PARKMEAD GROUP

And here was me thinking you did not have a sense of humour.
So we can safely say that Toms interested in some of shells assets. That could well be gas.

Yes with Interpol, on the hunt for market manipulators who start false rumours deliberately to entice others to buy shares so that they can profit. You'd better get into hiding CSZ

Cross in talks at The Hague.

Ok, got it. Thanks for clarifying.

I think things are start to fall in place now for PMG. Valuation wise there is clear upside and further news on opportunistic acquisitions will drive the SP in the next months. The big question mark was always, can TC replicate what they did at Dana?

I think the current environment and TC's ability to execute deals will form the basis of exactly that.

Good luck!

Chouffe, I've never shorted PMG but I've been accused of doing so for years since it was about 30p before the consolidation. At the same time CSZ has also said I've not made money in my investments so he's just clutching at straws like he always is. He doesn't let things like the truth get in the way of having a dig.
I was asking questions like how this would get to 100-150p as predicted at the time when it had very limited cash, no production and no assets. I said it was overvalued and more likely to see single figures and was proven correct.
I simply asked CSZ to explain his regular stories that PMG would take over XEL or was in the process of, but as ever no answers from him, just digging up more historic lies

Out of all the garbage stocks on AIM you honestly pick PMG to short?

- at or near the bottom of the oil cycle
- company with no debt, significant liquidity and even some production
- one of the most respected management teams in the industry

Can you explain your reasoning. I am very curious to know.

Much better than the loan of the poster who you told to borrow to get n eat in PMG at about 25p! Did you ever get a thank you letter or post from him?
Remember I was predicting single figures from about 27p, the same time that you made your 100% promise of 10% gains in 3 days that never worked out. Just lies from you that started your continuous trend for the next 5-6 years now. You never did explain WHEN PMG got their share of Perth did you?

Kid
How is your short doing ! Ha ha ha ha

Charlois Bull was a clueless ramper so he fitted in well with you and a few others! Can you remember anything that he posted that was right?
So what do you have to say about your false rumours that you've been posting for ages now? TC taking over XEL is one that you be been posting as fact but turns out to be untrue just love me so many of your posts.
Starting false rumours to ramp a share is all that you can do

Charlois bull put you to the sword ! You have been bitter ever since.
I read Toms article in the Herald not long ago. It was a very good read... He is remaining positive that's more than ever can be said about you.

Yes it's in the rules and that spreading false rumours is not allowed. You've done it time after time so should be banned for life.
Charlois bull? Him that claimed Perth had no oil in it? Clever guy he was, also claimed that PMG would get their share of FPM profits because they were sister companies, not really how share holdings work is it? You liked everything he said too, shows your level.
What s your next false claim?

Now now banned for life... How dare you !
Charlois bull sorted you out on LSE. Eh no more oilyrag stories coming out now.

Remember I was the one saying single figures and you and others gave abuse for that claiming huge gain guaranteed. What happened what is the equivalent price now?
How often did you claim about TC taking over XEL? And it's all just another lie from you!
One of many though, you should be banned for life for your lies

Kid
Give me a shout when parkmead have bottomed out will ya cheers !

Again something that you've been making claims about so often for years now is not true and you can't bear to give an answer on it never mind the apology that the boards deserve.
There is a reason that you were called callsignliar and it happened again

Kid
Aye as often as Rupert Cole said XEL were going to production this decade !
Come on the. How low is Parkmead going to go next week..... You only appear like a bad smell when this share is drifting down.

PS Ask SoundMoney what he was thinking about when he recommended XEL a buy at £3.50 ? He probably sitting next to you !

TC disagrees with you on XEL takeover
He added: “The focus for us is very much on light oil.” In an interview with the Herald yesterday
Care to comment on how often you've said the opposite?

