Member Info for JCF001

In the high gas environment worth remembering the impact last time we had a big price spike on the back of the ukraine situation announced in July 2022, I appreciate the price spice isnt yet near that of 2022 but as they are unhedged so should see good cash generation if this continues

XXX.investegate.co.uk/announcement/rns/parkmead-group-the---pmg/record-gas-revenues-and-accelerated-new-drilling/6873543

Parkmead's high-quality gas assets continue to perform well and, combined with the additional volumes resulting from the royalty deal agreed in 2021, the Group has benefited from continued high European gas prices. As a result, revenue for the year to 30 June 2022 from the Company's Dutch gas assets is now expected to exceed €14.5 million, ahead of the Board's expectations.

Gas prices have remained around €100/MWh following the invasion of Ukraine and prices have experienced a large upward spike since mid-June 2022. Parkmead expects gas prices could remain elevated for the short to medium term, due to tight gas supplies in Europe, therefore Parkmead has chosen to remain 100% unhedged.

The average netback for the year to 30 June 2022 from the Netherlands was approximately $120 per barrel of oil equivalent ("boe"), with a field operating cost of just US$8.6 per boe. Average gross production for the year across these assets was 21.8 million cubic feet per day ("MMscfd"), approximately 3,750 barrels of oil equivalent per day.

Saw this on the Serica board, has to be good news if this come to life for the £30m Skerryvore (27.45p per share) and £90m Fynn B (82.3p per share), PMG seems way undervalued based on the current cash balance being the market cap and it produces

Https://www.thetimes.com/article/89ad570b-44dd-4fdf-8700-ee6d2ed78048

"Labour looks to water down North Sea drilling ban

Ed Miliband is expected to allow exploration next to existing sites to increase fossil fuel production without breaking a manifesto pledge"

"Ed Miliband is poised to soften the government’s position on North Sea oil and gas exploration as he seeks to appease Labour’s union backers and see off the growing threat from Reform UK.

The energy secretary is under mounting pressure to dilute his party’s ban on new drilling to help to boost jobs and smooth the transition to renewables.

Several sources familiar with the discussions expect him to approve “tie-backs”, allowing new fields to be explored via adjacent existing sites.

This is expected to lead to the extraction of new reserves of fossil fuels and extend the lifespan of the North Sea oil and gas sector, which supports about 120,000 direct and indirect jobs in the UK. Earlier this year, Offshore Energies UK (OEUK), the industry trade body, warned that 1,000 jobs a month were being lost."

"OEUK believes there are another 7.3 billion barrels within reach of current infrastructure — making them viable as tiebacks. Energy lobbyists estimate this would deliver a £136 billion boost to the economy by the middle of the century."

"Offshore Energies UK commissioned research in June illustrating how to slow the basin’s decline by linking licensed discoveries via tie-backs to the North Sea’s 67 production facilities. Viable accumulations of oil and gas within 50km of current hubs could be developed “quickly and cleanly” through tie-backs, according to OEUK.

These pipelines, most of which are less than 25km-30km long, could play a role in “more cost-effective production”, the North Sea Transition Authority said in July."

I believe they will just lease this from the land owners for a revenue share

Interesting to see the value of wind Farms Changing hands today announced by Greencoat, if you back out the numbers on the 32.65% stake sold for £42.6m for a combined 51MW, 32.65% X 3.062787 =100%, 51MW valued at 100% is £42.6m X 3.062787= £130.4747M total project value, so per MW £130.4747/51.3 = £2.54m per MW.

If you apply to Glenskinnan Renewable Energy Park 98 MW this equates to £2.54m per MW x 98MW = Total value of the asset £249m, even if PMG had a 10% free carry thats £24.9m so well over 100% of the market cap

GREENCOAT UK WIND PLC

Sell-down of interests in three wind farms

Greencoat UK Wind PLC ("UKW" or "the Company") announces that it has entered agreements to partially dispose of three wind farms with a total value of £181 million, which will bring the cumulative value of disposals over the past year to £222 million.

The Company will today dispose of 32.65 per cent interests in each of Andershaw and Bishopthorpe onshore wind farms for a total of £42.6 million, which represents the NAV of the disposed interests as at 30 June 2025. Andershaw is a 35.0MW wind farm in Scotland, which UKW acquired in September 2021. Bishopthorpe is a 16.4MW wind farm in England, which UKW acquired in June 2017. The buyer is a private investor.

Whats interesting is that Glenskinnan Renewable Energy Park The proposals include total installed capacity of up to 98 megawatts (MW) of renewable energy generation.

What they drilling, from last announcement it all looks like 2026

With the Cash on hand Inventory for sale the recent capital raise and todays news SENX must be trading at c. cash £4m assuming they have spent a little since the Q3.

$2.48m VAT+$1.33m (Q3 cash)+ $1m inventory+$0.842 fund raise=$5.7m or £4.5m vs market cap of £3.63m.

The last presentation shows a target of 543 additional BOE per day from W-1, based on the last results av net back was $36 at USD/GBP 1.22 thats £16,022 profit per day or £5.8m annually, if you add that to the current daily production from Tunisia figure in the results (522BOE), you would have annualised production of 1065 boe per day and therefore £11,470,573 net back profit per year, on revenue of £31, 098,000 at c$80 BOE OIL

Thats a sweeping statement Adon30, what information do you have to back that up as it seem a little unfounded if you look at the numbers in any detail? also a GM and AGM are two different things and cant be compared on voting as they are independent eventsAGM happens every year clue is in the name a GM is where special approval is needed outside the pre approved process of allotting new shares

The stock is not fungible so there is no arbitrage opportunity, as you cant buy in the UK and Sell in Poland you may as well view them as two separate companies, so all the conversation around the difference in price is like comparing SENX with BP, pointless.

The only thing that will create value is increasing volumes and reducing Tax royalty in Romania