Investors' Room :: The Parkmead Group - MoneyAM - Free Share Prices, Stock Quotes, Charts, News, Level2

HARRYCAT - 08 Nov 2010 12:41

Chart.aspx?Provider=EODIntra&Code=PMG&Si

"Advises and invests in technology and energy based companies and currently has a 2.5% stake in North Sea oil and gas company Faroe Petroleum.."
http://www.parkmeadgroup.com/parkmeadgroup/

"Mr. Tom Cross has become Executive Chairman. Mr. Cross has been a non-executive director of the Group since October 2006. He will take up office as Executive Chairman on 9 November 2010.
Mr. Cross is founder and Chief Executive Officer of Dana Petroleum plc, which is currently being acquired by the Korea National Oil Corporation in a deal worth approximately $3 billion dollars. He is a Chartered Director and petroleum engineer with extensive energy sector experience, spanning projects in more than 20 countries. In 2005, Tom was elected Chairman of BRINDEX, the Association of British Independent Oil Companies and he continues in that role. He is a Fellow of the Institute of Directors and has served as a Chairman of the Society of Petroleum Engineers and an advisor to BBC Radio on oil and gas affairs."

The Board of Parkmead reports that Mr Brian Wilson and Mr Faysal Hamza are retiring from the Board as Non-Executive Directors with effect from 21 December 2010.

Mr Wilson and Mr Hamza have served Parkmead with distinction, through a period of significant change in the Group, culminating with the successful acquisition and integration of Aupec Limited. They will continue to play a role within the Group in an advisory capacity.

The Board is also pleased to announce the appointment of Mr Philip Dayer and Mr Ian Rawlinson as Non-Executive Directors of the Group with effect from 21 December 2010.

Philip Dayer was a Non-Executive Director of Dana Petroleum plc from 2006 until its recent sale. Mr Dayer has over 20 years of public market and corporate finance experience.
Ian Rawlinson was also until recently a Non-Executive Director of Dana Petroleum plc, serving from 2005 until its sale in 2010.

HARRYCAT - 08 Nov 2010 12:43 - 2 of 263

Broker comment today:
Parkmead�s shares have already shot up from 1.5p to 6.75p since Cross's appointment was announced, but the firm is still a fledgling worth �36m with an oil advisory business and a handful of investments including a 2.5pc stake in North Sea oil and gas company Faroe Petroleum.
Cross is undeterred. �The great thing about it is that the platform is much stronger than Dana was at the same stage, he says. We should be able to increase the value there and do deals pretty quickly.

They've advised the World Bank, the European Commission and governments from Angola to Australia and Norway to New Zealand as well as more than 50 major oil companies. We will now seek to build exploration and production assets into the company. Until now, it�s been advisory and about passive investments.�
Cross is looking at the North Sea again, along with West Africa and later the Middle East for Parkmead and remains a great enthusiast for British oil. �I think the North Sea is misunderstood by a lot of people,� he says. �There's huge potential still there.

HARRYCAT - 09 Nov 2010 10:38 - 3 of 263

StockMarketWire.com
Oil sector advisor Parkmead Group said Tom Cross has taken up the post of executive chairman today (November 9) following the retirement of Colin Goodall.

The group has also become a member of BRINDEX, the Association of British Independent Oil Exploration Companies.

Parkmead is looking to grow from the current investment and advisory business and build a portfolio of exploration and production assets.

halifax - 25 Nov 2010 13:31 - 4 of 263

going "full throttle up" news coming?

cynic - 25 Nov 2010 13:37 - 5 of 263

do your group (and you) rate this company then?
certainly heavy traffic here today, notable because the markets generally are very snoozy
poxy MM only stock though and only 4 x MM too

cynic - 25 Nov 2010 13:44 - 6 of 263

ah .... perhaps news due from FPM in which PMG hold 2.5% stake

HARRYCAT - 25 Nov 2010 14:46 - 7 of 263

A friend of mine follows this one closely, so will make a phone call & try & find some info. Not one I currently hold, but came to me highly recommended at 6p, hence the thread. Think I may have missed the boat!

cynic - 25 Nov 2010 15:15 - 8 of 263

my thoughts too

HARRYCAT - 28 Nov 2010 16:08 - 9 of 263

It seems the current strength in this stock is mainly based on the support for the dynamic Mr. Tom Cross and also the fact that PMG have a stake (currently 2.51%) in Faroe Petroleum (FPM). Otherwise it seems that it is probably over valued atm. Not forgetting that Cross is ex-Dana Petroleum though, he seems to carry a huge amount of kudos in the oil exploration industry. Once they start on the aquisition trail though, I would expect this to do well. Worth watching & trading the peaks & troughs, imo. However, talk of fund raising in the not too distant future could be an argument for 'wait & see'.

mitzy - 28 Nov 2010 18:21 - 10 of 263

Thanks for bringing this to my attention Harry.

HARRYCAT - 28 Nov 2010 18:58 - 11 of 263

No problem.
It is heavily 'discussed' on the iii website, though with varying degrees of credibility.

halifax - 21 Dec 2010 13:42 - 12 of 263

RNS appointment of two new directors formerly with Dana, we should hear of progress to become an E&O oilie fairly soon.

HARRYCAT - 23 Dec 2010 11:12 - 13 of 263

I think my 'Wait & see' strategy has been well & truly scuppered!!!

halifax - 23 Dec 2010 14:21 - 14 of 263

cynic going like a train!

cynic - 23 Dec 2010 14:23 - 15 of 263

it is indeed hali, but not entirely sure why to buy ...... one could argue too far too fast or conversely, follow the momentum

HARRYCAT - 23 Dec 2010 14:24 - 16 of 263

Mostly based on the expertise of 3 x ex-Dana Execs. Lets hope they can deliver.

cynic - 23 Dec 2010 14:31 - 17 of 263

so surely all hot air as it stands and/or little better than BPC?

HARRYCAT - 23 Dec 2010 14:34 - 18 of 263

Plus 2.5% of Faroe.
Word is, however, that these guys are some of the best in the business, so expectations are very high.

cynic - 23 Dec 2010 14:37 - 19 of 263

hmm ..... my gut feeling in that case is currently too far too fast ..... think i'll just watch for now and perhaps buy a few when they have a couple of bad days

HARRYCAT - 23 Dec 2010 18:19 - 20 of 263

StockMarketWire.com
Parkmead Group shares jumped a further 20% today. Over the last three days the share price of the oil and gas group has soared 78%,up from 10.25p.

Interest in the shares has been high ever since it was announced on 9 November 2010 that Tom Cross, the ex-boss of Dana Petroeleum would be taking over as Executive Chairman.

After 16 years, Aberdeen-based Dana Petroleum was sold to the Korea National Oil Corporation for 1.9bn and Tom Cross has already stated that he is looking to use Parkmead to build up a portfolio of exploration and production assets.

Mr Cross is believed to be pursuing two potential acquisitions and investors clearly believe that he can repeat the success he enjoyed with Dana and have jumped on the Parkmead bandwagon.

Two of his fellow former Dana Petreolum Directors, Philip Dayer and Ian Rawlinson, were brought on to the Board of Parkmead two days.

halifax - 23 Dec 2010 18:25 - 21 of 263

Harry we are out at 18.5p market cap at over 110m too rich for us.

mitzy - 25 Dec 2010 09:03 - 22 of 263

HARRYCAT - 26 Dec 2010 14:22 - 23 of 263

Shame, halifax. A bit too early as it happens, but very tricky to guage when this momentum will reverse.

HARRYCAT - 29 Dec 2010 10:04 - 24 of 263

Now 35p! Getting to be a crazy sp.

Holding in Company

"The Company was informed on 24 December 2010 that Mr D Mills is interested in 53,796,567 ordinary shares, representing 8.91% of the issued share capital and voting rights of the Company."

HARRYCAT - 29 Dec 2010 10:10 - 25 of 263

Article from the 22nd Dec '10

http://www.heraldscotland.com/mobile/business/corporate-sme/pair-join-parkmead-in-boardroom-shake-up-1.1075908

mitzy - 29 Dec 2010 10:35 - 26 of 263

Superb..

mitzy - 29 Dec 2010 10:35 - 27 of 263

Superb..

cynic - 29 Dec 2010 10:39 - 28 of 263

stupefying - yet seemingly on the back of nothing, not even rumour

HARRYCAT - 31 Dec 2010 11:20 - 29 of 263

Looks like the hype is over for now & the sp should settle back to a more realistic level, imo. I wonder how many more ex-Dana staff they will employ.
At some point they are going to need cash for aquisitions, so future debt should then be reflected in the sp.

cynic - 31 Dec 2010 11:39 - 30 of 263

quite tempting to short, purely because, apart from a squitty 2.5% holding in FPM of unknown value, there is nothing much of value in the company, and certainly nothing to merit the tripling of sp in recent days

mitzy - 31 Dec 2010 11:44 - 31 of 263

My share of 2011.

moneyplus - 31 Dec 2010 17:20 - 32 of 263

Evil K and his followers are now shorting this one so be aware.

Chris Carson - 31 Dec 2010 17:34 - 33 of 263

There you go then BUY BUY BUY! :O)

mitzy - 31 Dec 2010 18:31 - 34 of 263

Thanks money I just heard..

lol Chris.

HARRYCAT - 04 Jan 2011 10:36 - 35 of 263

Looks like the shorters making good money this morning. I wonder what their target is. 14p?

cynic - 04 Jan 2011 10:40 - 36 of 263

bollocks - forgot to short this this morning

cynic - 06 Jan 2011 11:21 - 37 of 263

mitzy's "share of 2011" is, i am afraid to say, off to a very bad start ... having been 30p when (s)he made that choice (31/12), it has already lost about 22%

HARRYCAT - 06 Jan 2011 11:25 - 38 of 263

Nevertheless, I do think that it will come good, once their financing is sorted and they start on the aquisition trail. Like fund managers who move companies and take much of their customer base with them, Tom Cross seems to have a huge following in the industry and I think that many investors assume he has the everlasting Midas touch. Blind faith it may be, but the sp will move everytime he releases a RNS.

SEADOG - 06 Jan 2011 12:00 - 39 of 263

Cynic
I'm in @40 but agree with Harrycat. Its very long term SD

cynic - 06 Jan 2011 12:01 - 40 of 263

from what i can see, they have very few assets other than a 2.5% stake in Faroe ..... for sp to have rocketed just because they brought some experienced people on board, was always a total nonsense - it's PROFIT that talks!

HARRYCAT - 06 Jan 2011 12:08 - 41 of 263

True, but Faroe (FPM) price holding up reasonably well, which supports PMG.

cynic - 06 Jan 2011 12:11 - 42 of 263

at 10/15p maybe

mitzy - 06 Jan 2011 13:24 - 43 of 263

Tom Cross is a great guy I know him well.

cynic - 06 Jan 2011 13:36 - 44 of 263

so what

BAYLIS - 06 Jan 2011 13:37 - 45 of 263

Mitzy. ok TELL ME MORE, do you know linda too, cheers.

cynic - 06 Jan 2011 13:42 - 46 of 263

apparently he does a really good barbie every summer and has even learnt how to cook the sausages right the way through without cindering the outside - so he's got to be a diamond geezer

skinny - 06 Jan 2011 13:45 - 47 of 263

Tom Cross the $1m a day man as Parkmead shares soar 500%

cynic - 06 Jan 2011 13:49 - 48 of 263

would the success at Dana have something to do with the fact that company actually had very real assets?

BAYLIS - 06 Jan 2011 13:59 - 49 of 263

The oil baron turned a 1 million investment in Dana into a 1.8 billion company when it was recently sold to South Korea's state oil firm and investors have piled in to Parkmead in the hope he will deliver similar dramatic success.He received 661.986 in cash for AUPEC LTD. plus over 22 mill shares at 1 each.

cynic - 06 Jan 2011 14:04 - 50 of 263

i think several hundred thousand volunteered in 1914 too on the basis that they would be home by Christmas ....... Tom Cross can laugh all the way to the bank whether PMG is a success or not, and no one will be able to judge that for several years

HARRYCAT - 06 Jan 2011 14:08 - 51 of 263

Nice little bounce off the rising DMA (either would do) to establish a good support level.

cynic - 06 Jan 2011 14:10 - 52 of 263

support level????? .... at 17 or perhaps 14 if you ask me (which you didn't!)

markymar - 06 Jan 2011 14:16 - 53 of 263

Harry how much money do they have?

cynic - 06 Jan 2011 14:16 - 54 of 263

TC has lots and lots!

