Parkmead Group (The) (PMG)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

14.50p
   
  • Change Today:
    -0.25p
  • 52 Week High: 22.25
  • 52 Week Low: 12.50
  • Currency: UK Pounds
  • Shares Issued: 109.27m
  • Volume: 113,287
  • Market Cap: £15.84m
  • RiskGrade: 261

Parkmead agrees to buy historic royalties associated with existing interests

By Iain Gilbert

Date: Friday 09 Jul 2021

LONDON (ShareCast) - (Sharecast News) - Independent energy group Parkmead has agreed to purchase a historic royalty associated with its existing interests in several licenses in the Netherlands from Vermilion Energy.
Parkmead said the acquisition, linked to its existing interests in the Drenthe IV, Drenthe V and Andel Va licenses, contained the Grolloo, Geesbrug and Brakel onshore gas fields, respectively.

The royalty, previously held by a Shell and ExxonMobil joint venture, will be purchased for €565,000, satisfied through a part cash payment of approximately €150,000, with the balance being paid from part of the remaining 2021 net revenue from Parkmead's working interest in the Geesbrug gas field.

As a result of the acquisition, Parkmead will increase net gas production from the wells, doubling its effective financial interest from 7.5% to 15%.

The AIM-listed group also expects the acquisition to extend the producing life of the fields through greater partner alignment.

Chairman Tom Cross said: "This innovative deal enhances our gas interests in the Netherlands and adds significant value to Parkmead.

"We continue to build a portfolio of high-quality energy projects through acquisitions, organic growth and active asset management."

As of 0945 BST, Parkmead shares were up 5.71% at 52.75p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

PMG Market Data

Currency UK Pounds
Share Price 14.50p
Change Today -0.25p
% Change -1.69 %
52 Week High 22.25
52 Week Low 12.50
Volume 113,287
Shares Issued 109.27m
Market Cap £15.84m
RiskGrade 261

PMG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
12.17% above the market average12.17% above the market average12.17% above the market average12.17% above the market average12.17% above the market average
1.33% above the sector average1.33% above the sector average1.33% above the sector average1.33% above the sector average1.33% above the sector average
Price Trend
69.2% below the market average69.2% below the market average69.2% below the market average69.2% below the market average69.2% below the market average
25% below the sector average25% below the sector average25% below the sector average25% below the sector average25% below the sector average
Income Not Available
Growth
49.00% above the market average49.00% above the market average49.00% above the market average49.00% above the market average49.00% above the market average
34.62% above the sector average34.62% above the sector average34.62% above the sector average34.62% above the sector average34.62% above the sector average

PMG Dividends

No dividends found

Trades for 21-May-2024

Time Volume / Share Price
14:15 12,000 @ 14.16p
13:54 22,310 @ 14.26p
11:22 1,000 @ 14.70p
08:38 55,000 @ 14.38p
08:03 22,977 @ 14.80p

PMG Key Personnel

Finance Director Ryan Ashley Stroulger

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