iii - comment17 Nov 2017 15:37
Results today from Parkmead (PMG) where increased production from the Diever West gas field to 39.3 million cubic feet a day gives positive cash flow and greater returns. Cash is a pleasing $34.3 million (�26 million) and Tom Cross is maintaining his usual strict discipline.
For right or for wrong he has increased his position in the Greater Perth area and activity covering pre-FEED and FEED is under way. I took PMG out of the bucket list in February at over 60p, as I couldnt see the market liking the play as much as others, at 37p today I still need convincing that they offer substantial value.