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good find SOTB, reckon we should see price double instantly on farm in news, and then move higher thereafter. Any day now....
At the moment?! There have only been 50 RNS announcements since Dec 2018! : )
Parkmead super quiet at the moment. Hopefully a big deal being worked
Enquest is another UK continental shelf (UKCS) producer where Slater sees the potential for plans to change. A late May trading update continued to focus on deleveraging, “but clearly the windfall tax now creates a new incentive to increase capex instead”, the analyst suggests, given its planned $165mn spend this year is “relatively restrained”. “If Enquest elects not to alter its capex plans, then we would expect it to pay a relatively material windfall tax bill compared to some others,”
Exciting talk. Been thinking Serica as a partner for a while, but on Skerryvore, not the hub. Are they big enough?
“Capex plans for 2022 are relatively light in the context of Serica’s production base,” says Daniel Slater, oil and gas research director at brokerage Arden Partners, while acknowledging that additional activities are being assessed. “Unless the company alters its capex plans, it is fair to expect it to have a material windfall tax liability, while nevertheless generating material cash,” he warns.
“The incentive to recycle UK production cash flows into new UK capex should provide a boost to companies looking for farm-out partners for development projects,” says Slater, which could boost pre-production UKCS players such as Jersey Oil & Gas (JOG), Orcadian Energy, Parkmead Group and Deltic Energy. Existing producers looking for capex spending opportunities outside their own portfolios may now find farm-in opportunities to projects such as Orcadian’s 79mn bl polymer flood Pilot or Parkmead’s sour oil Greater Perth Area developments more attractive, in Slater’s view.
Doyle, PMG do not issue quarterly results. The next financials published will be the interims at the end of November.
Maybe you are referring to Vermilion's quarterly report for the NL gas interests? The last one (for Q1) was announced 11 May ["The increase in Germany and Australia production was slightly offset by natural declines and unplanned downtime in the Netherlands." But it gives no detailed info about the four wells that PMG have an interest in, there is only the monthly production data at the NLOG site for that, issued end of each month].
The Vermilion Q2 report should be out mid August.
I really hope we get some info on other progress.
Dutch TTF moving higher again. Cash will be building nicely (£30 mil by now?) Windfarms likely to develop. Land owned plus wind farm (Joint value £8mil now) Dutch assets with planned drill of Diever. GPA Hub (8th biggest North Sea pre FID project) Proven resources near infrastructure (Scott) Skerryvore 157 million barrels (cashed up partners SQZ, Cal and NEO) Daavar (sitting in a sweet spot West of Shetland). Platypus (Left field chance this will come back - off the peg development) All for £55mil. Just buy and wait for the news. It's coming
Why are you so negative Bob.....The current price for oil and Parkmeads assets are a no brainer.....If the price of oil collapses then every other oil company will also tank.
You have sold your stock so why are you on here constantly berating Parkmead !
Simarly to JOG and CHAR which have rocketed recently, hoping for the same here. IF farmout news comes, expecting this to fly.
DYOR research of course. **** does happen. I bought in a 44p so happy with the profit so far. Happy to hold for a month or two to see what happens, and will decide when to take profits if and when a breakout does occurs.
Price has been in a rising triangle since March 2020 when it hit lows of 18p and is showing successive higher lows thereafter of 25p in OCt 2020, 35p in Dec 2021 and again in Feb 2022 - a double bottom, and more recently the 40p lows last month in May 2022.
Interesting to note that the last downward swing to 40p didnt touch the lower line of the triangle as in the past, indicating a possible breakout ahead.
As the price moves closer and closer to the apex of the triangle which is not too far off, expect to see a breakout of the upper line of triangle to the upside., beyond 60p.
This is a good trader's share. Catch the bottoms and the upward swings can be highly profitable. However, when it looks like a breakout is about to happen, best to hold on for longer.
LOL...the comments on this board get more and more ludicrous by the day, even with the worst culprits filtered out!
GLA...
.... but PLEASE...DYOR (rather than be taken in by some of the misinformation and BS spouted on here..)
No need to elaborate
Look at the recent trading patterns
Re read my post
Over the Summer? Last summer? Can you elaborate?
As you say very quiet
Something big is upon us
I was told a number of bits of news over the summer
Yes Bob of course the figures are wrong they are old not based
on the current days oil and gas prices for the foreseeable future.
Don't know how many times it has to be said...these unrisked Finncap valuations are completely wrong. If you actually look at the figures they are still including Sanda North and South in the calculation, which were relinquished over a year ago...
That alone is an ERROR of over £6....
DYOR...
Could see an offer for the hub coming. We know it’s there. Know it flows. Infrastructure close. Big asset. Also expecting Platypus to come back to us.
Doubt very much for a take out.....The problem now is securing a rig because they are all in demand. Drill crews are becoming hard to obtain (big up lift in wages will secure there services )what with the downturn over the last 7 years....However money talks which means a premium on the rig day rate.
GPA got a good chance of a FID with a farm in partner before Parkmead announce appraisal at Skerryvore !
We are valued at £1.59 risked and are currentley way off base !
Boom sooner than later !
Very hopeful of a massive re rate at some time soon. This quietness is unusual even for Parkmead. Something brewing? If we dont do something soon we are in danger of take out before realising value which would be very upsetting
Unrisked NPV is 1754p, 35 bags. Risked NPV 159.6p, a 3 bagger from current price.
GPA is the biggy. It may be true that the share price has moved within a range in the last 5 years (25p to 80p), but the difference now is the ukraine war and its effect and long term UK and global energy security. Which means that GPA farm out is could be any day now.
Its almost exactly 30 bags. £16.71 if I remember correctly. According to FinCap (unrisked figures).. But that was based on an average oil price of $50 so would be much higher now! Wouldn't that be nice! lol. Come on Tom. Time to give us some good news.
I am not sure where you get the 30 bags from but keep dreaming!