"Parkmead increasing stake in the Perth and Dolphin oil fields is a positive development. As a result of this step, Parkmead has increased its total proved and probable (2P) reserves by 19% from 23.5 to 27.9 million barrels of oil equivalent. The move has strengthened Parkmead's asset base in the centre of the major PDL oil hub project, one of the largest undeveloped oil projects in the North Sea. Last month, Parkmead acquired additional 50% equity in the Polecat and Marten fields. These fields are valuable to the company as they are located close to PDL and can be developed as part of the Greater PDL Area project. Meanwhile, Parkmead is analyzing opportunities across the UK and Netherlands, and remains focused on strengthening its position in the core areas of the portfolio. In light of these ongoing developments, we maintain a Speculative Buy rating on the stock."

Via Research Tree

North Sea
Parkmead boss declares interest in Shell North Sea assets, has $100m to spend
Tom Cross
Written by Mark Lammey - 15/09/2016 7:12 am

The boss at Parkmead Group said yesterday that the company was interested in North Sea assets that form part of Shell’s divestment plans.

Tom Cross, Parkmead’s chief executive and biggest shareholder, said the firm had “good relations” with oil majors and pointed out that his previous business venture, Dana Petroleum, had bought North Sea assets from Shell.

Shell is currently trying to raise $30billion (£22.7billion) through a three-year divestment programme to help balance the books after its takeover of BG Group.

Mr Cross said investors and banks were ready to back Aberdeen-based Parkmead to the hilt if the right acquisition opportunities came up, whether at Shell or elsewhere.

Parkmead is thought to have a sizeable war chest at its disposal.

Mr Cross said Parkmead was prepared to pay up to $100million per transaction – calling upon a mix of cash reserves and debt – but could go even higher when negotiating for a cluster of assets.

He said there were three strands to Parkmead’s expansion strategy. The firm either looks to buy from oil majors who want to divest “smaller” assets, or from rivals in financial trouble.

Parkmead also has a track record of gradually beefing up its stakes in fields it has already invested in.

The company demonstrated this yesterday when it announced an increase in its share of two North Sea fields to 60.05% from 52.03% − with struggling Atlantic Petroleum reducing its stake.

Atlantic, a Faroese oil and gas explorer, in May confirmed plans to offload its entire UK North Sea portfolio in the face of low crude prices. At the time, Atlantic boss Ben Arabo said the firm was switching its attention to projects in Eastern Europe and Eurasia.

Mr Cross said his team at Parkmead was “excited” about the recent equity increases in the Perth and Dolphin fields in the Moray Firth area, a move which saw the firm’s shares jump 10.91% to 54.62p on the London Stock Exchange.

The two fields are at the centre of Parkmead’s Perth-Dolphin-Lowlander (PDL) project.

PDL is one of the largest sets of undeveloped oil assets in the North Sea, with estimated recoverable reserves of more than 80million barrels.

Last month, Parkmead boosted its stakes in the nearby Polecat and Marten fields from 50% to 100%.

Mr Cross said yesterday: “We’ve been building our stake in a number of fields in this area. While oil is at a low point we are buying strategically important reserves at low cost. We are going to be well positioned to exploit the situation as things improve.”

He added: “PDL is going to be a very important project further down the road. As we have control of PDL, we can bring in larger partners for financing.”

Commenting on the Perth and Dolphin stake increases, finnCap analyst Dougie Youngson said: “We view this acquisition positively and hope that it signals a step towards moving this project into development. We maintain our Buy recommendation and our 80p target price.”

Shares mag buy - courtesy of alliance trust newsletter


Parkmead doubles down

Recent deal demonstrates M&A strategy
Tom Sieber

A buy-and-build effort in a depressed oil industry, underpinned by low-cost gas production, could be a winning formula for Parkmead (PMG:AIM).

As we have discussed on a number of occasions Parkmead’s founder and executive chairman Tom Cross’ plans to replicate the success he enjoyed with Dana Petroleum.

For those who aren’t aware of the background, Cross established Dana as an M&A-led play in the North Sea in the mid-1990s before it was eventually acquired for £1.5 billion by the Korean state vehicle KNOC in 2010.

Current market conditions are arguably supportive of Cross’ ambition as lower oil prices lead distressed operators to sell assets at heavily discounted valuations.

