Interim Results For The Six-Month
Period Ended 31 December 2022

Posted: 31/03/23

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 2022.




Strong operating cashflow, delivered through low-cost onshore gas production



Successful exploration drilling campaign and robust production in the Netherlands



Well planning activities underway on the exciting Skerryvore exploration targets



UKCS 33rd Offshore Oil & Gas Licensing Round



Record revenue delivered from Kempstone Hill Wind Farm



Multiple new renewable energy projects under consideration



Substantial oil and gas reserves



Well positioned for further acquisitions and opportunities



Parkmead’s Executive Chairman, Tom Cross, commented:


“I am pleased to report that strong operating performance has been achieved by Parkmead in the six-month period to 31 December 2022. 


In line with our strategy, Parkmead now benefits from stable revenue generated by clean, renewable sources, onshore Scotland. This is in addition to our high-quality onshore gas assets across the Netherlands. 


The Group has achieved an increase in revenue of over 140% on the prior year period, and outstanding growth in net cash generated from operating activities of over 400%.


Parkmead’s successful drilling campaign in the Netherlands has resulted in the LDS-01 well encountering new commercial gas volumes. This well has been swiftly tied into production infrastructure, with first gas due imminently.


We continue to maintain strict financial discipline across all our existing energy projects. This is in addition to the ongoing evaluation of acquisition opportunities that will complement the Group and maximise shareholder value.”




The Parkmead Group plc       +44 (0) 1224 622200


Tom Cross (Executive Chairman)

Ryan Stroulger (Finance Director)

Henry Steward (Group Commercial Manager)


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


Marc Milmo / Seamus Fricker - Corporate Finance

Andrew Burdis / Barney Hayward - ECM



Please see the full pdf version of the announcement here, or in the Financial Reports section of the website.