Reported Earnings • Mar 31
First half 2026 earnings released: UK£0.008 loss per share (vs UK£0.011 loss in 1H 2025) First half 2026 results: UK£0.008 loss per share (improved from UK£0.011 loss in 1H 2025). Net loss: UK£905.0k (loss narrowed 24% from 1H 2025). Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. New Risk • Mar 29
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 72% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. 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 (9.4% average weekly change). Revenue is less than US$5m (UK£3.5m revenue, or US$4.6m). Market cap is less than US$100m (UK£23.5m market cap, or US$31.2m). New Risk • Feb 07
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 British stocks, typically moving 7.3% 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 (82% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Market cap is less than US$100m (UK£19.1m market cap, or US$26.0m). 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 2024. 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 High level of non-cash earnings (53% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Market cap is less than US$100m (UK£14.9m market cap, or US$19.7m). Board Change • Aug 01
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Colin MacLaren was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 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). Reported Earnings • Apr 02
First half 2025 earnings released: UK£0.011 loss per share (vs UK£0.007 profit in 1H 2024) First half 2025 results: UK£0.011 loss per share (down from UK£0.007 profit in 1H 2024). Revenue: UK£2.10m (down 39% from 1H 2024). Net loss: UK£1.19m (down 259% from profit in 1H 2024). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Mar 28
Now 23% overvalued Over the last 90 days, the stock has fallen 24% to UK£0.14. The fair value is estimated to be UK£0.12, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.8% over the last 3 years. Meanwhile, the company has become profitable. 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. Buy Or Sell Opportunity • Dec 12
Now 59% overvalued after recent price rise Over the last 90 days, the stock has risen 94% to UK£0.19. The fair value is estimated to be UK£0.12, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.8% over the last 3 years. Meanwhile, the company has become profitable. 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 Reported Earnings • Nov 27
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: UK£0.045 (up from UK£0.39 loss in FY 2023). Revenue: UK£5.72m (down 61% from FY 2023). Net income: UK£4.94m (up UK£47.3m from FY 2023). Profit margin: 86% (up from net loss in FY 2023). The move to profitability was driven by lower expenses. Revenue missed analyst estimates by 7.7%. Earnings per share (EPS) exceeded analyst estimates. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has fallen by 27% per year, which means it is performing significantly worse than earnings. 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 (11% 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 (UK£13.7m market cap, or US$17.8m). New Risk • Aug 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 British 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 (UK£12.6m market cap, or US$16.2m). 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 19
Full year 2023 earnings: EPS exceeds analyst expectations 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). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.7%. 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 (UK£13.9m 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: 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). Share price has been volatile over the past 3 months (8.4% average weekly change). Market cap is less than US$100m (UK£16.7m market cap, or US$20.2m). Major Estimate Revision • Jun 21
Consensus revenue estimates fall by 11% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from UK£21.3m to UK£19.0m. Forecast losses increased from -UK£0.079 to -UK£0.39 per share. Oil and Gas industry in the United Kingdom expected to see average net income decline 20% next year. Consensus price target down from UK£1.67 to UK£0.45. Share price fell 24% to UK£0.14 over the past week. 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 fall by 37% p.a. on average during the next 2 years compared to a 3.0% decline forecast for the Oil and Gas industry in the United Kingdom. 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 4% per year, which means it is well ahead of earnings. Breakeven Date Change • Mar 31
Forecast breakeven date pushed back to 2024 The analyst covering Parkmead Group previously expected the company to break even in 2023. New forecast suggests the company will make a profit of UK£2.50m in 2024. Average annual earnings growth of 41% is required to achieve expected profit on schedule. 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: EPS and revenues miss analyst expectations 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 missed analyst estimates by 7.4%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 6.9% decline forecast for the Oil and Gas industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance. Price Target Changed • Nov 16
Price target increased to UK£1.94 Up from UK£1.60, the current price target is provided by 1 analyst. New target price is 212% above last closing price of UK£0.62. Stock is up 28% over the past year. The company is forecast to post earnings per share of UK£0.037 next year compared to a net loss per share of UK£0.13 last year. Price Target Changed • Oct 06
Price target increased to UK£1.94 Up from UK£1.59, the current price target is provided by 1 analyst. New target price is 227% above last closing price of UK£0.59. The company is forecast to post earnings per share of UK£0.028 next year compared to a net loss per share of UK£0.13 last year. Reported Earnings • Mar 28
First half 2022 earnings: EPS exceeds analyst expectations while revenues lag behind 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). Revenue missed analyst estimates by 21%. Earnings per share (EPS) exceeded analyst estimates by 1,706%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 116 percentage points per year, which is a significant difference in performance. Price Target Changed • Feb 09
Price target increased to UK£1.59 Up from UK£0.94, the current price target is an average from 2 analysts. New target price is 310% above last closing price of UK£0.39. Stock is up 3.5% over the past year. The company is forecast to post earnings per share of UK£0.013 next year compared to a net loss per share of UK£0.13 last year. Price Target Changed • Dec 03
Price target increased to UK£1.59 Up from UK£0.94, the current price target is provided by 1 analyst. New target price is 308% above last closing price of UK£0.39. Stock is down 6.0% over the past year. The company is forecast to post earnings per share of UK£0.013 next year compared to a net loss per share of UK£0.13 last year. Reported Earnings • Nov 27
Full year 2021 earnings: EPS exceeds 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. Earnings per share (EPS) surpassed analyst estimates by 1,706%. Earnings per share (EPS) surpassed analyst estimates by 1,706%. Over the next year, revenue is forecast to grow 138%, compared to a 16% growth forecast for the oil industry in the United Kingdom. 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 13% 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 (UK£173k worth at the time). Philip is the only executive to leave the company over the last 12 months. Reported Earnings • Apr 04
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). Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Major Estimate Revision • Mar 25
Consensus EPS estimates increase to -UK£0.004 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from UK£4.21m to UK£4.59m. EPS estimate increased from -UK£0.006 to -UK£0.004. Oil and Gas industry in the United Kingdom expected to see average net income growth of 192% next year. Consensus price target up from UK£0.90 to UK£0.96. Share price was steady at UK£0.36 over the past week. Analyst Estimate Surprise Post Earnings • Nov 29
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) missed analyst estimates by 85%. Over the next year, revenue is forecast to grow 9.6%, compared to a 33% growth forecast for the Oil and Gas industry in the United Kingdom. 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). Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Nov 24
New 90-day high: UK£0.36 The company is up 4.0% from its price of UK£0.34 on 25 August 2020. The British market is up 5.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Oil and Gas industry, which is up 1.0% 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, earnings disappoint Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) missed analyst estimates by 85%. Over the next year, revenue is forecast to grow 9.6%, compared to a 35% growth forecast for the Oil and Gas industry in the United Kingdom. Is New 90 Day High Low • Oct 07
New 90-day low: UK£0.27 The company is down 26% from its price of UK£0.36 on 09 July 2020. The British 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 down 13% 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: UK£0.30 The company is down 6.0% from its price of UK£0.32 on 24 June 2020. The British market is down 3.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Oil and Gas industry, which is down 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share.