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Once its clear what value we can attribute to those losses (i.e. when deal announced)we will multibag. I think the thoughts are some late life producing assets. Need details of the deal, but big upside from this silly mcap
Dutch update well over due. Platypus and Skerryvore. Wont stay down here long. Think some kind of corporate activity. RTO / Asset purchase will come soon. Tom Cross no longer distracted by GPA. Hopefully his old magic comes back! Have a feeling it will. TTF https://tradingeconomics.com/commodity/eu-natural-gas
Selling here irrational capitulation. looking forward to ride back up. Apart from the obvious discount to NAV MCAP £14 mil
£20 mil cash
£4 mill land
£3.5 windfarm
£11.1 mill of revenue last 6 months accounts
We have
Skerryvore £157 million barrels
Dutch assets revenue generating and currently awaiting new flow rates at Drenthe. They has to close the production down to cope with significantly higher flow rates (Dutch Windfall Tax only applies to 2022 FY)
33rd Licensing round. Fully expect Platypus back with partner in place. CAshed up and ready to develop as it is a priority cluster. News on this is due before other licenses
Https://www.nstauthority.co.uk/media/8425/sns-cluster-rationale-accessible-7-october.pdf
No one knows this field better than Parkmead. Hope decision comes soon.
Good to hear some common sense on this board. Not sure what is going on re shorting or some capitulation, but it has to turn at some point irrational to sell here given assets and revenue generation.
Mcap £14 mill
Cash in bank 20 mill
Generated revenue of £11.1 million in 6 months to December 2022
Windfarm producing and inflation linked tarrif
Land valued at £4mill
50% of Skeeryvore with committed partners 157 million barrels
£150 mill of tax losses to offset
Plans for acquisitions
37% of company held by Tom Cross (26%) and Stonehage (11%) Stonehage recently added 3% to holdin following a meeting with TC
Dutch gas update overdue but we know flow rates much higehre and reservoir size much bigger than anticipated. Adapting the Garjip terminal to cope with additional flows.
Very valuable to a profitable producer. M&A activity likely.
A non-cash one-off impairment of approximately £33m relating to the Perth area will be recorded in the accounts to 30 June 2023. Parkmead remains in a very healthy cash position with ongoing valuable revenues from our producing Dutch gas fields and onshore UK wind turbines. Additionally, the Group has a very significant pool of UK tax losses, which total in excess of £150 million. This tax position means Parkmead is exceptionally well placed in respect of making potential acquisitions, at a time when UK oil and gas taxation for larger producers is at such high levels.
Https://tradingeconomics.com/commodity/eu-natural-gas
Would be a good time to announce Drenthe on line
Crazy price atm. TTF up 20% Hot summer and there will be a price squeeze even before winter and cold weather.
https://tradingeconomics.com/commodity/eu-natural-gas
Summer heat wave will see TTF recover. https://tradingeconomics.com/commodity/eu-natural-gas
Dutch RNS over due
Great to see the potential of Dutch assets. Have heard potential 12 more dutch projects / drills.
Sounds like flow rates and asset size must be pretty big if they have to shut in the terminal to handle the volume.
Cash generated will pay for development of Dutch and UK assets. Would be a great time to announce Platypus return.
The longest RNS by Tom by far. Maybe he has finally woken up.
All very positive
£1.28 next