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‘We may even see the return of the Platypus license’ (from FinnCapp) No surprise to me but surprised they are communicating this in a formal way to their clients etc. Platypus return would be a winner. Get rid of Dana and then bring it back to UK control. Platypus very well progressed. I remember talking to someone close to the company who thought If expedited could get to production in 6 months.
Dutch drill update imminent imo. They must be very confident to take stake in Skerryvore up to 50%. Putting the cash flow to good use. Shows confidence to the market. Hopefully our 'news rich' period that we have been promised is finally coming! Woeful performance so far
Should send a message to market.
"Following consultation with its joint venture partners in Licence P.2400 (which encompasses the Skerryvore propsects) and having received approvals from the regulatory authorities, the Company is pleased to announce that it has reached agreement to increase its stake in the Skerryvore project from 30% to 50%. Parkmead will continue as Operator on the licence, which is testament to the efforts and capability of the Parkmead team. Skerryvore will be Parkmead's first operated exploration well. Parkmead's joint venture partners in the licence going forward will be Serica Energy (UK) Limited (20%) and CalEnergy (Gas) Limited (30%).
In addition, Parkmead is pleased to announce that it has received approval from the North Sea Transition Authority (NSTA) to enter the next phase of this licence with agreement to drill the high-impact Skerryvore prospects. The Company's geotechnical work programme has confirmed the considerable multi-interval potential of Skerryvore. The planned well will target the main stacked exploration prospects, at Mey and Chalk level, which studies indicate could contain 157 million barrels of oil equivalent ("MMBoe") in the P50, most likely case. The licence also contains additional prospectivity at the Ekofisk and Jurassic levels. A successful discovery could be tied into existing and planned infrastructure in the vicinity."
8 million barrels released from US SPR last week. Imagine what will happen to oil price when they stop releasing and then start refilling the SPR. It’s at its lowest for 35 years. Oil price been held back by this for some time. We need more supply to help control inflation. Hub would help. 8th largest North Sea project pre FID. proven resource.
News flow is shocking. This leaves us vulnerable to share price decline and manipulation as investors get frustrated. I think we have some big holders here who are quite sophisticated traders, able to manipulate the SP very effectively. North Sea is once again an exciting area for focus. I am still confident that PMG will do very well but we do need news. We know some is coming wrt the Dutch Drills. Hopefully we get some kind of confirmation RNS pre spud in a few weeks. This could be next week.
I would also hope that we get some good news on Skerryvore and hope it will be expedited. Potential ground breaking news on GPA soon toon. It is the North Seas 8th biggest pre-FID project, is proven to flow and will meet environmental requirements. I also feel that Platypus will rear its head. Again a proven flowing resource and whilst Parkmead no longer hold the license, it is 'oven ready' with all development plans in place.
Lots of potential, as always. We just need news. Very frustrating
New two-well gas drilling campaign is ahead of schedule
A drilling rig has been secured for the upcoming 'LDS' two-well campaign in the Netherlands. We now expect to receive the rig by early Q4 2022, ahead of the schedule outlined in the interim results. The LDS wells will be drilled from the existing Diever well site and will target a combined mid-case gas-in-place of 37.2 billion cubic feet ("Bcf") in the prolific Rotliegendes reservoirs within this licence. The production tie-in period for these onshore targets is very short and, provided success at LDS, would result in significant additional revenue and cash flow for Parkmead.
All eyes will be on TTF tomorrow. PMG well under the radar of most and I am hopeful that we get some kind of pre drill announcement imminently. Will move quickly with a bit of volume.
We are due a licensing round for existing discoveries in Autumn. Platypus will come back to Parkmead I am sure. Problem is OGA officials and government too busy sitting on their arses working from home. Has slashed productivity just when we need it.
Just checked and TTF over 340 Euro. Just shows how serious the supply issue is for Europe. The Dutch will want to produce as much as possible. As will PMG. Expect update is imminent. High COS across two drills. Also expecting news on hub and Skerryvore. New Sub sea appointment bodes well and sure TC will get a deal across in current environment. Plenty of other left field news potential. Won’t take much for this to make a big move. Think we see start of the move up imminently Keep an eye on this https://tradingeconomics.com/commodity/eu-natural-gas
Lots of eyes will be on those dutch drills. Europe's energy crisis into winter will keep prices high. Parkmead very well positioned. Probably in the sights of Kistos or Serica given current mcap vs assets. Great time to buy.
https://tradingeconomics.com/commodity/eu-natural-gas
https://tradingeconomics.com/commodity/eu-natural-gas
Dutch drill update
Hub partner
Skerryvore plans
Windfarm
Platypus
All could land any time. Meanwhile cash building nicely.