Discussion

Roadster
Pennies...... Nothing !

I know , it's just frustration . I bought 2000 shares the other day at £2.52 or thereby thinking that's as low as they'd get and then ........

Roadster66

Nay bother roadster..it will come good as Mary M said market makers knocking out the stops + has come down to the price TC raised..the $60 million = £2-53 a share...hence a bit a of dilution that's all.

EARTHLY

Just the market seeking out the stops.Volume is the true indicator and for PMG that would mean north of 350K daily trades.A few things in the mix, budget next Wednesday and the Wood report both could influence where we go from here. Good luck.

Come on TC .....lack of news is killing this share . Remember , we own the company too !

pdab09
I was referring to the shareholding that PMG have in FPM.. otherwise quite agree with your comment. cheers.

EARTHLY

Earthly - I certainly hope it doesn't 'err' well - as a long term holder of PMG and FPM I'd rather see them both do well!

great excitement on the Faroe board...which errs well for PMG's holdings...


Last trade:
119.50

Change:
ª 12.25 (11.42%)
Volume:

11,751,556
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EARTHLY

Major shareholder in Faroe Petroleum - Dana Petroleum plc, 48,055,825 shares, 22.59%

Believe Dana inherited this from TC's days there?

In Investors Chronicle again this week. They love this....

Finance director Ryan Stroulger has purchesed £120,000 worth of shares and Non-director Philip Dayer has purchesed £50,000 worth of stock.
And Tom Cross has exercised 2.1 m share appreciation rights (SARS) at a cost of £488,250 to take his holding to 18.8 Millions or 21.5 percent of the company.

Buy at £2.70.

Lowlander (Faroe 100%) and Perth (Faroe 34.62%) estimated2 to contain 270 mmboe of oil place, ‐ ready appraised, 62 mmboe recoverable
________________

I wonder who will be top dog in developing the area !!! and how much TC can squeeze from Faroe ?

EARTHLY

Graham Stewart –Chief Executive
•
Instrumental in founding Faroe Petroleum in 1998
•
Over 25 years’ experience in oil and gas technical and commercial affairs
•
Previously finance director and commercial director at Dana Petroleum from 1997 to 2002
•
Experience with Schlumberger, DNV Technica, Petroleum Science & Technology Institute
•
Offshore Engineering degree (Heriot‐Watt University) and MBA (University of Edinburgh )
___________________

EARTHLY

c&p from the Faroe board

No existing facilities in the area allow production of sour crude oil1.
•
Faroe and Parkmead plan to bring Perth and Lowlander to development as a joint project sharing the same facilities and benefiting from significant economies of scale
•
Lowlander (Faroe 100%) and Perth (Faroe 34.62%) estimated2 to contain 270 mmboe of oil place, ‐ ready appraised, 62 mmboe recoverable
•
Considerable value upside exists in adding additional volumes from the area
•
An FDP for Perth was already submitted in 2011, agreed in principle by DECC
•
Work underway towards preparing the joint FDP – scheduled for 2015
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EARTHLY

Time they get their comeuppance.
jr

http://www.bbc.co.uk/news/uk-26367166

Wood Review: New regulator key solution to UKCS woes


Ryan Crighton, 25th February 2014

inShare.3




Related Articles
Final instalment of Wood Review due for submission
Wood Review: North Sea needs new regulator to continue success, says Sir Ian
Sir Ian's prescription for oil and gas prosperity
Wood Review: New regulator gets Scottish Government backing

The new oil and gas regulator to be set up on the back of the Wood Review will spearhead the hunt for oil off the Hebrides, it has emerged.

Among the 29 action points drawn up by Sir Ian – which have been backed by Prime Minister David Cameron – is a plan to “make the most” of new plays around the coast of the UK.

He wants the new body to “work closely” with the industry and the Treasury to evaluate new areas – including west of the Hebrides – and help “ensure they are explored and developed”.

He said it was apparent that there is a reluctance amongst many explorers to pursue the region – something the new regulator needs to tackle.

“This (reluctance) reflects lack of good seismic data and geological information, insufficient sharing of existing data and geological information, and the inherent commercial risk of these highly uncertain opportunities,” he said.

“The regulator has a unique role to help facilitate new play opening activities such as West of Hebrides and should actively seek to create and encourage joint ventures to pursue such opportunities.”

Energy Secretary Ed Davey said yesterday the new body will be operating by the autumn and a chief executive appointed by the summer of this year, with the necessary legislation for the establishment of the new oversight organisation being brought before the next session of Parliament.

The incoming boss will be met with a substantial to-do list, drawn up by Sir Ian.

One of the first issues will be where to locate it. Sir Ian said yesterday that 75% of the current department’s work is done in Aberdeen, and that it would make sense for the new body to gravitate towards the north-east.

But the Scottish Government has suggested the new regulator could be split between Aberdeen and Glasgow in the event of a Yes vote in September’s referendum.

Another issue is funding. Sir Ian believes it will have to be funded by industry, but that may face opposition from companies which are already heavily taxed.

Stimulating exploration will also be a key issue for the new body. The new boss will also have to harness new powers.

The chief executive will be able to force firms to share information – and even assets – for the greater good of the UK Continental Shelf. Those failing to do so could face tough new penalties, and could even lose their licence.

Sir Ian said: the development of the UKCS must continue to be led by the operators, who “provide the significant investment of funds, expertise and experience”. “The proposals and limited new powers are much more about stronger and better stewardship, establishing standards and procedures for collaboration and dispute resolution, as opposed to more regulation,” he said.

