The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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The main problems PMG face are:
The lunactic Net Zero "no more" North Sea Oil & Gas licences.
The lunatic UK windfall tax of 75%.
And lastly a degree of over promising or hype over the years from Tom Cross or supporters.
Parkmead has some of the 'lowest hanging fruit' in the North Sea. Skerryvore analogous to Pierce Field. Possibility of working with CNOOC and Scott field partnership in Moray Firth. New deals being worked that will be transformational. No other company with the upside potential of Parkmead. £158million of tax losses which has a very real and significant value. Dutch gas producing revenue and recent discoveries are significant. I wouldn't be surprised if Platypus comes back. Cal are close partners in lots of ways and are awash with cash
Individual well flow rates are publicly available with a lag of approx 3 months:
https://www.nlog.nl/datacenter/prodfigures/fields?lang=en
The next figures (July) will be released around 25/26 October.
PMG will not announce anything other than mid and final year figures.
There has been no news about how they might deal with higher condenate levels - remember that PMG have a minority stake (7.5% in Diever) and all is controlled and managed by Vermiiion). PMG can't announce anything without their consen).
(See my previous posts for production graphs etc).
Can someone help me along please in understanding how this works -
RNS 06/04 - New gas discovery comes on stream - please to announce commencement gas production LDS-01 - Tied to neighboring commercial - *GAS* - production infrastructure - Flow rates suggest material increase daily net production.
RNS 28/04 - Strong progress across Netherlands Assets -
Is this a problem? - Previously announced LDS-01 discovered commercial reserves experienced - *GAS Condensate (Liquid)* - Flow rates significantly higher than expected in addition to excellent dry gas production - Were we tied in to a local - *Dry Gas Facility*.
Once optimal operating regime has been identified (For dealing with condensate liquid?) well will be brought back online - expected to be late May 2023....
Have I misunderstood any of this as no expert and only have the RNS's to work from - Has anyone seen an update or accessed any information since that has clarified how we will be separating and dealing with the condensate high flow rates?
As always please DYOR as these are only my own observations ...
£158 mill of tax losses which can be used as buy in for new projects / jv
Davde - if he can pull something off then great. Acquisition still seems impossible without funding though. Bank finance is extremely difficult.
News soon.....
Yes. Sorry November 17. Very excited about future here. Like Dana at 50p . Just wish I could buy even more!
Are you not a month out ?
Just spoke with Tom Cross. Cant give details but the above is a quote. Very excited. Multiple company makers. Massive value. Looking forward to 17th October results
MRC agree that for Skerrymore that maybe the case but before that "The focus of the Board's acquisition criteria is to seek to add value to shareholders through revenue generation and through the utilisation of Parkmead's significant UK tax losses.". If this strategy works then raising funds will become easier if and when required. Time will tell if TC can pull the rabbit out of the hat or not!
Davde - problem is that significant investment is needed to grow and make the company profitable. The begging bowl needs to make an appearance IMhO.
roadster66
im not a ****** only a realist.......
The current MC of £14.5m does not reflect the underlying value of the producing gas and renewables revenues or their asset values, add cash in hand of circa £9m . The November results will hopefully provide a re-rate to reflect the true value of the producing assets at least. How much above that will require some positive news on proposed developments, otherwise due to sentiment for this share I cannot see more than mid 20's for sometime to come!
SOTB , It takes a special kind of person to celebrate the virtues of war in order to keep the share price up . ….and I won’t be attendingthe AGM …I’ll just consult last year’s minutes instead ….they’ll be identical . If I did attend I wouldn’t fail to recognise you…..you’d be the one with the brown tongue standing next to your Mr Tom .
0%.....sp rise this morning.
Not 20% or higher but zero.
Gas.....oil....renewables. more wars more energy needed .
It's never ending !
Hopefully then he'll behave....
Can't guarantee it!
Still here.....do you think this is my only investment?......haha
Castle....you're back at it, calm down!!
Offices empty
Brokers refusing shares now
What’s going on
Where has the money gone
Roadster66
Still here and not going any where fast and Doubt it !
See you AGM
SOTB / Buzzlightyear
Where are you now with your bon-mots of encouragement and false assurance. Why are you so quiet . Is it because this share has gone down the pan after a long slow death ?
Looks over here
All cash gone now, £22m
Left with 3 windmills
Cross taking £50k pm plus other ‘directors’
Dutch gas turned into a disaster, there will be costs attributed to PMG now
N Sea licences given away for free, or were they
Offices empty, no one taking calls
Shareholders scammed
Wonder what Stonehage were told
More concerned than I’ve ever been here. Hoping the winter months serve me well though.
Doyle
You are a hazard
You have cost investors thousands here with your inane ramblings
Back it up or shut the fk up you clown
Are you regulated to give such advice ?
Who are you