OGA update on Dana -Parkmead-Cleeton progress report dated 6/9/19.(Scroll down to Dana ) . Concept approval. :-


Sanction now estimated for Q2 2020… We could be looking at next June, that seems a long way off yet.
If some clarity on the Pitreadie deal isn’t forthcoming very soon we will be testing the lows of 34 or 35p again. I never thought we’d see the day.


I’ve read rumours that Dana has submitted a field development plan for Platypus as well as being granted an extension to the licence.
Has anyone heard anything definitive?

It would fit with my theory that Dana and their sub contractors are busy with Tolmount at the moment.

Now we are under 35p again, I am a buyer.
Related party transactions are rarely in the interests of investors but this is well overdone in my opinion.

Equinor opting out of GBA was a bit of a blow but not a surprise, they have bigger fish to fry.
JOG are capable of getting the job done, I hope. Polecat and Marten would tie back there nicely!


Field development plan application and Environmental impact assessment report have been submitted.
First Gas Q4 2021.
Detailed design expected Q2 2020.
It looks like we are good to go.
Buy, Buy, Buy!


Plenty going on in the backroom here. Platypus reports suggest focus towards production on track. GPA still under intense review, no negatives reported. Parkmead the Company has had a comprehensive mauling . Tom Cross and associates a mauling. PI’s and II investors giving it a shredding. Carcass appears to be intact, nobody has said the cash pile has been squandered. Awaiting news. Hold steady the oil and gas prices!!


My gut feel is finance for GPA is agreed with a third party or parties. Subject to outcomes which are to be finalised .GL.


Parkmead RNS today reafirms the Field Development Plan draft and Environmental Statement for Platypus have been submitted by Dana Petroleum.


Glad I added more to my holding whilst we were under 35p.
If your gut feeling about GPA is right that would propel us through £1 in short order I would think.

What terms do you expect?
I’m hoping that we have held onto 15-20% of the licence in return for a free carry through to first oil.
The staff have put in a huge amount of work, we deserve it.


A bargain top up at those levels. Mine a bit higher , but Ok. The “big haggle” who gets what and what are the percentages to be taken at GPA. Can we get an improved recovery per barrel down from $30 odd to anywhere near the $12.30 Sirius reported last week. Highly unlikely with high sulphur present at GPA $20 - $24 per barrel we would be on a winner!! New technologies are out there. If the divide is broken down to 20% and a free carry that’s a good figure for Parkmead shareholders considering the volumes in place.


The haggle:- Who drives the bus?


What do you think the total value of GPA is To pmg


At the moment GPA is worth nothing, as investors we have to be realistic
The chance of it being commercialised I would put at no more than 20%.

The group is far better balanced now, Gas and Renewables are going to be so important to both the group and the U.K. going forward.

If GPA doesn’t come off I expect the floor of 35p per share to hold.
If it does, we can value it then, to do so before is just guesswork.


I estimate that we are producing around 500 to 600 BOE per day, net to us, from Diever West.
(Production roughly 7500 BOE/day gross. 7500/100=750. 750 x 7.5= 562.5)

From Platypus, at peak production, I estimate we will be producing around 1000 to 1300 BOE per day.
47 MMscf/day is equal to 8103 BOE (47,000,000/5800)
8103/100=810.3. 810.3 x 15= 1215.45

By my reckoning, Platypus will bring in roughly twice the income we currently receive from Diever West.

Do these figures seem feasible?