The_Marin
16 Nov 2018
Results Very little progress on GPA hub, just the same fancy talk of potential and discussions but nothing concrete. If there was no problems with GPA then development would have been started by now. Sounds like there is a problem with Nexen and Parkmead management being in disagreement with costs rather than geological or technical issues. Who needs each other more? Parkmead do not have enough revenue or cash to develop the field without Nexen so Nexen could play hardball. They have lost almost $3mm cash since last prelims so an overall loss on revenue, NO PROFIT. Lots of licenses with very little money or unable to find partners to explore them which equals poor management. I believe the government should consider putting a time limit on how long a company should hold a license without any activity on it. Its stops much needed work and revenue for the countries involved.
NoQuestionMarks
16 Nov 2018
Results Two big ticks for me this morning. Well stimulation can enhance recovery rates & tie back to Scott is technically feasible. We are talking commercially rather than technically which is a step in the right direction. Given the macro environment I expect the share price to fall back to possibly test 51p again. · Engineering study confirmed the technical feasibility of a tie-back of the GPA project to the Scott facilities · Parkmead has entered into commercial discussions with the Scott field partnership in order to explore terms for a tie-back of GPA to Scott · Nexen’s Scott facilities lie just 10km southeast of Parkmead’s GPA project · New GPA reservoir study concluded that stimulating the Claymore formation would result in a considerable increase in well productivity and is likely to increase the project’s oil recovery
NoQuestionMarks
05 Nov 2018
The Bounce 63p at the close for a 4p gain for the day. Volume still pretty average at 400k. There has been good money to be made on the dips to 50-51p. However I’m holding what I have until results now, there may not be another dip before then. Results should be within two weeks but if a deal is on the cards Tom may hold back until there is something concrete to report.
NoQuestionMarks
30 Oct 2018
The Bounce The bounce from 50p at the back end of last week may be down to the Investors chronicle piece yesterday. Simon Thomson was suggesting that at 50p, we were good value. Three weeks to results… My opinion, for what it’s worth. If there’s a deal on the GPA to announce it will be 100p+ by Christmas. If there is no news but a hint of one we should tread water and further opportunities to buy may come along. If the deal is off we’ll be back to the cash value of the business in pretty quick time. ([link]
The_Marin
18 Oct 2018
Results The smart money may well start to buy in ahead of results. Sell on results if no GPA news.
NoQuestionMarks
12 Oct 2018
North Sea Transferable Tax History Legislation Hello all, This new tax legislation comes into force for deals completed on or after the 1st November 2018… I am hoping that this is what Parkmead and their suitors are waiting for before signing any deal? What do you think? Results are due around the 16th of November so hopefully we will hear something then. North Sea Oil and Gas Transferable Tax History Legislation
callsignzulu
12 Sep 2018
Gpa feed? If the share keeps rising tmrw then Nexen have decided to join the party…Great deal for all involved.
NoQuestionMarks
12 Sep 2018
Gpa feed? A 30% rise in a couple of days! The most likely catalyst I can imagine is an announcement relating to GPA. Failing that a farm out of the Sanda Block. Or, it could be another false dawn. Patience will be rewarded methinks!
TheDell
04 Sep 2018
Licenses Seismic has been successfully shot over both Sanda North and South with encouraging results, from memory the additional license granted in may to Parkmead is or has been commissioned for seismic research, in fact it may be underway at this present time.
callsignzulu
04 Sep 2018
Licenses How can u fail when u are accumulating…The Scott platform will take all of GPA and more through to the mainland. Do u honestly think that Equinor are going to float an FPSO at Verbier…It’s all down to planning ! Knowing cross he’s probably doing the FEED now in the back ground !
The_Marin
03 Sep 2018
Licenses The simple facts are that they have FAILED to deliver significant acquisitions when the oil price was low which they were so heavily punting. They have FAILED to make progress on the GPA hub which they have been so heavily punting. It now looks like to me that they have been asking to much for the farm in or there is a problem with the geology. They may well be delaying bad news so insiders can get out or delaying good news so insiders can buy in cheap, take your pick. The government should not be giving out licenses to companies that have no significant cash flow or plans to explore them in the near future. This company has done very to exploit its licenses it already has, all huff and no puff.
NoQuestionMarks
03 Sep 2018
Licenses North Sea veteran Algy Cluff’s view on the future for the North Sea, I think he is spot on. We have picked up decent licenses at the bottom of the cycle, we just have to wait for their true value to be appreciated. " The febrile state of the world, arguably more unstable than at any time since World War II, suggests that our portfolio of licences represents a valuable strategic hedge in the event of the disruption of commodity supplies. Whilst North Sea oil and gas is most likely neutral in the Brexit sense there clearly are a range of scenarios of crisis points now, of which perhaps the most alarming would arise from the closure of the Straits of Hormuz should the Iranian challenge escalate. Secure capacity accordingly is of no less importance now than at any other time in our history. European gas prices are now at a three year high and gas in storage is sharply lower than last year. Trouble is looming. One of the curious features of the North Sea recently has been the tendency for private equity funds to buy cash flow from the major oil companies. Apart from inevitably paying a full price for this production these funds have up until now had less focus on exploration. That is one of the reasons exploration in the North Sea has declined. However, I am confident that with the revival of interest in the North Sea will come a revival of exploration, the life blood of the industry, and that in my next statement I shall be able to refer to a drilling programme on our licences." JG Cluff Chairman 3 September 2018
callsignzulu
02 Sep 2018
Heads Down! Correct !
callsignzulu
02 Sep 2018
Licenses Parkmead is an oil and gas E&P company… Eploitation takes time, deals have to be negotiated !
TheDell
31 Aug 2018
Heads Down! If the GPA,Scott,Sulphur,Farm in % negotiations all come to a successful conclusion it gives Parkmead plenty of "cred"and collateral to move forward. The West of Shetlands sanda north and south plus the latest additional licence could be where to aim at a later date , it could be the Jewel (who knows). BP have large reserves over there and investing heavily nearby.
