Parkmead Share Chat (PMG)

Looks like another crack at 80p is on the cards in the not too distant future.

You are right about PMG, however, given the current sp, the assets including an increasing pile of cash, all we need here is a take out bid or news on the development or sale of one of the licences. The sp still has legs with the right news in the near term.

Is that not the crowd that almost brought down TLW?

The trouble is AimOilking, PMG are not really a producer, they have a small stake in four gas wells in the Netherlands, producing less than 300 boepd. With the planned new drilling that may increase a little, but won't be significant.
They have potential (GPA & Skerryvore) but the reality is that it will be (many) years before they start producing from those - if they actually get over the line and start work on them, assuming they can find a partner.
So short term O&G price spikes are not really relevant.
If you want exposure to that you need to jump into current producers. Don't think I've ever spruiked another share on this board, but AET seems a good opportunity right now , DYOR etc etc.

Oil and Gas particularly have spiked this evening - should be interesting for PMG tomorrow, perhaps the retrace is over and we are ready for another bull run on the share - even without substantial news. PMG's bank account must be bulging and adding theoretically more than 1p a month in asset value to the company alone.

Roadster66
Never traded.....Bought on dips average £0.50 thanks !

I’m not your pal ! However I never cease to be impressed by your unending optimism …..never a hint of realism . You’ve been saying the same thing for over ten years with the same results . If “Tom was going to bring it home” as you keep demanding he would have done so long ago ……but why would he risk his £500 k lifestyle ? ….if he doesn’t move very quickly in today’s energy climate he never will . On the other hand , you , being a day trader , will be quite happy to dip in and out making a few pennies with every rise and fall .

Plenty of talking going on in the North sea !

There are no talks that we have been told about.

All we know is that TC has had to draft in the help of money grubbers to try and sell it.

Roadster66
Where have you been pal ?
Farm in talks for GPA and two drills in the Netherlands.....33rd licensing round....Share price in the upward cycle.

….but not for anything else ?

Still very promising for Skerryvore !

Kistos and Serica merger deal fell through they will both be looking to move there money Into future deelopments rather than pay the EPL......
Bring it home Tom !

Hindsight is a wonderful thing of course, but just imagine where they'd be now ...if only...

Originally posted March 2022:

"Hmm. I'm not wanting to talk the share down if that's the discussion....I just want them (PMG) to get on with it.
I try to report useful and factual posts about where they are (and dismiss the obvious BS and correct the misinformation when it crops up) - I have a large stake I want to see a decent return on. And that IMHO depends on them getting GPA across the line.
Skerryvore may get a drilling decision this year if they do what they say, but could be some time (years) before any drill starts twirling, and even then it's not a given that it'll find anything. We'll see.

I don't think PMG have actually been involved with a drill since 2013 - as 20% minority holder on Pharos - which was announced with much (somewhat ironic in hindsight) brouhaha:
"The discovery at Pharos is potentially valuable to Parkmead because, depending on the volume of gas in place, it could be jointly developed with the Platypus gas field, which is situated only 14km from the Pharos location. This would increase the value of the already economic development at Platypus. The Platypus gas field was discovered in 2010 and it was successfully appraised by Parkmead and its co-venturers with a horizontal well in 2012. Platypus was flow tested at a rate of 27 million cubic feet of gas per day (approximately 4,600 barrels of oil per day on an equivalent basis).
subsequently relinquished despite being a gas discovery. "

That all went well - Pharos was quietly relinquished some time ago, then Platypus too."

15% of 4600 boepd is more than double the NL production net to PMG.... oh well.

[To add..Still have a stake, but it's a free carry now. Not a pretty end to the day today...TTF still holding up so hope that is not due to some other news.. ]

Lots of sheep selling today, we’ve had a great run.
Next leg up could come anytime.
Skerryvore news can’t be too far away.
GLA

Plus, I was expecting a retrace (wish I had acted on it), but as I said I do not want to be out when this pops to a £1 or more if the terms are good.

Added yesterday and today on dip. I agree TC has disappointed in recent times but I still believe he knows what he is doing in an ever changing economic and political environment. Yes, the gas prices are sustaining PMG now and probably will do for a while with additional wells coming on line soon. The key things are that PMG has a couple of good assets and the stars are aligning and I do not want to be out when news does come out for a farm in or takeover.

Brent closing in on $100 a barrel. UK needs energy Parkmead has it all......

