Member Info for Sonofthebull

BJoe
25 million at least sitting at Parkmeads disposal Chancellor encouraging banks to lend to oil and gas company's . Windfall legislation to be announced next month !

I'm sure Deirdre has conveyed yesterday's talks to all interested parties......

Cash coming in is suffice ! A Farm out for GPA will take weeks rather days to conclude collaboration is more than one entity !
Edinburgh drill still taking place let's hope it's a stonker and give Skerryvore respect !

He never posts when he's shorting !

There's still oil there not sure what quantity....I'm sure previously Parkmead were looking at drilling another well before the last oil slump.

Orcadian Energy are paying Royalties of 1% of there eventual production on there western assets in the North Sea.
Tom also mentioned Royalties when discussing GPA at 2021 AGM.....
Appears his thoughts are catching on !

Enquest is another UK continental shelf (UKCS) producer where Slater sees the potential for plans to change. A late May trading update continued to focus on deleveraging, “but clearly the windfall tax now creates a new incentive to increase capex instead”, the analyst suggests, given its planned $165mn spend this year is “relatively restrained”. “If Enquest elects not to alter its capex plans, then we would expect it to pay a relatively material windfall tax bill compared to some others,”

“Capex plans for 2022 are relatively light in the context of Serica’s production base,” says Daniel Slater, oil and gas research director at brokerage Arden Partners, while acknowledging that additional activities are being assessed. “Unless the company alters its capex plans, it is fair to expect it to have a material windfall tax liability, while nevertheless generating material cash,” he warns.
“The incentive to recycle UK production cash flows into new UK capex should provide a boost to companies looking for farm-out partners for development projects,” says Slater, which could boost pre-production UKCS players such as Jersey Oil & Gas (JOG), Orcadian Energy, Parkmead Group and Deltic Energy. Existing producers looking for capex spending opportunities outside their own portfolios may now find farm-in opportunities to projects such as Orcadian’s 79mn bl polymer flood Pilot or Parkmead’s sour oil Greater Perth Area developments more attractive, in Slater’s view.

“Capex plans for 2022 are relatively light in the context of Serica’s production base,” says Daniel Slater, oil and gas research director at brokerage Arden Partners, while acknowledging that additional activities are being assessed. “Unless the company alters its capex plans, it is fair to expect it to have a material windfall tax liability, while nevertheless generating material cash,” he warns.
“The incentive to recycle UK production cash flows into new UK capex should provide a boost to companies looking for farm-out partners for development projects,” says Slater, which could boost pre-production UKCS players such as Jersey Oil & Gas (JOG), Orcadian Energy, Parkmead Group and Deltic Energy. Existing producers looking for capex spending opportunities outside their own portfolios may now find farm-in opportunities to projects such as Orcadian’s 79mn bl polymer flood Pilot or Parkmead’s sour oil Greater Perth Area developments more attractive, in Slater’s view.

Why are you so negative Bob.....The current price for oil and Parkmeads assets are a no brainer.....If the price of oil collapses then every other oil company will also tank.
You have sold your stock so why are you on here constantly berating Parkmead !

Yes Bob of course the figures are wrong they are old not based
on the current days oil and gas prices for the foreseeable future.

Doubt very much for a take out.....The problem now is securing a rig because they are all in demand. Drill crews are becoming hard to obtain (big up lift in wages will secure there services )what with the downturn over the last 7 years....However money talks which means a premium on the rig day rate.
GPA got a good chance of a FID with a farm in partner before Parkmead announce appraisal at Skerryvore !
We are valued at £1.59 risked and are currentley way off base !
Boom sooner than later !

BJoe
The last 7-8 years have given everyone a chance to buy into a company that's currentley sitting on a potential 30 bagger.....

Roadster66
How you doing pal...Why so always bitter in your posts.....Parkmead are currentley in talks with farm in partners. Just like all the other oil and gas minnows in the North Sea....
Havnt you heard of the oil and gas super cycle ?

Kist are looking for projects

With almost €130 million of cash at our disposal, we have the financial strength, capital discipline and track record to grow the business and deliver shareholder value.

We remain guided by our founding principle to play a role in the energy transition and are evaluating several attractive opportunities in the North Sea. We continue to benefit from high gas prices in the Netherlands, and we are assessing opportunities in the UK that would enable us to take full advantage of the investment allowances implicit in the recently introduced UK Energy Profits Levy."

 

doyle172
Totally agree with your thoughts.....Kraken Bentley Bressay are heavy oil fields it's only recently that these projects have moved forward due to not much left to take out of the North Sea,plus technologies today have came on in leaps and bounds
Orcadian energy have heavy oil fields and are now trying to get over the line with a farm in......Hope they get it
Parkmead and GPA also fall into the last of the oil in the North Sea,it's coming out one way or another be it tie back to Scott or Piper B platforms or an FPSO.
West coast is the new frontier and we have a wildcat with Davaar.
Age won't stop Cross the guys a workaholic 61 years old
No where near drawing his pension !

Stop being a prat.......three years working life which means the pump could sit in the well for years before being activated....Three weeks is the period it would take to work over the well....
Argue all you want but no oil company would sit on there hands and do SFA under the current price of oil !

With Commercial partners interested this surely creates other oil companies taking a look at the bigger picture for a farm in !

If it breaks we fix it......windfall tax will keep the costs down
Would only take three weeks to repair add that on to the life term of the field.

What a load of bollacks.....They are ESP's with a three year working life you say. Still got two years left on the second pump which would take us through to 2024 which every one is currentley aware of !