"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.

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.

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.

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

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.

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

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."

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.

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%.

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.

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

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)

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.

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.

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...

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

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

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

thanks harry :-)

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."

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