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And we are valued at cash in bank or there abouts.
Skerryvore the 'Well to Watch' 2024 155 million barrels and in Tom Cross' words analagous to Pierce!!!! DYOR into Pierce
https://www.energyvoice.com/oilandgas/north-sea/exploration-production/548401/skerryvore-the-uk-north-sea-well-to-watch-this-year/#:~:text=Analysts%20have%20named%20Parkmead%20Group's,one%20considered%20%E2%80%9Chigh%20impact%E2%80%9D.
https://www.energyvoice.com/oilandgas/north-sea/exploration-production/548401/skerryvore-the-uk-north-sea-well-to-watch-this-year/#:~:text=Analysts%20have%20named%20Parkmead%20Group's,one%20considered%20%E2%80%9Chigh%20impact%E2%80%9D.
Analysts have named Parkmead Group’s (AIM: PMG) Skerryvore as the UK North Sea well to watch.
Westwood Global and Wood Mackenzie have marked it as the most prospective exploration well going in 2024, and the only one considered “high impact”.
Parkmead is targeting 155 million barrels of oil equivalent of pre-drill resource from the project.
Drilling is expected to take place in Q4 of this year with opportunity “for a number of low-cost tie-back options”.
When the project was approved in 2022, Parkmead pointed nearby activity on Harbour Energy’s Talbot, Neo Energy’s Affleck project, and work at ConocoPhillips’ Tommeliten A, which sits close to Skerryvore over in the Norwegian sector.
Parkmead is operator with a 50% stake, partnered with Serica Energy (20%) and CalEnergy Limited (30%).
Eight wells targeted in 2024
“UK E&A activity is expected to be maintained in 2024,” said Westwood Global, which is targeting total pre-drill resources of 325 million barrels of oil equivalent.
“All wells are infrastructure-led exploration (ILX), with one well also considered high impact at Skerryvore, targeting pre-drill resources of 155 mmboe. There are 13 companies expected to participate in E&A drilling in 2024, with NEO Energy and Harbour Energy being the most active.”
Hey buzz
On our way back to reality,50p
This is Parkmead's year,I can feel it!!
As far as I'm aware SCOTT PARTNERSHIP are a professional marketing company and would have nothing to do with Scott platform please dyor.
Be there long before April !
34p target by April....
Don't think so ! 🤡
Scott Decomm plans underway
Directly under Scott. Scott has its own drill. Direct drill. Scott Partnership were in the phone to TC in October. East Gamma
KCA are going to drill it from the Scott platform is the news
In the North Sea.....
Yes little left for holders now
A hobby for cross and 50k each month
He’s a rogue and a nuisance to aim
Sale of East Gamma? At best it's 15mmbbbl recoverable if there's anything there at all... it's many years away were it to actually get to drilling stage. What do you value that at then? Another year's salary for TC at best? More likely no cash at all, and just a small % if it get's to produce some time in the distant future?
PMG won't get cash to drill Skerryvore, they will need to farmout a large % to an operator who will actually do something with it (if they fancy it). PMG don't have the capability as an operator or to drill a well (they have never drilled a well since they were formed). They may get a small % left as a free carry if they find a partner willing to take it on. But can't see anyone rushing to sign on the dotted line, it's been sitting there on PMG's desk for many many years already - it was first described by PMG as a 'drill-ready prospect' over 10 years ago...
P.s. A little surprised the SP didn't tick up a little on the LDS-1 flowrates, but then again maybe not, it's pocket money and there's little left in terms of real growth potential for the company.
A long and solid history of failed projects with much hype and no actual results (other than those managed by other companies) means there's little to interest investors now.
I didn't realize until recently that the stake PMG took in Faroe Petroleum many years ago (2007) was actually bought some years before TC came on board as CEO (2010).
Think we get a sale of East Gamma soon. To provide cash for Skerryvore. Big buy. Not sure why anyone would buy so big on a day like today. Could signal good news ahead
News soon!!
Skerryvore will more than likely be 2025 that I agree on.
Always have a tissue at hand SoB.
Would be happy for Tom Cross to be the new CEO of Serica if they cannae get Andrew Austin (Kistos), but he would have to put on his Dana pants!!!
No slight intended, truly hope for a win on Skerryvore
Dry your eyes !
Even when Faroes Petroleum dumped Perth/Lowlander sour oil, Parkmead kept ploughing ahead until realisation set in. Now we have a huff and puff adventure to keep TC and his lifestyle company playing.
Surely their are no LTH left here and its a playground for speculators and traders.
No longer a shareholder here as basiled in the 50's but Skerryvore holds my interest due to Serica - but expect it will be pushed back to 2025 by Parkmead. Here's hoping it still spuds in 2024 Q4.
Orcadian energy and Parkmead undervalued under statement.
Geothermal wells are working on the mainland
Roadster
How you doing my old friend......long time no hear ?
SOTB …..it’s actually “Oh ye of little faith “ . A misquote does detract from the value of the post and the ‘postee’ .
Oh ye have little faith
Encouraging, but let's see where the share price is at close of market?
PMG seems to have been stuck below 20p for a long time and as yet Tom Cross has not pulled a rabbit out of the hat.
Currently valued at 50 pence.