HARRYCAT - 06 Jan 2011 14:21 - 55 of 263

As at Sept '10 Cash and cash equivalents at end of year 291,869.00, Total Equity 8,510,609.00

cynic - 06 Jan 2011 14:23 - 56 of 263

and CEO draws 419k .... what a lucky chap!

markymar - 06 Jan 2011 14:30 - 57 of 263

Cheers Harry i think when i have a bit more time i will have a good read up........sounds like Tom Cross should take the helm of Desire.

cynic - 06 Jan 2011 14:32 - 58 of 263

at least he doesn't draw too much salary, though he and his wife hold 27/28% of the shares

HARRYCAT - 07 Jan 2011 12:15 - 59 of 263

Fast approaching some kind of support level I hope. Currently 17.5p mid. (Red 25 DMA on chart).

cynic - 07 Jan 2011 12:17 - 60 of 263

you said that yesterday, though yes i guess it's possible there'll be a dcb when 25 dma hit

HARRYCAT - 07 Jan 2011 12:36 - 61 of 263

Yep. I am working on the basis that if I say it often enough, it should come true! DCB on one of the DMA's must be something the chartists are expecting don't you think?

ptholden - 07 Jan 2011 12:38 - 62 of 263

I'd go for the 200MA :-)

cielo - 07 Jan 2011 16:07 - 63 of 263

Had the retracement (a very large one), now is time to go to the broker for some 20.75p to 21p to pay

Chart.aspx?Provider=Intra&Code=PMG&Size=

HARRYCAT - 07 Jan 2011 17:10 - 64 of 263

The Parkmead Group plc

Holding in Company

The Company has today been made aware that Nightwish Investment Limited no longer has a notifiable interest in the Company. (Nightwish originally held 30.3M shares)

cynic - 07 Jan 2011 17:32 - 65 of 263

whoever they may have been, but that's a big slab to dump and assuredly tells you what one big investor thinks of the current price

i wonder if they got shot of the whole 5%

cielo - 07 Jan 2011 17:42 - 66 of 263

IF SOMEONE WANTS TO POST INFO

DO SOME RESEARCH
Last news was 20.3M and 3.36% for Nightwish, they only had to go under 3% to declare >>>>>>> no longer has a notifiable interest

23 December 2010 The Parkmead group plc
Holding in Company

The Company has today been made aware that Nightwish Investment Limited is interested in 20,300,000 ordinary shares, representing 3.36% of the issued share capital and voting rights of the Company.

HARRYCAT - 07 Jan 2011 17:57 - 67 of 263

What I posted was absolutely accurate. They originally held 30.3m shares and no longer have a notifiable interest. That does not mean that they no longer have an interest. I concede my post could have held more detail.

cynic - 07 Jan 2011 18:04 - 68 of 263

they've still dumped an awful lot of stock - i.e. +/-about 12m shares

cielo - 07 Jan 2011 18:16 - 69 of 263

>>>>>>cynic

I do know why some posters like you to keep your mouth SHUT

>>>>>>>>>>> Nothing positive when you do not hold the stock

cielo - 07 Jan 2011 18:27 - 70 of 263

>>>>>they've still dumped an awful lot of stock - i.e. +/-about 12m shares

Some posters have " sawdust for brains " ( cynic )

if 20.3M is 3.36%

on moving to 2.99% and no need to declare is 2.23M shares not 12M

# sawdust for brains and the key of wisdom

cynic - 07 Jan 2011 18:55 - 71 of 263

try starting from 30.3m dozo!
sawdust for brains!

======

and next my little cielo blu, you'll be telling everyone here what a great deal everyone got in paying the CEO only 419k to front up this spiffing pipsqueak company, that isn't within a sniff of making a profit .... all blue sky crap - until proven otherwise!

ptholden - 07 Jan 2011 19:25 - 72 of 263

MasterRSI beginning to revert to type I see, wonder how long before he manages to get himself banned this time?

cielo - 09 Jan 2011 19:16 - 73 of 263

re>>> sawdust for brains

Keep your mouth shut for excuses - cynic -
Is well clear on my post 66 they had only 20.3M shares at the last count.

23 December 2010 The Parkmead group plc
Holding in Company

The Company has today been made aware that Nightwish Investment Limited is interested in 20,300,000 ordinary shares, representing 3.36% of the issued share capital and voting rights of the Company. 23 December 2010 The Parkmead group plc

cynic - 09 Jan 2011 19:44 - 74 of 263

you are such an abusive little twerp .... it says an awful lot about you and as peter says, you may well be MRSI's alter ego .... anyway, are you now saying that harry was lying (Nightwish originally held 30.3M shares)?

cielo - 09 Jan 2011 20:15 - 75 of 263

the last count is what it counts

Do not change the subjec ( are you now ..... ), you were wrong and very difficult to admited it seems,

it is just nature playing on your lots of >>> sawdust

cynic - 09 Jan 2011 22:10 - 76 of 263

oh yawn yawn yawn .... MRSI must be proud of you, but you should learn how to post some of those abusive cartoons of his too if you're going to follow his instructions properly .... anyway, in a rather obtuse manner, you now seem to admit that harry was telling the truth, which is where we came in

cielo - 09 Jan 2011 22:32 - 77 of 263

Have you seeing a THICK person on >>>> moneyam

I have >>>>> cynic , is trying to put words in my mouth

I have seeing PIGS flying,
YOU must be of those trying to catch them on the air.

KEEP TRYING

cielo - 09 Jan 2011 22:47 - 78 of 263

I had a look at the RNS from one week earlier from "Nightwish"

So I can now confirmed that >>> HARRICAT (saying 30.3M shares )- was not up to date with the last Holding from Nightwish

17 December 2010

The Parkmead Group plc
Holding in Company

The Company has today been made aware that Nightwish Investment Limited is interested in 24,149,700 ordinary shares, representing 4.00% of the issued share capital and voting rights of the Company.

cielo - 09 Jan 2011 23:52 - 79 of 263

It was not just under 3% as I said earlier ( it could be ), but 2.97% as said by the chairman yesterday below >>>>>>>>>>>

Parkmead shares fluctuate as Middle Eastern investor reduces stake
Ian McConnell, Business Editor - 8 Jan 2011

Shares in Aberdeen-based Parkmead Group, which is led by former Dana Petroleum chief executive Tom Cross, gyrated wildly yesterday as the company revealed one investor had reduced its stake.

The shares, which had slid sharply in recent sessions after a strong climb, were showing further significant losses for a while yesterday but they rebounded strongly later to finish up 1.5p on the day at 21p.

Parkmead told the stock market Nightwish Investments, described by Mr Cross as a Middle Eastern investment fund, no longer had a notifiable interest in the company.

Mr Cross emphasised to The Herald that Nightwish had only trimmed its stake slightly. He said Nightwish had reduced its holding from the 20.3 million shares or 3.36% notified on December 23 to 17.951 million shares or 2.97%. A notifiable interest is one which is greater than 3%. And he added: They are obviously sitting on a big profit. It is not surprising they took a little bit off the table.

Parkmead shares, which were trading around 1.6p before Mr Crosss appointment as executive chairman was announced in October, have risen as high as 39.75p since. Mr Cross who built Aberdeen-based Dana over 14 years and made about 57m from the companys 1.87 billion sale this autumn to the Korea National Oil Corporation plans to build a portfolio of oil assets in the North Sea and in north and west Africa at Parkmead.

http://www.heraldscotland.com/business/corporate-sme/parkmead-shares-fluctuate-as-middle-eastern-investor-reduces-stake-1.1078654

cynic - 10 Jan 2011 07:45 - 80 of 263

ah well, my little dosgsbottom, no matter what you number you choose to select at a given date, there is no question but that Nightwish USED to hold 30m shares and have now got rid of 12m of them - as i said ..... why would they do that if they thought the pot of gold was just on the horizon? ..... therefore, the next question is whether or not there is any good reason why PMG should currently be worth 20p let alone the 30p that it reached about a week ago? ..... in my opinion, a categoric no!

mitzy - 10 Jan 2011 08:11 - 81 of 263

Great start to the day.

cynic - 10 Jan 2011 08:33 - 82 of 263

it is indeed, but shall merely watch with interest as i truly do not think this is any better than a share for fast trading .... at the moment, all that looks to be supporting it is hype and PI greed

HARRYCAT - 10 Jan 2011 08:52 - 83 of 263

I would expect this bounce to run out of steam, as the fundamentals haven't changed at all. Good trading stock atm, but not really a hold imo.

cielo - 10 Jan 2011 09:14 - 84 of 263

cynic and HARRICAT

the pair of SODS are from the same family TREE, not idea of NOTHING ( both negatives yes) ( no and nothing )

cynic - 10 Jan 2011 09:16 - 85 of 263

with which bits of post 82 and 83 do you actually disagree and why? .... or is it that you cannot bear others having a different view from you - just like MRSI

cielo - 10 Jan 2011 09:17 - 86 of 263

Who is a clever boy?
not the old boy --- cynic -

cielo - 07 Jan 2011 16:07 - 63 of 84
Had the retracement (a very large one), now is time to go to the broker for some 20.75p to 21p to pay

Chart.aspx?Provider=Intra&Code=PMG&Size=

HARRYCAT - 10 Jan 2011 09:20 - 87 of 263

It's just a tradeable bounce, imo (unless another RNS is released). Take it or leave it. Try being less abusive and I will respond to your posts, otherwise I will just ignore you.

cielo - 10 Jan 2011 09:26 - 88 of 263

re - at the moment, all that looks to be supporting it is hype and PI greed at the moment, all that looks to be supporting it is hype and PI greed

Talking about greed ( you are full of it - cynic - ) now just jealousy, cos you are not holding
maybe you should look at the family tree

cielo - 10 Jan 2011 09:34 - 89 of 263

Mr. Tom Cross went further than the published RNS to give a detailed figure of Nightwish's holding.

It must mean something,....... like we are working on ABC and if you sell more ( Nightwish ) you will be missing on the potential upside

cynic - 10 Jan 2011 09:58 - 90 of 263

harry - leave "blue sky" to be abusive to whomever he wishes ..... as i said; he's like MRSI and cannot abide others with a different view .... patently i agree with you, though i probably shan't even try to trade this one ..... meanwhile, it's good to see XEL making us all bundles of dosh!

cielo - 11 Jan 2011 10:08 - 91 of 263

Early talk somewhere else >>>>>>>>>>> looking for a miracle

08:58 Finally in. czubaboy 1
was promised a miracle by trusted friend.....lets see if we are still friends come the end of the month!!!

09:03 Re: Finally in. rory uk
What was the miracle?

09:50 Re: Finally in. czubaboy
50% upside within 4 weeks! Amen! I had spare 10k so quite happy to leave it all year if it has to be and after seeing what he has put in i feel quite safe.
we shall see,

HARRYCAT - 12 Jan 2011 17:17 - 92 of 263

Receipt of Deferred Consideration
The Company reports that it has today been paid the full deferred cash consideration of 1,969,449.55 owed to it by Mr D Mills pursuant to the Company's disposal of Quayside Corporate Services Limited to Mr Mills in 2007.

Receipt of this payment satisfies in full the consideration due to Parkmead by Mr Mills.

mitzy - 13 Jan 2011 09:41 - 93 of 263

I'm no oiler far from it but this is looking a fabulous investment .

HARRYCAT - 16 Jan 2011 15:17 - 94 of 263

Thomas Cross - Executive Chairman
"The Board has established a Remuneration Committee whose Chairman is Tom Cross"
"The Board has established an Audit Committee, whose Chairman is Tom Cross."

Total control at the top!!!

cielo - 17 Jan 2011 13:05 - 95 of 263

Continuing with the rise, though from time to time MMs are trying to shake the market, but so far the bounce is consolidating

Chart.aspx?Provider=Intra&Code=pmg&Size=

cielo - 17 Jan 2011 15:58 - 96 of 263

Good rise this afternoon and back were it belong at this stage 25p+

cielo - 17 Jan 2011 16:13 - 97 of 263

A few days ago there was plenty of speculation about the deals ahead ......

Parkmead/Faroe talks? WSJ

EDIT: found rest of article - 'Observers speculated that KNOC might wish to sell its stake in Faroe, possibly to Dana founder Tom Cross's Parkmead Group PLC (PMG.LN), but Stewart said its new shareholder is supportive.'

Link: http://online.wsj.com/article/BT-CO-20110112-708485.html

mitzy - 17 Jan 2011 18:00 - 98 of 263

A superb day.

cynic - 18 Jan 2011 12:44 - 99 of 263

spifflicating even = unchanged!

HARRYCAT - 19 Jan 2011 12:11 - 100 of 263

Just as a reminder that PMG have a 2.51% stake in Faroe Petroleum:
"Faroe Petroleum - FPM LN
FPM has been awarded three new licences offshore Norway, adding to its total of 40 licences in Norway, the UK and West of Shetlands. The group has been awarded 30% of PL475 which contains the northern and southern extension of the Maria discovery. FPM has also been awarded 30% of PL590, also located north of Maria. Licence PL592, FPM 50%, is north of the Fogelberg discovery. Whilst there is unlikely to be short-term news in terms of drilling on these licences, they certainly add to the group's growing Norwegian portfolio. Biggest short-term news for FPM continues to be the drilling of the huge Lagavulin prospect West of Shetlands, which is due to complete next month. FPM has a 10% stake in the 500m barrel prospect, potentially worth around 90p/share. FPM has a great portfolio of exploration assets and promises to be one of the busiest E&Ps over the next 18 months - I'd still be buying it. "

cynic - 19 Jan 2011 13:37 - 101 of 263

and market says, so what and sp drifts lower again

mitzy - 21 Jan 2011 13:17 - 102 of 263

Were on our way..!

mitzy - 24 Jan 2011 08:21 - 103 of 263

up 10%.

