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What's going on folks ?
Please fall futher so I can buy more.
Rick Rule is spot on in this video
https://www.youtube.com/watch?v=hrLcU_PrujI
Best not to think.......you are misleading !
I think news next week takes us over 80p
Technicals looking good here. After a small pullback to 43.50, we are back to the previous high reached two weeks ago. A strong break through resistance of 48.50, will provide the momentum to take us to 80p and possible higher. I do like the small pullback over the last two weeks, its means that selling was weak, and buying/demand strong, and also the the quick rebound is a good sign. However, we havent broke resistance yet, so it may sit at this range for another week or two. Fundamentally, price is far below NAV. Almost perfect setup here, strong techincals and fundamentals. Best fundamentals are the the ones earning of course, but cant have everything. Only a matter of time I'd say. But DYOR of as always.
At 70 bucks be disappointing if there's not !
Definitely feels like news must be on the way very soon!
thank you robs12
easp or anyone - can you post IC article or snippet please?
Thanks
Undoubtedly, but I think we have a few boom years in store before it all comes crashing down again. Particularly in commodities where I think we are at the start of a long period of high prices.
Boom will give way to bust: The post-pandemic bounce will generate real wealth... but it could end bloodily, says ALEX BRUMMER
https://www.dailymail.co.uk/money/comment/article-9538279/ALEX-BRUMMER-Boom-way-bust.html
Parkmead have announced they are not looking for a replacement for Dana. Is this because they have another company lined up to farm in or are they going in with Cal energy alone ?
A late Friday RNS to keep it low key....looks a good fit.
Sit and wait for me..can't be doing with trying to time the highs/lows. Just confident the value will out at some point soon.
GLA.
I am also out at the moment and hope to buy in again a little lower. Ride up from 29p and sold at 46p so happy either way.
Hopefully will get a chance to buy back in though as I really like the assets. Confident that TC will realise value here.
Good luck everyone.
Board beefed up for corporate action
An interesting couple of weeks. A week back I sold 2/3 of my stake around 47p as the sp had risen sharply on little news other than an Inv Chron article. Late this afternoon after a couple of days of falls I bought some more as I felt the oil and gas sector likely to have a good year. I made a few quid on the trade as is my way while I understand others are long term holders. What is the future? Hoping the oil assets we hold in the north sea come up trumps and eventually someone makes a bid. The latter some years off imo.
Tommy come on tell us the good news !
Goldman Sachs expects global oil demand to realize the biggest jump ever over the next six months, the investment bank said on Wednesday, keeping its bullish forecasts for oil prices this summer.
Higher demand for travel and acceleration of vaccinations in Europe are set to result in “the biggest jump in oil demand ever, a 5.2 million barrels per day (bpd) rise over the next six months,” Reuters quoted Goldman Sachs as saying in a note to clients.
Goldman Sachs continues to see oil rising to $80 per barrel this summer and says that “The magnitude of the coming change in the volume of demand -- a change which supply cannot match -- must not be understated,” as carried by FXStreet.
At the beginning of this month, Goldman also issued a bullish note, saying that it anticipated strong demand that would require OPEC+ putting another 2 million barrels per day (bpd) on the market in the third quarter, after the around 2 million bpd that the alliance and Saudi Arabia decided to return between May and July.
robs12 it’s an interesting link between PMG/FPM/LBE and I thought they might be interested but LBE seem to be a bit more focused on Norway from the look of their presentations. Guess we should find out soon enough.
Just to add...I'm sure most regular posters here know that Faroe Petroleum (FPM) were bought out by DNO in 2019, and the management team are now largely at Longboat...and that FPM had a big interest and were very keen on GPA.
Maybe another opportunity to join the dots... ;-)
Welcome Richardsonnn, we'll look forward to your useful contributions and analysis given your long term knowledge of the company...
But those were the days... I first bought into PMG 6th August 2010 (before TC joined, but after he'd invested in it).
Posted about it a few days later in another place, but will repost now for a giggle (especially the last line!):
"Looks like I'm on my own here, and the spread is still ridiculous, but here's some thoughts on Parkmead Group (PMG):
A good place to start is here (which though over a year old, gives an idea of what they are about):
http://www.iii.co.uk/articles/articledisplay.jsp?article_id=10034142§ion=ShareDealing
Current situation is they hold 4,377,039 shares (2.51%) in Faroe Petroleum (FPM). At today’s bid that is worth £7.22m.
Net cash at end 2009 was £3.2m.
It also owns a company (Aupac, since end 2009) providing petroleum economics consultancy services, so presumably maybe even a little income.
PMG has 603,635,898 shares in issue. At today’s bid that is £7.55m
So looks like good value for money, and if nothing else, a little leverage in FPM with drill results about to come in from Anne Marie (which would have very significant effect if positive!).
Dana Petroleum (DNX) owns 27.5% of Faroe Petroleum .
Tom Cross (CEO of DNX) & spouse own approx 28% of Parkmead - largely through shares they acquired due to the takeover of Aupac, of which they owned 66%.
In June 2009, both Tom Cross & Colin Goodall (Parkmead Chairman, & also Chairman of DNX) put £100,000 each into Parkmead, buying on market at 1p/sh.
So has been a very poor show since it was formed (when SP was ITRO 9p), and it looks a bit of a one horse play on Faroe Petroleum....which could make it a little exciting in the near future...
... but I am wondering what comes next (when/if DNX gets taken out & Tom Cross is looking for something else to do)?"
...........
And so it transpired. Did very well out of that, and then actually shorted PMG when it all went a little OTT soon after TC joined - the only share I've ever shorted - did well out of that too.
Didn't buy back in for many years though - 2018.
Hope the wait will be worth it! GLA!!
I have held shares in this company for 11 years. They have gone nowhere.
-------------------
Find that hard to believe as 11 years ago Parkmead didn't have an asset base.so here we are at today's Parkmead portfolio........ Risked £1.62 unrisked £16
I have held shares in this company for 11 years. They have gone nowhere.
Hmmmmmmm?
One post, probably Lucky Counts part two.......don't invest then, take your one comment history somewhere else!