Interim Results for the six-month
period ended 31 December 2020

Posted: 31/03/21

Parkmead, the independent energy group focused on growth through gas, oil and renewable energy projects, is pleased to report its interim results for the six-month period ended 31 December 2020. 




Excellent progress on Platypus gas and Greater Perth Area oil projects



Major new UK licence secured and significant progress on large Skerryvore project



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



Divestment of non-core acreage and acceleration of renewable energy project



Robust, high-quality Netherlands portfolio; multiple new opportunities identified



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 2020 across the Group, despite our revenues being impacted by the low gas price environment. Parkmead has made significant advances within its asset portfolio, whilst retaining financial strength. This creates a very good foundation from which to build as the energy sector continues to recover from the COVID-19 pandemic.


Parkmead is already taking advantage of the strong position we have achieved, accelerating a number of growth steps since the period end.


We are delighted to be moving ahead, in principle, as operator of the Platypus gas development. This has the potential to add significant value to Parkmead.


Our team 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 to secure opportunities that maximise future value for our shareholders.” 





The Parkmead Group plc+44 (0) 1224 622200

Tom Cross (Executive Chairman)

Ryan Stroulger (Chief Financial Officer)


finnCap Ltd  (NOMAD and Broker to Parkmead)+44 (0) 20 7220 0500

Marc Milmo / Emily Watts / Matthew Radley – Corporate Finance

Andrew Burdis / Barney Hayward – ECM


See the full statement using the link: Interim Results for the six-month period ended 31 December 2020