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mrc mrc
in reply to your statement the chairman owns 20% so no takeover, same owners sold dana so do not rule out a sale, directors are here to make money not just shareholders
Finncap and Arden research notes from last year provide a lot of good information. Drilling of skerryvore was expected to be by the end of 2021.
We are due an update on the 29th of March. They don't report quarterly.
As to why we are not a popular share...
The chairman owns nearly 30% so takeover is unlikely even at this low valuation.
News flow is non-existent...I expect this to change as some of the projects get sanctioned and potentially drilling towards the end of 2021.
Basically it has been a bit boring here for a few years.
I expect the SP to rise on results.
The answer to Number 3 is most drilling work in the North Sea has been in isolation due to Covid. There are signs of green shoots with the oil price however Invergordon Port
Is still full of rigs.
Oil price staying above $60 should put the North sea back into full swing again.
Hi All,
I am new to the PMG board but would like to know your views on the below:
1) This company seems to be significantly undervalued on paper, the sum of parts - Gas, Oil exploration & forays into renewable energy/land bank etc - valuation should have been at least around 75-85p as per my calcs. (not considering the investor exuberance in the renewables space). Given the Oil price uptick and the a potential variance from the mid term Oil:Gas price ratio, this should have been a super stock by now.
Any idea why there is an overhang here? Is there any good reason (corp governance, missed targets etc) for the dampened sentiment here?
If not, then this might be a potential takeover target in the near future given its prospects.
2) Any reason for the delay in reporting quarterly results ? This is long overdue now, I was hoping there will be more information in the reports but the company communication with its shareholders seems to be a bit tardy, even for an AIM listed company.
3) Given the lack of info from the company, are any boarders here tracking company's progress on exploration and on its renewables energy efforts? Any info in this regard is greatly appreciated.
Thanks for your time. Good luck to all.
Not by me I hasten to say, I thought they where another view to add to the bb
Evidently.
It appears that your views weren't appreciated.
I mentioned PRD a few weeks back on this board. I realise some people don’t like the mention of other companies etc. But i mention it with totally honest intentions. Do have a look again, it’s not one to miss. I’ll not mention it again. I hold here and have done for two years. I’ve faith here absolutely.
Msmarkle
Sentiment is changing in the oil and gas sector.
This could turn around very quickly on any material news.
Some of you like me bought in at the beginning, after Dana. I’m hanging in because I invested 16,000 pounds which are now worth less than 5,000. I also moved from the Uk to Canada a few years ago so selling them will be difficult. There does seem like some optimism from some of you, so fingers crossed.
Drill skerryvore this year I think or early next
Skerryvore looking a quality asset now with quality partners: PMG 30%
NEO 30%
Cal energy (Warren Buffet) 20%
SQZ 20%
North Sea starting to come alive!
Guess we might find out in a couple of weeks in the results
Interesting, NEO energy looking to redevelop the Affleck oil field neighbouring our Skerryvore + Ruvaal prospects.
Remember NEO now have 30% in Skerryvore after Zennor acquisition and also an 11% interest in Platypus.
NEO could play a big part in PMG’s future, They want 120,000 boepd by 2023 by acquisitions and mergers.
Would they be interested in GPA?
Interesting times ahead
GLA
I don't know what it sold for.
I see it had a massive effect on the shareprice.
Great news - all cash that can be used for our developments.
Any idea what it went for? It was on the market for 3.35 million.
Tipperty deal was signed off on Thursday . The land has been purchased for the purpose of planting trees across all of the farm land
Interesting - Zennor petroleum got taken out by NEO a couple of days ago - NEO were already a 15% holder in Athena.
Now also a stake in Skerryvore/Ruvaal, and Platypus where Zennor were also in cahoots with PMG.
NEO are spending like crazy.
@Davde,
Thanks for your honesty.
Only 180p, That's cheap!
I held shares before the consolidation in 2013, my highest price paid is a princely 225p!
It has been a long painful road thus far.
Nonetheless I am still positive about the future. Our assets in oil, gas and renewables gives us options to pivot any which way the wind blows.
Good luck
@NoQuestionMarks started buying 2014 first 1,000 was about £1.80 if i recall! Average now low to mid 50's so under water but happy. The oil side of business has been impacted by oil price events over last few years but think we will see positives in the coming year or so. Expect PMG to be cash positive in update but that depends on development spend in last 6 months or so. At current SP very little downside imv with plenty of upside in coming years. I like PMG's cautious approach with minimal debt, whilst it can be frustrating, it does protect our investment and I like that being a cautious investor these days!
@Davde,
Timing.
I bought in several years ago, and have added on the dips to leave me with an average price of 72p.
If only I would have listened to my head and waited I could have had twice as many shares with an average price under 35p.
Do you mind sharing your average?
@ NoQuestionMarks You may have let your heart rule your head when you invested in PMG but I think most who invested in PMG did so based on rational thinking!
Hello all,
Curious to know how we are faring with our oil portfolio's now that oil is on the rise and Covid is looking to be beginning to be brought under control.
Mine is at dead even after today's close.
I have 60% of my portfolio in Royal Dutch Shell (B class), which are up 25%
I have 5% in Deltic Energy which is up 110%
And.... 35% in Parkmead, which is down 50%.
Parkmead has been the laggard of my oil portfolio for what seems like forever, as many others I let my heart rule my head and bought in at over the odds.
However, whilst I'm not prepared to sink more money in to such a small outfit, I am confident that I will see my investment in profit at some point in the (hopefully not too distant) future.
Some praying and lots of ramping, is there anything else that could help float this boat ?