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I've been waiting for such a long time here.. and I only wish I had just one pound per every 'our time is about to come' post I've seen here in the last 5 years :-).. Yes folks we've been under 70p for 5 years now ...and this was over 300p approx 10 years ago don't forget .. so this has been an utter dog for so long, alas.. but they say every dog has its day .. and here comes doyley to tell us that day is soon upon us... hopefully he's right.. but there have been hundreds of doyleys telling us the same ad infinitum over those last 5 years... timing is everything in this game doyley will no doubt say.. my answer is actually extreme patience is more likely everything in this game.. so I hold and wait ad infinitum and throw in some range trading here alongside to stay sane as I wait..
https://site-1215390-6732-4671.mystrikingly.com/ Parkmead leading the moray firth SIG. estimated 2.7 billion boe as of 2020. Collaboration at massive scale.
Can anyone think of a North Sea Minnow with as much potential for share price gains as PMG? Dana Mk 2 would make this a 30 bagger from here TC has described PMG as Dana Mk 2 ‘on steroids’ Obviously macro is a bit tougher now
According to PMG "every $10/bbl increase in the oil price adds approximately £130 million to the P50 post-tax NPV of the Perth field development alone" so a little less (I think you've mixed $ for £?) , but certainly nice to have!
Finncap calculated the unrisked NPV for GPA as US$613m, when oil was at $55/bbl, and risked it at 25% to give a risked value of 103p/share.
Oil at $72.50/bbl as now equates to approx NAV increase of £57m (after risked at 25%), so another ~52p/share.
So just the increase in the oil price since the Finncap valuation (for GPA alone) is more than the current market cap!
Goldmans is recommending a "barbel strategy" for Oil and Gas investors which should include some exposure to more volatile names as well as cycle winners. Wont be long before funds start circling here. Every $1 on Oil Price adds £18mil to Nav of the hub. News due on multiple fronts. Funds will wait of course and buy in once news is confirmed.
News will come.
I am a lth and remember what Tom did for Dana.
Cash in the bank and many irons in the fire
I am sure this will multibag over the next few months as already up 50 % in the last 6 months.
Be patient and you will be rewarded
Chris
I would be happy with that for starters. Think the patient will be rewarded with multiples of that over the next couple of years so wouldnt be tempted to sell at all at that price. However, would be nice to see a re-rate. Crazy that this is so undervalued compared to cos like Kistos. Kistos 3x the mcap with £87 mill of debt and no where near the asset base of Parkmead. Just need our assets to derisk and we will be the next hot thing. This time in the duldrums is a great chance to accumulate a holding at great R/R
£1:25 by American independance day sounds about right !
A bullish statement from Tom six months ago, as yet still no clarity on the developments he alluded to.
Market is understandably skeptical after years and years of overpromising and underdelivering.
Fossil fuels are out of favour in general and Tom is seen by some as a dinosaur who got lucky with Dana.
I'm in the other camp, I see Tom building a solid base from which to grow, with no debt and a small number of shares in public circulation.
Just read Tom's comments again, he has no doubt that we are growing stronger each and every year
"I am pleased to report excellent progress in the six-month period to 31 December 2020 across the Group, despite our revenues being impacted by the low gas price environment. Parkmead has made significant advances within its asset portfolio, whilst retaining financial strength. This creates a very good foundation from which to build as the energy sector continues to recover from the COVID-19 pandemic.
Parkmead is already taking advantage of the strong position we have achieved, accelerating a number of growth steps since the period end.
We are delighted to be moving ahead, in principle, as operator of the Platypus gas development. This has the potential to add significant value to Parkmead.
Our team continues to work intensively to evaluate and execute further value-adding opportunities which could provide additional upside for the Group.
Parkmead is well positioned for the future. We have excellent UK and Netherlands regional expertise, significant cash resources, and a growing portfolio of high-quality assets. The Group will continue to build upon the inherent value in its existing interests with a balanced, acquisition-led, growth strategy to secure opportunities that maximise future value for our shareholders."
Platypus online earliest would be 2023......meantime Drill skerryvore exploration well next year..... GPA gone silent probably due to intense collaboration talks.
Oil heading for $80 dollars in 2021.Next year the economic forcasters are saying $100 a barrel.
Bring it home Tom !
Agreed. Platypus news imminent. I reckon we may give up some of Skerryvore to Cal for a bigger share of Platypus. PMG we know is to be operator of Platypus. It’s a well progressed project with lots of development work done already. Could come online quickly with Cals backing.
Licence expires in July for platypus I understand so should see some news there. Would be nice if PMG can increase their stake.
Forgot to mention.
Oil price at $74 COP for hub is $25 I believe
Gas prices at 5 year highs.
This is why Tom Cross and Warren Buffets Cal Energy are so hungry for gas. Platypus will be sanctioned without a doubt.