In its latest transaction (10 Aug) the company doubled its stake to take full control of Licence P 2218 in the Central North Sea, thereby increasing its exposure to the Polecat and Marten fields and boosting its contingent resources from 42.5 million barrels of oil equivalent (mmboe) to 59.1 mmboe.

Because these fields are located close to the group’s Perth-Dolphin-Lowlander hub project they could share infrastructure, improving the economics of their development.

Unlike a number of its peers the company is forecast to be profitable in 2017, largely thanks to its low-cost onshore gas production from the Netherlands.

Cantor Fitzgerald reckons the company will be sitting on net cash of £36.3 million by the end of 2016, suggesting there is still sufficient firepower behind its M&A strategy.

Shares says: "Cantor has a price target of 163p and we likewise think there could be considerable upside at 54.75p."

Highly accomplished and successful management team brilliantly led by T.C.
Slowly surely and cautiously building an extensive portfolio of oil and gas assets.
S.P. does not yet reflect the value or prospects of this company but give it a couple of years this could prove to be a highly rewarding investment.

GLA

I do hope so,
Parkmead and Cairn are the only oilies I continue to buy on the dips, all tucked away in my SIPP.
20 years from now will it be single malt or a blend from the local aldi...

http://www.parkmeadgroup.com/uploaded/research/FinnCap_Research_08.08.2016..pdf

Good luck to all holders, old and new.

Tom Cross eyes more North Sea deals as sellers ‘get realistic’ amid downturn

Tom Cross eyes more North Sea deals as sellers ‘get realistic’ amid downturn
Tom Cross eyes more North Sea deals as sellers ‘get realistic’ amid downturn
7 hrs ago / MARK WILLIAMSON
0 comments
TOM Cross is set to ramp up expansion at the Parkmead Group he runs by cutting more deals against a grim oil and gas industry backdrop after unveiling what looks likely to have been a cut price acquisition.

The oil and gas entrepreneur said the prolonged crude price slump is encouraging more firms to sell North Sea assets amid a growing acceptance that the downturn it has triggered could last some time.

“Six months ago several major companies had crazy high expectations in terms of price,” said Mr Cross. He added: ”People are starting to get realistic.”


Mr Cross was talking after Parkmead announced that it had acquired stakes in two big North Sea finds from Atlantic Petroleum, which decided to focus on other areas after incurring hefty losses last year.

Parkmead did not disclose the price it paid for the assets. However, analysts at the Panmure Gordon brokerage said: “We … expect that Parkmead will have achieved a good price from Atlantic, given that company's new strategic direction.”

The acquisition is the sixth made by Parkmead since Mr Cross took charge of the group in 2011, a year after a Korean firm paid £1.9bn for the North Sea-focused Dana Petroleum business he developed.

Mr Cross appears to be increasingly confident that the slump in the North Sea has created the opportunity to speed up progress in his attempt to build a business that could rival the success of Dana.

He said Parkmead is working on eleven potential acquisitions, around half of which are in the UK North Sea. The company could spend up to $100 million (£75m) on a suitable target.

The range of deals under discussion provides evidence of the scale of the upheaval that is underway in the North Sea.

Mr Cross said 50 per cent involve major oil and gas companies. Parkmead has been focusing more attention on talks with giants, at least some of which appear to be increasingly keen to shift resources from the North Sea to focus on big projects overseas.


Mr Cross, a former Entrepreneur of the Year, reckons there are a limited number of buyers for the kind of North Sea assets Parkmead is looking at that have the resources and track record required to complete deals.

Parkmead has cash in the bank and no debt. Mr Cross said major investors have indicated their willingness to provide funding for acquisitions.

He noted the downturn has taken a heavy toll on some firms of Parkmead’s scale, adding. “We are not distressed and a number of people are.”

Some firms have been struggling to service debts taken on during the boom that ended in 2014.

Parkmead has been eyeing deals involving firms that are facing big challenges.

The company is also looking at deals that would allow it to increase its exposure to favoured areas.

