Parkmead Group (The) PLC Result of AGM (4427A)
December 22 2014 - 5:50AM
UK Regulatory
TIDMPMG
RNS Number : 4427A
Parkmead Group (The) PLC
22 December 2014
22 December 2014
THE PARKMEAD GROUP PLC
("Parkmead" or the "Company")
Result of Annual General Meeting
The Board of Parkmead is pleased to announce that at the
Company's Annual General Meeting, held earlier today, all
resolutions proposed were duly passed unanimously by
shareholders.
Enquiries:
The Parkmead Group plc
Tom Cross (Executive Chairman) +44 (0) 1224 622200
Ryan Stroulger (Chief Financial Officer) +44 (0) 1224 622200
Charles Stanley Securities (Financial
Adviser, NOMAD and Corporate Broker
to Parkmead)
Marc Milmo +44 (0) 20 7149 6000
Carl Holmes +44 (0) 20 7149 6000
Instinctif Partners Limited (PR Adviser
to Parkmead)
David Simonson +44 (0) 20 7457 2020
Catherine Wickman +44 (0) 20 7457 2020
Notes to Editors:
1. The Parkmead Group is an independent oil and gas, exploration
and production company listed on the London Stock Exchange (symbol:
PMG), and is a constituent of the FTSE AIM 100 index. Parkmead is
focused on growth in the UK and Netherlands, targeting transactions
at both asset and corporate levels.
2. Dr Colin Percival, Parkmead's Technical Director, who holds a
First Class Honours Degree in Geology and a Ph.D in Sedimentology
and has over 30 years of experience in the oil and gas industry,
has reviewed and approved the technical information contained in
this announcement.
3. In November 2011, Parkmead completed the acquisition of
stakes in UK Blocks 48/1a, 47/5b and 48/1c containing the Platypus
gas field and the Possum gas prospect. Mapping indicates the
potential for Platypus and Possum to contain up to 180 and 100
billion cubic feet of gas in place, respectively.
4. In December 2011, Parkmead agreed to acquire stakes in blocks
47/4d, 47/5d, 47/10c and 48/6c in the UK Southern North Sea, which
contained the Pharos gas prospect. These two gas-basin acquisitions
were important steps in the first stage of Parkmead's development
as a new independent energy company.
5. In March 2012, Parkmead agreed to acquire a portfolio of
Netherlands onshore assets comprising four producing gas fields and
two oil fields from Dyas B.V. This acquisition provided the Group
with its first producing fields and with future oil developments at
Ottoland and Papekop. This acquisition completed in August
2012.
6. In May 2012, Parkmead launched its recommended acquisition of
DEO Petroleum plc. As a result, Parkmead now owns 52% and is
operator of the UKCS Perth oil field, which is targeting Proven and
Probable (2P) reserves of 41.3 million barrels of oil (21.5 million
barrels of oil net to Parkmead).
7. In October 2012, Parkmead was awarded several new licences
under the UKCS 27(th) Licensing Round. The six new licences
comprise interests in a total of 25 offshore blocks or partial
blocks across the Central North Sea, West of Scotland and West of
Shetland.
8. In July 2013, Parkmead completed its recommended offer for
Lochard Energy Group plc. This gave Parkmead a 10% interest in the
producing Athena oil field.
9. In December 2013, Parkmead agreed to acquire a further 20 per
cent. interest in the Athena oil field from EWE VERTRIEB GmbH,
trebling Parkmead's interest in the Athena oil field to 30 per
cent.
10. Also in December 2013, in the second tranche of the UKCS
27(th) Licensing Round, Parkmead was awarded a further five UK
blocks through two new licences in the UK Southern North Sea. That
made a total award to Parkmead of 30 UK blocks across eight
licences within the UKCS 27(th) Licensing Round.
11. In January 2014, Parkmead completed a successful
oversubscribed placing raising US$66.0 million which provided the
Company with increased financial firepower and balance sheet
strength.
12. In April 2014, Parkmead completed the acquisition of a 20
per cent. interest in the Athena oil field from EWE VERTRIEB GmbH,
trebling Parkmead's interest in the Athena oil field to 30 per
cent.
13. In September 2014, Parkmead discovered a new gas field
onshore the Netherlands at Diever West.
14. Through its wholly owned subsidiary, Aupec Limited, the
Parkmead Group provides petroleum benchmarking and economics
expertise to a wide range of government bodies and international
oil and gas companies. Aupec has to date worked with over 100
governments, national oil companies, majors and independents,
across the world, as well as a number of multi-national agencies
such as the European Commission and the World Bank. Aupec is
currently undertaking an important benchmarking project for a group
of the world's largest super-major oil companies.
For further information please refer to Parkmead's website at
www.parkmeadgroup.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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