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VIDEO EXCLUSIVE: TSX-listed Transglobe Energy Corporation considers London listing Watch here

VIDEO EXCLUSIVE: TSX-listed Transglobe Energy Corporation considers London listing


Parkmead Share Chat (PMG)



Share Price: 35.50Bid: 35.00Ask: 36.00Change: 0.00 (0.00%)No Movement on Parkmead
Spread: 1.00Spread as %: 2.86%Open: 35.00High: 35.00Low: 35.00Yesterday’s Close: 35.50


Share Discussion for Parkmead


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moyon
Posts: 119
Observation
Opinion:No Opinion
Price:35.125
RE: PMG and Tom Cross
Tue 00:38
It was meant just as an observation related to presentation of information etc. - not the basis for investing (which is to look at their strategy, through their accounts and the background and past success of the directors etc etc.).

The nature of this kind of business means there is quite an element of risk.

You may be sitting on quite a large loss (about which I can only sympathise) which may account for language like 'treacherous' company; 'incompetent' (well give me a bit of TC's incompetence if it has provided £60m in the past for him....).
Finances aren't run inefficiently on the basis of licenses not working out as planned - you might argue that their technical staff have made mistakes/wrong calls which then impact on the financial position, or their strategy has been wrong, but that is another matter not one of financial management as such.

Do you/we know enough about the situation at Diever West and the opportunities available to Parkmead?

Judgement in business is not clear cut even if you are the bright of the bright - whether technical or commercial. Did you know that Larry Page and Sergey Brin tried to sell Google for under $1m in 1999 (to Excite who didn't buy....) Well does that mean LP and SB are incompetent for trying to sell their company for under $1m when just ten years later it was worth $167 billion; why couldn't they see in 1999 what wonderfully successful projects they could invest in... :)

Anyway, let's see what pans out in the next few months....
bw
 
Isengard7
Posts: 2,988
Off Topic
Opinion:No Opinion
Price:35.125
RE: Diever West
Mon 21:14
One last point before I return to my corner.

The company has referenced its gas project as acting as a natural hedge.

effectively using their income from Diever West to offset their losses on the more risky oil licences.

they kept winning new licences but now dug themselves a big hole. very costly to relinquish them.

West of Shetland area, they increased the equity from 56% to 100% in April 17. They think it has potential for 280 million barrels of recoverable oil.

this illustrates the point I am making. instead of bolstering Diever West and similar gas projects, they're just ramping up on these risky oil licences. I think Fidelity have realized PMG going nowhere with this strategy.
Isengard7
Posts: 2,988
Off Topic
Opinion:No Opinion
Price:35.125
relinquished licences
Mon 21:01
funny how they like to release RNS on winning new licences. But seldom notify us of the ones they relinquish.

Just shove a little note in the accounts and hope nobody notices it or complains about it.
Isengard7
Posts: 2,988
Off Topic
Opinion:No Opinion
Price:35.125
Diever West
Mon 20:58
allocating the capital to Diever West would bolster their balance sheet.

instead they waste millions on pointless oil licences which inevitably slap their P&L like a wet fish.

why not give the oil licences a back step. Or is the management that incompetent. I invested in this company nearly 2 years ago, thinking that PMG had a decent management team.
Isengard7
Posts: 2,988
Off Topic
Opinion:No Opinion
Price:35.125
RE: PMG and Tom Cross
Mon 20:51
Diever West is low risk. PMG management team are incompetent.

Believe me If I could turn back the clock I wouldn't have bothered with PMG. Waiting for dead cat bounce for my exit then I am out of this treacherous company.

PMG's finances are run inefficiently. Their losses are largely due to impairments as they have had to relinquish licences. They accumulate pointless licences, waste money on them and don't focus projects that matter like Diever West.

interim results that we had back in March.

Note 2.

Impairment of exploration and evaluation assets. impairment charges of £2,409,000 recorded in respect of
exploration licences relinquished in the period.

Note 2 and 3, resulted in them making a net loss. That's amateurish stuff; not sure what they are thinking lol.

This is company is not as low risk as people think. why waste millions on these very risky licences. why not concentrate on Diever West. its poor allocation of funds that annoys me the most about PMG.

They won't make a net profit at year for 2017. They have got too much impairment to release into the P&L. There is likely to be considerable bloatage in their admin expenses as well.

you can pretty much write the rest of the year off. 2018 will be a 50/50 depending on whether they allocate their capital to the correct projects.
Isengard7
Posts: 2,988
Off Topic
Opinion:No Opinion
Price:35.125
RE: PMG and Tom Cross
Mon 20:38
lol you carry on investing in companies with "excellent websites"

meanwhile I will try and avoid companies with "excellent websites" that lack substance
Pherber
Posts: 57
Off Topic
Opinion:No Opinion
Price:36.00
RE: PMG and Tom Cross
Mon 15:04
If you're in then it a 'screaming hold'

If you're out then it's a 'screaming wait'
Forkliftseller
Posts: 155
Off Topic
Opinion:No Opinion
Price:36.00
RE: PMG and Tom Cross
Mon 14:33
They were saying that when it was over £3............................
Sonofthebull
Posts: 655
Off Topic
Opinion:Buy
Price:36.00
RE: PMG and Tom Cross
Mon 11:59
It's a screaming buy !
MaryMullins
Posts: 425
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:36.00
RE: PMG and Tom Cross
Mon 11:41
You are perfectly right Pherber but that will not stop us having the occasional whinge. One thing for sure it is highly unlikely that TC will change his modus operandi any time soon.
GLA.




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