Part of the attraction of the deal to acquire 50 per cent stakes in the Polecat and Marten finds from Atlantic Petroleum is that they lie close to the Perth and Lowlander fields Parkmead hope to bring onstream.

The fields may be able to share production facilities.

Parkmead said the deal added 16.6 million barrels to its contingent resources, increasing the total by 39 per cent to 59.1mmboe.

Parkmead will need to do work to assure itself the fields concerned can be brought into production profitably before the resources can be classified as reserves.

Mr Cross remains confident that oil prices will increase as growing numbers of fields around the world run dry. But he said Parkmead can make good returns at the depressed prices that have been prevailing in recent months.


Brent crude traded at around $45/bbl yesterday, compared with $115/bbl in June 2014.

Parkmead is producing gas for $14 per barrel oil equivale

http://www.directorstalkinterviews.com/parkmead-group-plc-243-2-potential-upside-indicated-cantor-fitzgerald/412707790

Amazing potential here...

This also makes the 80p broker target seem a little light .
120p target for me on this news.

Exciting times ahead..

Through this acquisition, Parkmead has increased the Group's total contingent resources by 39%, from 42.5 to 59.1 million barrels of oil equivalent.

Polecat and Marten could be highly valuable to Parkmead as, given their close proximity to PDL, they could be jointly developed as part of the Greater PDL Area project.

Polecat was discovered in 2005 and appraised in 2010. The 2010 appraisal well was flow tested at 4,373 barrels per day of good quality 32-degree API oil. The Marten discovery was made in 1984, encountering three oil bearing sandstones of Upper Buzzard age.

Parkmead benefits from the large amount of existing data on the block, gathered as a result of wells already drilled in the area.

Farm in ?
--------------
Why not !

Farm in ?

OK so there are trades but no indication of direction: Buys or Sells?

...finally! Lets hope its something material and backed up with a nice RNS

3.5 million trades !

Something serious happening

Balticsalt
At the AGM Cross stated clearly his future intentions under the current climate ! He appears to be sticking to that game plan !
Better still go to the next AGM that way you will be able to hear it from the horses mouth. Instead of trying to belittle the company !

Agreed, it is all a bit disappointing. Management seems to have lost interest, they have certainly lost interest in telling the shareholders anything. I hope that Cross has not seen Parkmead as a toy that has not been as exciting as he had hoped and has effectively discarded it Not sure how much cash he has invested in this but I seem to remember that his loan was repaid by a share issue a while ago. Hopefully we will all be surprised sometime soon but this is now at around 3p in old money and is sitting at less than the net asset value of the business when Cross assumed control - that doesn't sound like shareholder value creation to me.

It's been said that nothing much is happening in the North Sea at present . Likewise with PMG . However why is Faroe , in the same sector , able to issue three RNSs last week , two of which involved successful oil discoveries and the other being a takeover . What is PMG . It just seems the world is passing us by .

I suspect most of us are down even though I am a relative newcomer. Just hoping that the pundits who say oil prices are very likely to rise more by the year end are correct!
--------------------------_------
Aye and the pundits that say it's not going up might they be correct ?

I suspect most of us are down even though I am a relative newcomer. Just hoping that the pundits who say oil prices are very likely to rise more by the year end are correct!

That old chestnut? If I've been shorting as much as you say I gave then how come I've no profits? I'd have made a fortune if I had. I've explained my PMG trades plenty just as you have yours. You hide from your past and lie about mine. Funny that

Kid
You are back to stir up trouble on the board cause you have shorted this share !
Good for you......
Tom has stated he is accruing reserves without producing. This to me seems a very positive step
as there is not a lot happening North Sea unless you are decommissioning !

CSZ what is that to do with PMG? You never manage to continue a thread because you make up lies then make up what I said and go off topic when asked anything.
I've gone bust because of nonprofits but you're going strong with 80% losses. Only you could discuss profits when your history has been posted for all to see.

Of Course you will be telling everyone you did not vote yesterday ! What can this board believe if you !