Buying Opportunity
We believe that Parkmead is easily the premium junior oil & gas company in Europe, based on the quality of the company’s assets and the successful track record of its management team. The company is positioned to grow shareholder value, which we believe will translate into systematic increases in our valuation and target price. The current share price provides investors with the opportunity to acquire stock at an unwarranted 43% discount to our 380 p/share target price. We believe the current situation represents an excellent opportunity to acquire Parkmead shares and we reiterate our buy recommendation.
 2014 recap: Since the beginning of the year, the company raised $66 million (£40 million), reported a maiden half-year profit and closed the acquisition of 20% of the Athena field from EWE. The company’s cash reserves (c. £51 million) are being strengthened by the daily oil & gas production from its assets. Behind the scenes, the company has been focusing its attention on assessing and applying for opportunities in the UK 28th Licensing Round.
 Closing the EWE deal: We feel that the market does not fully appreciate the extent of the value created by Parkmead’s acquisition of 20% of the Athena field from EWE or the capital efficiency with which Parkmead completed this deal. Due to opportunistic timing, efficient tax structuring and the exclusive nature of the sales process Parkmead was able to acquire producing assets worth $42.6 million at the time of closing (10 April 2014) for $2.7 million in cash and 0.3 million Parkmead shares. We believe that the consideration paid to EWE by PMG was close to the balance of receivables and unsold inventory in respect of the acquired assets at the time of closing. We thought the equity market might have been worried about the deal being too good to be true and potentially at risk of being scuppered by a rival bid. However, it is worth pointing out that Tom Cross has never failed to complete an oil and gas deal in his 20-year history of running publicly-listed oil and gas companies. When the deal was announced on 30 December 2013, Parkmead shares were re-rated upwards to almost 300p, which we felt was a suitable adjustment. However, we are at a loss to explain the recent share price dynamics based on fundamentals. We estimate that the value created by securing this transaction amounts to 27p /share. We calculate that the assets acquired through this transaction (20% of the Athena field) are currently generating operating cash flow of $2.3 million per month.

I managed to find this fund http://www2.blackrock.com/content/groups/uksite/documents/literature/1111188867.pdf
IF Danawinner is real then he must be one of the people in this document.
Funny thing is that they hold 147 medical centre properties with a total value of £320M which is an average of just over £2M. Danawinner suggested that they were £3.5-4M each but up to £20M. There isn't any mention of the '10 houses in the garden' that he said they do either, its all offices and warehouses and retail. So he was a fund manager but doesn't know the prices of what he bought or what the property boys do really. I wonder if he will answer or even post again

If only there was some way of working out which Blackrock fund has around 200 medical centres in it?
Then we can see which fund manager has left recently and know exactly who the poster really is.
Maybe you could ask him on LSE which fund he was part of?

Wikkid , wouldn't disagree too strongly with what you say . However I do have something in common with Danawinner ...I too have a penchant for Bentleys and in common with him I don't own one either .

If Danawinner was TC or someone close to him he would have far less errors in his posts IMO. His first post said that TC invested £25M of his own money in PMG which I asked him about and he said that it was in the annual report but when I asked him what page he couldn't say. Im not too sure about his comment on UK companies not wanting to undercut the Russians either. Isnt the gas price set by the wholesale market a bit like shares rather than one company or country offering to sell it cheaper?
So many problems in his posts that its obvious that hes not got a clue really. Didn't he mention that he expected some news at the AGM? News that has to come via RNS? There are many others

At last calm breaks out. C.Stanley research out a short while ago, good stuff.

Charles Stanley Securities Breakfast Bite



Parkmead Group (PMG.L)* Price: 230p / PT: 380p (n/c) Buy (n/c)
Our View: Ithaca Energy announced its Q1 2014 results in which it stated “The Athena co- venturers have awarded a contract to Diamond Offshore Drilling (UK) Limited for use of the Ocean Princess semi-submersible rig for the planned “P4” workover to replace the ESP package in the well. The rig is anticipated on location in the third quarter of the year, once it has completed its scheduled work programmes for prior clients.” We believe that fixing the P4 well will be a material catalyst.
As a reminder, Parkmead holds 30% of the Athena field. In our target price we have assumed that the P4 well will produce at a rate of 1,800 bbls/d (gross) once the ESP package is replaced. This was the rate at which the well was producing when the ESP failed. However, reservoir pressure increased considerably in the period prior to the ESP failure, which suggests to us that the well may be able to produce at a materially higher rate. We are excited that the balance of risks favours outperformance relative to the assumptions in our target price.
We reiterate our Buy recommendation for Parkmead and our 380p/share target price. The current price allows investors to acquire stock in what we believe is Europe’s pre- eminent junior oil and gas company, based on its management team and assets, at a considerable discount to the company’s fair value.