HARRYCAT - 24 Jan 2011 09:47 - 104 of 263

Yep. Have got back in as looks like it's happy to settle at around 22/23p.
News needed now to make things happen.

cielo - 24 Jan 2011 13:17 - 105 of 263

ONE IN ONE OUT

I took advantage of the spike this morning to sell, over 20% profit on just over 2 weeks was too much to miss again. As is very volatile I thought that I will be able to get back in at a lower price.

But will have to wait and see if is true

Chart.aspx?Provider=EODIntra&Code=pmg&Si

mitzy - 11 Feb 2011 18:56 - 106 of 263

Been a while since anyone posted.

HARRYCAT - 12 Feb 2011 19:01 - 107 of 263

Sideways trading as predicted. News from T.C. required now to get this moving.

cielo - 17 Feb 2011 15:48 - 108 of 263

21.375p ( 21.25 / 21.50p )

Had a good retracement and on a small spread, looks ready for a move higher on a very good Level 2 of 3 v 1

Has gone under the lower Bollinger Band, so I bought in again

Chart.aspx?Provider=EODIntra&Code=pmg&Si

HARRYCAT - 17 Feb 2011 17:34 - 109 of 263

Me also at 22.2p

cielo - 17 Feb 2011 21:58 - 110 of 263

HARRYCAT

By the price you paid, it seems you bought early on the afternoon, I did close to the end of the day on the second move up from the 21 / 21.50p low of the day.

Hopping that the 61.8% fibonacci retracement works like the 78.6% earlier

p.php?pid=chartscreenshot&u=cD2ngqo%2FZ3

p.php?pid=chartscreenshot&u=cD2ngqo%2FZ3

HARRYCAT - 17 Feb 2011 22:02 - 111 of 263

My actual price was 0.219 (at 12.30), but my intention is to build up a stake in PMG. I will then hold that stake but buy other small amounts to trade the bounces. I still think that the next announcement from TC will get the sp going again.

cielo - 18 Feb 2011 13:14 - 112 of 263

20.50 / 21p - 0.75p

it looks ready for a change on the level 2

the low was 20 / 21p

cielo - 18 Feb 2011 15:36 - 113 of 263

Was that a seller or MMs wanting to bring down the share price further?

I top up with some more this time T+20

cielo - 18 Feb 2011 15:45 - 114 of 263

All MMs on the blue now on the level 2, as the bid goes to 21p with 4 MMs
offer at 22.50p with 3 MMs

signs of the bottom has been reached now.

Chart.aspx?Provider=Intra&Code=PMG&Size=

cielo - 18 Feb 2011 15:59 - 115 of 263

already 21.50 / 22.50p +0.50p

p.php?pid=chartscreenshot&u=BKQjhpFADYDY

HARRYCAT - 18 Feb 2011 16:14 - 116 of 263

Bought more @ 0.2042
Just hope TC comes up with the goods!

cielo - 25 Feb 2011 16:54 - 117 of 263

Today was showing symtoms of wanting to move up 22 / 23p +1.50p

HARRYCAT - 28 Feb 2011 10:06 - 118 of 263

Looks like 25p could be on the cards again.

HARRYCAT - 08 Mar 2011 09:30 - 119 of 263

Parkmead makes Key Appointments to Management Team

The Parkmead Group is pleased to announce a number of senior appointments to its oil and gas management team, which bring a wealth of additional experience and an exceptional track record in the E&P industry. These new appointments, coupled with those previously announced to the Board of Directors, position Parkmead with all the key skills required to build a significant new independent oil and gas company.

Parkmead's growth plans will be delivered through the combined knowledge and expertise of its team members, benefitting from their extensive oil and gas industry, and government, relationships which have been developed over many years in the upstream energy sector.

The recent appointments to the core team include Dr Colin Percival, Shona Kiloh, Julie Forsyth and Kathryn Ramsay, who have all joined from Dana Petroleum plc.

halifax - 08 Mar 2011 12:43 - 120 of 263

jobs for the boys and girls.

HARRYCAT - 24 Mar 2011 15:55 - 121 of 263

Another trading bounce at 21p hopefully.

HARRYCAT - 11 Apr 2011 16:40 - 122 of 263

From the Scottish Herald, 1st April 2011:

MARK WILLIAMSON

TOM Cross has said the surprise hike in the North Sea tax rate is bad news for the industry but should have no impact on his plans to develop another successful business in the area.

Mr Cross, who grew Dana Petroleum into a 1.8 billion business, echoed criticism of the Chancellors decision to increase the tax rate by 12 percentage points, saying it would weigh heavily on firms that produce oil and gas in the area.

This could see firms reducing investment in the North Sea.

I think its a real threat, Mr Cross told The Herald. A lot of fields that are being developed are marginal. It will slow down some projects that were ready to go.

Now executive chairman of Parkmead Group, Mr Cross also criticised George Osborne for saying that the tax rate might be reduced if oil prices fall without giving firm details.

This is a real threat . It will slow down some North Sea oil projects that were ready to go

This could make it extremely difficult for firms to assess investments with the degree of certainty that they need to sanction spending on fields that could take years to bring into production.

However, Mr Cross said the increase might help Parkmead in its attempts to build a portfolio of oil and gas assets. The tax change is expected to reduce the price of North Sea assets.

Parkmead is in talks about 13 potential acquisitions in the North Sea and West Africa. Three are at an advanced stage.

It will have a positive effect to us this year because we are focusing on acquisitions, said Mr Cross.

He said none of the parties that Parkmead is talking to had suggested withdrawing from the sale talks.

Mr Cross said, given the experience that he and staff at Parkmead had gained of operating in the North Sea, the company was confident it could still achieve the returns it is targeting. We are focusing on the North Sea first because its our patch.

Parkmead reduced operating losses by 34% to 530,000 in the six months to December from 800,000 in the first half of 2009.

cynic - 11 Apr 2011 17:29 - 123 of 263

i'll stand by my post 82 and wait to be happily proved wrong, but the odds are quite short against that

cynic - 20 Apr 2011 15:42 - 124 of 263

rather looks as though post 82 was prescient ..... shame cielo (mrsi) is not here to apologise!

JRM - 21 Apr 2011 13:53 - 125 of 263

They seem to be slipping, not sure what to do. My head says run while you've still more than trippled your money my heart says buy more. Luckily I've spent this weeks money!

cynic - 21 Apr 2011 14:33 - 126 of 263

overrule your heart at all costs and bank the money NOW!

HARRYCAT - 26 Apr 2011 19:45 - 127 of 263

If you are a trader, I would take profit. If an investor, then hold as should come good, imo.

cynic - 05 May 2011 13:02 - 128 of 263

if i was an investor, i hope i would have bitten the bullet by now!

mitzy - 12 May 2011 08:19 - 129 of 263

Its looking great today.

HARRYCAT - 12 May 2011 08:52 - 130 of 263

Due to this:
PARKMEAD AND DEO SIGN STRATEGIC PARTNERSHIP IN CENTRAL NORTH SEA

The Parkmead Group plc ("Parkmead") and DEO Petroleum U.K. Limited ("DEO") are pleased to announce the signing of a strategic alliance agreement pertaining to certain areas of the United Kingdom Central North Sea. The companies have agreed to pursue joint opportunities and collaborate together on a 50:50 basis in three specific areas within the UK Central North Sea. The collaboration arrangements in these areas will initially span the period through to December 2013. In addition to working together in the anticipated UKCS 27th Licensing Round, Parkmead and DEO are also looking at joint acquisition opportunities in the identified areas. The parties have also agreed, subject to the necessary regulatory consents, that during the application, bidding and exploration phases Parkmead will act as exploration operator for the partnership, and following commercial discovery DEO will assume the role of development operator.

Tom Cross, Executive Chairman of Parkmead commented:

"This strategic partnership is a win-win for both companies and we are very pleased to be working with DEO, whose core skills are entirely complementary to Parkmead's. Our combined teams share a deep understanding of the North Sea and this collaboration will allow both companies to create and accelerate significant value for our respective shareholders."

mitzy - 16 May 2011 08:20 - 131 of 263

I am confident after yeaterdays press.

HARRYCAT - 16 May 2011 12:30 - 132 of 263

Up nearly 20%!!! The market sees every bit of news as good. Hope it continues.

cynic - 26 May 2011 09:14 - 133 of 263

does it now? ..... on 16th may sp was about 18.5, yet even after this morning's little rise, sp is only 16.5 ...... i'll say it again, and be happy to have egg all over my face - pmg's sp is (currently) all held together by smoke and illusion

HARRYCAT - 26 May 2011 09:46 - 134 of 263

I would say 'hope and expectation' rather than 'smoke and illusion', but I agree that PMG have achieved little so far. But as Tom Cross virtually walks on water as far as the market is concerned, the theory is that if anyone can do it, he can.

cynic - 26 May 2011 09:50 - 135 of 263

i see little difference between "h+e" and "s+i" except the latter is perhaps a more realistic description especially if you are just relying on someone who allegedly walks on water

HARRYCAT - 31 May 2011 15:03 - 136 of 263

Exercise of Options
The Board announces that, following the exercise of options under the Group's share option schemes, 500,000 ordinary shares of 0.1 pence each in the Group have been issued and allotted.

Accordingly, application has been made for the 500,000 new ordinary shares to be admitted to trading on AIM and it is expected that admission will take place on 03 June 2011.

The new ordinary shares will rank pari passu with the existing shares of the Group. Following this allotment, the total issued share capital of Parkmead will be 609,601,823 ordinary shares.

HARRYCAT - 24 Aug 2011 08:29 - 137 of 263

FPM struck oil in Shetland. Would expect PMG sp to now reflect their interest in this find.

mitzy - 15 Oct 2011 12:47 - 138 of 263

Chart wise its getting off the lows.

Chart.aspx?Provider=EODIntra&Code=PMG&Si

HARRYCAT - 15 Oct 2011 19:27 - 139 of 263

Only news of an acquisition will get this going, imo. Even Faroe Pet hitting oil off Shetland didn't have much of an effect.

mitzy - 17 Oct 2011 08:35 - 140 of 263

I agree there Harry..

ot...have you seen NEW today could be the next Parkmead.

cynic - 17 Oct 2011 08:43 - 141 of 263

you mean NEW is another cardboard company?

mitzy - 17 Oct 2011 10:34 - 142 of 263

Yes I have 500 invested in NEW I have booked a holiday to go to the Valley of the Kings .

cynic - 17 Oct 2011 11:01 - 143 of 263

the necropolis in cairo may be as far as you get

mitzy - 17 Oct 2011 11:04 - 144 of 263

On the banks of the river nile.

HARRYCAT - 25 Oct 2011 13:10 - 145 of 263

StockMarketWire.com
Parkmead executive chairman Tom Cross has replaced chief executive Niall Doran who has stepped down with immediate effect.

The board thanked Doran for his efforts on behalf of the company over the last five years and wish him every success in his future endeavours.

gibby - 25 Oct 2011 13:28 - 146 of 263

hmmmmmmmmmmm - few more people step down like this and the sp will fly!!

HARRYCAT - 25 Oct 2011 13:41 - 147 of 263

He has 33,485,616 Exercisable Stock Options, so might not see a rise yet if the parting of the ways was not amicable.

mitzy - 26 Oct 2011 10:42 - 148 of 263

This is better.

HARRYCAT - 15 Nov 2011 09:19 - 149 of 263

Parkmead Acquires Stake in Platypus Gas Field and Possum Gas Prospect, with Near-Term Drilling

The Parkmead Group plc is pleased to announce that it has completed an agreement with XTO UK Ltd., a subsidiary of Exxon Mobil Corporation, to acquire a 15% interest in Blocks 48/1a, 47/5b and 48/1c in the UK Southern North Sea. These blocks contain the Platypus gas field and the Possum gas prospect.

This acquisition marks an important step in Parkmead's first stage of its development to become a significant new independent oil and gas company. The Parkmead technical and commercial teams have a long history and detailed knowledge of these assets and therefore these blocks are an ideal fit for the Group's growth strategy.

The Platypus Rotliegendes gas accumulation was discovered in 2010 by the Dana Petroleum plc operated 48/1a-5 well, which encountered 218 vertical feet of gas bearing sands. The Platypus gas field, which lies 18km north north west of the West Sole gas field and 15km west south west of the Babbage gas field, has the potential to contain up to 180 billion cubic feet of gas in place. The 48/1a-5 well was suspended by Dana Petroleum and its partners in 2010 for potential re entry and future use as a gas production well.

The Possum structure is a Rotliegendes gas prospect, immediately adjacent to the Platypus gas field, with estimated resources of approximately 100 billion cubic feet of gas in place.

The operator, Dana Petroleum, holds a 45% stake and has secured a rig to drill a well on the Platypus / Possum complex scheduled to commence in Q1 2012. This well will be drilled horizontally through the Rotliegendes gas reservoir to confirm deliverability and is expected to be retained for use as a gas producer.

