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We see some action soon. There have been delays as so many moving parts changed due to Covid. TC hasn’t played it as well as he could have, but he is not known for risk taking. Everything is aligning for some serious action here. ‘Dana Mk 2 on steroids’ (he sold Dana for $1.6 billion!-) Platypus will come back and be expedited. GPA FID and farm in? Skerryvore drill. Wind farm. Other deals. I completely get the disappointment here and wish I had invested in Serica. But at current prices I put PMG above a Serica by a long way. Chance for exponential share price growth. The North Sea is a much safer bet now geo politically and Tom Cross has bided his time. Much less risky now than two years ago! Mid tier energy company in the making. Available at a phenomenally cheap price.
https://www.energyvoice.com/oilandgas/north-sea/402302/new-north-sea-oil-projects-could-deliver-1-5bn-barrels/
Probably nearer £30 mill in bank
£4mill owned farm land with plans for large scale wind farm
£3 mil owned wind farm with supply contracts
Producing Dutch gas assets. Committed for further drilling of Dutch licenses
Skerryvore 157 m barrels in place. Partnered with SQZ who are very cash rich
GPA hub 100% Parkmead and 8th biggest North Sea oil project available for development. Scott platform for sale. Tom Cross has bought platforms before for peanuts with Dana to great success. Repeat this and we become mid-tier producer very quickly
Platypus will come back as JV with Warren Buffets Cal Energy. 15000 boepd Expect this to be expedited
Shetland fields sitting in Middle of Cambo. Could hopefully sell this.
CEO with 27% of company
Tightly held book so can move very quickly.
All macros aligning. Oil price over $110 and that is with China in lockdown. Think what happens when they open up.
Dutch TTF steady above €100 per therm. This seems unlikely to decrease due to geopolitical and structural supply side issues.
Massive value on offer at £60 mil Mcap. An absolute tiddler that will become a whale.
This was a structural supply / investment issue before Ukraine war. High prices won’t go away even if there is a recession. PMG very well positioned with oil and gas assets that simply have been attributed no value in the balance sheet. Dream time to invest if you are sitting on the fence
CEO with 27% shares
CEO that took Dana to £1.6 billion sale
£25 mil cash
£4 mil land
£3mil Windfarm
Dutch assets producing €2 mil per month
Planned drill for Dutch gas
157 million barrels Skerryvore
100% ownership of Perth hub the 8th largest pre FID oil project in North Sea
Mcap £60 mil
Huge upside. Low downside
https://www.energyvoice.com/oilandgas/north-sea/402302/new-north-sea-oil-projects-could-deliver-1-5bn-barrels/
Looking at the size of the recent buys we have a fund accumulating imo. Could be a private investor but I think the stakebuilding has being going on since pre Xmas. Likely a fund. Wouldn’t be surprised if they tr-1 soon
Ten new North Sea oil projects could deliver nearly 1.5 billion barrels
Key North Sea oil projects currently in the pre-final investment decision (FID) phase could deliver nearly 1.5 billion barrels, according to new research.
Consultancy Wood Mackenzie said further M&A activity will be required to unlock all opportunities.
In a new report titled ‘How much more oil and gas can the UK North Sea produce?’, the Verisk-backed analysts suggest that indigenous oil and gas still has “a major role to play” in the UK’s energy mix, pointing to more than 1.4 billion barrels of liquids held in pre-FID projects.
The pack is led by the sizable – and controversial – Rosebank and Cambo fields west of Shetland, but also includes the redevelopment of the Buchan field by Jersey Oil & Gas, Orcadian’s Pilot and Siccar Point’s Blackrock, among others.
However, given the size of many of the operators, further M&A activity will be needed to bring them to fruition, the report says.
Gas prospects are more limited, with around 65 billion cubic metres (bcm) of resources held in projects at the pre-FID stage.
Concentrated mainly around the central Graben area and mostly planned as tie-backs, key projects include Isabella, Glengorm and Jackdaw, among other smaller developments.