Macro aligning nicely. Massive draw announced yesterday as demand surges back
World realising that we have to get back to work
Oil Majors going woke and limiting investment in future supply as we focus on the holy grail of net zero
Workers (26% of them to be replaced by machines in next 10 years according to McKinsey) All requires massive amounts of energy to shift to capital intensive production and provision of services. We will need Oil and Gas as to play an important role in our energy mix going forward.
EVs likely to require massive amounts of electricity, which is still a scarce resource and infrastructure will take a long time to complete. Decades of lag imo.
Oil and Gas tech developing rapidly to make it much more environmentally friendly and importantly cheaper to produce.
Tom Cross is a quiet man. But you know what they say 'Beware the quiet man in the room'
Big plans afoot at Parkmead.
Tom Cross said in the results in March that excellent progress has been made on the GPA hub, Skerryvore and Platypus. We must have. News soon. Maybe ‘newsflow’. Maybe a ‘news rich period’ . Can’t wait. Tom Cross is in for nearly 30% of the company at a much higher price than current SP. some of the biggest skin in the game on AIM
Looks likely soon
Brent at $73 dollars now or there about and can see it going higher. This shift by majors away from new investment at first feels a bit worrying, but actually is going to throw up some massive opportunities for the more nimble (and liquid) minnows. Parkmead is ideally positioned. Can see a squeeze in Brent up to $80 fairly quickly and then a boom in prices as the world realises we are still dependent on Oil and Gas, and will be for years to come, coupled with an increase in demand at a time when production and future investment has been cut by majors. Who steps in? Super connected Oil and Gas experts like Tom Cross. I can see a few of the tiddlers coming good, but Parkmead is my favourite for reasons stated in my earlier post.
Great responses ab, doyle.
I certainly wont be going anywhere, happy to sit on. Given the detail in doyles reply i have some research to do.
Thanks
John
People seem to miss the scale of PMG projects. Big deals have loads of moving parts. Even more given current macro. Years of hard work go into these kinds of projects / deals and they are very complex. That’s why rewards can be mind-blowing. TC needs to be focussed and I am sure he is. He’s just not that worried about the share price like many of the less ambitious AIM CEOs His proof will be in the pudding. And it will be one massive pudding when it comes. And you can buy now with limited downside risk due to a great balance sheet. Fundamentals here are as good as they come. Cash in bank, producing assets, profit, cash flow, land. Well below NAV. People are just busy chasing shiny things. I for one am happy to hold for the massive returns to come. Agree some kind of FOSO like Enquest Producer could expedite the HUB but Scott could be bought very very cheaply given decomm costs and could also prove a great long term production solution for the hub. I reckon Platypus concept is being worked with new tech to be a net zero field. TC is part of OGA vision 2035 programme and he will be well versed in ways to manage the transition. Same Skerryvore. Partnership with Cal also seems to be developing and the terminology used suggests a team approach going forward. Teaming with Warren Buffet cash seems like a positive to me. Especially as both are so ‘gas hungry’ !!
Off = odd. Why on earth put the F key next to the G?
Astonishingly I have just consulted my iWeb account and appear to be a few quid up on PMG.
After 10 years not quite the Dana on crystal meth TC originally promised (I may have changed the off word in that sentence for comedy effect).
So.....is this ever going to happen, or at least are we going to avoid the**** up that was/is Hurricane Energy (please supply your own 4 letter word)?
I doubt anyone will buy Scott now. Maybe a couple of years ago, or as you say with PMG licences in the mix. In theory ENQ doesn't need Scott and could buy into Perth and develop stand alone with the Enquest Producer.
Slap a sweetening module on it and off you go?
Doubt CNOOC will have anything to do with it, they have been trying to sell Scott since last year.
I suspect whoever buys it (assuming someone does, Enquest and Sinopec have been mentioned) will be the kingpin in the deal.
IMHO the recent rise in SP from mid 30s to mid 40s is solely on the gas price increase.
I expect platypus and renewables this year, Dutch drilling next year, potential skerryvore drill next year.
Maybe GPA next year if POO stays high and CNOOC have a big budget to spend.
Gas and oil prices high again. There are so many different potential news flows here it’s hard to imagine that we won’t get something big soon but this waiting is very frustrating. Could come from so many angles: GPA could cause massive rerate, as could a good Platypus deal and plan (we know this is very well progressed) Skerryvore has huge potential too and we know the Dutch field have significant development potential. Price of Dutch TTE back to 5 year highs! Then TC has also said they have been investigating 13 different potential acquisitions. None of this is priced in. Massive potential for a genuinely large rerate. Have been holding for years now. Tom Cross has described Parkmead as Dana mk2 on steroids. He sold Dana for £1.6 billion!!! He is also on record as saying that PMG have made excellent progress on all major projects recently. Limited downside and massive upside. It might be frustrating but I wouldn’t want to be out trying to catch this by the tails when it finally goes. Book is tight too so it moves quick.