Executive Summary
The Parkmead Group is a London based Merchant Bank. Following a successful restructuring in 2006, the Group is now focused on investing in the Oil, Gas and Energy sectors. [1]
Company History
Originally established in 1992, as Interregnum plc - a technology merchant bank to buy, sell, advise, invest in and operate technology companies. Its advisory services included corporate finance, IP exploitation and commercial due diligence. The company's clients were corporates, government, technology entrepreneurs, advisors and investors.
Changed direction and name in 2006, re-inventing itself as a specialist investment business focussed on oil and gas.
Current Events
Business Model
Parkmead currently holds three investments:
- Transeuro Energy - an oil and gas exploration and development company. Their portfolio of assets combines high impact projects in emerging markets such as Ukraine and Papua New Guinea with lower-risk Canadian operations. PMG holds CA$1,250,000 Convertible debt: and 5,000,000 Warrants. Investment made: June 2008
- Faroe Petroleum - an AIM listed independent oil and gas company focused on exploration and appraisal drilling in the Atlantic Margin (Faroe Islands and UK West of Shetlands), the North Sea and Norway. Faroe holds 43 licences, 6 as operator. PMG holds 2,918,724 shares = 2.79%. Investment made: December 2007. It is worth pointing out that Dana holds approximately 27% of Faroe - so Goodall and Cross effectively control more than 30% of Faroe between PMG and DNX - although the two holdings are being treated as independent - ie there is no concert party.
- Reservoir Exploration Technology - a marine geophysical company specialising in multi component sea-floor acquisition. RXT provides the latest in acquisition and support services, operating several crews with the very latest in Ocean Bottom Cable 4C acquisition systems. PMG holds 260,000 shares = 0.95% Investment made: December 2007
Market & Competition
Market Share
Main Competitors
Competitive Strengths and Weaknesses
Management
Board members are listed here.
Two names which stand out are Colin Goodall and Tom Cross - both of Dana Petroleum
Goodall is Non-executive Chairman. He previously spent 24 years with BP group, where he was the first Chief of Staff within the BP group. From 1995 to 1999 he served as Chief Financial Officer of BP Europe and then as BP's senior representative in Russia. His…
