New Risk • Jul 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (72% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Revenue is less than US$5m (UK£3.5m revenue, or US$4.6m). Market cap is less than US$100m (€26.9m market cap, or US$30.7m). Announcement • May 02
Serica Energy (UK) Limited completed the acquisition of Parkmead (E&P) Limited from The Parkmead Group plc (AIM:PMG) for approximately £130 million. Serica Energy (UK) Limited has signed an agreement to acquire Parkmead (E&P) Limited from The Parkmead Group plc (AIM:PMG) for £14 million on December 12, 2024. An Initial consideration is of £5 million and additional deferred consideration of £9 million will be paid in stages over the next three years, as well as contingent payments linked to certain development milestones payable on receipt by Serica of approval by the Nor1912847936th Sea Transition Authority (‘NSTA’) for a field development plan (‘FDP’) relating to Skerryvore or Fynn Beauly. The expected completion of the transaction is in first half of 2025. Parkmead (E&P) Limited includes a 50% working interest in licence P2400 (Skerryvore) and a 50% working interest in licence P2634 (Fynn Beauly). Serica Energy (UK) Limited already holds a 20% interest in P2400 licence. Following completion of the transaction, Serica will hold 70% and become the operator.
Serica Energy (UK) Limited completed the acquisition of Parkmead (E&P) Limited from The Parkmead Group plc (AIM:PMG) for approximately £130 million on May 1, 2025. Pursuant to the terms of the sale & purchase agreement, Parkmead Group has received a cash payment of approximately £7.3 million on completion (inclusive of working capital adjustments). Parkmead Group will also receive a further £7.0 million of additional firm cash consideration and up to £120 million of contingent cash consideration, payable as follows: Two further deferred payments totaling £7.0 million, payable in instalments of £3.1 million and £3.9 million on the 27th of February 2026 and 27th of February 2027 respectively. These future payments are committed firm cash payments and are not subject to any conditions; and two contingent payments, payable upon receipt by Serica of approval by the North Sea Transition Authority ("NSTA") for any field development plan ("FDP") relating to any development on licence P2400 (containing the Skerryvore prospect) or licence P2634 (containing the Fynn Beauly oil discovery). These cash payments are to be calculated based on £0.8/bbl of the 2P reserves contained within the respective FDP net to the Subsidiary's current 50% working interest in each licence, subject to caps of £30 million (in relation to licence P2400) and £90 million (in relation to licence P2634). Announcement • Dec 14
Serica Energy plc (AIM:SQZ) has signed an agreement to acquire Parkmead (E&P) Limited from The Parkmead Group plc (AIM:PMG) for £14 million. Serica Energy plc (AIM:SQZ) has signed an agreement to acquire Parkmead (E&P) Limited from The Parkmead Group plc (AIM:PMG) for £14 million on December 12, 2024. An Initial consideration is of £5 million and additional deferred consideration of £9 million will be paid in stages over the next three years, as well as contingent payments linked to certain development milestones payable on receipt by Serica of approval by the North Sea Transition Authority (‘NSTA’) for a field development plan (‘FDP’) relating to Skerryvore or Fynn Beauly. The expected completion of the transaction is in first half of 2025. Announcement • Dec 10
The Parkmead Group plc, Annual General Meeting, Dec 23, 2024 The Parkmead Group plc, Annual General Meeting, Dec 23, 2024. Location: aloft aberdeen teca by marriott, gough burn crescent, dyce, ab21 9fy, aberdeen United Kingdom New Risk • Oct 14
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 66% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Market cap is less than US$100m (€16.3m market cap, or US$17.8m). New Risk • Jul 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 66% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.7% average weekly change). Market cap is less than US$100m (€17.2m market cap, or US$18.6m). Board Change • Jun 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Robert Finlay was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Dec 22
The Parkmead Group plc, Annual General Meeting, Dec 21, 2023 The Parkmead Group plc, Annual General Meeting, Dec 21, 2023. Reported Earnings • Nov 18
Full year 2023 earnings released: UK£0.39 loss per share (vs UK£0.007 loss in FY 2022) Full year 2023 results: UK£0.39 loss per share (further deteriorated from UK£0.007 loss in FY 2022). Revenue: UK£14.8m (up 22% from FY 2022). Net loss: UK£42.3m (loss widened UK£41.5m from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. New Risk • Nov 06
New major risk - Revenue and earnings growth Earnings have declined by 32% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 32% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Market cap is less than US$100m (€16.1m market cap, or US$17.3m). Announcement • Nov 05
The Parkmead Group plc to Report Fiscal Year 2023 Results on Nov 30, 2023 The Parkmead Group plc announced that they will report fiscal year 2023 results on Nov 30, 2023 New Risk • Oct 18
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.4% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Currently unprofitable and not forecast to become profitable next year (UK£20m net loss next year). Market cap is less than US$100m (€19.2m market cap, or US$20.3m). Reported Earnings • Apr 02
First half 2023 earnings released: UK£0.13 loss per share (vs UK£0.004 loss in 1H 2022) First half 2023 results: UK£0.13 loss per share (further deteriorated from UK£0.004 loss in 1H 2022). Revenue: UK£11.1m (up 140% from 1H 2022). Net loss: UK£14.0m (loss widened UK£13.6m from 1H 2022). Revenue is expected to decline by 37% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in Germany are expected to grow by 3.4%. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • Jan 12