HARRYCAT - 15 Nov 2011 09:21 - 150 of 263

The Parkmead Group plc is pleased to have announced the acquisition of a stake in the Platypus gas field and the Possum gas prospect (the "Acquisition") earlier today. This Acquisition is an important step in Parkmead's first stage of its development to become a significant new independent oil and gas company.

In addition, the Group is now pleased to announce the provision of a loan to Parkmead of £8 million by Tom Cross, Executive Chairman of the Group, and entities affiliated to him (the "Loan"). The Loan will be utilised to satisfy the consideration for the Acquisition and for the ongoing development of the assets acquired, including drilling. It will also be used for funding general working capital and future corporate purposes. The Loan will have a tenor of two years, with an interest rate of 2.5 per cent. above LIBOR and it will be secured by a standard floating charge provided by the Group.

As previously announced, since the appointment of a number of high calibre oil and gas industry executives to the Parkmead team, the Group has been actively evaluating opportunities to build a portfolio of oil and gas assets in proven and frontier oil and gas basins. As part of this process, the Parkmead Board has also been assessing the optimum funding structure based on the nature and size of these opportunities. The Group is currently debt free. Given the size of the Acquisition and the requirement to complete it as quickly and efficiently as possible prior to the upcoming appraisal drilling, the "Independent Directors" (being the entire Parkmead Board except for Tom Cross) have concluded that the Loan from Tom Cross and entities affiliated to him is clearly the best option for the Group and for shareholders as a whole. It enables Parkmead to conclude the Acquisition rapidly and also to finance the subsequent exploitation of the assets being acquired, as well as augment the Group's existing working capital facilities.

mitzy - 15 Nov 2011 09:42 - 151 of 263

Great news.

HARRYCAT - 25 Nov 2011 08:42 - 152 of 263

The Parkmead Group plc, a new independent oil and gas company, is pleased to report its preliminary results for the year ended 30 June 2011.

HIGHLIGHTS
* Proven oil and gas team recruited to deliver the Group's growth plans
* Acquisition of a strategic stake in the Platypus gas field and Possum gas prospect offering near term drilling and significant upside potential
* Joint venture created with DEO Petroleum plc, providing a strong and focused alliance for growth in the UK Central North Sea
* Revenue increased 58% to �3.75 million (2010: £2.36 million)
* Total Assets rose to �12.33 million at 30 June 2011 (£11.34 million at 30 June 2010)
* Cash balances of £1.3 million as at 30 June 2011
* The Group is now fully funded following the provision of a shareholder loan for £8 million
Parkmead's Executive Chairman, Tom Cross commented:
"The last year has been a period of strategic transformation for the Group. I am delighted to have become Parkmead's Executive Chairman and relish the opportunity to drive the business forward into an exciting new chapter of its development. 2011 has been a successful year and I believe we are now well positioned with the essential skills and resources to build a significant new independent oil and gas company.
I am pleased to report on Parkmead's improved operating capability for the year to 30 June 2011. The Group's Turnover and Gross Profit both increased substantially and Net Assets have also increased.
We remain focused on the pursuit of value-adding acquisitions, at both asset and corporate levels, in line with the Group's strategy. The Board is pleased to be able to report that our first asset transaction in our core target market was completed earlier this month. In addition, the Group is now fully funded for its forward programme of drilling activities and is well positioned to capitalise on further strategic opportunities."

HARRYCAT - 19 Dec 2011 09:14 - 153 of 263

StockMarketWire.com
The Parkmead Group plc is pleased to announce that it has signed an agreement with Sorgenia E&P (UK) Ltd. to acquire four stakes of 20% interest each in Blocks 47/4d, 47/5d, 47/10c and 48/6c in the UK Southern North Sea.

These four blocks contain the 47/10-8 gas discovery as well as the large Pharos gas prospect and several significant additional exploration targets. This acquisition follows Parkmead's recent deal which saw it enter the Platypus gas field and the Possum gas prospect, both nearby in the Southern Gas Basin.

It further highlights Parkmead's strategy of investing in North Sea fields and blocks where the Group's technical and commercial teams have an extensive working knowledge of the assets. The four blocks now being acquired, subject to the usual partner and regulatory approvals, are located in a prolific part of the Southern North Sea, between the producing Amethyst, Ravenspurn, West Sole and Hyde Fields.

HARRYCAT - 22 Feb 2012 12:53 - 154 of 263

Seems to be in a gentle upward trend. Lets hope it continues.

HARRYCAT - 27 Feb 2012 08:12 - 155 of 263

StockMarketWire.com
The Parkmead Group has completed the acquisition of four stakes of 20% interest each in Blocks 47/4d, 47/5d, 47/10c and 48/6c in the UK Southern North Sea from Sorgenia E&P (UK).

These four blocks contain the 47/10-8 gas discovery as well as the large Pharos gas prospect and several significant additional exploration targets.

HARRYCAT - 28 Feb 2012 11:57 - 156 of 263

From Barclays Stockbroking:
"This acquisition follows Parkmead's recent deal which saw it enter the Platypus gas field and the Possum gas prospect, both nearby in the Southern Gas Basin. It further highlights Parkmead's strategy of investing in North Sea fields and blocks where the Group's technical and commercial teams have an extensive working knowledge of the assets.

The four blocks now being acquired are located in a prolific part of the Southern North Sea, between the producing Amethyst, Ravenspurn, West Sole and Hyde Fields. Importantly, these licence areas are adjacent to Blocks 48/1a, 47/5b and 48/1c recently acquired by Parkmead and holding the Platypus field and the Possum prospect. Both Platypus and Possum are structural traps containing a Rotliegendes age reservoir, which is the dominant gas producing horizon in the Southern North Sea. The Pharos prospect is also a structural trap with the same Rotliegendes reservoir. The historical drilling success rate within this play has been very good. A discovery at Pharos could be jointly developed with the Platypus field, which is only some 14km to the north east of Pharos, and this would significantly increase the economic value of all three accumulations at Platypus, Possum and Pharos.

The operator, Dana Petroleum, holds a 50% stake and the joint venture group plans to drill the Pharos well in 2H 2012 or 1H 2013. The Pharos prospect is a large closure with a vertical relief of up to 600 ft, and an areal extent of up to 6,000 acres. The planned Pharos exploration well will be drilled in Block 47/5d, towards the boundary with 47/4d, on the north western end of the Pharos Structure. This structure has the potential to contain up to 500 billion cubic feet of gas in place."

HARRYCAT - 02 Mar 2012 08:38 - 157 of 263

Big push, now over 20p!

mitzy - 02 Mar 2012 08:52 - 158 of 263

Incredible

Chart.aspx?Provider=EODIntra&Code=PMG&Si

HARRYCAT - 05 Mar 2012 08:20 - 159 of 263

Now 25p!!!

cynic - 05 Mar 2012 08:22 - 160 of 263

beware pump/dump syndrome on this one .... my own view is that it is still just a cardboard company

HARRYCAT - 05 Mar 2012 08:45 - 161 of 263

One day, hopefully in my lifetime, it will be as big as DNX or TLW. Just a matter of taking advantage of the bounces at the moment, but am happy to have a core holding for the future.

HARRYCAT - 08 Mar 2012 16:18 - 162 of 263

StockMarketWire.com
Parkmead has raised £8.53m, gross, through a placing of 60,960,182 new ordinary shares at 14p apiece.

The proceeds of the Placing, when added to the existing resource available to the company, will be used to finance the capital commitments of the company.

HARRYCAT - 30 Mar 2012 08:09 - 163 of 263

Interim Results for the 6 month period ended 31 December 2011
The Parkmead Group plc. is pleased to report its interim results for the six month period ended 31 December 2011.

Highlights
· First UK North Sea acquisition completed in November 2011 acquiring stakes in the Platypus gas field and Possum gas prospect with near term appraisal drilling
· Second North Sea deal agreed in December 2011, acquiring stakes in the Pharos gas prospect and four UKCS gas basin blocks
· Total assets rose by 8% in the six month period to £13.4 million at 31 December 2011
· Third oil and gas deal agreed in March 2012 (post period end). This will achieve first production for Parkmead through the acquisition of a portfolio of Netherlands onshore assets comprising four producing gas fields and two oil fields
· The Group is now fully funded for its future programme of appraisal and drilling, following the provision of a shareholder loan facility for £8 million and a successful equity share placing raising £8.53 million in March 2012.

Tom Cross, Executive Chairman of Parkmead commented:
"I am delighted to report significant progress towards building a new independent oil and gas company. This period has seen the delivery of strong commercial activity for the Group with the acquisition of assets well known to the Parkmead team in the UK North Sea. As we enter the second half of the financial year we have continued this momentum with the acquisition of the Company's first producing assets in the Netherlands, a very important milestone for the Group. In addition, Parkmead's technical team is well advanced with a number of applications for the ongoing UKCS 27th Licensing Round.

Parkmead's financial performance reflects the Group's transition into a new independent exploration and production company from its heritage as an investment company. During 2011 the Group invested in recruiting an experienced and proven team of exploration and production specialists to deliver the Group's growth plans. This investment in the team together with the securing of an £8 million shareholder loan facility in November 2011, and the recent successful share placing raising a further £8.53 million in March 2012, positions the Group very well for future growth.

Parkmead is now entering an exciting phase of its development, with near term appraisal drilling at the Platypus gas field and exploration drilling at the Pharos gas prospect. In particular, the ENSCO 80 drilling rig is due to spud at the Platypus gas field, located in the Southern North Sea, in early April 2012. We look forward to updating our shareholders with news on these projects and with our progress towards further commercial transactions."

HARRYCAT - 17 Apr 2012 08:07 - 164 of 263

Platypus Appraisal Well Commences in UK Southern North Sea

The Parkmead Group plc is pleased to report that the Platypus gas field appraisal well has begun drilling in the UK Southern North Sea.

The Platypus gas field, located in Blocks 48/1a and 48/1c, lies just 18km north north west of the West Sole gas field and 15km west south west of the Babbage gas field. The Rotliegendes gas accumulation at Platypus was discovered in 2010 by the Dana Petroleum plc operated 48/1a-5 well, which encountered 218 vertical feet of gas bearing sands and has the potential to contain up to 180 billion cubic feet of gas in place.

The drilling operation is being undertaken by Dana Petroleum as operator using the ENSCO 80 drilling rig. This well will be drilled horizontally through the Rotliegendes gas reservoir to confirm deliverability and is expected to be suspended for reuse as a gas producer. The other joint venture partners are First Oil Expro Ltd and CalEnergy Gas Ltd.

HARRYCAT - 26 Apr 2012 15:31 - 165 of 263

StockMarketWire.com
Parkmead Group has issued 2,857,142 ordinary shares following the exercise of options under the group's share option schemes.

HARRYCAT - 28 May 2012 20:44 - 166 of 263

StockMarketWire.com
Parkmead has agreed a £12.7m takeover deal for DEO Petroleum.

Under the terms of the acquisition, shareholders will receive two Parkmead consideration shares for each DEO share held.

Based on the price of a Parkmead share of 14.75 pence, the acquisition values the entire issued and to be issued share capital of DEO at approximately £12.7m , and each DEO Share at 29.5 pence.

The consideration of 29.50 pence for each DEO share represents a premium of approximately 40.5% over the closing price of 21.00 pence per DEO Share on 25 May.

cynic - 28 May 2012 20:58 - 167 of 263

a truly spiffing cardboard company

HARRYCAT - 28 May 2012 21:23 - 168 of 263

That's probably what they said when the Wright brothers decided to go public with their idea. Now we can send 'flying machines' to the outer planets of our solar system! ;o)

markymar - 17 Jun 2012 13:47 - 169 of 263

There seems to have been a robbery getting DEO at the price they did.

DEO operates the Perth oilfield with a 52 per cent interest, giving it access to net recoverable reserves of 21.5 million barrels.

That equates to under a US$1 a barrel in the ground.

Hardley a cardboard company Cynic with Tom Cross at the stern grabbing bargains like that.

One to keep an eye on with weakness in the SP

cynic - 17 Jun 2012 16:35 - 170 of 263

mark - plenty of weakness already in sp .... perhaps the market is trying to you (all) something

rekirkham - 18 Jun 2012 16:04 - 171 of 263

Seems to me you are buying into Tom Cross - at Market capitalisation of £89m ?

I agree with Cynic - keep out and wait for company to establish itself with a steady profit stream and better valuation. Too much risk here for me !

HARRYCAT - 26 Jul 2012 09:59 - 172 of 263

Hopefully FPM's recent success will reflect a little here as PMG have a 2.5% stake in FPM.

chuckles - 26 Jul 2012 13:38 - 173 of 263

Like all the other chav comps that rocketed in value from a penny or two for no other reason that it became a ramper's paradise, PMG will return to previous levels in the next twelve months or so.

HARRYCAT - 26 Jul 2012 13:43 - 174 of 263

I hope your 'chav Co's.' are higher in the pecking order than cynic's 'spiv Co's.?'

HARRYCAT - 02 Aug 2012 08:15 - 175 of 263

Strong Results from Platypus Appraisal Well in UK Southern North Sea

The Parkmead Group is pleased to announce strong results from its Platypus gas appraisal well in the Southern North Sea, which recorded a test flow rate of 27mmscf per day on a 96/64" choke.

