This looks cheap now to me I had a small position here that was well under water and have doubled down now to bring my average down to around 40p ... If they already haven't, Fidelity will stop selling soon, even if thats because they have nothing left to sell.. and the gas and oil price background is more decent now and looking somewhat sustainably so ( obviously there may well be some step backs still but I wouldn't expect them to be large or long in duration ) This stock has been decimated in the down turn and while others have picked up a bit - or more - already this has yet to and so I see little downside from here and plenty of potential for upside.DYOR of course.
Parkmead Tweet ! Oil rises 2 percent on signs rebalancing underwayDevika Krishna Kumar REUTERS/Christian HartmannNEW YORK (Reuters) - Oil prices rose about 2 percent on Tuesday, supported by Saudi Arabian export cuts in November and comments from OPEC and trading companies that the market is rebalancing after years of oversupply.Saudi Arabia has cut November allocations by 560,000 barrels per day (bpd), in line with its commitment to an OPEC-led supply reduction pact.The Organization of the Petroleum Exporting Countries is seeking to hold a second meeting with U.S. independent oil firms as well as hedge funds, OPECs Secretary General told Reuters, adding that no oil producer could afford to live in isolation.
Re: Tom true to his words ! Oh dear you seem to have come up agains something that you cant answer. My doom and gloom predicted single figures and you 100% promised 15% gains. Who called it right CSZ? Weve seen over 90% losses since then and I call it realism
Re: Tom true to his words ! Kid Gwa ya gype !
Re: Tom true to his words ! Thats right CSZ because my thoughts have been so wrong in the past havent they? Your constant positivity has been correct every time.
Re: Tom true to his words ! Kid Tom stated at the AGM 2016 that a result at the Verbier oil field would increase all factors for Polecat and Marten........They are both on the same fairway play......All coming good for Parkmead Could Statoil be the farm in partner for some of Toms assets..Will keep an open mind rather than listen to the kids doom and gloom !
Re: Tom true to his words ! Polecat and Marten must go through Perth Hub so no guarantees that Statoil will want to farm in. Why tie themselves to PMG timescale on a sour hub when theyve got a good field next door that they are operator of? They could have Verbier flowing before PMG have a FDP for Perth. The FDP was promised about 5 years ago then FPM backed out.
Re: Tom true to his words ! >Polecat and Marten must, realistically, be tied to the PDL hub or left behind - Charles Stanley >research. Perth development is still key to everything in PMG. They still need a purpose built >sour crude facility as said by Charles Stanley too. >£1Bn+ needed. Same position as theyve been in for about 8 years now and not much moving >forward.Following Verbier, surely farming into Polecat and Marten must now be on Statoil's radar? PMG are in a strong position with 100% equity.
Re: Tom true to his words ! Polecat and Marten must, realistically, be tied to the PDL hub or left behind - Charles Stanley research. Perth development is still key to everything in PMG. They still need a purpose built sour crude facility as said by Charles Stanley too. £1Bn+ needed. Same position as theyve been in for about 8 years now and not much moving forward.
Re: Tom true to his words ! Your statements are getting wilder CSZ. This is totally out Tom or PMGs control so nothing to do with his or their word. PMG day and did nothing while a neighbour won the lottery and you claim its true to his word. What about the part where he promised you that hed be in charge of XEL? Didnt keep to that one!
Re: Verbier oil well discovery Thanks for the heads up,A nice bump to the SP following the news from Statoil, just shows what some good news directly involving one of our blocks will do if this is the response to a neighbouring block.Verbier is pretty much attached to the Buchan oil field just to the North East of Polecat.Statoil must be feeling pretty satisfied that they decided to farm in to the licence just over 12 months ago for 70% and operator status.I seem to recall Jersey oil and gas (Trap Oil as they were then) picked up the blocks in the 28th licensing round.Playing devils advocate, I'm a little miffed that we didn't snap them up, hindsight and all that...Fidelity might have just sold out a huge chunk of their holding at the bottom of the market.Good luck to all holders,nqm
Tom true to his words ! Parkmead notes the high-impact exploration plans which are occurring close to the Parkmead operated Polecat and Marten oil fields in the UK Central North Sea. Statoil has recently farmed into a licence covering Blocks 20/5b & 21/1d, approximately 12km east of Polecat and Marten. It has been announced that Statoil is currently undertaking a tender process for the hiring of a drilling rig, expected to be awarded in the near future, in respect of a planned exploration well to be drilled targeting the Verbier prospect this summer. Verbier lies in the same play fairway as Polecat and Marten, and shares many similarities with these fields. In light of the findings of the Wood Review and the Maximising Economic Recovery (MER) strategy for the UK North Sea, a discovery at Verbier could have the potential to considerably increase the value of nearby oil and gas assets already owned by Parkmead.
Verbier oil well discovery Good news for Parkmead released today through jersey oil and gas, that an oil discovery nearTo Polecat and Marten has been established at the Verbier field......Parkmeads acreage next door is far larger than that of JOGS.....Good luck all and of course bad news for the localDoom and gloomers !
Herald/Scotland Cluff aims to raise £1m to buy into licensing roundKevin Scott @kevinscottHTBusiness CorrespondentCLUFF Natural Resources, the North Sea exploration company, is aiming to raise £1m in a share issue to apply for additional licences under the UKs 30th offshore licencing round, writes Kevin Scott.Funds will also be used give the company additional time to attempt to complete a farm out of its two wholly-owned gas licences in the Southern North Sea and to continue to pursue additional investment opportunities, as well as for general working capital purposes.The board, led by Algy Cluff, expect the net proceeds of the subscription to fund the company through to at least the middle of Q2 of 2018.The funds will be raised in two tranches, with the first batch of shares raising £625,000 through existing share allotment authorities. The issuing of a further £325,000 worth of shares is conditional on shareholder approval and will be voted on at a general meeting to be held on or around October 26.The shares were issued at 1.5p per share, a 21 per cent discount on Thursdays closing price. Shares closed last night down 10.39 per cent at 1.72p.In its interim results, Cluff announced it had widened losses to £774,288, with Algy Cluff noting that it was difficult to fully articulate the effort which we have invested in promoting the farm-out of these licences.
Fidelity RNS 15th Sept Hello all, If my maths is right Fidelity have sold at least four million shares as of the 6th of September.8.85% = 8.85m shares, give or take5% = 4.85m shares, give or take.Of course, we only know that they hold less than 5%, they could have sold much more than four million shares.From memory they don't need to notify again until they hold less than 3%, is that right?.Two questions.Why are they selling?Have they finished?The good-ish news is that it explains the relentless selling over the last few months I would guess.Thoughts please.