Five key levers
Looking to 2050, if all economically viable resources in the basin were to be produced, it could deliver 5 billion boe of new volumes and around £46 billion of investment, Wood Mackenzie said.
In all scenarios, UK demand for oil and gas continues to outstrip supply, though there are wide ranges of uncertainty. Production in 2030 could be between 0.6-1.6 million boepd, Wood Mackenzie reports, while the range in forecast demand is even greater.
The group’s research director for North Sea upstream, Neivan Boroujerdi, said: “By 2050, UK North Sea production will have largely ceased. But even in a net zero scenario, demand will persist with emissions being offset by carbon capture and storage (CCS) and nature-based solutions.
“Current levels of production could be maintained for the next decade, underpinning energy security and safeguarding jobs. But the UK is sorely lacking in gas and will be heavily reliant on imports in all scenarios.”
The report sets out five levers that can be used to boost production. These include: execution, new greenfield projects, increasing recovery from existing assets, exploration and the development of contingent resource.
In the short term more than 200,000 barrels of oil equivalent per day (boepd) of new production is due onstream in the next two years, including from projects such as Penguins, Seagull and Tolmount.
Avoiding further delays to these key developments should remain the industry’s top priority, analysts said.
Other measures could shore up additional supplies; a 2% rise in uptime across the basin (currently at 80%), could deliver another 80,000 boepd per year, while greater export options could provide routes to market for the roug
Ten new North Sea oil projects could deliver nearly 1.5 billion barrels
Key North Sea oil projects currently in the pre-final investment decision (FID) phase could deliver nearly 1.5 billion barrels, according to new research.
Consultancy Wood Mackenzie said further M&A activity will be required to unlock all opportunities.
In a new report titled ‘How much more oil and gas can the UK North Sea produce?’, the Verisk-backed analysts suggest that indigenous oil and gas still has “a major role to play” in the UK’s energy mix, pointing to more than 1.4 billion barrels of liquids held in pre-FID projects.
The pack is led by the sizable – and controversial – Rosebank and Cambo fields west of Shetland, but also includes the redevelopment of the Buchan field by Jersey Oil & Gas, Orcadian’s Pilot and Siccar Point’s Blackrock, among others.
However, given the size of many of the operators, further M&A activity will be needed to bring them to fruition, the report says.
https://www.energyvoice.com/oilandgas/north-sea/402302/new-north-sea-oil-projects-could-deliver-1-5bn-barrels/
Could news for Perth be coming? £3
https://www.independent.co.uk/news/uk/politics/energy-wind-turbines-nuclear-johnson-b2049162.html?amp
Sound like planning likely to be relaxed. TC and team must have made some progress. There was talk of working with the Germans some time back. Should be fairly quick to get a PPA agreed and signed. Lease the windmills and all systems go. Think recent purchase of the small Windfarm has something to do with reducing entry barriers for a bigger farm. Access to Grid etc? Could be decent value with minimal impact on cash flow. Also helps align us with ESG investors for further North Sea oil and gas developments.
We have producing Dutch gas fields. Look at the TTF price https://www.tradingview.com/symbols/NYMEX-TTF1%21/
We have half our market cap in cash
We have land with plans for Windfarm value £5mil?
Wind farm value £3.5 mil generating revenue
We have a commitment to drill more Dutch gas assets
Imminent decision on Skerryvore drill 157 million barrels oil in place
Well developed major oil hub project with breakeven $35 Looking for farm ins as I type.
Potential to rewin Platypus license. Expected to flow at circa 150000 boe Pd. I am confident more to meet the eye here.
Blackadder gas field with Deltic
We have a CEO that has taken Dana from a similar position to sale for £1.6 billion. He has roughly 27% of shares
We have a macro environment that looks very bullish oil and gas. Biden has just sold a big chunk of US strategic reserve and will need to buy back. Does not solve the supply crisis
We have a market cap of £55million
We have massive upside with little downside risk
Energy policy better change swiftly. PMG well positioned. https://www.bbc.co.uk/news/business-60945248