Well 48/1a-6 was spudded on 11 April 2012 with the Ensco 80 jack up drilling rig. The well reached a total measured depth of 14,175 feet on 19 June having successfully drilled a 3,100 foot horizontal section within the reservoir. A Drill Stem Test was successfully completed on 23 July and the well is being suspended for use as a future production well.

The Dana-operated Platypus gas field is located in Block 48/1a in the UK Southern North Sea. It was discovered in 2010, when the Dana-operated 48/1a-5 well encountered significant gas bearing Lower Leman Sandstone reservoir.

Parkmead holds a 15% interest in the Platypus gas field. Other partners in the venture are Dana Petroleum plc (Operator 59%), First Oil Expro Ltd (11%) and CalEnergy Gas Ltd (15%).

Tom Cross, Executive Chairman of Parkmead, commented:
"We are delighted to report successful and conclusive results from Parkmead's first well in the North Sea and will be working with our partners to move ahead with the development of the significant gas field at Platypus. This is a very exciting time for Parkmead as the Group's oil and gas portfolio continues to grow rapidly, giving Parkmead a balanced asset base of production, development, appraisal and exploration opportunities."

HARRYCAT - 08 Aug 2012 08:11 - 176 of 263

Parkmead Completes Acquisition of Portfolio of Netherlands Onshore Assets

Parkmead is pleased to report that it has completed the acquisition of a portfolio of Netherlands onshore assets from Dyas B.V. for a total consideration of €7.5 million, as previously announced on 8 March 2012, comprising interests in four producing gas fields and two oil fields. These Assets specifically comprise:

§ A 15 per cent interest in the Andel V Production Licence, including the two producing gas fields at Wijk en Aalburg and Brakel, as well as the Ottoland oil field development;

§ A 15 per cent interest in the Papekop Production Licence, including the Papekop oil field development; and

§ A 15 per cent interest in the Drenthe III Production Licence (excluding Vinkega) and the Drenthe IV Production Licence, which together include the two producing gas fields at Geesbrug and Grolloo.

The consideration for the Assets comprises an initial cash payment of €4.5 million for the acquisition of the interests and a contingent payment of €3 million, payable on the first commercial sale of oil from the Papekop field development.

HARRYCAT - 08 Aug 2012 12:49 - 177 of 263

Sanction of Scheme of Arrangement and Reduction of Capital

On 28 May 2012, the boards of Parkmead and DEO announced that they had reached agreement on the terms of a recommended acquisition of the entire issued and to be issued ordinary share capital of DEO by Parkmead (the "Acquisition"). It is intended that the Acquisition will be implemented by way of a Court sanctioned Scheme of Arrangement under Part 26 of the Companies Act 2006 (the "Scheme" or "Offer"). The Acquisition involves a reduction of capital of DEO under section 641 of the Companies Act 2006. The Scheme Circular, containing the terms and conditions of the Scheme, was posted to DEO Shareholders of 25 June 2012 and the Scheme was approved by the requisite majority of the holders of Scheme Shares on 18 July 2012.

Parkmead and DEO are pleased to confirm that the conditions set out in Part 3 of the Scheme Document have either been satisfied or waived. Parkmead and DEO are pleased to announce that the Court has today sanctioned the Scheme and confirmed the Reduction of Capital. It is expected that the Scheme will become effective tomorrow, 9 August 2012, and that the listing of the DEO Shares on AIM will be cancelled and that the DEO Shares will cease to be admitted to trading on the London Stock Exchange by no later than 7.00 am GMT on 9 August 2012.

HARRYCAT - 23 Oct 2012 11:01 - 178 of 263

15th Oct 2012

Spaniards East Well Begins Drilling in UK Central North Sea
Parkmead, the independent oil and gas company, is pleased to announce that the Spaniards East exploration well has commenced drilling, using the Will Phoenix semi-submersible drilling rig. The Spaniards East prospect is located on Block 15/21a, east of the Spaniards oil discovery and close to the producing Scott oil field and the Parkmead operated Perth oil development in the Central North Sea.

The Spaniards oil discovery was made in 1989 by well 15/21a-38z, which flowed at a rate of 2,660 barrels of oil per day on test. The Spaniards East well, which is targeting Upper Jurassic reservoirs, is expected to take around 40 days to drill and is aiming to test the down-dip oil reserves potential some 1.2 kilometres to the east of the Spaniards discovery well. It is not planned to test the well.

The drilling operations are being undertaken by Premier Oil on behalf of the joint venture group. The other joint venture partners are Serica Energy, Cairn Energy, Faroe Petroleum, Maersk Oil and Atlantic Petroleum. Parkmead has a free-carried interest of 12.624 per cent. in the Spaniards East well and therefore Parkmead will not be required to make any cash contribution to the dry-hole cost of this well.

HARRYCAT - 09 Jan 2013 10:25 - 179 of 263

I think news on above drilling may be imminent, based on the recent increase in the PMG & PMO sp's.

HARRYCAT - 11 Jan 2013 09:28 - 180 of 263

Admission of Placing & Conversion Shares
The Board of Parkmead is pleased to confirm that the 157,755,101 new Ordinary Shares being issued pursuant to the Placing and the issue of the Conversion Shares, announced on 18 December 2012 and following yesterday's General Meeting, have this morning been admitted to trading on AIM.

HARRYCAT - 12 Mar 2013 09:50 - 181 of 263

Exercise of Options
The Board announces that, following the exercise of options under the Group's share option schemes, 1,744,908 ordinary shares of 0.1 pence each in the Group have been issued and allotted.

Accordingly, application has been made for the 1,744,908 new ordinary shares to be admitted to trading on AIM and it is expected that admission will take place on 15 March 2013.

The new ordinary shares will rank pari passu with the existing shares of the Group. Following this allotment, the total issued share capital of Parkmead will be 921,139,016 ordinary shares

HARRYCAT - 28 Mar 2013 08:13 - 182 of 263

The Parkmead Group plc, an emerging independent oil and gas company, is pleased to report its interim results for the six months ended 31 December 2012.

Highlights
· Acquisition of DEO Petroleum plc completed in August 2012, providing Parkmead with the operatorship and a 52% working interest in the large Perth oil field area in the UK’s Central North Sea

· First production achieved in September 2012, following the completion of the acquisition of a portfolio of Netherlands onshore assets from Dyas B.V. providing cash flow to the Group

· Successful first UKCS appraisal well, at the Platypus gas field, in August 2012

· Major award of new licences in the UK Continental Shelf (UKCS) 27th Round in October 2012, all with Parkmead approved as operator. Overall, Parkmead gained stakes in 25 blocks across three core areas

· Revenue increased 48% to £1.97 million (H1 2011: £1.33 million)

· Total assets grew 199% to £40.0 million at 31 December 2012 (£13.4 million at end 2011)

· Net assets rose by 247% to £22.0 million at 31 December 2012 (£6.3 million at end 2011)

· Successful equity placing and debt for equity conversion, completed in January 2013, providing finance for growth of £19.925 million

Tom Cross, Executive Chairman of Parkmead commented:
"I am pleased to report excellent progress in the period to 31 December 2012. Parkmead has significantly increased its reserve base and also added production to the Group's portfolio, providing cash flow from E&P operations from September 2012 onwards. These key achievements have been delivered through the completion of two important acquisitions in the UK and Netherlands. Parkmead was also delighted to be awarded several new licences under the UKCS 27th Licensing Round, covering some 25 blocks across the UKCS. In addition, the Company achieved successful drilling results at its first appraisal well at the Platypus gas field in the UK Southern North Sea, providing a valuable near-term development opportunity.

In December 2012, the Group announced a successful equity placing and debt for equity conversion, which was completed the following month. We were very pleased and encouraged by the support that Parkmead received from a number of high quality institutional investors in the oversubscribed placing. This new financing has put Parkmead in a strong position, with funding in place to drive additional growth."

HARRYCAT - 23 May 2013 08:10 - 183 of 263

StockMarketWire.com
Parkmead Group is to make a recommended all-share offer for Lochard Energy, valuing the latter company at about £14.5 million.

Under the terms of the acquisition, scheme shareholders would be entitled to receive 0.385 Parkmead consideration shares for each scheme share held.

The £14.5 million valuation was based on the May 22 closing price of Parkmead shares, namely 12.625p.

HARRYCAT - 03 Jun 2013 13:57 - 184 of 263

StockMarketWire.com
The Parkmead Group offer for Lochard Energy will be rejected by Cornhill Capital which now represents 24.06% of the voting shares.

Last week Cornhill Capital indicated that a consortium it was representing totalling 20.37% of the voting shares in Lochard Energy (LHD) intended to vote 'no' to the offer.

And today (3 June) Cornhill said it had received unsolicited indications to vote 'no' to the PMG offer from shareholders representing another 11,015,466 or approximately 3.69%. Combined with the existing 20.37% the Cornhill consortium already represented, total indications now stand at 71,918,945 shares or 24.06%.

HARRYCAT - 21 Jun 2013 07:52 - 185 of 263

StockMarketWire.com
Parkmead Group said its offer for Lochard Energy fully reflects the value of that company, and that its offer of 0.385 Parkmead shares for each Lochard Energy share is final.

cynic - 21 Jun 2013 08:05 - 186 of 263

so one cardboard company offers some paper to another cardboard company ...... makes sense!

HARRYCAT - 21 Jun 2013 08:26 - 187 of 263

Oh ye of little faith! One day PMG will be a big player and then it will be a case of 'if only' from you! ;o)

HARRYCAT - 25 Jul 2013 16:16 - 188 of 263

StockMarketWire.com
The scheme of arrangement for Parkmead Group's recommended cash offer for Lochard Energy has become effective.

The High Court has sanctioned the scheme and confirmed the reduction of capital.

HARRYCAT - 01 Oct 2013 07:57 - 189 of 263

StockMarketWire.com
The Parkmead Group said the Pharos exploration well has started drilling in the UK Southern North Sea.

The Pharos gas prospect has the potential to contain up to 500 billion cubic feet of gas-in-place (86 million barrels on an oil equivalent basis) and is located in Blocks 47/4d, 47/5d and 47/10c.

The Pharos structure is located only 14km south west of Parkmead's Platypus gas field, which was discovered in 2010 and successfully appraised with a horizontal well in 2012.

Pharos is mapped as a much larger structure than Platypus and has the potential to contain almost three times more gas-in-place than the targeted amount at the successful Platypus discovery.

Shortie - 22 Oct 2013 09:57 - 190 of 263

Just bought in, core NAV of 16.8p and a further 4.2p of lower visability assets. 37% owned by the management. 20% working interest in Danas Pharos exploration target which has commenced drilling...

cynic - 22 Oct 2013 10:39 - 191 of 263

still looks like a cardboard company to me, probably run for the prime benefit of the directors

Oneway - 22 Oct 2013 22:05 - 192 of 263

This is a reasonable long term hold . Will most definitely pay if you give it time .....
Patients patients ....

HARRYCAT - 23 Oct 2013 07:58 - 193 of 263

Cynic is already a patient! Don't know how he got out!!! ;o)

cynic - 23 Oct 2013 08:38 - 194 of 263

thanks harry :-)

HARRYCAT - 15 Nov 2013 08:05 - 195 of 263

StockMarketWire.com
Parkmead Group widened its FY pretax loss to £5.3m, from £4.9m. Revenue was £4.1m, from £2.9m. "Parkmead has significantly increased its reserve base and also added production to the Group's portfolio, providing first cash flow from E&P operations," it said.

This trinity of achievements was delivered through the completion of three important acquisitions, securing two oil companies in the UK and a portfolio of gas and oil fields in the Netherlands.

Parkmead was also delighted to be awarded several new licences through the UK 27th Licensing Round, covering some 25 blocks across the UKCS. In addition, the Company delivered successful drilling results with its first appraisal well at the Platypus gas field in the UK Southern North Sea, providing a valuable near-term development opportunity.

"Parkmead has created a strong platform from which to become a key E&P player in the North Sea, and we look forward to updating shareholders as we continue to grow into 2014 and beyond."

cynic - 15 Nov 2013 12:56 - 196 of 263

why on earth would a cardboard company like this bother to go public? ...... because the founding directors see it as a good way to pocket a load of dosh and still hold onto a very large slab and continue to pay themselves handsomely, and probably far in excess of what is warranted

overall, what a pathetic company!
revenue of £4.1m ...... a total joke
our piddly company has revenues of several times that AND we consistently turn in a decent profit

Shortie - 15 Nov 2013 14:05 - 197 of 263

Maybe you should consider an IPO Cynic, for the record I sold out 25/10 for a small profit.

Oil Fund - 20 Nov 2013 00:11 - 198 of 263

Parkmead Discovers New Gas Field With Pharos Exploration Well

November 19, 2013

Parkmead said Tuesday that a new gas field has been discovered in the UK Southern North Sea by the Pharos exploration well.

The 47/5d-6 well, targeting the Pharos Prospect, was drilled on behalf of the co-venturers by Dana Petroleum using the Noble Lynda Bossler drilling rig. Gas was discovered in a Rotliegendes age sandstone reservoir. Extensive downhole data was gathered, including wireline logs, gas samples, reservoir pressures and substantial coring of the reservoir. Detailed evaluation of the discovery will be undertaken in order to determine the volume of gas initially in place (GIIP).

