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

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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 linked to the group’s existing interests in the Trent IV, Trent V and Andelva licenses in the Netherlands. 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 5,565,000, and the remainder of the 2021 net income from the participation of Parkmeet operating in the Keysbruck gas segment will be approximately 150,000. The part is paid in cash. The acquisition eliminates 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 5,325 kg.

Through this acquisition, Barkamet will increase its net gas production from these wells, thus doubling the group’s effective financial interest from 7.5% to 15% (depending on the interest in working on the Barkamet permits). This step is also expected to extend the useful life of these sectors by increasing compatibility with partners. The Trent VI permit, which has a large gas field for Western divers, is unaffected by this property.

Director Tom Cross noted:

This innovative agreement strengthens 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 added 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:

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’s advice:

  1. Parkmeat is an independent energy group based in the UK and the Netherlands listed on the London Stock Exchange (AIM) (logo: BMG). Parkmeat is focused 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 has signed an agreement with Nexon Petroleum, a subsidiary of China National Oil Corporation (CNOC), to conduct a full engineering study of the Scott platform for the Greater Perth area project. . He. It. 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 licenses, in the 30th UK license round.

  4. In August 2019, Parkmeat announced its intention to expand into the renewable energy sector by signing a share purchase agreement to purchase the full share capital of Pitredy Farm Ltd. which includes vast agricultural land and sites with high potential for renewable energies.

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

  6. In March 2021, Parkmeat valued the sale of two separate plots of non-core land from the UK Renewable Energy Department 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, APEC has worked with over 100 governments around the world, national oil companies, large independent companies and many other national organizations, including the European Commission and the World Bank.

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