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Oil looking like it is coming back into favour now. Could see a decent bull run. TC unlucky the way the cycle has worked out this time but to be fair he has protected the company and we are still here with a big bag of cash ready to develope our considerable assets.
Ten years is a long time, because of Dana some are hoping that it will be repeated in Pmg, these are different times, wouldn't be to hopeful.
Indeed - at an average share price considerably higher than today.
All it will take is the GPA announcement and he will make his money back and much more. Let's hope this is the year!
At the 2019 AGM Tom said he had put all of his money into Parkmead !
That told me he is confident of success !
Why would a man like TC, who made such a huge success of Dana (and who, I suspect made a shedload of money himself in the process) embark on a new venture such as Parkmead? Now, I don't really know, but I think ambition and specialised knowledge may well explain his continuing drive. Is this hubris? I would have thought it unlikely. Rather, I suspect, TC is determined to prove himself again, as I believe Sir Martin Sorrell is endeavouring to do at S4 Capital. Of course, I wouldn't put all my money into oil, but TC is looking at gas supply as well, and it is difficult to believe that we shall not be gas-dependent for many years yet. Of course the market is entitled to hold back and say "prove it" to TC, but I just cannot believe that this successdul oilman would waste his time on any misplaced projects. I'm no ramper but it just seems common sense to me to suggest that Parkmead is a good bet for the medium to long term. I don't really have much to add to these thoughts, so I doubt I shall be posting again and therfore I take this opportunity to wish all my fellow shareholders here many happy returns on their investment.
10k share top up , that's probably me done now. Sit back, cross my fingers and hope things finally fall into place.
Happy new year from me too!
Hi john, happy new year!
I’ve also a large holding in PMG going back since inception.
I believe we could now be at the beginning of the game changing news that will transform PMG.
News on renewables(wind farm)
Platypus FID
Skerryvore 3D Seismic news
GPA must be news this year
Europe gas price is now at a year high(profits will be great in results)
2021 could be our year!
Also take a look at TRIN
GLA
No recommendations from me, I am mainly putting money into non-listed companies at the moment.
I do buy in to the roaring 20's idea though. Consumer debt is down this year, and there will be opportunities once the lockdowns end to innovate and adapt to a slightly different way of life. Big guess at the moment on when this will all come together and who the winners and losers will be.
I see oil as a winner in the medium term which is the reason I am still here.
Ok, markets re-open tomorrow.
I have a reasonable holding in PMG, well into 5 figures. Do I increase or simply sit on what I have? Clearly oils are out of fashion compared to other commodities such as those associated with renewables. Have those already re-valued and due a correction? Is PMG a contrarian play?
And talking about contrarian views, how about airlines and restaurant/ pub groups, maybe commercial property? Tp me these seem like a gamble on whether lockdowns are better or worse than people expect, rather than logical.
Be interested if anyone has views they would like to share.
https://www.telegraph.co.uk/investing/shares/profits-will-grow-seven-fold-oil-stocks-set-bumper-2021/?WT.mc_id=tmgliveapp_iosshare_AwbPlNFb5LsN
So much news due. TC will not have been sat doing nothing. He is a master strategist. PMG have some of the most exciting projects in the North Sea. When they come to fruition we will no longer be a minnow.
We will see. Feel fairly comfortable with my holding at an average of 29p.
We all hope that (eventually) Dana can be replicated.
Happy Christmas
I think it's great...we get a few knowledgeable posts every now and then and avoid all the BS. PMG has pretty solid assets that are a manageable size.
TC is a known quantity love him or hate him. He is doing this because he loves it and wants to build something. Not for an inflated pay packet like most AIM BODs.
not a lot of interest on this share which is a shame. Great little company lead by a very experienced CEO. Low cost producer, no debt, lots of interesting projects on the way. I can see quite a lot of upside
Agreed, it's attractive at this price. I sold some of my trading shares at recent high and starting to layer them back in now.
Main holding average is 37p so just keep a small pot that I trade for interest.
Bought another 5000 shares this afternoon as I think 35p relatively cheap.
Completely oversold on this 'news'. I strongly suspect that TC has always known this was an eventual possibility & has only used the NL gas to generate some cash whilst the other major issues come into play in the medium term.
Also good news on the farm sale will will strengthen the cash balance nicely
Cannot see this falling back to 30p but surprised to see such a sharp fall today so who knows.
Good to see a bit of a pull back today. I wouldn't mind accumulating a few more if the SP drops closer to 30p.
In fact, the Dutch gas price now is at the highest level since the beginning of 2019. We will see where it will go further.
The dutch assets are small in terms of SP upside but they have been hugely important to preserve cash and pay the bills, and even given PMG a nice little profit in years where the gas price is high.
Thank you for the responses below very useful. Given the amount of LNG shipped around the world I thought wrongly that US and EU gas prices would not be far apart but not so. I am content to hold PMG because I believe the north sea oil and gas industry not quite dead just yet and what fields we have an interest in may well prove to be more valuable in 2021 than is reflected in today's sp.
Again, the Dutch gas assets are really small change in the scheme of things with PMG. They bring in a little cashflow to keep the wheels rolling, but are really not critical to the valuation. GPA is the main value driver, with Platypus secondary.
Renewables may be a good marketing point but not worth much at all yet other than the land value.
Take a look at the risked NAV (page 9) here: https://www.parkmeadgroup.com/uploaded/research/FinnCap_Research_20.11.20201.pdf
Dutch natural gas prices are still very high (see Oilprice.com, oil price charts).
The amount of gas being burnt on the CCGT of our National Grid (GridWatch) is very high at present due to 'renewables' not performing well. May be the same in other northern European countries. Very little solar at this time of year and lack of wind over last 2 weeks is causing the gas turbines to be run at high levels.
So read across from the US should maybe be treated with caution.