The discovery at Pharos is potentially valuable to Parkmead because, depending on the volume of gas in place, it could be jointly developed with the Platypus gas field, which is situated only 14km from the Pharos location. This would increase the value of the already economic development at Platypus.

The Platypus gas field was discovered in 2010 and it was successfully appraised by Parkmead and its co-venturers with a horizontal well in 2012. Platypus was flow tested at a rate of 27 million cubic feet of gas per day (approximately 4,600 barrels of oil per day on an equivalent basis).

Data obtained from the Pharos gas discovery will, when fully analysed, also provide a greater understanding of the remaining prospectivity in this area. This includes the Blackadder gas prospect in the adjacent block to the south of Pharos.

Parkmead holds a 20% working interest in the new discovery at Pharos. The other joint venture partners are Dana Petroleum (operator), Dyas Exploration UK Limited, MPX North Sea Limited and Hansa Hydrocarbons Limited.

Tom Cross, Executive Chairman of Parkmead, commented, “We are delighted to report that a discovery has been made at Pharos. This success could add significant further value to the Platypus gas field, strengthening Parkmead’s position in the UK Southern Gas Basin.”

“The Pharos discovery completes an excellent year of progress for Parkmead.”

HARRYCAT - 22 Nov 2013 16:36 - 199 of 263

StockMarketWire.com
Parkmead Group (LON:PMG) has scheduled its AGM for 16 December - and will ask investors to vote on a share consolidation.

The Company has made considerable progress over the past twelve to eighteen months. Net oil and gas production has grown by approximately 400 per cent and revenues have increased significantly to £4.1m (2012: £2.9m). To reinforce the trading and financial progress made by the Company during this period, the Directors believe that it would be appropriate and beneficial to both the Company and its shareholders to undertake a Share Consolidation.

The Board has therefore decided to seek Shareholder approval at the Annual General Meeting for the Share Consolidation based on every 15 Existing Ordinary Shares being consolidated into 1 New Ordinary Share.

The Board believes that the consolidation of share capital will result in a more appropriate number of shares in issue for a company of Parkmead's size and may also help to make the New Ordinary Shares more attractive to investors going forward.

As at 14 November 2013, the Company had 1,036,202,278 Existing Ordinary Shares in issue. With shares of low denominations, small absolute movements in the share price can represent large percentage movements resulting in high volatility.

The Share Consolidation is expected to assist in reducing the volatility in the Company's share price and enable a more consistent valuation of the Company. The Board also believes that the bid/offer spread on shares priced at low absolute levels can be disproportionate to the share price and therefore to the detriment of shareholders.

HARRYCAT - 04 Dec 2013 08:02 - 200 of 263

StockMarketWire.com
Parkmead Group has been provisionally awarded five additional UK blocks, through two new licences, in the second tranche of awards under the UKCS 27th Licensing Round, the results of which have been announced by the Energy Minister.

This newly awarded territory is all operated by Parkmead and is situated in the UK Southern North Sea.

This award follows on from Parkmead securing six new licences covering a total of 25 offshore blocks in the first tranche of awards under the 27th Licensing Round.

These blocks cover opportunities across the Central North Sea, Southern North Sea, West of Scotland and West of Shetland areas. Parkmead's experienced geoscience team has already begun various work programmes across these licences, with seismic and detailed mapping work underway.

As a result of the new licence awards, Parkmead's total number of oil and gas blocks across the UK and the Netherlands has increased to 53, with 39 of these operated by the Group.

The total award of 30 blocks spanning eight licences in the UK 27th Licensing Round has increased Parkmead's asset base and added to its growing and balanced portfolio. The Company continues to build its presence in the Southern North Sea.

Parkmead now holds large acreage positions with a number of exploration prospects indentified in addition to the Platypus gas field and the recent gas discovery at Pharos.

HARRYCAT - 30 Dec 2013 09:07 - 201 of 263

Parkmead Trebles its Oil Production from Athena Field
Parkmead is delighted to report that it has signed an agreement with EWE VERTRIEB GmbH ("EWE") to acquire a 20 per cent. interest in UK production licence P.1293 (Block 14/18b ALL) which contains the Athena oil field. Completion of the acquisition is subject to the usual partner and regulatory approvals.

Following the acquisition of Lochard Energy Group PLC, completed in July 2013, Parkmead already holds a 10 per cent. interest in the producing Athena oil field. This acquisition will therefore treble Parkmead's stake to 30 per cent.

Production at Athena averaged approximately 9,000 barrels of oil per day in Q2 2013. The field is currently producing at a reduced rate of approximately 7,500 barrels of oil per day, following some pump operational issues. There is a work programme planned for 2014 to increase production back up to normal levels. Parkmead's increased interest in the field will provide the Company with significant growth in production revenues and operating cash flows.

The total consideration for the interest is US$11.2 million, which will be satisfied through $8.0 million in cash and $3.2 million in new Parkmead Shares (the number of shares issued will be calculated based on the closing price of a Parkmead Share on the business day immediately prior to completion).

The acquisition of the additional interest in the Athena field fits perfectly into Parkmead's strategy to become a key E&P player in the North Sea. The Group has been awarded a total of 30 blocks spanning eight licences across the UK, through the 27th Licensing Round, including high potential areas West of Scotland and West of Shetlands. In addition to increasing its stake in Athena, the Group continues to build its presence in the Central and Southern North Sea. Parkmead operates the Greater Perth oil area, and has built extensive acreage with a number of exploration prospects to add to the Platypus gas field and the recent gas discovery at Pharos.

Tom Cross, Executive Chairman of Parkmead, commented,

"This is Parkmead's most important deal to date. Increasing our oil production three-fold from the Athena field will deliver major growth in the Company's revenue and cash flow."

Shortie - 09 Jan 2014 09:44 - 202 of 263

Gone long @269.53

required field - 13 Jan 2014 08:21 - 203 of 263

Up again.....sp rocketing...

cynic - 13 Jan 2014 08:26 - 204 of 263

who twisted my arm? .... prob shortie, in which case thank you (again), though i could only buy quite modestly on friday at the price i was looking for

HARRYCAT - 13 Jan 2014 09:30 - 205 of 263

Ah, you have been converted at last Mr C! Cardboard company indeed??? Humph! ;o)

cynic - 13 Jan 2014 09:36 - 206 of 263

plenty of cardboard companies progress - at least for a while :-)

Shortie - 13 Jan 2014 11:04 - 207 of 263

Shortie - 09 Jan 2014 17:11 - 13904 of 13923 (From another Thread)
I just post some of my positions and how I see it Cynic.

I know you think Parkmead is a cardboard company but you might want to look again at them. The Athena field should be very profitable because when it acquired Lochard Energy the company acquired tax losses which essentially shelter the Athena 30% interest from the UK North Sea 62% tax rate. Also on the Athena field capex has already essentially been paid for. With these considerations Athena should be very profitable for the company after operating costs... I think Parkmead will turn a profit this year now, rather than be forcasted to make a loss over the next two..

Was this the one that swayed you Cynic?

cynic - 13 Jan 2014 11:06 - 208 of 263

yes it was ..... i am far too lazy (incompetent) to carry out my own research and analyses, but there are a small handful of posters who seem to me to often talk sense rather than hype

Shortie - 13 Jan 2014 11:08 - 209 of 263

Well as long as you don't blame me if it all goes tits up..

cynic - 13 Jan 2014 11:20 - 210 of 263

never ever blame anyone except myself ..... responsibility for one's own actions etc

Shortie - 15 Jan 2014 12:50 - 211 of 263

off 16p or 5.5% today, large engulfing candle also...

cynic - 21 Jan 2014 10:37 - 212 of 263

is this cardboard to cardboard, dust to dust, ashes to ashes?

Shortie - 21 Jan 2014 10:45 - 213 of 263

No, just some profit takers who maybe don't understand oil to increase, forecast to cash positive... With the recent spike (which we bought on) no doubt there are some who will have sold and will buy back at support.

Shortie - 23 Jan 2014 16:59 - 214 of 263

Debating a further position....

HARRYCAT - 23 Jan 2014 22:31 - 215 of 263

FPM drilling (in which PMG have a small stake) so 220p on the cards imo, until news.

Shortie - 24 Jan 2014 10:08 - 216 of 263

Blimey Harry thats a little gloomy, I'm forecasting at the lower end PMG will turnover $60m this year. Athena 30% interest, produces 10,000 boepd at a rate of $85 (discounted). The Dutch assets providing an addition 50 boepd. As Athena is a working field there are no additional capex costs and I'm pretty sure the planned 2014 workover to increase production will not impact PMG either except for shutdown. We know they they acquired tax losses on the Lochard aquisition so their 30% interest in Athena should be sheilded from tax.

I'm making production 3050 boepd x 365 = 1,113,250 bpy
Less Workover shutdown Athena
3000 boepd x 124 (31days times 4months) = 372,000 bpy
This gives me 741,250 barrells produced for the year. At a rate of $85 (discounted, I think $100 is true) per barrell we're looking at turnover of $63,006,250 GBP/USD 1.66 GBP 37,955,572

For a company with a market cap of £179m at a sp of 259p I've got PMG trading at 4.72 times turnover, costs (need to look into further) aside this appears to be undervalued by far.

HARRYCAT - 24 Jan 2014 10:41 - 217 of 263

I can't argue with any of the figures you produced Shortie. I think this is a great little company, run by a guy with a proven record who knows exactly what he's doing. However it is thinly traded most of the time and the sp seems to be sentiment driven quite a lot of the time. I'm not totally convinced by the stock consolidation argument, though he presumably thinks that it will attract the institutional investors....though I think it also deters the retail punter, but this probably won't worry him too much. No divi mentioned at all yet, though investors are probably more interested in capital growth.
Lots of drilling to come and I think they still have a 2.5% stake in FPM, who also have a big drilling program this year after a dire 2013.

required field - 24 Jan 2014 10:43 - 218 of 263

Might as well buy FPM in that case....

Shortie - 24 Jan 2014 10:51 - 219 of 263

I'm neutral on Faroe, PMG on the other hand has plenty of assets to be getting on with and an income stream rather than investors to fund them. No divi but then no maiden profit as of yet... I'm not normally one to sit and follow a company but with the aggressive growth and Dana's Mr Cross who's showing he'd still hungry I have high expectations.

HARRYCAT - 28 Jan 2014 08:09 - 220 of 263

StockMarketWire.com
Parkmead, the UK and Netherlands focused independent oil and gas group, has raised about $66.0m via an oversubscribed placing of 15,686,275 new ordinary shares at 255p each.

The shares have been placed with certain institutional and other investors.

The proceeds, when added to the existing resources available to the Company, would be used to finance its on-going capital commitments and to explore certain opportunities, including:

- high-impact drilling to be accelerated at the Skerryvore oil prospect, with an exploration well being planned. Skerryvore is a multiple stacked target involving prospects at different geological levels. Skerryvore is one of the prospects identified from the UKCS 27th Licensing Round;

- Athena oil field workover operations are planned for 2014, which will require partner funding. The Directors anticipate that the workover operations will restore production to previous levels at Athena. Locations are also being discussed for a potential new production well on the Athena oil field to extend the life of the field;

- funding of further M&A activity. The recent acquisition of EWE's 20 per cent. interest in the Athena oil field demonstrates Parkmead's focus on value accretive deals. The Directors believe there are similar opportunities for Parkmead to target, and certainty of funding and balance sheet strength is key to success in negotiations;

- acceleration of Parkmead's exploration drilling schedule. High quality prospects exist within the portfolio, such as Skerryvore, Possum, Blackadder and Davaar. Parkmead's technical team made a number of significant discoveries whilst at Dana Petroleum plc with a high exploration strike rate. The award of 30 blocks spanning eight new licences in the UKCS 27th Licensing Round was an excellent result for the Company; and

- funding of work as Parkmead finalises its preparations for applications for new licences in the UKCS 28th Licensing Round, which opened for applications on 24 January 2014.

HARRYCAT - 13 Feb 2014 15:20 - 221 of 263

Result of General Meeting
The Board of Parkmead is pleased to announce that at the Company's General Meeting, held earlier today, all resolutions proposed were passed unanimously by shareholders.

The resolutions that were passed were specifically to authorise the issue of the 15,686,275 new Ordinary Shares being issued pursuant to the Placing, announced on 28 January 2014, which provides Parkmead with £40.0 million of financing.

Application has been made for the 15,686,275 Placing Shares to be admitted to trading on AIM. In addition, application has been made for 2,100,000 new Ordinary Shares to be admitted to trading on AIM, pursuant to the conversion by Tom Cross (Executive Chairman) of 2.1 million share appreciation rights ("SARS"), details of which were announced on 28 January 2014. Admission of both the Placing Shares and the new Ordinary Shares issued pursuant to the SARS conversion will take place at 08.00 a.m. on 14 February 2014.

