interims friday or monday and Im hopeing it will say £60 mill + cash and our assets are worth far more than £80 mill to correction i hope back up to £2ish minimum but oil price falling will keep pmg down from the normal trading of £2.20-2.50. imo
The Parkmead Group plc logoThe Parkmead Group plc (LON:PMG)‘s stock had its “buy” rating reiterated by equities researchers at Westhouse Securities in a research report issued on Tuesday. They currently have a GBX 400 ($6.35) price objective on the stock. Westhouse Securities’ price target would indicate a potential upside of 145.40% from the company’s current price. Shares of The Parkmead Group plc (LON:PMG) opened at 162.00 on Tuesday. The Parkmead Group plc has a 52 week low of GBX 143.263 and a 52 week high of GBX 297.25. The stock has a 50-day moving average of GBX 182.8 and a 200-day moving average of GBX 211.5. Several other analysts have also recently commented on the stock. Analysts at Beaufort Securities reiterated a “speculative buy” rating on shares of The Parkmead Group plc in a research note on Thursday, September 25th. Analysts at Numis Securities Ltd reiterated a “buy” rating on shares of The Parkmead Group plc in a research note on Wednesday, September 24th. They now have a GBX 262 ($4.16) price target on the stock. The Parkmead Group plc is engaged in the oil and gas exploration and production and the provision of energy sector economics, valuations and benchmarking.
The first half saw our production adversely affected by the aforementioned bad weather at Athena restricting the lifting of crude from the FPSO coupled with the reported A2 well's pump failures which led to fewer tanker loads being delivered and sold during the period. Whereas at the beginning of the field's life, when all the wells were online with fully functional electrical submersible pumps, there were multiple loads being delivered for sale each month. We are currently, on average, experiencing less than one tanker load per month which results in some months not having any production income. Such timing differences can have a significant impact on our cashflow and working capital position as we can only recognise our share of the income only once the oil is sold in accordance with the Group's accounting policies.
interims friday or monday. should have a very healthy cash balance and hopefully athena p4 well has been sorted and better than expected flow rates before hand, 10.86p old money top ups you just have to laugh really after 3-4 years of waiting. the only ones making money are the ones that traded it.
Parkmead carries on doing its job, in this case picking up acreage in the 28th round. Like Faroe, with whom it is a partner, it has picked up useful blocks in the Central and Southern North Sea all of which it will operate. Three are near the Perth/Dolphin/Lowlander hub others elsewhere with more to come in areas such as West of Shetland and with assorted partnerships it has strengthened its position in its core areas. Tracking the oil price may keep Parkmead in the doldrums for the time being but long term confidence will eventually be rewarded.
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