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Dutch TTF at 36.8 - nearly x10 the price it was at lows in the last accounting period and our Dutch assets were profitable even then! I don’t know how to work out current revenue but I would bet on over €30 mill atm.
Oil price over $76 with predictions of $100 and a super cycle incoming. Multiple large scale oil and gas licenses.
And our SP barely covers Cash in hand plus land! Forget about the fact that we are producing significant revenue now and that we hold some of the most exciting North Sea Oil and Gas projects when they come to sanction. Plus a wind farm in planning.
Plus an industry legend As our CEO (Tom Cross took Dana to scale and sold it for £1.6 billion - he has called PMG Dana mk2 on steroids)with massive skin in the game (27%) most at much higher prices. And partners with great companies like Warren Buffets Cal Energy and Serica SQZ. The upside is eye watering. Market really does seem blind to this one. Very frustrating and exciting at the same time.
Hi Doyle your posts are very welcome and well informed . I missed TC's Dana Deal through impatience so feel this is an opportunity just too good to miss. No doubt plenty going on behind scenes but with banks keen to lend out of the pandemic Tom's credentials could stand him in very good stead .... Soon
No problem Frac. Good to have you on board. It’s been a very lonely experience to be a PMG investor!! No one talking about it but that is often a good buy signal. I am fully loaded. No more funds to commit and have been for years. Several ISAS full and a big chunk of non ISA d shares. Happy to wait patiently but equally keen for other investors to join for the ride as Ia am sure it’s coming and wouldn’t want anyone to miss out. I really don’t think you will catch this one near this SP once it goes. We’ve had the odd threat of breakout without news but we do need a catalyst. It would be nice to have some smaller good news maybe re WEst of Shetland or Skerryvore or the wind farm before bigger news re Dutch Assets, Platypus or the GOA hub. Would be nice to be at a much higher base before something big comes and knocks it out the park. Ready and waiting. Macro aligning nicely although markets are **** atm. Might be nice for big news to hold off until autumn and hopefully more liquid markets.
GPA hub not GOA. That comes in and we are in multiple pounds not pence.
Nothing imminent over the dog days of summer
I have been trying to work out how much gas we produce. Seems only the gross figure is stated in the AR.
Assuming we have 15% of everything we could be pulling in 18 million euros a year at 36 euro per megawatt hour.
Gross production is approx 9000MWh per day.
Still, it’s decent and we could see an operating profit of close to £10 million a year if these prices are a new normal.
Hi mrc_mrc_mrc_mrd,
We only hold 7.5% of our major producing asset Diever West, licence details can always be found in the annual report, page 18 if I am not mistaken.
Gross production for the 6 months to Dec 31st 2020 was 32.8 million standard cubic feet per day, approximately 5648 boepd.
Net to us I make that 2.46 million cubic feet per day or 424 boepd.
It is a trickle.
However, it is a trickle that has kept us afloat whilst the company tries to attract a partner for GPA.
Good luck
mrc_mrc_mrc_mrd,
From what I can gather 1MWh is equal to 3412 cubic feet.
So, our 2,460,000 cubic feet of production equals 721MWh.
If we take the €18 per MWh quoted for Q1 2021, I make that €12,978.
So, in sterling thats just over eleven grand per day
by my reckoning.
Do you agree?
Huge 101000 buy this morning !
Looking good going forward.
Expected news this week
Chart breaking out
See what trades print later
Moving now
Trades going in
News upon us