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Hi Buzz, bestie
I hope your buying hard
My friend stay safe
18p pre news......
First target is 34p for me
GLA
News soon, back into the 20s hopefully next week........
Crazy cheap!!!
Come on Doyle keep it real !
Deal coming in next few weeks. Tom did mention 17th to me on phone call but rns suggests may be a bit later. I think he has something to tell us soon
Only way is up from here.....
Hopefully!
Should be interesting to hear from TC what the number of positive developments within the Group's renewable energy and oil and gas projects will be later this month at the trading update and results presentation.
What's 14 million barrels worth to CNOOC / Scott Partnership?
https://www.offshore-technology.com/data-insights/oil-gas-field-profile-perth-conventional-oil-field-uk/?cf-view
https://itportal.nstauthority.co.uk/eng/fox/oga-report/PED300X/offshore-licence/?LICENCE_TYPE=P&LICENCE_NO=218
RISHI Sunak approved expanding North Sea oil and gas exploration to reduce the UK’s reliance on imports from Russia.
Legislation in the King’s Speech tomorrow will protect jobs and bolster energy security, the Government hopes.
It means the North Sea Transition Authority will invite applications for new production licences each year.
The UK would be less exposed to international forces’ unpredictability.
Mr Sunak said: “Domestic energy will play a crucial role in ... protecting us from the volatility of international markets.”
Energy Security and Net Zero Secretary Claire Coutinho said it makes sense to use oil, gas, wind and hydrogen “on our doorstep”.
Looks like there are many voices coming from one poster...
Couldna make it up !
Robs12
Thank you for your well researched and informative reply, regarding Skerryvore.
Bob
I'm stating what Cross said at the AGM......Why would he say it ?
Eh... since you know it all !
Skerryvore is not an appraisal well.
None of the prospects have been drilled previously, and the geological chance of success (CoS) is 24%. This is from Parkmead's own website.
It may well be surrounded by other producing fields, but the same could be said for much of the North Sea!
Parkmead obtained the licence in 2010 (just over 13 years ago!) and had this to say at the time: "The work programme consists of reprocessing the existing 3D seismic to refine a well location, and a firm EXPLORATION well targeting the sizeable Skerryvore prospect within four years." (My CAPS).
And had this to say about it in 2014: "A site survey has now been completed providing detailed technical information on the Skerryvore location ahead of the prospect being DRILLED IN 2015." (My CAPS)
Appraisal Well would be music to the ears for Serica Energy rather than the normal 25-30% CoS. Perhaps Mercuria are running the slide rule over Parkmead and would like to replace Mitch Flegg as CEO of Serica with Tom Cross - how about a £20m offer and that golden hello - it would ensure he still gets to the Marcliffe charity bash and an elevated £900m salary going forward.
My post from a couple of weeks ago following a conversation with Tom. He called me back finally and was incredibly positive. Align with the RNS
Skerryvore is 'analagous to Peirce' and is an appraisal well. One of the best 'low hanging fruit in North Sea'
I spoke with Tom Cross last week after trying to contact the company secretary as so frustrated at lack of news. He called me back personally. 'There is no other company in the sector with the upside of Parkmead'. He feels the frustration re share price and feels it himself as the biggest shareholder. He is massively vested and invested. Skerryvore is incredibly well supported with partners Cal and SQZ. Cal are 'awash with cash' and see Parkmead as a strategic partner. Buffet likes Parkmead. I wouldnt be surprised if an offer came from Cal at some point given close working relationship. Two company making deals on the go, one renewable and one gas. Scott partnership also interested in working on Gamma East, which is 100% Parkmead and lies directly under Scott, which has its own drill rig on board. Make of that what you will but its sweet not sour crude. Dutch projects great results but on shore licensing takes time. Its a queueing system. Dutch authorities want the gas and its a considerable result. He couldnt tell me any more for obvious reasons, but said more will be revealed in the results on 17th November. £158million of tax losses to offset is a 'massive asset' Could be used or packaged with an asset or part of asset and sold (Skerryvore) for a big payday
Cross stated at the 2021 AGM that there's oil at Skerryvore as it's slap bang in the middle of two producing licenses he said it's not an exploration drill but a an appraisal well that needs performed.
Robs12
Thanks for all your accurate and factual information recently.
North Sea Development 2024
Has there been any information around the likely "Chance Of Success" and cost of the Skerryvore exploratory drill being planned for the end of next year?
There's no way a fundraise would get over the line unless there was a really big project with a major as a partner stumping up most of it. But for what? The big projects have evaporated away...along with all the smaller projects.
Previous fundraises for those evaporated key projects have proved to be disastrous. Nobody would put more in based on the track record.
TC himself has lost a fortune. But still pulls in half a mill a year and has a huge pension pot so maybe doesn't care....
Does PMG actually have a CFO at the moment, or just an anonymous controller..
https://www.insider.co.uk/news/parkmead-parts-ways-finance-director-30248364
Hopefully Andrew Smith is going to pull a rabbit out of the hat after nearly five years with PMG...and more than four years since buying out TC's wife's farm with the 'wind farm potential'... and yet no planning permission applied for yet.
I hope....
Not sure there is much new? Is there a fundraise that TC is trying to get away?
We know gas prices were high last winter, and we know what PMG have produced in that 12 months.
We know that the key projects have evaporated (platypus, Perth).
Monday morning will be interesting... ;-)
Been dog of share, all time lows, updating shareholders on a number of positive developments within the Group's renewable energy and oil and gas projects, bad news all priced in,
I think they were just reminding the market that they have some relatively massive write downs which will show a massive loss for the year, however, the key here is that they are not cash write downs and the underlying PMG message is that profits are up (although Dutch and UK EPL taxes will have an impact) and gas production should also increase going forward, so better news next year. What the other plans and updates are - we'll have to wait and see.
Bob
Put a sock in it !
An interesting after hours Friday afternoon RNS...normally the harbinger of bad news...
Good news NL gas has started flowing finally, and sounds positive (needs to be!).
Strange timing.
Let's hope they really intend to give some positive updates on renewables and O&G, and it's not just more of the same "we've made progress blah blah"....but actually nothing's changed...
If Tom Cross really believes in Parkmead wont there come a point when he takes it private?