Parkmead Group losses narrow despite low oil prices
18th Nov 2016 12:33
(ShareCast News) - UK and Netherlands-focused oil and gas group Parkmead posted its preliminary results for the year to 30 June on Friday, with revenue from continuing operations almost halving to £10.4m from £18.6m. The AIM-traded company managed to offset that with a significantly reduced cost of
Read moreParkmead increases stake in North Sea oil fields
14th Sep 2016 13:12
(ShareCast News) - AIM-listed oil and gas company Parkmead increased its stake in the Perth and Dolphin oil fields in the North Sea, which significantly increased the company's oil reserves. The UK and Netherlands focused company raised its stake in the oil fields to 60.05%, thus increasing potentia
Read moreCluff Natural Resources buys three North Sea oil licenses for 1 pound
23rd Mar 2016 07:36
(ShareCast News) - Algy Cluff, the wily boss of Cluff Natural Resources (CLNR), has taken advantage of the oil price slump to sign an agreement to pay £1 to acquire a share of three North Sea licences that the company said offered the potential for 400m barrels of recoverable oil in the near-term. C
Read moreParkmead Group swings to annual loss on higher costs and lower revenue
20th Nov 2015 14:18
(ShareCast News) - Oil and gas company The Parkmead Group swung to a pre-tax loss in the 12 months to the end of June, as higher costs, lower revenue and impairment charges took their toll. In the year to 30 June, the London-listed company posted a £30.8m loss compared with a £1m profit in 2014, whi
Read moreParkmead shares up on licence news
31st Jul 2015 14:16
(ShareCast News) - Shares in oil and gas company Parkmead were up after the company said it had won three new licenses in offshore blocks. At 1323 BST shares in AIM listed Parkmead were up 4.07% to 11.19p. Parkmead, which focuses on the UK and Netherlands, said the provisional licences were for the
Read moreSector movers: Oil stocks extend gains as Budget confirms North Sea tax breaks
18th Mar 2015 15:07
Confirmation by chancellor George Osborne of budgetary measures to ease the pain in the struggling oil industry gave energy producers and services stocks another big lift on Wednesday. The 2015 Budget, the last of the current parliament, revealed new tax allowances worth £1.3bn in total to stimulate
Read moreWesthouse highlights attractive oil stocks that can weather crude-price falls
21st Nov 2014 11:06
Westhouse Securities has called for investors in the oil and gas sector to be a "bit more patient" with oil prices currently rumbling along at multi-year lows, as it highlighted buying opportunities in the sector. Brent crude has now fallen over 25% to $79 a barrel since hitting a high of $115 a bar
Read moreParkmead strikes gas in the Netherlands
24th Sep 2014 08:25
Oil & gas explorer Parkmead Group has struck gas in the Netherlands. Parkmead said its Diever 2 well in the Drenthe 3b production licence had found a better-than-expected significant 157 foot gas column. Parkmead's co-venturers in the licence are operator Vermilion Energy, NAM and EBN. It also sai
Read moreFriday broker round-up UPDATE
1st Aug 2014 10:33
AstraZeneca: Deutsche Bank ups target price from 3950p to 4000p staying with its hold recommendation. Avacta: Numis places both its target price and its buy recommendation under review. Barclays: Berenberg upgrades from sell to hold with a target price of 220p. Bodycote: UBS shifts target price f
Read moreThursday broker round-up UPDATE
3rd Apr 2014 09:05
Associated British Foods: Citi increases target price from 2350p to 3000p, while its neutral rating remains unchanged. Booker Group: Investec shifts target price from 172p to 178p retaining a buy recommendation. BSkyB: HSBC Holdings moves target price from 600p to 610p, while keeping its underweig
Read moreParkmead swings half-year profit as revenue surges
28th Mar 2014 14:27
Oil and gas company Parkmead reported a surge in half-year revenue, supported by an increase in production. The company reported revenue of £9.9m in the six months ended December 31st 2013, compared to £2m the previous year. Maiden profit before tax came to £3.1m, up from a loss of £2.8m in 2012.
Read moreParkmead strikes gas in North Sea
19th Nov 2013 15:05
Gas explorer Parkmead Group has found a new gas field in the North Sea. Dana Petroleum, which drilled the Pharos exploration well for Parkmead and its partners, discovered the field in the southern North Sea. Parkmead said it could develop Pharos jointly with the Platypus gas field, which is about
Read moreParkmead puts in offer to buy Lochard
23rd May 2013 11:43
Oil and gas company Parkmead has placed an offer to purchase the entire issued share capital of Lochard. The acquisition of the independent oil and gas production, appraisal and development firm is currently valued at £14.5m and each share worth 4.9p. Parkmead said Lochard directors were pleased
Read morePremier Oil announces failure of Spaniards East Well
6th Nov 2012 08:53
Premier Oil has disappointed its investors with the announcement that the Spaniards East Well in Block 15/21, in which it has a 28 per cent operating interest has been plugged and abandoned as a dry hole. Although the well encountered 75 feet of Jurassic sands, these were shown to be water wet on
Read moreParkmead completes acquisition of Netherlands assets
8th Aug 2012 09:41
Oil and gas firm Parkmead has completed the acquisition of a portfolio of Netherlands onshore assets, comprising interests in four producing gas fields and two oil fields. The assets, for which Parkmead is paying a total of €7.5m, include a 15% interest in the Andel V production licence, which cove
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