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Nonsense. Haven't even started. Gas as a transition fuel will be in huge demand for next 10-20 years. Geopolitics and ethics will mean North Sea sees investment flowing in. Joint projects with majors will be commonplace. Parkmead very well positioned for instis and funds. Interesting to see a few ESG funds have been building stakes.
£60 mil mcapBonkers given we have:
£25 mil minimum cash
one operating wind farm worth £4 mil
One large area of land for windfarm and bio mass development value circa £4 mil as is
Dutch assets producing £1.5 mil per month
Drilling campaign planned on existing dutch licenses
Skerryvore (157 mil BOO in place) Partners Buffets Cal and Serica
Daavar (200 mill estimated BOO in place)
The Hub - 100% ours and the 8th biggest pre FID North Sea project https://www.energyvoice.com/oilandgas/north-sea/402302/new-north-sea-oil-projects-could-deliver-1-5bn-barrels/
Platypus - Tom has said we revisit this
Great R/R - Huge potential upside
Big Buyer recently
Tom Cross has 27% skin in game
Our big buyer recently has shown massive confidence. Must be someone close to TC or one of the funds presented to. Few million shares tucked away by someone. Feels like news is close. Our assets are worth multiples of the MCAP and we are sitting with a strong balance sheet. Has to move up at some point. Serica awash with cash too so might see some action on Skeeryvore. Buffet pumping cash into oil and gas so Cal cashed up too. That could also help Platypus not just Skerryvore. Daavar sitting in a pretty sweet spot with estimated 200 mil barrels oil in place. All good. Just need the fuse to be lit!! Come on Tom!
https://www.energyvoice.com/oilandgas/north-sea/402302/new-north-sea-oil-projects-could-deliver-1-5bn-barrels/
Every $10 increase in POO long term adds $150 million to the NAV
Skerryvore and Daavar 157million and 200 million barrels
Cheapest 2P reserves in North Sea. And we are sitting at this stupidly low price! Has to go at some point
There has been massive buying recently. the £280k buy the other day seems to be the end of it. Big buys been going on for months. I personally think we have had a big institutional buyer or HNWI. Surprised we havent had a TR1 as they seem to have bought a few million shares. Just need a few more buyers! they will probably arrive further up once we have some of that confirmation you are talking about. Should give us some serious momentum upwards once we get some news!
We are with Buffets Cal energy on Skerryvore and Platypus which TC has openly said we may revisit. Buffet pumping cash from tech into oil and gas. Bodes well. Could be an interesting week or two. Govt asking firms to outline their proposals for investment. Hub the 8th biggest pre FID project in North Sea.
This trade is so uncrowded. Book very tightly held by a few individuals and few PIs some with some substantial holdings from much higher up. The move with good news could be quite dramatic!
Parkmeads Dutch assets will be expedited. https://www.reuters.com/business/energy/netherlands-aims-end-use-russian-gas-by-end-year-2022-04-22/
UK - expect to see rewin of Platypus and expedited development. I know many think Platypus is gone but TC has stated that we may get a new license ‘in due course’. I am sure we get it back and JV with Cal. Could be very positive for Parkmead
Skerryvore and Hub farm ins? Serica awash with cash.
Daavar is a big prospect and near to Cambo. Currently processing seismic. May well be able to sell this now or once data room is complete
TC has been growing the hub for years. He is committed to it. CNOOC selling Scott. Could give a cheap (relatively) and quick RTM for the hub. CNOOC won’t want those decomm costs and we may get a great deal. If not FPSO still a possibility.
Think we see pounds rather than pence and hopefully soon.
https://t.co/IXDVOosBYJ
European gas set to go higher
Every $10 increase in POO ads $150mil to the NPV of the hub. TTF prices will increase too. Parkmead resources increasing in value massively. Too cheap atm https://www.zerohedge.com/markets/full-embargo-russian-oil-would-send-brent-185bbl-jpmorgan
Agreed. He has been hiding his time and been very sensible but now seems the time to make clear what the strategy is going forward. We have all the pieces of the puzzle but it would be good to have a better idea how they will all fit together. Very excited by the prospects here still. After 5 years of building a stake.
I get that. But not everyone could make the AGM. Christmas time a very busy time for most. TC or rather Parkmead and its shareholders would benefit from some free flow of comms. I have no doubt that we would be sitting significantly higher if shareholders felt that TC valued communication with them. Lots of stale bulls who might be happier holding if they had a little more understanding of what is going on.
I know some here have pretty big holdings. Myself included. Whilst I am very optimistic I understand and also feel the frustration myself. Why don’t we all email Tim across requesting an interview on Investor Meet Company? About time we got some input from the boss.