Interim Results for the six-month
period ended 31 December 2019

Posted: 27/03/20

Parkmead, the UK and Netherlands focused energy group, with four business areas, is pleased to report its interim results for the six-month period ended 31 December 2019.




Strong financial position and robust producing assets, despite current low gas price environment



Strategic move into renewable energy opportunities; significant wind farm potential



 Increased activity across Netherlands portfolio; multiple new opportunities identified



 Significant progress on Skerryvore, GPA and Platypus oil and gas projects



Substantial oil and gas reserves and resources



Well positioned for further acquisitions and opportunities



Parkmead's Executive Chairman, Tom Cross, commented:


"I am pleased to report excellent progress in the six-month period to 31 December 2019 across the Group, despite our revenues being impacted by the low gas price environment. Parkmead has delivered growth in its asset base whilst retaining financial strength. This creates a very good foundation from which to build and gives us confidence that we will remain robust in the context of broader global uncertainty brought about by the COVID-19 pandemic.


Through a strategic acquisition, we are evaluating a number of renewable energy opportunities. Renewable energy is directly in line with Parkmead's business plan, broadening and enhancing the Group's energy asset base.


Potential has been identified for a large wind farm project on the Group's newly acquired land.


We are also pleased with the advances made within the Greater Perth Area project. The Group is in discussions with a number of leading, international service companies and oil companies in relation to driving forward the GPA project.


The team at Parkmead continues to work intensively to evaluate and execute further value-adding opportunities which could provide additional upside for the Group.


Parkmead is well positioned for the future. We have excellent UK and Netherlands regional expertise, significant cash resources, and a growing portfolio of high-quality assets. The Group will continue to build upon the inherent value in its existing interests with a balanced, acquisition-led, growth strategy securing opportunities that maximise long-term value for our shareholders."




For enquiries please contact:


The Parkmead Group plc     +44 (0) 1224 622200


Tom Cross (Executive Chairman)


Ryan Stroulger (Chief Financial Officer)    




Arden Partners plc (Financial Adviser, NOMAD and Corporate Broker to Parkmead)    +44 (0) 20 7614 5900


Ciaran Walsh


Victoria Hodge


Tim Dainton



Instinctif Partners Limited (PR Adviser to Parkmead)    +44 (0) 20 7457 2020


Mark Garraway


Sarah Hourahane


Dinara Shikhametova


For full details please see the pdf version here