the Parkmead Group plc Completes Drilling Activities At LDS-01 Well in the Netherlands The Parkmead Group plc announced the completion of drilling activities at the LDS-01 well in the Netherlands which has encountered gas columns in the primary target horizons. The well has been completed and is now ready for tie-in to production, which will follow the conclusion of the LDS-02 well. The LDS-01 well was the first of the two-well campaign on the Drenthe VI concession targeting several onshore gas prospects. This first well was drilled to a depth of 2225m TVDSS, successfully encountering gas at multiple intervals. The Drilltec Synergy 2 rig has subsequently spudded the LDS-02 well. Reported Earnings • Nov 24
Full year 2022 earnings released: UK£0.007 loss per share (vs UK£0.13 loss in FY 2021) Full year 2022 results: UK£0.007 loss per share (improved from UK£0.13 loss in FY 2021). Revenue: UK£12.1m (up 236% from FY 2021). Net loss: UK£814.0k (loss narrowed 94% from FY 2021). Combined production costs Average production cost/Boe: US$7.08 (US$7.17/Boe in FY 2021) Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 92 percentage points per year, which is a significant difference in performance. Announcement • Nov 23
The Parkmead Group plc, Annual General Meeting, Dec 21, 2022 The Parkmead Group plc, Annual General Meeting, Dec 21, 2022, at 09:00 Coordinated Universal Time. Location: Pitmedden Suite, Delta Hotels by Marriott Aberdeen, Overton Circle, Dyce, Aberdeen, AB21 7AZ Aberdeen United Kingdom Announcement • Nov 16
The Parkmead Group plc Announces Two-Well Drilling Campaign in the Netherlands The Parkmead Group plc announced that the Drilltec Synergy 2 Rig has now commenced its mobilisation, ahead of upcoming two-well 'LDS' drilling campaign in the Netherlands. The LDS wells will target multiple Rotliegendes gas reservoir prospectsfrom the existing Diever well site, which is already in production. Construction work to facilitate the potential tie-in of the new wells is largely complete. A successful drilling outcome will result in new fast-track production that adds significant additional revenue and cash flow for Parkmead. It is anticipated that the results of the first LDS well will be known around the end of the calendar year 2022, with the second being known in Quarter 1 2023. The LDS wells form part of Parkmead's interests in the Dutch Drenthe VI concession. This concession also contains the Diever gas field which remains in the top three most prolific producing onshore fields in the Netherlands. Further follow-on prospects have also been identified. Reported Earnings • Mar 28
First half 2022 earnings released: UK£0.004 loss per share (vs UK£0.014 loss in 1H 2021) First half 2022 results: UK£0.004 loss per share (up from UK£0.014 loss in 1H 2021). Revenue: UK£4.63m (up 199% from 1H 2021). Net loss: UK£411.0k (loss narrowed 74% from 1H 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 118 percentage points per year, which is a significant difference in performance. Announcement • Feb 02
The Parkmead Group plc (AIM:PMG) acquired Kempstone Hill Wind Energy Limited for £4.3 million. The Parkmead Group plc (AIM:PMG) acquired Kempstone Hill Wind Energy Limited for £4.3 million on February 1, 2022. The total consideration comprises £3.29 million in cash. In addition, Parkmead will assume a project loan of approximately £0.99 million. For the financial year to September 30, 2021, Kempstone Hill generated revenue of £0.38 million and an adjusted EBITDA of £0.23 million. Marc Milmo, Andrew Burdis of finnCap Ltd acted financial advisor to The Parkmead Group plc.
The Parkmead Group plc (AIM:PMG) completed the acquisition of Kempstone Hill Wind Energy Limited on February 1, 2022. Reported Earnings • Nov 27
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: UK£0.13 loss per share (down from UK£0.005 loss in FY 2020). Net loss: UK£13.8m (loss widened UK£13.3m from FY 2020). Combined production costs Average production cost/Boe: US$7.17 (US$8.00/Boe in FY 2020) Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 138%, compared to a 53% growth forecast for the oil industry in Germany. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Executive Departure • May 07
Independent Non-Executive Director has left the company On the 30th of April, Philip Dayer's tenure as Independent Non-Executive Director ended after 10.4 years in the role. As of December 2020, Philip personally held 447.44k shares (€198k worth at the time). Philip is the only executive to leave the company over the last 12 months. Reported Earnings • Apr 05
First half 2021 earnings released: UK£0.014 loss per share (vs UK£0.016 loss in 1H 2020) First half 2021 results: Net loss: UK£1.55m (loss narrowed 9.6% from 1H 2020). Reported Earnings • Nov 29
Full year 2020 earnings released: UK£0.005 loss per share Full year 2020 results: Net loss: UK£482.0k (down 120% from profit in FY 2019). Analyst Estimate Surprise Post Earnings • Nov 29
Revenue beats expectations Revenue exceeded analyst estimates by 1.1%. Over the next year, revenue is forecast to grow 9.6%, compared to a 12% growth forecast for the Oil and Gas industry in Germany. Announcement • Nov 28
The Parkmead Group Plc, Annual General Meeting, Dec 21, 2020 The Parkmead Group Plc, Annual General Meeting, Dec 21, 2020, at 09:00 Coordinated Universal Time. Is New 90 Day High Low • Nov 24
New 90-day high: €0.40 The company is up 4.0% from its price of €0.38 on 25 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Oil and Gas industry, which is up 29% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Analyst Estimate Surprise Post Earnings • Nov 21
Revenue beats expectations Revenue exceeded analyst estimates by 1.1%. Over the next year, revenue is forecast to grow 9.6%, compared to a 12% growth forecast for the Oil and Gas industry in Germany. Is New 90 Day High Low • Oct 21
New 90-day low: €0.28 The company is down 17% from its price of €0.34 on 23 July 2020. The German market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Oil and Gas industry, which is up 45% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Is New 90 Day High Low • Sep 22
New 90-day low: €0.33 The company is down 7.0% from its price of €0.35 on 24 June 2020. The German market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Oil and Gas industry, which is up 59% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share.