Member Info for MaryMullins

Robs 12 - I can see what you mean and to be fair to Ryan Strougler he is quite good when errors are pointed out to him. I believe they have an obligation to keep the website accurate.Personally I do not bother any more as the website has always been a pigs ear. PMG have 7.5% of Diever and that equates to approx. 621 b.o.e. the other wells bring it up to around 950. Brakel was down for a while but that affected the results declared March 2018 and not March 2019. Could be a typo 650 b.o.e.? Any information I use for NL assets are from Vermilion reports, not right but all part and parcel of investing in PMG.

GLA.

Robs12- I would not worry about it, we know the Web page is a pigs ear. Just go by the accounts end of March issued.if these were wrong the accounts would have to be restated. The whole Web page wants re-working and all the errors corrected.
GLA.

Certainly a seller affecting the s.p. but it looks like there is a large buy order trying to get filled. Just my opinion.
GLA.

Good god TC will not be happy with this letting the shareholders know what they have. Must be a uphill struggle for RS and ARDA to win the argument that we are living in a Web age.
GLA.

It seems quite happy to take a breather here. All being equal formal approval of FEED should take us to the 80's. Famous last words !
GLA.

Re. O.G.A. above strategy and the estimate that there are 3.8 tcf of gas still to play for and as the Pharos well illustrates infrastructure is the key. The I.O.G. Thames pipeline must be a very valuable asset in the future. I hope that they get a chance to realise the worth before they are taken over.
In hindsight what a great vision by the BOD to have it in place already. Good luck to I.O.G. shareholders.
GLA.

Robs12 - I have found the relinquishment report by Hansa at last. It appears that it was not the discovery itself but the uncertainty of an off take route via West Sole. So in the event of a larger development Platypus/Possim etc. It could well reappear.
GLA.

Thanks robs 12. Pharos was on Hansa website until the buy out by Discovery Exploration. All the other assets appear to be transferred but not Pharos? and no relinquish report by Hansa?
I would not be at all surprised if it appears in future licensing awards as being Parkmead again and in the meantime save the licensing fees. With regards to Platypus , excuse my cynisim but I do not buy the "holding talks" as to possible export routes as it is that far behind development schedules it is embarrassing. Just a feeling but I believe a more extensive development is being planned which may surprise surprise involve Pharos, Platypus, Possum, Blackadder., Bob and the Teviot discovery. Time will tell. Thank you for the info.
GLA.

One of the many things that make me curious with Parkmead. I can find relinguish reports on Blackadder and Bob which Hansa Hydrocarbons compiled but not Pharos. When Hansa Hydrocarbons were sold Pharos was not one of the assets?
Parkmead must have carried out further research because they have successfully re-applied for Blackadder/Bob although the Hansa report concludes it only has a modest chance of success because of the compartment nature of the field which would make development very costly. So who has the licence for Pharos? I would very much appreciate it if other readers can help.
Parkmead keeps it assets under wraps when it suits. The website is hopelessly out of date with Pharos on the map but not under assets listed, nor for that matter is Blackadder/Bob, Davaar and Skerryvore to name a few. I keep a close watch on this company as, for me anyway, have a sizeable investment so I would like to believe that I have a accurate database of what they have under licence but Pharos? I do not know.
The above mentioned prospects are just some of the assets relinquished and then taken back on in slightly different forms. It almost appears that Parkmead do this to discourage other interest. I do not believe it is done just to reduce unwanted acreage under licence.
Any suggestions on Pharos would be much appreciated.
Rob 12, you do excellent research, thank you
GLA

It will be interesting when the drill or drop on Blackadder comes into play because PMG have 75% of this.
By end of next week we may have a better idea if the recent rise has been driven by Simon Thompson tip or buying into it at end of year ISA allowance. A rare good week nonetheless.
GLA.

From the RNS re. Disappointing drill results. Does this mean that it is more likely to be developed through GPA than if the results had been at the top end of expectations?
"It is JOG's view that the Verbier oil discovery remains commercially viable at 25 mmboe and we look forward to evaluating potential future development options, including the potential to develop the Verbier discovery as part of a wider area development plan."
Opinions appreciated.
GLA.

Patience as always required and we have needed buckets of it here. Just an opinion perhaps the target was I.O.G. and we can only sit on our hands to Tuesday to see RRE next move. I also believe that the Verbier well being put back could have significance. The drill will be finished soon but the test results are about mid May.
GLA.

And the crowd went wild.everything as expected.
GLA.

Pure speculation but if PMG are interested in the above they would wait until after 2nd. April when RRE have to decide to up their offer or walkway for six months. The Administrators of the financiers must be smiling , looking for a good premium on the finance to stop them becoming significant shareholders.
Julie Bravo. Nonsense I can assure you. Hopefully Ryan Strougler has better ways utilise his working hours.
GLA.

Just my opinion and I know we all have different timescales on our investments. Everyone including me must be disappointed at the slow progress of PMG. Against this we should appreciate that PMG have come through the downturn in the price of crude virtually unscathed, which did for many a small oilie (and some substantial) operators.
Hopefully we have moved on now and are seeing takeovers and opportunistic bids for companies with assets in the North Sea.
There is no doubt that the OGA have encouraged companies to collaborate more to develop the stranded assets, hence possible deals such as CNOC and PMG make so much sense for everyone and I believe we will see more collaboration similar to this in the future. I do think some investors are slightly too optimistic in how long the engineering of such projects take.
Looking to the Interims next week I would be pleasantly surprised if the GPA deal contains more than a "progress continues" on the GPA project. Revenue will be substantially up on last year so the SP should be stable after any initial upwards spike.
Monmur - my timescales are similar to yours and I remain fairly hopeful that looking back in three years time we all may be pleasantly surprised.
GLA.

Let us hope PMG is part of this revival.
https://www.ogauthority.co.uk/news-publications/publications/2019/projections-of-uk-oil-and-gas-production-and-expenditure-2018-report/
GLA

I wonder whether PMG will enter the fray? S.N.S. assets and infrastructure.
G.L.A.

Pherber, do I detect a note of frustration as to the details provided by PMG ?. I am sure many of us feel the same way. Cross has always operated this way and would rather pull a toe nail out than release an R.N.S.. I am afraid it comes as a package where PMG is involved and I do not expect him to change anytime soon.
To be fair though AUPEC and the finances are always in the accounts. I confidently predict at least one R.N.S. in March though.
GLA.

Are we at cross purposes here.? Yes the economics dept. was closed when AUPEC was administered by the university. It has been owned by PMG for a number of years now. They do still advice countries and companies on enhancing value of their assets as well as benchmarking and training external personnel.
For information Vermilion are doing a Webcast tomorrow re. 4th. Quarter results. It has occasionally in the past given further insight into progess ( or lack of it) of their NL assets. 4 p.m. U.K. time.
I will be looking for information on a further well at Geesberg and possible progress on the development of Ottoland.
GLA.

Both sour and heavy crude is selling at a premium at the moment, including Brent and WTI. The reason Nexen and not Shell is involved is that the former has the right infrastructure in place in the OMF Shell has not.. Nexen has the most experience in dealing with sour crude. They already deal with it on a daily basis in the North Sea.
Whether GPA does lead to development or not, we will have a good idea by year end.
GLA.