Tom Cross, Executive Chairman of Parkmead, commented:
"The Board of Parkmead is delighted with the support that the Company has received from a number of high quality institutional investors in this oversubscribed fundraising. This important new funding has placed Parkmead in a very strong position with over US$66.0 million of funds, and enables the team at Parkmead to exploit the significant opportunities that exist within its current asset portfolio as well as taking advantage of corporate and M&A opportunities as they arise. The Board is looking forward to continuing the progress made over the last 12 months and considers the outlook for 2014, and beyond, to be very positive."

HARRYCAT - 28 Mar 2014 07:53 - 222 of 263

Interim Results for the six-month period ended 31 December 2013

Parkmead, the UK and Netherlands focused oil and gas group, is pleased to report its interim results for the six-month period ended 31 December 2013.

HIGHLIGHTS

Major Growth in Production. Significant Progress with Developments

· Completed the acquisition of Lochard Energy Group PLC, providing Parkmead with a substantial increase in production, revenue and cash flow

· Trebling Parkmead's oil production from the Athena oil field, by acquiring a further 20% interest from EWE VERTRIEB GmbH

· Continued progress with the Greater Perth Area. Joint development study ongoing with Faroe Petroleum plc covering the Perth, Lowlander and Dolphin oil fields

· Platypus Gas Field Development Plan (FDP), preparation underway

· Following the completion of the EWE acquisition, Parkmead's net oil and gas production will have grown by over 700%

Successful Exploration and Appraisal Programme

· New gas discovery made in the UK Southern North Sea by the Pharos exploration well

· Awarded five more oil and gas blocks in the UKCS 27th Licensing Round, resulting in a total award of 30 blocks across the North Sea, West of Scotland and West of Shetlands

· Work being accelerated on the high-impact Skerryvore oil prospect in the UK Central North Sea, with an exploration well planned

· Preparing multiple applications for new licences in the UKCS 28th Licensing Round

Strong Financial Performance delivering Maiden Profit

· Revenue increased by 395% to £9.9 million (2012: £2.0 million)

· Maiden profit before tax of £3.1 million (2012: loss £2.8 million)

· Total assets grew by 104% to £81.5 million at 31 December 2013 (2012: £40.0 million)

· Cash balances of £12.7 million as at 31 December 2013

· Post period-end, raised approximately £40.0 million (US$66.0 million), in an oversubscribed equity issue, to accelerate opportunities to develop the existing asset base and explore valuable M&A opportunities

· In advanced discussion with lenders regarding debt facilities to increase financial firepower and further strengthen the balance sheet

HARRYCAT - 10 Apr 2014 08:14 - 223 of 263

Parkmead completes acquisition to treble its stake in the Athena oil field

Parkmead is pleased to report that it has completed the previously announced acquisition of an additional 20 per cent. interest in UK production licence P.1293 (Block 14/18b ALL), containing the Athena oil field, from EWE VERTRIEB GmbH ("EWE").

Through Parkmead's acquisition of Lochard Energy Group PLC, completed in July 2013, the Company already holds a 10 per cent. interest in the producing Athena oil field. This acquisition from EWE has therefore trebled Parkmead's total stake in the field to 30 per cent. and the increased interest will provide the Company with significant growth in production revenues and operating cash flows.

The total consideration for the additional 20 per cent. interest is US$11.2 million. Following certain working capital adjustments, the final consideration payable by Parkmead to EWE will be satisfied by approximately US$2.679 million in cash and by the issue of 288,016 new Parkmead Shares to EWE.

Tom Cross, Executive Chairman of Parkmead, commented:
"This is Parkmead's most important deal to date, because it significantly strengthens the Group's oil and gas production base. The additional oil production from Athena will deliver major increases in revenue and cash flow at this exciting stage in Parkmead's growth".

HARRYCAT - 21 Nov 2014 08:22 - 224 of 263

StockMarketWire.com
Parkmead Group has swung to a FY pretax profit of £1.04m, from a prior-year loss of £5.3m. Revenue was £24.7m, from £4.1m. No dividend payment was recommended.

Executive Chairman Tom Cross commented:

"I am pleased to report another excellent year of progress. Parkmead has significantly increased its production base, providing major growth in revenue and cash flow. The Company has also recorded its first full year of profit, marking an important milestone.

"These key achievements have been delivered through two important acquisitions, one corporate and one asset, both of which secured increases to Parkmead's oil production. These new interests complement Parkmead's existing oil and gas portfolio.

"The Company also delivered successful drilling results with two new gas discoveries in the UK and the Netherlands, providing valuable near-term development opportunities. Parkmead was delighted to be awarded six new licences through the recently announced UKCS 28th Licensing Round, spanning nine attractive offshore blocks.

"Parkmead now has a strong platform from which to become a key E&P player in the North Sea, and we look forward to updating shareholders as we continue to grow into 2015 and beyond."

Successful Exploration and Appraisal Programme:

· Awarded five additional oil and gas blocks in the UK 27th Licensing Round, resulting in a total award of 30 blocks across the North Sea, West of Scotland and West of Shetlands

· Two new gas discoveries, at Pharos in the UK Southern Gas Basin and Diever West onshore the Netherlands

· Site survey completed at the exciting Skerryvore oil prospect in the Central North Sea, ahead of exploration drilling planned for 2015

· Post year-end, major licence awards in the UK 28th Licensing Round, gaining stakes in six new licences, spanning nine blocks across the Central and Southern North Sea

· The new licence awards take Parkmead's total number of oil and gas blocks across the UK and the Netherlands to 61, with 48 of these being operated by the Group

Major Growth in Production. Significant Progress with Developments:

· Completed the acquisition of Lochard Energy Group PLC ("Lochard") in July 2013, providing Parkmead with its first UK oil production

· Completed the acquisition of an additional 20% interest in the Athena oil field from EWE VERTRIEB GmbH ("EWE") in April 2014, trebling the Group's UK production, revenue and cash flow

· Excellent progress made with the Perth Dolphin Lowlander (PDL) oil hub project. Successful joint development study and detailed subsurface work leading to a combined three field development.

HARRYCAT - 02 Dec 2014 13:37 - 225 of 263

Numis reiterates buy on Parkmead Group, target cut from 262p to 210p.

HARRYCAT - 28 Mar 2015 09:51 - 226 of 263

StockMarketWire.com
Parkmead Group has swung to a heavy H1 pretax loss of £17.0m, from a year-earlier profit of £3.1m. Revenue was £10.1m, from £9.9m.

Executive chairman Tom Cross said the period was one of significant progress.

"Parkmead discovered a new onshore gas field at Diever West, in the Netherlands, which delivered excellent production flow rates, providing an additional near-term cash flow opportunity to the Group.

"Parkmead expects to treble the Group's net gas production in the Netherlands through a low-cost work programme during 2015. This will act as a natural hedge to the low oil price environment.

"Parkmead's new licence awards in the 28th Round were an outstanding result for our Company, with nine new offshore oil and gas blocks awarded to the Group. We were delighted with the awards located close to our large PDL development, as they have the potential to add significant value to the project. Contingent resources have increased by 142%.

"Parkmead is well positioned to take advantage of the lower oil price environment and the opportunities that are arising from this. We have significant cash resources, and a growing low-cost gas portfolio. The Group will continue with its licensing and acquisition-led growth strategy, securing opportunities that maximise value for our shareholders."

cynic - 28 Mar 2015 10:57 - 227 of 263

sorry to so comment harry, but what an awful chart
sp has scarcely broken 25/50 dma for about a year and all seems to be moving inexorably south

HARRYCAT - 28 Mar 2015 15:15 - 228 of 263

Yes, you are right. I kicked this into touch quite a while ago fortunately, but I still keep a watch. I think investors in North sea oilies were hoping that the latest HMG tax concessions would help to support the sp, but seems the price of oil is badly affecting the balance sheet.

cynic - 28 Mar 2015 15:39 - 229 of 263

PMO and TLW may be a bit iffy at the moment, but at least they're proper companies with real assets and production

HARRYCAT - 18 May 2015 10:41 - 230 of 263

Parkmead raises US$21.1 million to accelerate opportunities
Parkmead, the UK and Netherlands focused independent oil and gas group, is delighted to announce that it has raised approximately US$21.1 million (£13.44 million) through a placing of 11,200,000 new Ordinary Shares (the "Placing Shares") at 120 pence per share (the "Placing Price"). The Placing Shares have been placed with certain institutional and other investors (the "Placing").

The Placing, which has been undertaken by Charles Stanley Securities, is conditional, inter alia, on admission to trading on AIM of the Placing Shares ("Admission").

Background to and Reasons for the Placing
The Company has built a strong platform for future growth and has been actively executing its accelerated strategy to become a key E&P player in the North Sea.

The last 18 months have proved to be an excellent period for Parkmead, one which saw strong progress across the Group's growing oil and gas portfolio. In the Netherlands, a new onshore gas field was discovered at Diever West and the discovery is expected to be tied into existing facilities by the end of 2015 under a fast track development programme. A number of enhanced production opportunities are available across Parkmead's existing Netherlands portfolio which the Company intends to capitalise on, with the aim of significantly increasing its net gas production.

HARRYCAT - 20 Nov 2015 08:50 - 231 of 263

·

HARRYCAT - 20 Nov 2015 08:51 - 232 of 263

StockMarketWire.com
Parkmead Group confirms that first commercial gas production has been achieved at the Diever West gas field in the Netherlands. However, the company also unveiled a FY pretax loss of GBP30.8m, from a profit of GBP1m.

The Diever-2 discovery well was flow tested at 29 million cubic feet per day (approximately 5,000 barrels of oil equivalent per day).

Overall, Parkmead said its reserves and resources were increasing:
· Considerable 2P reserves of 26.1 million barrels of oil equivalent as at 30 June 2015

· Contingent resources increased by 129% to 41.9 million barrels of oil equivalent as at 30 June 2015 (18.3 million barrels of oil equivalent at 30 June 2014).

cynic - 20 Nov 2015 08:53 - 233 of 263

per post 212 .....
is this cardboard to cardboard, dust to dust, ashes to ashes?

HARRYCAT - 20 Nov 2015 08:55 - 234 of 263

Pretty dire, I must admit.

HARRYCAT - 04 Feb 2016 08:58 - 235 of 263

Panmure Gordon today reaffirms its buy investment rating on Parkmead Group (The) PLC (LON:PMG) and cut its price target to 95p (from 249p).

HARRYCAT - 24 Mar 2016 09:59 - 236 of 263

StockMarketWire.com
Parkmead has substantially narrowed its H1 pretax loss to GBP4.6m, from a loss of GBP17.0m. Revenue fell to GBP6.99m, from GBP10.12m. The comparative period included GBP12.9m of property, plant and equipment impairment.

Executive chairman Tom Cross commented:
"Parkmead has developed a new gas field at Diever West, in the Netherlands, following its successful discovery. This is delivering profitable gas production and important additional cash flow to the Group.

"We successfully brought this new gas field onstream within 14 months of discovery, which is an outstanding achievement.

"Parkmead is increasing the Group's overall gas production in the Netherlands through a low-cost, onshore work programme. This will act as a natural hedge to the current low global oil prices.

"We are delighted with our new additional licence award, in the West of Shetland region, which further increases the scale of Parkmead's oil and gas operations in the UK. West of Shetland is an area we understand well and has the potential to add major value to the Company.

"Parkmead is well positioned to take advantage of the lower oil price environment and the opportunities that are arising from this.

"We have excellent regional expertise, significant cash resources and a growing, low-cost gas portfolio. The Group will continue with its licensing and acquisition-led growth strategy, securing opportunities that maximise long-term value for our shareholders."

HARRYCAT - 08 Aug 2016 11:23 - 237 of 263

finnCap today initiates coverage of Parkmead Group (The) PLC (LON:PMG) with a buy investment rating and price target of 80p

cynic - 08 Aug 2016 15:11 - 238 of 263

i keep saying so, but this company is and always has been a load of junk

HARRYCAT - 08 Aug 2016 15:51 - 239 of 263

Yes you have been consistent!
North Sea oil seems to have fallen out of favour, partly due to the oil price and partly due to the ever diminishing resources. The recent strikes by staff on some of the rigs hasn't helped either.
I have traded in and out in the past but am not a holder.

HARRYCAT - 10 Aug 2016 07:22 - 240 of 263

StockMarketWire.com
Parkmead Group has doubled its stake in the Polecat and Marten oil fields in the UK Central North Sea.

The Polecat and Marten fields are located in Blocks 20/3c & 20/4a within Licence P.2218. Parkmead has acquired a further 50% of Licence P.2218, and now operates the licence with 100% equity.

Parkmead initially secured its first 50% interest in these blocks as part of the UK 28th Licensing Round awards, where the Company won a total of nine new oil and gas licences covering 12 offshore blocks.

The Polecat and Marten fields lie approximately 20km east of the significant Buzzard field, and are located close to Parkmead's large Perth-Dolphin-Lowlander (PDL) hub project in the prolific Moray Firth area of the Central North Sea.

Polecat and Marten are two sizeable existing Buzzard sandstone oil accumulations, which are jointly estimated to hold over 90 million barrels of oil in place and over 33 million barrels of contingent resources.

Through this acquisition, Parkmead has increased the Group's total contingent resources by 39%, from 42.5 to 59.1 million barrels of oil equivalent.

