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£1+ by Xmas
Should be an interesting start to the week for PMG.
Thanks for the link albeit old news now and hopefully it will not be long before we hear some more positive GPA news.
What I don't understand is the current PMG sp. Given 109m shares and say £30m in cash, that leaves 41p or £44m for all other assets. In the old days, a million barrels of proven reserves was worth say £2m in value, so GPA should be worth £110m as a prospect. So PMG looks significantly undervalued and that is using very basic back of the fag packet calculations..........!
Given the accumulation of cash, the previously risked 164p valuation also looks low as time passes.
I suspect the GPA play may bring out a hostile bid, although TC is in a strong position to frustrate such a bid given his holding and a some remaining loyal supporters.
We are due a licensing round for existing discoveries in Autumn. Platypus will come back to Parkmead I am sure. Problem is OGA officials and government too busy sitting on their arses working from home. Has slashed productivity just when we need it.
Just checked and TTF over 340 Euro. Just shows how serious the supply issue is for Europe. The Dutch will want to produce as much as possible. As will PMG. Expect update is imminent. High COS across two drills. Also expecting news on hub and Skerryvore. New Sub sea appointment bodes well and sure TC will get a deal across in current environment. Plenty of other left field news potential. Won’t take much for this to make a big move. Think we see start of the move up imminently Keep an eye on this https://tradingeconomics.com/commodity/eu-natural-gas
I sold £25k of my shares in this BOS for a mere £500 profit, held for several years and sick of the same old smite, glad I sold and can only see this going one way and the word is that is used by PMG a lot is relinquish!
No need for the sarcasm Darren !
…depends on which Xmas . I reckon Xmas 2042 …..maybe .
And we are down. Bargain territory again.
Spooky, I think I'm being stalked...someone replies almost immediately after every post I make, even at this time of night... The filtered list extends to several now, so not sure who it is...but irrespective...no, I don't believe it will be £1 by Christmas!
Bobert
It's coming home son !
PMG have produced nothing in the UK since Athena was shut in in January 2016 - six and a half years ago....six and a half years of nothing...
Their only production is NL gas, riding on the coattails of Vermilion, since August 2012...10 years ago. And for most of those 10 years they hid the fact that they only had 7.5% of the revenue, rather than the 15% Working Interest they broadcast to all.
And of course the three windmills which produce enough to pay half of Tom Cross' salary each year...
Good luck to the believers!
News today - NS gas production has surged by more than 25% in the last 6 mths.
Should be good news except that PMG seem to be doing everything to avoid getting in on the action or obtaining any benefit anywhere!
Lovely,ready for the £1 at Xmas to pay for the holiday, main stake still held for the £5-£10...........
PMG RNS from 2018:
"Southern North Sea
Parkmead has been awarded a new licence in the Southern Gas Basin. This is an area where the Company has a deep technical knowledge of exploration plays and is building a portfolio of targets. Parkmead has already had significant success in the Southern Gas Basin with the gas discovery at Platypus. The field was subsequently appraised with a horizontal well and flow tested at a rate of 27 MMscfd (approximately 4,600 boepd on an equivalent basis).
Blocks 47/10d & 48/6d (Parkmead 75% and operator) contain the Blackadder prospect and Teviot gas discovery. The Permian Rotliegendes Sandstone is the primary play fairway on the acreage and is proven productive by the numerous discoveries in the area including West Sole, Hyde and Amethyst. The proposed award contains a drill or drop work well. Parkmead’s co-venturer on this licence is Cluff Natural Resources."
Ho hum..
PMG's last remaining licence in the southern north sea is to be relinquished at the end of September.
"Deltic has been informed by the Operator, The Parkmead Group, that a farm out partner could not be found to assist in the maturation of the Blackadder prospect, and that a positive well investment decision could not be taken within the current licence timelines. There are a number of technical challenges with the Blackadder prospect, including inadequate seismic image quality associated with the legacy datasets and a structurally complex setting. The Operator has recommended that the licence be relinquished and the NSTA has been informed that the partnership intends to relinquish the licence at the end of the current licence term on 30 September. "
PMG's interests not nearby (thankfully), but an interesting article:
https://www.theguardian.com/world/2022/aug/22/fears-earthquakes-dutch-gas-field-energy-crisis
Bjoe get a grip man!
Chill your beans... when these are over a pound shortly you will be no where to be seen lol!!!
See you all at the £1 party.
GLA
Had a very quick look at a gas price graph versus PMG sp, there seems to be a time lag with PMG, so hopefully the sp will go up in the next few days as it it is currently behind the gas curve. DYOR.
Surreal !!
Huge increases in Gas prices & PMG SP drifts downwards in response ?
Really encouraging !
BJoe
Goodnight !
The boat was always waiting for the opportunity, - but has never managed to leave port.
Perhaps another (cracked) record needs to be changed!
Bobert
Change the record !