“The new Regulator’s role will be licensing, supervision and stewardship. It must be low in bureaucracy, high in skills and experience, and strong and pragmatic.
“It must be the catalyst for maximising the economic recovery by facilitating, co-ordinating, mediating and promoting collaboration, removing barriers, and encouraging more efficient exploration, development and production.”

Watch our interview with Malcolm Webb, chief executive of Oil & Gas UK, sharing his thoughts on the new regulator.

http://www.woodreview.co.uk/documents/UKCS%20Maximising%20Recovery%20Review%20FINAL%2072pp%20locked.pdf

interesting read MM

http://www.dailymail.co.uk/money/news/article-2565605/North-Sea-oil-companies-drill-maximise-production.html

Nm

Sdoglyons, Welcome

Yesterday. Really excited about this oppeetunity!

Currently in talks for a semisubmersible for the appraisal and work over of the above fields.
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Jollyminer
What a terrible time this weather is causing ops that are tied in with rig moves.....heard a few rigs have been waiting for sea state and high winds to calm down....6 weeks in situ....and canna move !
How ever parkmead have selected a calm period in the summer for there hire of a semisubmersible for future ops Perth/Athena.

Mean while Xel still staying stum over ther impending partners....Statoil ? T-Shack says doubt it.

Must be different industries, GC! I remember many years ago when I worked for the (dearly departed) TI Group and they did the exact opposite, a share split. It was a tea lady who went around telling everyone to sell their shares as the company was going bust (we had a share option scheme). Fortunately no one listened to her and when we were taken out sometime afterwards by Smiths Industries, some of the good old boys who were holding their shares since the 60's at 6d (yes, old money) were sitting on a 200 bagger. If TC could deliver a c10 bagger from here a la Dana, he would make me a very happy man.

All very entertaining..looking in and there's me just waiting for a parcel delivery from the delectable..gorgeous etc.. Mandy..down boys..LOL

EARTHLY

Wonder if that's where Csz gets his from?
Come on Zulu what's the news?
We going heavy or what?
Jm x

well wotan, you might be surprised to hear this but its a well known oily patch fact...

all the best stories and rumours always begin life in the Galley or the T-Shack...

"Dana is the most disorganised, cash degenerative companies I have ever worked for..... Triton (and the connected fields) being the only real (operating) asset in the North Sea (currently) and it's shut down, been that way for 6 months and no end to the technical issues in sight. Dana as a whole are shut in because of this." ___\___\____\__\___\___\___\ - Well, GC, I wish I'd worked with a tea lady with that knowledge and insight of company activity!

given where you work and the knowledge / insights you have why don't you let us know what's going on with Pharos?
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perhaps he/she works in catering... hence the question...


it's a bit like our biggest detractor (wikkid) telling his 'audience' he is...

''highly experienced in the global oil and gas industry and has worked with Shell, BP, Conoco Phillips and Total all over the world''

when in fact the reality is...

he makes movies...

Maybe he doesn't work for them . He did say "I have ever worked with"....not for .

Given where you work, sharebrained, and the knowledge/insights you seem to have, it's surprising that you felt the need to ask the question at the start of this thread. After all, Dana is the same company in law, just a change of ownership, there must be plenty of info re share price movement, share issues and borrowings. Also given where you work and the knowledge/insights you have, why don't you let us know what's going on with Pharos? The out turn on that will be important to PMGs future performance.

Far be it from me to argue with any one in the oil business, but as an investor, didn't Tom Cross take quite a few of his most experienced colleages with him when he moved to PMG ?
I was one of his grateful pensioner widows who did very well out of DNX, and (fingers crossed) continue to be doing well with PMG.

Ann

ZULU
The Western Isle..is obviously the place to be for those that can afford the equipment ! Talk about big boys toys !!! you don't spend that sort of dosh without doing your sums.
Where next for us ?

EARTHLY
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Earthly
Tom still has an appetite..... Look for some small outfit that is obviously producing that catches his eye.

ZULU
The Western Isle..is obviously the place to be for those that can afford the equipment ! Talk about big boys toys !!! you don't spend that sort of dosh without doing your sums.
Where next for us ?

EARTHLY

productively producing water maybe

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yeah most oil wells produce water along with oil together.

not sure id agree, dana is the most disorganised, cash degenerative company i have ever worked with. dana got the deal of the century. triton (and the connected fields) being the only real (operating) asset in the north sea (currently) and its shut down, been that way for about 6 months and no end to the technical issues in sight. dana as a whole are shut in because of this.
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not sure i agree :
http://www.dana-petroleum.com/MAJOR-PROJECTS/WESTERN-ISLES/WIDP-UPDATES/Ocean-Nomad-anchored-/

There web site also says they are producing 50,000 boepd......I would certainly not turn tht down !

productively producing water maybe

What about the Kittiwake... Wasn't Goosander its most productive well last year?

An ex shell asset that SHELL will pay the decommissioning costs on...

not sure id agree, dana is the most disorganised, cash degenerative company i have ever worked with. dana got the deal of the century. triton (and the connected fields) being the only real (operating) asset in the north sea (currently) and its shut down, been that way for about 6 months and no end to the technical issues in sight. dana as a whole are shut in because of this.

Hi dykerlad. You can find empty end, tournesol and a few others on Stockopedia, mainly posting on Soco. I follow as I put a lot of Dana money into Soco, but have greatly reduced it now. They are a bit sniffy about Parkmead, be interesting to watch developments if we break out Dana-style.

Agreed wotan

I wonder what ever happened to JimNasium, The Great Geraldo et al?