The Parkmead Group plc
("Parkmead", "the Company" or "the Group")

Parkmead Awarded Five New Blocks Offshore UK

Parkmead is delighted to report that it has been provisionally awarded five additional UK blocks, through two new licences, in the second tranche of awards under the UKCS 27th Licensing Round, the results of which have been announced by the Energy Minister. This newly awarded territory is all operated by Parkmead and is situated in the UK Southern North Sea.

This award follows on from Parkmead securing six new licences covering a total of 25 offshore blocks in the first tranche of awards under the 27th Licensing Round. These blocks cover opportunities across the Central North Sea, Southern North Sea, West of Scotland and West of Shetland areas. Parkmead's experienced geoscience team has already begun various work programmes across these licences, with seismic and detailed mapping work underway.

As a result of the new licence awards, Parkmead's total number of oil and gas blocks across the UK and the Netherlands has increased to 53, with 39 of these operated by the Group. The total award of 30 blocks spanning eight licences in the UK 27th Licensing Round has increased Parkmead's asset base and added to its growing and balanced portfolio. The Company continues to build its presence in the Southern North Sea. Parkmead now holds large acreage positions with a number of exploration prospects indentified in addition to the Platypus gas field and the recent gas discovery at Pharos.

Five New Blocks in the Southern North Sea

Blocks 42/20, 42/25b, 43/16 & 43/21c (Parkmead 33.34% and operator) lie to the north of the Ravenspurn fields and are located in close proximity to the Kilmar and Garrow gas fields. These blocks already contain a Carboniferous gas prospect, Farne, as well as a further lead and a gas discovery. The work programme consists of obtaining 2D and 3D seismic data and conducting detailed seismic attribute analysis, leading to a drill or drop decision. The joint venture partners on these blocks are Ithaca Energy Limited and Bridge Energy Limited.

Block 43/10 (Parkmead 50% and operator) is situated immediately to the north west of the Cygnus gas field. The block contains plays at both Permian and Carboniferous level. Several prospects and leads have been identified, the most significant of which to date is the Carboniferous Axford prospect. The work programme includes 3D seismic inversion and seismic attribute analysis, followed by a drill or drop decision. Parkmead's co-venturer on this new licence is Bridge Energy Limited.

Tom Cross, Executive Chairman of Parkmead, commented,

"We are delighted with these new licence awards, which increase Parkmead's total number of blocks to 53. The new blocks provide an excellent addition to our Southern Gas Basin portfolio, where Parkmead already has the Platypus gas field and recently made an important gas discovery with the Pharos exploration well.

Parkmead's success, with a total award of 30 blocks across the UK's 27th Licensing Round, is a direct result of the skills, experience and strong track record of the Parkmead team."

CSZ why would I want to answer you?
1. There is overwhelming evidence that you are up to no good
2. You never answer anything yet you always like to ask questions
3. Why did you get banned from LSE where you posted as Funkfeet (Fungalfeet)

Wikkid22
Why did you get removed from the LSE board ?

A few points CSZ
I have yet to be shown to tell anything but the truth
YOU have had many of your posts proven to be lies
I warned people that I felt PMG sp was overpriced and it fell
YOU 100% promised that it would rise and it fell. You even told someone to get a loan to invest because the returns were so assured
I stick to facts about PMG
YOU feel the need to make things up that never happen
I post links and c&p of you previous posts to show how ridiculous they are now and always have been
YOU make up things that I supposedly said and fail to show where I said it anywhere apart from in your mind
I have never hidden from any of my posts or my posting history
YOU refuse to acknowledge or discuss any of your previous posts because they were all so poor
YOU ramp lies based on something that a year old article don't even say on one board yet post complaining when someone on another board uses a couple of months old article to back up his belief
The only time you've ever 'GOT' me is because you are a shareholder and I'm not? But I've always posted that I don't hold PMG shares until I see value so hardly a big scoop there is it? Mind you, you can't and won't prove that you actually own any so it's probably a lie anyway.
YOU have all the traits of someone working in a boiler room unless they have suddenly turned go being truthful lately?