Polecat and Marten could be highly valuable to Parkmead as, given their close proximity to PDL, they could be jointly developed as part of the Greater PDL Area project.

Polecat was discovered in 2005 and appraised in 2010. The 2010 appraisal well was flow tested at 4,373 barrels per day of good quality 32-degree API oil. The Marten discovery was made in 1984, encountering three oil bearing sandstones of Upper Buzzard age.

Parkmead benefits from the large amount of existing data on the block, gathered as a result of wells already drilled in the area.

mentor - 10 Aug 2016 10:43 - 241 of 263

My view

A loss making oil/gas company -£4.6M last Year with cash of £29.6M and market cap of £46.50M.
A bit speculative at the moment and only coz the one at the helm is well known for doing well on the past,
but a few years now there and not much happening so far, the oil price did not help by the way.
Share price 50p

HARRYCAT - 14 Sep 2016 07:40 - 242 of 263

StockMarketWire.com
Parkmead Group has increased its stake in the Perth and Dolphin oil fields in the UK Central North Sea.

The Perth and Dolphin fields are located across Blocks 15/21a, b, c and f & 14/25a in Licences P.218, P.588 and P.2154.

Through this growth step, Parkmead has increased its equity in these licences to 60.05%. The Perth and Dolphin fields, which are both operated by Parkmead, are at the core of Parkmead's major Perth-Dolphin-Lowlander (PDL) oil hub project.

Perth and Dolphin are located in the prolific Moray Firth area of the UK Central North Sea, which contains significant oil fields such as Piper, Claymore and Tartan.

Through a series of licensing round successes and strategic acquisitions, Parkmead has established an important position for itself in this area of the North Sea.

Perth and Dolphin are two sizeable Upper Jurassic Claymore sandstone accumulations that have tested 32-38o API oil at production rates of up to 6,000 bopd per well.

As a result of this latest move, Parkmead has increased the Group's total proved and probable (2P) reserves by 19% from 23.5 to 27.9 million barrels of oil equivalent.

This transaction follows Parkmead's recent acquisition of an additional 50% equity in the Polecat and Marten fields, announced on 10 August 2016.

Polecat and Marten have the potential to be highly valuable to Parkmead as, given their close proximity to PDL, they could be jointly developed as part of the Greater PDL Area project.

HARRYCAT - 18 Nov 2016 09:02 - 243 of 263

StockMarketWire.com
Parkmead Group has materially reduced its FY pretax loss to £6.4m, from a year-earlier loss of £30.8m.

Revenue was £10.4m, from £18.6m. The prior year was affected by £39.4m for cost of sales, versus £15.1m in the just-ended leg.

"I am pleased to report an excellent year of progress for Parkmead, despite the challenges of the low oil price environment," said executive chair Tom Cross in a statement.

"Parkmead discovered and brought onstream a new gas field at Diever West, in the Netherlands, within just 14 months. This field is delivering profitable gas production and important additional cash flow to the Group.

"Parkmead is increasing the Group's gas production in the Netherlands through a low-cost, onshore work programme. This acts as a natural hedge to low global oil prices.

"The Group's reserves and resources have significantly increased in 2016 through two licence acquisitions. Parkmead has strengthened its position around the important PDL oil hub in the UK North Sea.

"Our new licence awards in the 28th Round were an outstanding result for Parkmead, with 10 new offshore oil and gas blocks awarded to the Group. We are delighted with the new award in the West of Shetland region targeting two prospects, Sanda North and Sanda South. West of Shetland is an area we understand well and has the potential to add major value to the Company.

"Parkmead is well positioned to take advantage of the ongoing lower oil price environment, and the opportunities that are arising from this. We have excellent regional expertise, significant cash resources, and a growing, low-cost gas portfolio.

"The Group will continue to build upon the inherent value in its existing interests with a licensing and acquisition-led growth strategy, securing opportunities that maximise long-term value for our shareholders."

HARRYCAT - 17 Feb 2017 09:31 - 244 of 263

finnCap today reaffirms its buy investment rating on Parkmead Group (The) PLC (LON:PMG) and set its price target at 81p.

cynic - 17 Feb 2017 17:36 - 245 of 263

and i retain my view that this company is absolute rubbish, as borne out by the 5-year chart below

Chart.aspx?Provider=EODIntra&Code=PMG&Si

HARRYCAT - 24 Mar 2017 10:50 - 246 of 263

StockMarketWire.com
The Parkmead Group has marginally narrowed its H1 pretax loss to £4.5m, from a loss of £4.6m, although the underlying composition of that loss varied considerably between the periods.

"I am pleased to report significant progress in the period to 31 December 2016," said executive chairman Tom Cross.

"We have increased gas production from Parkmead's low-cost Netherlands portfolio through an onshore work programme, which has resulted in Parkmead moving into gross profit. This is an outstanding achievement for Parkmead at a time when global oil prices have remained low."

Revenue was down more than half to £2.7m, from £6.99m. It made a gross profit of £672,000, versus a gross loss of £4.1m. Cost of sales totalled £2.0m, from £11.1m.

In the just-finished period exploration and evaluation expenses totalled £2.4m, from £550,000. Administrative expenses were £2.4m, from a credit of £347,000.

Looking ahead, Cross said Parkmead was well positioned to take advantage of the ongoing lower oil price and the opportunities that arose from this.

"We have excellent regional expertise, significant cash resources, and a growing, low-cost gas portfolio.

"The Group will continue to build upon the inherent value in its existing interests with a licensing and acquisition-led growth strategy, securing opportunities that maximise long-term value for our shareholders."

cynic - 24 Mar 2017 11:48 - 247 of 263

all above fully reflected in sp and performance over last 5 years

HARRYCAT - 24 Mar 2017 12:06 - 248 of 263

Ah, but fortunately the market is forward looking! ;o)

cynic - 24 Mar 2017 12:47 - 249 of 263

but not necessarily PM!

HARRYCAT - 04 Apr 2017 10:16 - 250 of 263

StockMarketWire.com
The Parkmead Group has nearly doubled its stake in the major Sanda North and Sanda South structures in the West of Shetland area of the UK North Sea.

These two large Palaeocene prospects were both located within Block 205/13.

Through this accretive step, Parkmead has increased its equity in the licence from 56% to 100%.

The Sanda North and Sanda South prospects, which were both operated by Parkmead, had the potential to contain 280m barrels of recoverable oil on a most likely, P50 basis.

It said the licence covering Block 205/13 was originally awarded to Parkmead as part of the UKCS 28th Licensing Round, where it was awarded a total of six new oil and gas licences covering 10 offshore blocks.

Block 205/13 was situated in the Faroe-Shetland Trough in the West of Shetland region of the UK North Sea, to the north east of the Lancaster field.

HARRYCAT - 10 May 2017 10:30 - 251 of 263

StockMarketWire.com
The Parkmead Group has signed a sale and purchase agreement with Verus Petroleum (SNS) Ltd to acquire a 50% interest in UK North Sea Licence P.2209, taking its equity to 100%.

The licence contained the Farne Extension prospect and a further four prospective leads. Licence P.2209 comprised two adjacent blocks, Block 42/19 and Block 42/20b.

Parkmead currently said it had held a 50% interest in the licence, and "therefore this acquisition doubles Parkmead's equity to 100%."

The collection of prospects and leads within the licence, which was operated by Parkmead, had the potential to contain 175bn cu ft of gas initially in place on a most likely, P50 basis.

Completion of the acquisition was subject to normal regulatory approvals.

HARRYCAT - 17 Nov 2017 09:56 - 252 of 263

StockMarketWire.com
The Parkmead Group said annual losses narrowed after it focused its efforts on lower-cost operations in the Netherlands.

The company booked a net loss of £4.9m, narrowing from a £6.7m loss a year earlier.

Revenue more than halved to £4.1m, down from £10.4m, after the company shut-in its Athena oil field as part of a cost reduction programme.

Parkmead re-allocated capital to its low-cost producing gas fields in the Netherlands, helping to lower its cost of sales to around £3m, from around £15m.

"The directors of Parkmead are pleased with the group's continuing progress in building an energy company of increasing breadth and scale," executive chairman Tom Cross said.

"Parkmead has a balanced portfolio of licences, growing gas production and a strong oil and gas reserves base. Therefore, we believe Parkmead is well positioned to build further on the progress to date and to capitalise on new opportunities."

cynic - 17 Nov 2017 10:42 - 253 of 263

annual revenue £4.9m?????
what a joke of a company

HARRYCAT - 07 Feb 2018 09:47 - 254 of 263

StockMarketWire.com
Parkmead said it had upped its equity stake in the Perth and Dolphin oil fields in the UK central North Sea to 100% from a previous holding of around 60%.

The company also signed an agreement with Nexen Petroleum, a subsidiary of the China National Offshore Oil Corporation, to conduct a detailed engineering study.

The study would examine a potential subsea tie-back of the Greater Perth Area project to the Nexen-operated Scott platform and associated facilities in the UK central North Sea.

The Scott facilities lie some 10km southeast of Parkmead's GPA project

HARRYCAT - 14 May 2018 09:41 - 255 of 263

StockMarketWire.com 29.03.18
Parkmead, the UK and Netherlands-focused independent energy group, doubled its gross profit in the six months to 31 December 2017 to £1.4 million.

This was driven by increased gas production in the Netherlands and a cost reduction programme in the UK.

Revenues were flat at £2.7 million.

The group's gas portfolio in the Netherlands generates positive cash flows and Parkmead's four separate gas fields have an average operating cost of just US$10 per barrel of oil equivalent. Technical work undertaken across the wider Parkmead portfolio has allowed the company to release non-core acreage, such as licence P. 1566, considerably reducing licence costs.

Administrative expenses were £0.3 million, down from £2.4 million a year ago.

Parkmead's total assets at 31 December 2017 were £75.8m (2016: £84.0m). Available-for-sale financial assets were £4.1m (2016: £4.0m). Cash and cash equivalents at year end were £24.4m (2016: £26.7m).

The group's net asset value was £65.2m (2016: £70.1m).

Parkmead's executive chairman, Tom Cross, said: "We are delighted to have significantly increased production at the Diever West gas field, which builds Parkmead's cash flow. New reservoir modelling indicates that Diever West could be more than double the size originally expected.

"We are also pleased with the major progress made with the Greater Perth Area project. By increasing our stake in the Perth and Dolphin oil fields, Parkmead's oil and gas reserves grow by some 67%."

HARRYCAT - 14 May 2018 09:42 - 256 of 263

Strengthening oil price helping all of these producers.

cynic - 14 May 2018 09:54 - 257 of 263

the chart on #245 tells a much more accurate picture

there are currently reasons to buy some of the E&P oilies - eg PMO - but PMG is and always has been a cardboard company

invest more wisely!

required field - 14 May 2018 11:46 - 258 of 263

You mean digest more whisky....!.....try Rockhopper guys..(RKH)....heck of a lot of positive updates coming perhaps....sp is rocketing....

HARRYCAT - 24 May 2018 17:57 - 259 of 263

Parkmead awarded nine new UK oil and gas blocks

Diever West production reaches record new high

Parkmead, the UK and Netherlands-focused independent energy group, is delighted to announce it has been provisionally awarded nine offshore blocks and part blocks spanning five new licences in the UK 30th Licensing Round.

These newly awarded licences will all be operated by Parkmead and are located in the Central North Sea, Southern North Sea and West of Shetland areas. Two of the new awards cover the highly prospective Skerryvore area and contain seven new prospects, three of which are stacked. The awards also include acreage containing the Lowlander oil field, in close proximity to Parkmead's Greater Perth Area ("GPA") oil hub project. The addition of Lowlander increases Parkmead's 2C resources by 29% to 95.3 million barrels of oil equivalent ("MMBoe").

These awards, which include a range of new exploration prospects, in addition to a number of proven discoveries, follow on from Parkmead securing nine new licences covering a total of 12 offshore blocks in the UK 28th Licensing Round awards.

HARRYCAT - 16 Nov 2018 09:48 - 260 of 263

StockMarketWire.com
Oil and gas producer Parkmead Group reported a deeper annual loss after it almost doubled spending on exploration.

Pre-tax losses for the year through June amounted to £5.9m, compared to £4.3m of losses on-year.

Revenue rose 70% to £7.0m and gross profit, which strips out exploration spending and other costs, more than tripled to £4.1m.

Production at the Diever West gas field in the Netherlands was enhanced, the company said, and achieved a new gross average monthly high in May 2018 of 56.9m cubic feet per day.

cynic - 16 Nov 2018 09:59 - 261 of 263

what a joke of a cardboard company this is .... yet another where lemmings were foolishly sucked in at the outset

HARRYCAT - 16 Nov 2018 17:49 - 262 of 263

Had you invested in late 2017 you could have doubled your money!
I keep throwing out these little gems for you, but it appears they are falling on stony ground! ;o)

cynic - 17 Nov 2018 11:02 - 263 of 263

and if you had invested in 2011/12 ......... well the chart says it all

Chart.aspx?Provider=EODIntra&Code=PMG&Si

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The Parkmead Group (PMG)