"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.

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

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

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.”

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.

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.

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."

Gone long @269.53

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

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

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

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

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?

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

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

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

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

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

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.