Member Info for doyle172

Hub developing well. Excellent progress on Skerryvore (157 million barrels!) Planned drilling of two Dutch assets. One 37.2 billion cubic ft and one 35.6 billion cubic ft. All close to current infrastructure with quick route to market and low cost / risk. Parkmead is clearly working on multiple fronts and this costs money so its good to have the increasing inflow of cash. I for one am glad to see that they are clearly spending as it shows that they are investing in our prospects. I would like some more detail though. Perhaps Tom Cross could do an interview on Investor Meet Company as I feel a bit of communication would go a long way here. This could easily be the next success story a la SQZ and Kistos but most wont know about it until its too late.

Loads of auto trades suggest to me this pullback is a little manufactured. Nearly all sells appear to be stop losses being triggered. Seen pull backs like this lots of times before good news. Not getting excited though

Test flowed at 6000 boepd. Expected production flow 15000. Boepd

£25 mil to develop Platypus. No problem

Tom Cross not Tim

Just that Tim Cross has said previously that Platypus may be revisited. Seems more likely given chance in stance of Government. UK should really be a big exporter to Europe. Good for balance of payments, good for jobs, good for tax revenue, good for the environment, good for growth generally. Expect supply side policy with North Sea focus. As well as a balance of green energy of course.

Parkmead have stated every $10 increase in price per barrel increases NAV of the hub by $150 million. Surely a similar argument used by Cross

Sorry if I suggested that. I simply meant that prices are likely to be significantly higher than those on which the estimate was made.

What oil price and gas price was that Fincapp estimate based on. 30 Euro TTF and $50 oil price? Now over 150 Euro and $120 boo

Could easily see govt backed loans or subsidies to expedite North Sea production. Very important supply side policy. We won’t get through this without it. We need the royalties and the tax revenue

£25 mil to develop Platypus. It’s been relinquished but TC has said it is not out of the picture. License was relinquished for some political reasons. Parkmead will get it back. Pmg and Dana have worked extensively in the plan. Oil and gas won’t want Dana as Chinese cos probably not in favour for energy independence. I for one expect Platypus to be expedited with PMG as operator .They have the cash to do it. And certainly would find no problems borrowing

People will look at the recent rise and thing Parkmead is now expensive. It’s not. It’s still cheap. Very cheap. Making good cash flow from Dutch assets. Planning to expand Dutch assets. I would imagine the planned drill will move forward given current macros. Platypus only ever on hold. This will be expedited and PMG are well along the route to development. License will come back soon imo. Hub looking more and more attractive as a big North Sea project with hundreds of millions of barrels oil. Wind farm purchase was a side door into something else imo. Current 2P reserves still not attributed any value at current Mcap. Upside really is eye watering. Oil and gas prices will settle but will stay higher. This is a structural supply issue that was obvious before Ukraine and is now obvious to even the most naive environmentalist.

TC has made it clear that Platypus is not gone for good at the AGM. Other focus is on Hub and Skerryvore and Dutch assets. Relinquished assets no longer part of the strategy. Retrenchment is sometimes necessary. Would t be surprised to see some of Dana’s Dutch assets on our target list. But for now he is focussing on the hub and Skerryvore. Seems very sensible. Frustrating times but big deals take a long time. Would rather be in than out given how cheap it is and how massive potential upside is. IMO we hear something re hub and Repsol soon

It's so frustrating. Been here years too with big holding. At least several ISAs full now!! Tough not to capitulate when others doing so well, but wider market looking good. Other O & G plays doing well, Things can happen very quickly. Look at Kistos! Serica etc. Once there is activity the move will be a good one. Stale bulls will exit and sentiment will be overwhelmingly positive and hopefully we can forget these long disappointing days. It will happen.

Cash balances of £23.4 million as at 30 June 2021. Much higher now. Producing 5,212 boepd (15% to PMG - unhedged must be £3mill per month additional). Land worth £4mill. 97mill 2P and 2C reserves. Mcap £41 mill. How does that work? Nuts

Repsol Sinopec GPA Partner? Read both of these. Join the dots! Parkmead holds a significant position in the prolific UK Moray Firth, an area which contains major North Sea oil fields such as Piper, Claymore and Tartan. Remember some of these fields have been tested and flow rates measured. Perth and Dolphin (Parkmead 100%) are two substantial Upper Jurassic Claymore sandstone accumulations that have tested 32-38 API oil at production rates of up to 6,000 bopd per well. We are well ahead of where investors think we are. General perception is that we just have licenses and have done nothing with them.

Have a look at this re Repsol as partner.

https://www.1stsom.com/sig
https://www.repsolsinopecuk.com/news/repsol-sinopec-forms-industry-alliance-to-maximise-recovery-of-north-sea-reserves

Farm in for GPA will come soon

Agreed. Something has to happen. Tom Cross is aligned here, dont forget that. He will not want to make a loss on his significant investment. At the moment this company has never been so cheap.
Take away the cash and land and you have an EV of around £8 million here. That's for producing dutch assets making nearly £2mill a month!! and 2P and 2C resources of nearly 100million barrels. Production rates may have been falling but those Dutch assets are highly prospective!!
Platypus seems to have gone, but think there is more to it and I can see it coming back to Parkmead one way or another.
Plus numerous other prospective resources.
This wont get cheaper. Start of a supercycle. Tom Cross will bring these projects in and when he does upside will be massive.

Brent over $87 per barrel. Dutch TTF still near 80Euro. Many predicting this is the start of a commodity supercycle. PMG balance sheet strengthening with cash balance increasing daily. over £30 mill by now. Increase in ownership of Dutch assets. Increase in 2P and 2C reserves. Hub looking more and more likely. Oil and Gas sector hotting up with hot money flowing in (just not to PMG yet) You will look back and wish you'd bought at this price in a month or so. As other plays reach higher valuations bargain hunters will abound and PMG will have its day. Renewables will provide ESG investors with the ability to invest here. Talk of takeover of Plexus (POS) Just rumours but if true would suggest a bit of vertical integration before a big engineering / sub sea project. Platypus will come back to us too. Supply side issues in gas need addressing for the sake of the economy.

This could become a takeover target at this price. SQZ, Kistos would make sense. Both have loads of cash and synergy with PMG projects. Still think there is more going on here and that the HUB and Skerryvore are progressing well. Both huge projects which would multiply the SP. Platypus wasnt a goer. Maybe to preserve cash for something else? Unfortunately we need a pick me up in terms of communication from Tom. Hopefully we get some kind of interview soon. HAve emailed him. Crazy to be back here given gas price and current cash flow. https://www.tradingview.com/symbols/NYMEX-TTF1%21/ Still have faith in Tom, but his poor comms is inconsiderate of shareholders, who deserve better. No way this would be at this price if he was more outward facing. Still have confidence but must say I am quite angry at where the SP is now. Fear we could get snapped up and never receive fair value.