Likewise I am a vLTH , The Gas price is the only driver to this SP increase , nothing ,in my opinion ,due to BOD actions, I fortunately was able to at long last sell at a profit, I could have made more profit however I chose to retain 20% of my holding on the gamble/possibility of a Take over bid as that is the only event stopping the SP dropping back substantially .IMHO.I whole heartily agree with Robs12 previous post, a very informative summary of the situation . Others will disagree , fine, we are all entitled to our own opinions , only time will tell .Best of luck with your investments in these turbulent times we find our selves in.

Very good post Robs12 puts a lot into perspective. As a vLTH, I also do NOT rate TC highly. He is sitting on a cash pile that is ever getting eaten by inflation. GPA is written off in my mind years ago. He has struck lucky with the gas prospect, if he really predicted that gas would be this high he would have put more on the table years ago. That gravy train will stop soon... then what? Share price is where it is due to hoards running into gas markets.... what this means for me I dont know. Hopefully gets to £1 then I might consider exiting this long and painful journey.

MRC
Shell think differently !

Wow I had missed that post Robs - thanks for putting it up.

For me it confirms that fair value here is closer to 40p if you risk the prospects and account for all the hidden costs coming down the line.

It’s a gamble that TC still has something, and odds don’t look great at his time of life.

Bobert.....
Circumstances have changed Energy Security is real and Parkmead have it available in plentiful supplies.

BJoe, to add a little more detail on the history - originally posted April this year:

"PMG have not drilled a single well as operator since they were formed...

Since then they've also raised £78 million and gained another £6.2m when FPM were taken out. So where is that £84million now?
300boepd from the Netherlands, three windmills and a farm that belonged to TC's wife? And potential.

With much publicity and promise they have acquired multiple licences as operator, none of which have gone anywhere and many of which have been relinquished:

After TC became Chairman in 2010 the first annual report said "During November 2011, the Group completed its first acquisition in the UK North Sea in line with its philosophy of acquiring known properties, in this case the Platypus gas field and Possum gas prospect. The Parkmead technical and commercial experts have a long history and detailed knowledge of these assets making these an ideal first acquisition for the Group."
Hmm...
Platypus 15% (Dana operator) - discovery (flowed 27mcfpd) - relinquished.

Pharos 20% (Dana operator) - discovery - relinquished.

How many ££ sunk into Athena (10% -> 30%), was flowing 7.5K boed (and yet more to be sunk decommissioning?) - partly decommissioned.

NL assets acquired in 2012:
- 15% in Wijk en Aalburg producing field - shutdown.
- 15% in Ottoland oil field development, drilled, tested, due to come onstream 2012 - never happened.
- when acquired these fields (it did not include Diever then) were producing 2000 boepd, and PMG stated "300 boepd net to Parkmead". Strange that, since there was no mention of the royalty that effectively made it 150 boepd....and has been kept quiet for the last ten years. Incidentally, 300 boepd is what they are getting now, including the addition of Diever, which is 80% of the total production.
- 15% in Papekop - note that there is still €3m payable to Dyas if it ever gets drilled and flows...
- 7.5% of Diever - does anyone know if there is a 'hidden' royalty attached to that? When they bought out the royalty on the other three fields last year, they only stated that "The Drenthe VI licence, containing the large Diever West gas field, is not affected by THIS royalty." (My caps). Could there be a separate royalty for Diever, which was also a co-venture with NAM like the other fields...?
- In 2017 they said "including a new well at the Geesbrug gas field to maximise production and early development planning at the Ottoland discovery" - neither happened.

Lowlander - "The addition of Lowlander increases Parkmead’s 2C resources by 29% to 95.3 million barrels of oil equivalent (“MMBoe”)"- relinquished...

Polecat (50% -> 100%) - appraisal well (before PMG got it) flowed 4373 boed - relinquished...

Marten (50% ->100%) - discovery (before PMG got it) - relinquished...

Sanda North and South - relinquished...

Skerryvore - back in 2014 - "Skerryvore site ahead of the prospect being drilled in 2015.."

Get real!
Robs is quite right - his summaries of PMG having a long history of acquiring licences, assets, etc. & trading on the potential for years without bringing any to fruition in spite of numerous appraisal studies, etc., etc.
Very disappointing for LT S' holders but one can perhaps live in hope in the current demand situation that they will actually deliver sooner rather the later/never, instead of missing the boat altogether.
GLA