07/09/21 Acquisition of Dutch gas property rights…

07/09/21 Acquisition of Dutch gas property rights...

Publication date: 07/09/21

I am pleased to announce that Barcmeat, an independent energy group focused on growth through gas, oil and renewable energy projects, has agreed to purchase historic royalties related to the group’s existing interests in Trent IV, Trent V and Andelva licenses in the Netherlands. of scarlet energy. These permits include the coastal gas divisions of Grolow, Keesbrook, and Berkeley, respectively.

The royalties were previously held by NAM (a joint venture between Shell and ExxonMobil) and came with the licenses with the acquisition of Parkmead. This acquisition is valued at 5,565 thousand, and the remainder of the remaining 2021 net income from Parkmeet’s interest operating in the Keysbruck gas segment will be met by approximately 150 thousand. The part is paid in cash. The acquisition removes royalties related to existing gas resources. The effective date of the transaction is January 1, 2021. The income related to this concession as of June 30, 2020 is 5325 kg.

Through this acquisition, Barkamet will increase its net production of gas from these wells, doubling the effective financial interest for the group by 7.5% to 15% (depending on the interest in working on the Barkamet licenses). It is also expected that this step will extend the useful life of these sectors by increasing compatibility with partners. The Trent VI license, which has a large gas field for Western divers, is not affected by this ownership.

Director Tom Cross noted:

This innovative deal enhances our gas interests in the Netherlands and adds significant value to Parkmeat. The group is benefiting from a very strong recovery in gas prices.

We continue to build a portfolio of high-value energy projects through acquisitions, organic development and active asset management.

Our team is carefully evaluating potential acquisitions of gas, oil and renewable energy to complement our existing portfolio. “

Questions:

READ  Local school districts are testing waters in larger crowds after large gathering boundaries have passed - CBS Pittsburgh

Parkmeat Group PLC +44 (0) 1224 622200

Tom Kroes (CEO)

Ryan Strelker (Chief Financial Officer)

finnCap Ltd (NOMAD & Broker naar Parkmead) +44 (0) 20 7220 0500

Mark Melmo / Seamus Fricker – Corporate Finance

Andrew Portis / Tim Harper – ECM

Author tips:

  1. Parkmeat is an independent energy group based in the UK and Netherlands listed on the London Stock Exchange (AIM) (logo: BMG). Parkmeat focuses on developing the oil and gas exploration and renewable energy sectors, with a focus on real estate and corporate-level transactions.

  2. In January 2018, Parkmeat significantly increased its stake in the Greater Perth Area Oil Center project from 60.05% to 100%. The commission also announced that it had signed an agreement with Nexon Petroleum, a subsidiary of China National Oil Corporation (CNOC), to conduct a comprehensive engineering study of the Scott platform for the Greater Perth area project. He. She. Facilities in the middle of the North Sea of ​​England.

  3. In May 2018, Parkmeat was awarded nine marine and cadastral blocks, including five new permits, in the 30th permit round in the UK.

  4. In August 2019, Parkmeat announced plans to expand into the renewable energy sector by signing a share purchase agreement to purchase the total share capital of Pitredy Farm Ltd. Which includes extensive agricultural land and sites with great potential for renewable energy.

  5. In September 2020, Parkmeat announced that the UK had been awarded four offshore and partial blocks, including three new licenses, at the 32nd Licensing Awards ceremony.

  6. In March 2021, Parkmeat evaluated the sale of two separate plots of non-core land from the UK Department of Renewable Energy for a total of $4.0 million.

  7. Through its wholly owned subsidiary, APEC Ltd. Parkmeet Group has provided standards and economic expertise to a wide range of government agencies and international energy companies. To date, the APEC has worked with more than 100 governments around the world, national oil companies, large and independent companies, and many other national organizations, including the European Commission and the World Bank.

View PDF version here

Leave a Reply

Your email address will not be published. Required fields are marked *