Headlines
• Parkmead Group (LON:PMG – 62p) – Dana Mk II
• SEPLAT PDC (LON:SEPL – 99p/N308) – Just the Tonic
• LGO Energy (LON:LGO – 0.27p) – Better Late than Never
In Brief
• Parkmead Group (LON:PMG – 62p) – Dana Mk II: Today's results and the attendant commentary should provide significant support to the shares, despite other headwinds, not least because of the actual results that have been delivered, but because Tom Cross has now consistently delivered against his plans. What is now clear is that he has learned from the mistakes that were made in the early days of Dana Petroleum and is applying them here, and while the landscape may be different to those "early days" pre 2000, we believe that the outcome will be better, and that Parkmead is very much shaping up to be tom's next Dana, and this is exactly what investors signed up for.
• SEPLAT PDC (LON:SEPL– 99p/N308) – Just the Tonic: Today's results, and the transparency that has accompanied them, is not only refreshing, but is also essential in the wake of the disaster and corruption that came to typify Afren. And in the same way that Afren was a disaster, Seplat is shaping up to be just a panacea to offset the unpalatable taste left behind. While the comparables will start to get more difficult, as it seeks to grow from a larger base, we believe that the outlook for the Company remains strong.
• LGO Energy (LON:LGO – 0.27p) – Better Late than Never: given the pain that has swirled around onshore operations in Trinidad, the changes to the fiscal regime are better late than never. Now all that's required is for the production rate to increase so that the Company can take advantage of the changes. We continue to believe that with sufficient fiscal resources, the Company's technical excellence would fully unlock the value of the field, and would be ideally suited to lead the consolidation charge in the Trinidadian onshore.