Parkmead Group (The) Live Discussion

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TheDell 14:41

32nd UKCS Licensing round opens A couple of thoughts to add for what they are worth. There must be huge amounts of data , costings, physical attainabilitys, timescales, procurement’s , markets, price fixing going on behind closed doors in Aberdeen. And not a time for an irrational descision at this moment in time. China growth now down to 3.5 % from figures either in the teens or above in recent times . Oil supply is OK for the present with restraint to hold the world market price , 2020 and ahead could see on oversupply of oil , somewhere between 8-12 million bpd coming from the permian basin in Texas, sounds good but not from all accounts is it not that profitable to produce anywhere under $45 a barrel, anywhere below this figure some rigs shut down . Toms job is to budget for a cost per barrel below this Permian figure to give Parkmead a good future. Think it was stated GPA where production was quoted at low $30’s maybe $33 per barrel. Tom and his team are pretty good at figures. With one eye on Platypus now with news imminent and another on maybe Pharos to tie in, cost’s are mounting. Lets hope for a result at GPA to give the foundation for future growth. GL.

NoQuestionMarks 14 Jul 2019

32nd UKCS Licensing round opens By my reckoning, we have around £30m of cash sat in the bank. It’ll soon be time to cough up our 15% share for Platypus. There was talk of production improvements/exploration in the Netherlands. Our 7.5/15% share won’t be massive but still has to be paid for. And then there’s Skerryvore…Serica are making money hand over fist so I would think they are keen to drill. I can’t see there being too much left in the coffers to fund a meaningful share of GPA or the West of Shetland(WoS) after paying for that little lot. I also get the impression that one or two of the opportunities we are looking at are outside of the oil/gas fields… Wave/Wind perhaps? Personally, I would be over the moon if we were to retain a 10% interest in the GPA & WoS licenses in return for a free carry through to first oil on the GPA and an exploration well or two in the WoS. I’d hate us to put all our money on black… only for it to come up red. Tom is a wise head, can’t see him falling into that trap somehow… What do you think?

TheDell 13 Jul 2019

32nd UKCS Licensing round opens Plenty on offer in this 32nd round. A major has to be key to developing Parkmeads known estimated 400-500 million recoverable barrells from the two blocks {whats in the third one that we hold adjacent}. And what might we get in this forthcoming round . A mega hub will be whats required as you say NQM. In 2014 it was stated the Western Shelf could contain enough oil for 100 years, up to 10 billion barrells. Then there would also be gas in quantity. A wildcard i agree. I still wonder if we were the prefered JV partner with Cluff O&G but Tom thought it would soak up to much cash for the % return,and bigger fish were out there. BP are JV now with Cluff who weren’t the initial choice.

NoQuestionMarks 13 Jul 2019

32nd UKCS Licensing round opens 768 Blocks on offer, supported by data from 90,000 samples taken from 2700 previously drilled wells. The West of Shetlands will develop some interest from the majors I would have thought (the licenses adjacent to ours are available) The other areas have plenty of pools of oil that the small fry could develop if they embrace the collaborative hub approach that the OGA prefer. This is where I see our future. Our licenses in the West of Shetland are our wildcard, hopefully they turn out to be part of a huge field! OGA 32nd Licensing Round

NoQuestionMarks 11 Jun 2019

History of the North Sea You are welcome. I’m glad Serica are with us on Skerryvore, they have the experience and cash to pay their corner. Likewise with Zennor and CalEnergy. It just goes to show the regard they hold us in to allow us to be operators. Skerryvore not up for renewal until September 2024 so I don’t expect any movement soon. Zennor are busy with Finlaggan and Serica are getting to grips with Rhum. Next year maybe? Platypus FID this year will keep us ticking over. Perth? Who knows, that really is a roll of the dice.

TheDell 11 Jun 2019

History of the North Sea Thanks for the read.

NoQuestionMarks 30 May 2019

A Morsel Agreed. It reminds me of Serica, for ages we were waiting on a decision on Columbus and then the Erskine deal came out of left field. I noticed from the CNOOC a results that their profit for 2019 was only 93% of what it was in 2013… At first glance it seemed negative. But, When you consider that Brent in 2019 was only 66% of what it was in 2013 it shows just how well they have adapted.

TheDell 29 May 2019

A Morsel Would have to think a positive outcome for Platypus alone (not including GPA) might take the share price to £1 plus, extra synergies by way of marked increase in cash flow for investments elsewhere. Providing all things remain equal (oil prices remain stable) in a turbulent world

NoQuestionMarks 28 May 2019

A Morsel Thanks for sharing this, I had missed it. Our 7.5% share of the Diever West Production has kept the wolves from the door. A 15% share of a field roughly a third larger will come in very handy, Diever West ain’t going to last forever. We will just have to wait for that FID in Q3. There are so many plates spinning at the moment that something has to materialise soon (how many times have we said that!) Patience needed in abundance.

TheDell 25 May 2019

A Morsel The Dana 59% operated Platypus gas field North Sea, 15% Parkmead Is estimated to hold 180 billion ft3 of gas reserves. First gas targeted 2021. As of yesterday Dana is understood to have selected Perenco`s Cleeton platform as the prefered offtake route for gas output from its Platypus developementin the UK southern North Sea. A final investment descision is expected Q3.

NoQuestionMarks 21 May 2019

History of the North Sea If you have an hour to spare, this speech from Tony Craven Walker of Serica is an interesting read. From the Forties discovery with BP up to the present day with Serica, I found it fascinating. > Blockquote

NoQuestionMarks 01 May 2019

Results £640m worth of shares traded in April, a marked increase on the previous four months where the total value of shares traded amounted to around £550m.

TheDell 18 Apr 2019

Website updated Thanks for update, a few barrels more!!

NoQuestionMarks 18 Apr 2019

Website updated The ‘our assets’ section of the website has been updated to show the licenses acquired last year. Struggling to break through 70p, which I’m not too worried about, as long as we hold above 60p I am happy for now. Don’t forget it was only 18 months ago that we were able to buy, for several months at around 35p. [link]

NoQuestionMarks 10 Apr 2019

Scott it is! Polar Capital have reduced their holding from 4.75% to 3.90%. Share price still on the up so there is plenty of demand.