Cross specifically stated at the AGM that when trying to get a licence in the North Sea that it was easier to do it with as partnership As OGA/DECC saw this as better chance of fruition.... However when questioned on a farm out for any of the licenses that the partner had relenguished ( Perth Hub )he said no ! that it would be financed by the Japanese.
With FPM relinquishing there circa 40% of Perth/Lowlander, I am assuming that an assignment is taking place, with transfer to Parkmead 100% operatorship??
If that's the case, perhaps this is the start of a TC deal taking place. With FPM commitments solely on Norwegian Assets, it removes a "hold position" with regard to Perth and perhaps best for both companies.
So are we now looking at a Farmout or FDP / Finance / Placing ??
Or a retracement of PMG share price into the 40's and an offer from FPM ???
Whilst it appears to be a long time coming, it would be rash to not expect further developments shortly for PMG. FPM seems to have thrown a low ball with attributing zero value to Perth/Lowlander Development and a time frame further out.
Only my opinion, but a debt free company with estimated revenue's of £M -10/14/18 going forward, is an easy one to accrue in the 50-55p range. I just don't see Skerryvore, Platypus, Perth providing the impetus, nor the WOS licences unless a farm out develops. So its a Tom Cross deal that's required - or a FPM takeover next year with TC on the Directors Board for UK Assets - time will tell and its best to accrue before the news!!
Well, in a very affectionate way yes. Difference is Trinity rose 16.5percent today to 11.65pence Next week imho it will move to the 15p to 20 p range. DYOR Imho Lets think . Is a company with an annual profit of £20million likely to rise to £40m per annum in the next three years worth more than a market cap of £30million? The oil is flowing out of the ground at 3000 barrells per day at $15 production cost per barrel. Answers on a postcard please. Mary Mullins, please tell them. Ax Once the world has worked it out we can whack the profit in here for the next PMG jump. In May?
Off the bucket list for 2017. Because TC keeps his on council and only updates when required really seems to irk some people .Parkmead like Dana does business and does it well. A very very well run company with an excellent team behind them. Still nice to hear the gripes from the "board members"
Trin SP was 1.8p when I posted the original post. it is now 10.25p and motoring. My target price is 24p by end March at which point I shall be back in here with £150k to play with on PMG. Selling PMG at that time appears to have been a bit lucky anyway, GLA.
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