Preliminary Results for the
year ended 30 June 2019

Posted: 15/11/19

Parkmead, the UK and Netherlands focused independent energy group, is pleased to report its preliminary results for the year ended 30 June 2019.




Parkmead delivers major growth in cash flow and operating profit



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



Strategic move into renewable energy opportunities



Increase in Diever West gas production and expanded Netherlands activity



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 an excellent year of progress for Parkmead. The Group has increased revenue to £8.3 million and delivered major growth in cash flow and operating profit. This is an outstanding achievement for Parkmead and creates a strong foundation from which to continue its momentum. 


We have achieved important milestones on the valuable Platypus gas project. The innovative subsea tie-back plan reduces the cost of the project significantly. The Platypus project has the potential to open up further development upside in this prolific area of the Southern North Sea, in which Parkmead holds additional appraisal and exploration interests.


Through a strategic acquisition, we have begun looking at 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.


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

Tim Dainton


Instinctif Partners Limited (PR Adviser to 

Parkmead)     +44 (0) 20 7457 2020

Mark Garraway

Sarah Hourahane

Dinara Shikhametova


Please see the full announcement here