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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!
BJoe
The last 7-8 years have given everyone a chance to buy into a company that's currentley sitting on a potential 30 bagger.....
R66 - I concur completely.
Story hasn't changed or produced any significant gains over the last 7-8 years.
It seems that everybody has heard of the super cycle with the exception PMG.
I suppose we can at least take some comfort that there is enough cash to continue paying TC his £500k per year !
Roadster66
How you doing pal...Why so always bitter in your posts.....Parkmead are currentley in talks with farm in partners. Just like all the other oil and gas minnows in the North Sea....
Havnt you heard of the oil and gas super cycle ?
This is just the standard ‘bone’ they throw out when the share price is flapping about in the doldrums . Nothing new and no progress at a time when oil and gas prices are at the highest levels . It’s jam tomorrow all over again but tomorrow is a long time coming .
Kist are looking for projects
With almost €130 million of cash at our disposal, we have the financial strength, capital discipline and track record to grow the business and deliver shareholder value.
We remain guided by our founding principle to play a role in the energy transition and are evaluating several attractive opportunities in the North Sea. We continue to benefit from high gas prices in the Netherlands, and we are assessing opportunities in the UK that would enable us to take full advantage of the investment allowances implicit in the recently introduced UK Energy Profits Levy."
After the rally from 40p to 52p in the last week and half(including jubilee break), price is holding well and appears to be consolidating, a good sign of a pending move higher to the 60p resistance level in the coming few days/week. If we can break 60p then next resistance level is 75-80p. There is a good reason why the price target is 160p. With sanctions on Russian oil expected to last years, UK energy security means that the likelihood of a GPA farmout is dramatically higher. Also, with recession probably ahead, commodities/energy is the best place to invest because of the supply issues driving up prices and profitsand . I woudnt risk investing in any thing else. Not many good energy shares left out there with potential to multibag.
doyle172
Totally agree with your thoughts.....Kraken Bentley Bressay are heavy oil fields it's only recently that these projects have moved forward due to not much left to take out of the North Sea,plus technologies today have came on in leaps and bounds
Orcadian energy have heavy oil fields and are now trying to get over the line with a farm in......Hope they get it
Parkmead and GPA also fall into the last of the oil in the North Sea,it's coming out one way or another be it tie back to Scott or Piper B platforms or an FPSO.
West coast is the new frontier and we have a wildcat with Davaar.
Age won't stop Cross the guys a workaholic 61 years old
No where near drawing his pension !
It’s been such a dynamic couple of years. Think many big projects have had so many moving parts they have been difficult to get off the ground. Still think Tom is the right guy and is well aligned with a massive personal holding. Sometimes you have to be more patient than you initially thought. Nature of the game. There are big potential rewards here and I think the odds got better for a sale of GPA or farm in. Don’t see a raise coming.
Absolutely agree - "If there is news however there will be a dramatic move....".
I've been saying the same for years and the first word in that sentence is the key one, and that is where my faith has now wavered...
I can still see all the good reasons for holding and have done so for several years, but at the end of the day no news is no news, and no news for a long time ...means there probably won't be any...IMHO.
Anyway...Good Luck!
Valid points Robs. Guess that’s why the share price is where it is as you say. If there is news however there will be a dramatic move and I still have faith.
@doyle172, you pretty much wrap it all up very succinctly there:
"We have been in advanced discussions with commercial partners for the GPA for several years" and
"...waiting to happen."
Yup.
As for the rest...
8th biggest NS project isn't a project until it becomes commercially viable and the deal is signed. Which will mean a massive cash raising exercise of some form unless they sell it off. And previous cash raising exercises (at much higher share prices than today) will mean much wariness for investors. (Maybe that should read weariness... ;-))
MCAP is silly - it's what the market thinks it's worth, and see above.
Dutch assets cash generation - as I've said before many times, it's only enough to keep the company afloat and paying TC's salary without a cash raise. Production is also decreasing rapidly, so largely dependent on prices staying high.
Planned NL drill - still can't find any applications - can you?
157mbbl at Skerryvore is on a 25% chance of geological success, certainly not a done deal.
100% owned hub. There is no hub yet... see above. And if in the unlikely event that the years of 'advanced discussions' actually do result in a deal, it definitely won't be 100% owned anymore...
Waiting to happen...already said, but fully agree.
The question is, do you think TC is likely to make it so...he's 61 and his photos in the annual report are some 10 years old so it seems he's trying to hide it. And he's pulling down £500K salary from PMG alone, with all the additional linked companies providing additional income (rent on the office building etc).
Do you really believe in this?
I'm still holding (after many years), but sold down a chunk in the last spike - I'm no longer the 100% believer I was, and don't think the risk is worth it any more.
With Commercial partners interested this surely creates other oil companies taking a look at the bigger picture for a farm in !
We have been in advanced discussions with commercial partners for the GPA for several years. I imagine things will come to fruition soon and that all could happen very quickly given proximity of Scott. Please read the link.
We have the 8th Biggest North Sea oil and gas project. MCAP of £60 mil is silly given nearly £30 mil cash in bank, cash generation from Dutch Gas Assets, Planned drill for more dutch gas. Owned wind farm and land. West of Shetland Daavar and 157 million barrels in Skerryvore. Plus the 100% owned hub of course. Parkmead is a mid-tier energy company waiting to happen.
https://www.energyvoice.com/oilandgas/north-sea/402302/new-north-sea-oil-projects-could-deliver-1-5bn-barrels/
The list is endless !
Could be our big buyer back. Either way nice vote of confidence. Ready for lift off imo
TC gonna give us £2 very shortly........Patience nearly there !
Where's Bob when the share is primed for orbit ?
Give us the Divi TC!
That cash pile keeps getting fatter by the day,
the 115p/share for every $10 above $60 per barrel is post tax NPV for perth alone, so if the windfall tax on profits was permanent it would have an effect, but as it's only around until 2025, than answer is no.
Current chances of finding a farmout partner have massively improved in the current enviroment. Who knows when, but as GPA is not priced in atm, I would rather be in than out to be honest, especially as the current price is backed up by large amount of cash, and the other assests.
I've seen shares like CHAR go from 7p to 27p recently, so the appetite for OIl and gas is there. Get in at a good price and risk/reward is very good.
If the tax is exempt cause it's an aim share then they won't qualify for the assistance package.
So still waiting for the answer to the original question.
Is SOTB on the wrong side of trading out here
SOTB, is it confimed that windfall tax applies to AIM shares? I suspect they are/will be exempt as it makes no sense for this tax on small businesses.
marineclark
Is that not 80p now with 25% windfall tax !