Frustration! There seems no confidence in the market at the present time. The Parkmead share price is down again despite the oil price rise, a no deal might not be a bad deal then we can “morph” into something else, break this stalemate and move on. For heavens sake!! Good idea or bad idea anybody know??
Total sell off Total are selling off 24 gas wells offshore the Netherlands in the hope of raising 200- 250 million. The statement quotes that a major share of those are for decom , might be a deal there.
Anything doing Any sort of deal whatever it may be must bring the sp close to Panmures valuation of 75p - 85p. A series of deals over the next 12 months would bring massive performance upside, hopefully best performer again. Simon of |I C forecasts a net profits improvement for the next 6 months. The pot simmers.
Anything doing I think it was just that there was a mention in the investors chronicle, we were on last years bargain shares of 2018 and finished as their best performer. We are in their bargain list for 2019. Those commercial negotiations with the Scott partners are hopefully progressing well. There are several partners (Nexen, Dana, MOL, Edison, Maersk) who will all have internal negotiations so I think we will have to be patient for a while yet. The 50p support seems to be holding which is of some comfort. GL.
Anything doing Today’s price rise !! Probably market makers upping the price back to a realistic level after dropping it pre Christmas so they would not have been caught out if oil price had fallen again over the season. Oil price looks to be stabilizing nicely on the back of cappings. The gas price remains strong however and is positive for the Diever production. Hopefully news soon. Whispers Cluff may anounce drilling ahead, hopefully it might involve Parkmead.
Results Background noise everywhere,deals take time confidentiality with many suitors is a game of poker, what will be will be. A win win situation is only time.
Results Off interest only if Parkmead are involved. The 31st Licensing round allocations will be announced sometime Q2.
Results It looks like to me that Parkmead are being asked to concede a lot of the GPA license to Nexen in return for development help, perhaps too much and that’s why things have stalled. An increase in 2P reserves will help but there’s still something fishy about the whole thing. Tie backs are not uncommon and with today’s modern technology and equipment they can be developed fairly quickly if its worth developing. Getting something from this field is better than getting nothing which is what they are getting at the moment. West of Shetland has also been disappointing considering the amount of activity in this area. The company is treading water and taking a long time to go no where. I look out for some crooked tipster to recommend the stock in the next week or so and get out.
Results mmm… Glass half empty opinion there methinks. A glass half full chap would say they have invested £5.2m in increasing their asset base, and yet, have only spent £3m of their cash. With the FPM shareholding we have getting on for £30m in the bank and NO DEBT. There aren’t too many companies on AIM that can say that. Just my opinion.
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.
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
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.
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]
Results The smart money may well start to buy in ahead of results. Sell on results if no GPA news.
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