Oily rag
Must be quiet in the boiler room tonight your replies are coming back faster all the time. Lol

Fungalfeet, stop posting replies to me then and I'll just stick proving every time you lie. I'll stick to the truth.
Can't prove won't prove is your motto. That's what happens when you lie!

Oily rag
Why keep asking why ? If you are not a share holder why would I answer to a boiler room employee ?
Tom Cross has sat down with every oil company that has assets for sale in the North Sea. You prove me wrong if you can ?

Why can't you prove anything you claim I said then and why do you keep posting lies about PMG? That's not very honest is it?
Prove any of the things you claimed today that I said. Shouldnt be hard no should it?

Oily Rag
Your boiler room is sophisticated to store all informations for Any Agendas you have in mind.... Plenty happening for Parkmead at any time.
Xel nothing doing there till Xmas that's why I'm shooting down your fellow colleagues. They stand out more than you with out making it obvious.
I hate people squandering there hard earned cash on pump and dump schemes I guess I'm far to honest !

You need help again? You're selective memory playing up and you forgetting about your posts as Funkfeet on LSE before you got banned from there?
Your level of posts hasn't improved has it? Come on prove anything that you claim I said? A link would be fine. I can do it about your posts why can't you? If you were telling the truth you would be able to

Oily rag
Now now calm down you will get thrown off here as well with your obstructive Agenda.... Maybe have to put out a SOS for Charloisbull to have words with you !

You are a compulsive liar. Can you prove anything that you claim I said?
I thought it was 100% promised to be 30p by Friday 3 years ago?
Just one of you first PROVEN lies, many more followed.
Go on prove that I said any of those things. Put up or shut up CSL

Wikkid22 AKA. Oilresearch

Thrown off LSE for aggravating the members. Telling Lies and saying Parkmead would never get off the ground.
You will forever be proven wrong.
This share can and will fly at any time and all shareholders no this is a dead cert over time !

I've never claimed to be. I gotcha about your lies

Wikkid22
GOTCHA.........

What does that have to do with you and your lies? Why not concentrate on proving what you e said?
Back to the boiler room CSL

Wikkid22
I am a Parkmead share holder ! Are you ?

More lies? I never said either of those things.
You need to stop telling lies it's been a habit for a long time now.
Is the truth so bad that you have to make things up? Now how do you prove about TC and BG or any of your other claims?

Wikkid22
Parkmead did buy out Lochard Energy and build a stake in the Athena field. All of which you said would never happen.
You need to get in touch with Miley Cyrus .
Oh no don't bother it's twerking she does not twerping !

No it's up to you to prove that he has like you say!
Or is this just another lie to a add to your long history of false posts?

Kid
If it's getting too much for you. Prove Tom Cross has never had talks with BG Group. So put up or shut up !

A 2013 note that says nothing like what you claim it does?
You have to be having a laugh. Everything that you complain about others doing on XEL board is exactly what you are doing here.
Give up the boiler room job it is really affecting you.

By Esther Armstrong | Fri, 15th November 2013 - 12:02

Despite first being discovered in the 1980s, some oil fields in the Central North Sea still remain undeveloped.

In many cases these fields are considered too technically challenging, or not worth the effort by oil giants including BP (BP.), Royal Dutch Shell (RDSB), and BG Group (BG.).

But now, a number of juniors are looking for a slice of the pie, and these undeveloped fields look like a good place to start.

One of these, AIM-listed Parkmead Group (PMG), has recently been repositioned by chairman Tom Cross, who left Dana Petroleum following its hostile takeover by the North Korea Oil Corporation.

Before his departure, Cross founded and developed Dana Petroleum into a $3 billion (£1.87 billion) business in just 16 years, and has high hopes to do the same with Parkmead.

His strategy in the North Sea is to acquire companies and licences with proven assets and work out the most commercially-sound ways to exploit them.

