Appointment of Adviser

RNS Number : 1411V

Parkmead Group (The) PLC

05 August 2020

 

5 August 2020

The Parkmead Group plc

("Parkmead", the "Company" or the "Group")

Appointment of Adviser

Parkmead, the UK and Netherlands focused independent energy group, is pleased to announce that finnCap Ltd has been appointed as Nominated Adviser and Broker to the Company with immediate effect.

Tom Cross, Executive Chairman, commented:

"finnCap is a leading adviser on the London Stock Exchange and has an excellent track record working with ambitious companies to deliver their growth plans.

This appointment will support Parkmead's continued expansion and development into a balanced energy group".

Enquiries:

The Parkmead Group plc	[phone]
Tom Cross, Executive Chairman
Ryan Strougler, Chief Financial Officer
finnCap Ltd	[phone]
NOMAD and Broker
Marc Milmo / Matthew Radley - Corporate Finance  Andrew Burdis / Tim Harper - ECM
Instinctif Partners Limited (PR Advisers to Parkmead)	[phone]
PR Advisers to Parkmead
Mark Garraway / Sarah Hourahane / Dinara Shikhametova

Notes to Editors:

1.  Parkmead is an independent energy group that is listed on AIM on the London Stock Exchange (symbol: PMG). Parkmead is focused on growth in the oil and gas upstream and renewable energy sectors, targeting transactions at both asset and corporate level.

2.  In September 2016, Parkmead increased its stake in the Perth and Dolphin oil fields in the UK Central North Sea to 60.05 per cent. The Perth and Dolphin fields, which are both operated by Parkmead, are at the core of Parkmead's major Greater Perth Area oil hub project.

3.  In April 2017, Parkmead almost doubled its stake in the major Sanda North and Sanda South prospects in the West of Shetland area of the UK North Sea. Through this accretive step, Parkmead increased its equity in the licence from 56% to 100%.

4.  In January 2018, Parkmead significantly increased its equity in the Greater Perth Area oil hub project from 60.05% to 100%. The Group also announced that it had signed an agreement with Nexen Petroleum, a subsidiary of China National Oil Corporation (CNOOC), to conduct a detailed engineering study in relation to the potential subsea tieback of the Greater Perth Area project to the Scott platform and associated facilities in the UK Central North Sea.

5.  In May 2018, Parkmead was provisionally awarded nine offshore blocks and part blocks spanning five new licences in the UK 30th Licensing Round.

6.  In August 2019, Parkmead announced expansion into the renewable energy sector by signing a share purchase agreement to acquire the entire issued share capital of Pitreadie Farm Limited, a company owning extensive farmland and sites with significant renewable energy potential.

7.  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 energy 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 and gas companies.

For further information please refer to Parkmead's website at www.parkmeadgroup.com

 

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