Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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PMG awarded 3 licences. Interesting that Athena Exploration where the much respected Colin Percival decamped to awarded 3.
https://www.ogauthority.co.uk/media/6673/32nd-round-winner-by-administrator.pdf
GLA.
Dana Petroleum is going back out to its supply chain for help plotting the way ahead for a UK North Sea development project.
The Aberdeen-headquartered firm initially hoped to reach a final investment decision (FID) on Platypus in the second quarter of this year.
But the Korean-owned company placed the timeline “under review” due to the Covid-19 pandemic and future gas price forecasts.
In an update on the Oil and Gas Authority’s project pathfinder portal, Dana said it would “re-engage” with suppliers before the end of September to “understand the viability of sanctioning” Platypus in mid-2021.
Dana and partner Parkmead Group intend to develop Platypus as a two-well, subsea tie-back to the Perenco-operated Cleeton platform in the Southern North Sea.
Having emptied my bottom drawer of PMG a while back, I couldn't resist sub 30p acquiring a moderate holding. I tend to be a LTH rather than a trader but this company just keeps paying the wages and trundles along. FPM still smarts as I was a LTH for over 10 years and their was a symbiotic relationship with PMG. I wonder if LBE are considering re entering the fray with Perth again - who knows. Good to see you still here Mary - I'm still in love with SQZ, whilst the SP has marked time, time will tell if she has further to run!!
Thankyou for your reply Mary.
I am more deep sea diving rather than being underwater!
I am not asking for advice but I would very much like to hear your views on the renewable energy scheme that seems will be in the mix at some point.
Many thanks,
BtB
Hi Bitethebull - I am fine. Firstly apologises, OGA link posted this morning is not new news and I have just seen another poster had already posted the details but for some reason I received it as an update this morning.
I would never advice anyone on their investments as we all have different time frames and risk/reward thresholds. As far as PMG is concerned I am underwater as I suspect yourself. Everything was against PMG - gas prices, oil price and even the planning permits in the Netherlands being harder to obtain. The positive is that all all areas are looking better so personally I see no reason to sell now but that is a personal view.
It is known Dana want to sell some of its portfolio so I wonder if they are committed to progressing Platypus with any speed. Perth can still move forward once the economic horizon appears clearer so I remain positive on that .
GLA
HI Mary, hope you are keeping well and thanks for the update.
PMG continues to give me a few headaches. I have a substantial amount invested which I know could be used much more profitably elsewhere.
However I still have the feeling that all will come good at some point but I just don't when.
It seems that a major renewable energy scheme maybe announced shortly but any oil and gas progress a somewhat longer timeframe.
I have not sold one share so is my faith in T.C. misplaced or am I still affected by Dana Syndrome?
Regards
BtB
https://itportal.ogauthority.co.uk/eng/fox/path/PATH_REPORTS/current-projects?PATH_PROJECT_ID=261
GLA
What gives ?
updated yesterday...new content added as below...another delay to project sanction....
The Platypus development is continuing the Define Stage of the Project and will assess the viability of progressing to a final investment decision recognising the challenges posed by the Coronavirus pandemic and future gas price forecasts. In light of this we will be re-engaging with the supply chain prior to the end of Q3 2020, in order to understand the viability of sanctioning the project in mid 2021
I would be more tempted to re invest based on what could be a huge renewable energy project on the land they purchased.
I am fully invested here and while the wait for something to happen has at times been painful I am still optimistic that T.C. will deliver.
GLA
BtB
Sold my stake a while back but tempted to reinvest as I am wondering what effect some big shale companies in the US going bust will have on natural gas supplies and prices this winter? Also quite interested in the fact this has not tanked despite selling.
Vermilion Energy has just released its 2Q 2020 financials (link below). Despise a low gas price environment in Netherlands and Europe in general, their gas production in Netherlands was stable and cash positive which means that PMG should have a positive operating cash flow in the 2 Half of 2020.
https://www.vermilionenergy.com/files/Q2_2020_MDA.pdf
That would make sense, i was surprised to see Cavendish selling as Paul Mumsford was a big fan of PMG and Tom Cross.
New investor on board.
News from Thainstone Mart is permission for three windmills at Tipperty has been passed !
I hadn't done the maths on volume of stock being dumped, and just noted the pattern of constant sells, but the sp never dropped, so maybe most of the stock was picked up. anyway, with no ii's currently on board, pressumably, the only investors left are the BOD, loyal TC followers from Dana and private investors like myself, who thought it seemed a good buy. I can't see any of the above selling out, so we just need some positive news, perth, platypus, and the sp should move quickly up, even on small volumes.
Note, a few years ago when FIL sold out and the sp sank, shortly after the sp recovered quickly, but that was at the same time that nexan approached pmg concerning the scott platform...we just need an update...
Presumably passed to Stonehage. Although there has been some consistent selling and a few big blocks. Notably one for ÂŁ60k last week. If been sold on market we should be free to move.
8.7% would be approx 10 million shares sold. Don't think that has been seen on visible market trades, with no change in the SP?
Something is afoot. I guess we'll see another TR-1 shortly.
I previously commented on 2nd may that someone was dumping large amounts of stock an this continued up until last week, with only a couple of large buys to offset the dumping... More or less everyday 30k of stock was being dumped somtimes as 2 x trades, within seconds of each trade.....perhaps this was cavendish....
Difficult to see how the sp will be lifted if no one is buying and the management reluctance to issue an update on any progress, which has been major and significant according to the last financials....
The farm
https://beta.companieshouse.gov.uk/company/SC510252/officers
This is where it is and the boundaries:
https://scotlis.ros.gov.uk/property-summary/KNC25807
And this is up towards the top of it:
https://www.google.com/maps/place/Strachan,+Banchory/@57.0068167,-2.509467,91m/data=!3m1!1e3!4m5!3m4!1s0x48842602cbc0353d:0xad7b7e74a6946144!8m2!3d57.019866!4d-2.541219
Which is the part built house. (Is that an indoor swimming pool to the left? :-) )
Anyway, it's close to Mid Hill, maybe 1km to the North West of the nearest turbine, and a little higher (in parts).
The land they are keeping is Pitreadie Farm itself (doh! surprise..!) - 1,240.52 acres. Strachan, Banchory.
Well that clarifies it, great find SOTB.
The current two turbine planning permission is for Tipperty and is being sold.
So all we gotta do now is find out where the 1240 acres they're keeping are, and whether there's any planning applications been submitted for them!
When they sell it we will get an RNS and perhaps an update re rest. As ever PMG requires patience! GLA