Parkmead released its interim results on Friday, reporting a net oil and gas production growth of 400% in the year ending 30 June.

On the trail

To this tune, Cross has overseen five acquisitions since starting at Parkmead, with one of the most notable being the £12.7 million acquisition of Deo Petroleum back in August 2012.

This netted Parkmead a 52% stake in the Perth field in the Central North Sea. Perth was originally appraised by Hess between 1992 and 1997, and tested at rates varying from 1,000 to 6,000 barrels of oil per day (bopd).

The field is termed a "low deliverability" discovery, with total production expected to be about 12,000 bopd initially. While this is considered a drop in the ocean for oil majors it would be a significant leap from the Parkmead's current production.

Another successful acquisition came in the form of Lochard Energy (LHD), which Parkmead made an offer on in May. Lochard was another AIM-listed independent oil and gas company focused on the UK Continental Shelf (UKCS).

Parkmead is led by the highly successful entrepreneur Tom Cross, who is applying the same strategic model he used to grow Dana Petroleum from scratch into what became the largest independent oil and gas company in the UK.
Brendan Long

Its principal asset was a 10% stake in the Athena field, which produces around 9,000 bopd.

Control of Lochard has given Parkmead this 10% share (900 bopd) and has helped with cashflow to continue Cross's acquisitive strategy.

The £15 million takeover bid saw some opposition by large shareholders, who felt the offer "materially undervalued" Lochard Energy.

In June, Parkmead clarified it would not increase its offer because it felt its due diligence would not allow for a greater price. The deal was completed in July 2013.

A more co-operative partner has been found in Faroe Petroleum (FPM), which Parkmead has a 2.06% stake in, and which has a 34.62% interest in the Perth field.

Faroe also has 100% working interest in the adjacent Lowlander field, following the acquisition of the remaining 50% earlier this week.

Parkmead and Faroe hope to work together on a joint field development between Perth and Lowlander, with shared production facilities that could serve as a hub for other nearby discoveries.

Analyst view

Jack Allardyce, analyst at Panmure Gordon, said: "Faroe has acquired the remaining interest in the Lowlander sour oil discovery, which is expected to be developed jointly with the Perth field. We increase our target price to 195p from 188p and retain our 'buy' recommendation."

Broker Jefferies' latest industry note on Faroe describes the appraisal wells at Perth and Butch (an oil field off Norway) as the company's key catalysts over the remainder of 2013 and first quarter of 2014. It cites Faroe as a 'buy' with a price target of 200p.

Similarly, on Parkmead, Jefferies has a 'buy' rating with a price target of 18.5p, but states the growth strategy is heavily cen

Hi, have you a link for this. Plenty on the Repsol situation and on BG selling NS assets but nothing that links PMG to BG assets.
Thanks.

North Sea of change for Talisman and BG Group?

Spanish oil and gas company Repsol is weighing up a takeover of Canada’s Talisman Energy. Calgary-based Talisman owns just over half of North Sea joint venture Talisman-Sinopec. Repsol and Talisman both confirmed they were in talks. Meanwhile, the UK’s BG Group refused to comment on speculation it is seeking buyers for operations in the North Sea as […]

http://www.energyvoice.com/2014/07/game-changer-tax-break-boost-north-sea-exploration/

If only you would address the other points in the post

If only you had Patience.

Boiler room activities just like the ones that yourself and other have been doing here for years? Youre not trying to say that Putin is responsible for your dodgy posting past is he?
PMG have been at or about this price range for about 3 years now with only a couple of false spikes so you cant blame Putin for that either. Their last high was back in January so not Putins doing really is it?

If he's not he's following it up on some one who is ! That board is plagued With boiler room activities which I don't really want to get discuss.
However there is no need to go all orgasmic just because PMG have loosened there belt.... Currently all oil companies are down.
Call Putin and see if you can get a response from him !

Laughing at your comment on XEL "I think you are a wee bit confused ? Either that or trying hard at ramping spurious rumour !" at least hes not starting the rumour (lie) and ramping on the back of it like you did. How can you even post things like that with your record?

Hi Max V
It was written a few months ago if you click on the news tab above I'm sure you will find all relevant timings on the intentions of Parkmead !
Such a good share to hold,with Tom Crosses previous record !

Thanks for that CSZ, when was that written?