The Parkmead Group is a specialist Investment Company. The Group's primary investment focus is in the Oil and Gas Exploration and Production sectors. The Parkmead Group invests in both E&P companies and licenses with a focus on the Middle East, Africa and Europe. The Parkmead Group is traded in the ISDX Exchange HERE
Parkmead’s offer already had irrevocable acceptances for 41.4% of Lochard shares, and for the takeover to go through Parkmead will have to get the backing of the majority of Lochard’s outstanding shares.
The takeover will give Parkmead a 52 per cent stake in the21.5 million barrel Perth oilfield development project, which is currently awaiting approval from the UK department of energy and climate change.