warm stacked. This is probably irrelevant to Perth. The rig is almost certainly incapable of drilling the 10km to Perth. Maybe it could drill Dolphin but that is a small part of GPA. GPA would rely on a subsea template with wells drilled by a mobile drilling rig and then a tie back to Scott by seabed pipleines. Oil processing would then be done on Scott. The sour nature of the Perth crude make the pipelines very expensive and will also mean a lot of modifications need to be done on Scott. The question is can this be done economically. Seen no confirmation that the FEED study has actually been awarded to anyone. That is a big piece of work so I would expect some kind of announcement somewhere if contracts had been signed. No contracts - no real progress
LivintheDream
Posts: 14
Opinion:No Opinion
Price:64.50
KCA Deutag
19 May '19
Hi SOB, I've just checked the KCA website and it states "The contract extension, which is for the provision of drilling operations and maintenance services, came into effect on 1 March 2019. It has an initial term of four years plus a two year extension option.", it also states that KCA have been the drilling contractor on the scott platform since 1992. From their statement, I have assumed maintenance and servicing and then drilling operations when ready? (although it's 3 years till scheduled FOIL and the contract extension is only for 4 years +2 more optional)
Also, Is the rig still warm stacked? It's been so long since the RNS on this subject - I don't know how long they would normally warm stack?
Unfortunately, I don't have a lot of knowledge on O & G operations (and rely on knowledgeable posters on BB's and other sources of info), and so it is more than possible to have not fully understood the O & G terminology on their website

apologies for the questions
Sonofthebull
Posts: 1,912
Opinion:No Opinion
Price:64.50
RE: KCA Deutag to drill scott platform
18 May '19
LTD: even though a contract has been awarded does not mean drilling is in the Scotts work programme. There is probably a small KCA maintenance crew permanently out there.......
LivintheDream
Posts: 14
Opinion:No Opinion
Price:64.80
KCA Deutag to drill scott platform
17 May '19
With no info from Tom, and quick search on the web, I see that contracts are being now being awarded for the scott platform, with KCA Deutag getting a 4 year extension on 24/04/19 for the drilling contract. Other smaller contracts are being awarded, crane operators and pipe cleaning (de-scaling).
Considering this platform was under threat 18 months with the rig to warm stacked and the crew laid off - it all seems to be moving forward - just one thing missing!!! an RNS from Tom!!!! - i can wait!!!!
Sonofthebull
Posts: 1,912
Opinion:No Opinion
Price:63.80
RE: Has Tom Cross has lost his touch?
15 May '19
Not sure what you gleaned from the Moray Firth as there’s no industry there. Lol next time try Davidson House !




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