Preliminary results for the
year ended 30 June 2022

Posted: 23/11/22

Parkmead, the independent energy group focused on growth through gas, oil and renewable energy projects, is pleased to report its preliminary results for the year ended 30 June 2022.




Record revenue, up 236%, with strong cashflow and profits recorded at operating and pre-tax levels 



Gas royalty acquisition proving highly beneficial



Operational wind farm acquired, delivering immediate electricity revenues



Substantial gas and oil reserves and resources



Well positioned for further acquisitions and opportunities



Post period end:


New two-well drilling campaign in the Netherlands commencing



Increased stake in Skerryvore to 50%; Greater Perth Area farm out launched



Parkmead’s Executive Chairman, Tom Cross, commented:


“I am delighted to report an excellent year of progress for Parkmead. We have delivered record gas revenue and strong pre-tax profits through our high-quality Dutch assets.


The innovative royalty deal which we completed last summer is proving to be highly advantageous and is adding considerable value. Parkmead is 100% unhedged and is benefiting from these additional gas sales at higher prices.


We will be spudding the first of our LDS wells imminently in the Netherlands. This will target new onshore gas resources which, in a success case, will be tied in quickly to production. Parkmead has already commenced well planning work on the high-impact Skerryvore project in the UK.


A strong contribution is being made by the Kempstone Hill Wind Farm, producing 100% renewable energy direct to the grid. This UK onshore wind farm is complementary to the Group’s low-carbon, onshore operations in the Netherlands. 


Our team continues to identify and evaluate further acquisitions that would enhance our existing business. 


Parkmead is well positioned for the future. We have excellent UK and Netherlands regional expertise, strong financial discipline, and a growing portfolio of high-quality assets. The Group will continue to    build upon the inherent value in its existing interests with a balanced, acquisition-led, growth strategy to secure opportunities that maximise future value for our shareholders” 



For enquiries please contact: 


The Parkmead Group plc+44 (0) 1224 622200

Tom Cross (Executive Chairman)

Ryan Stroulger (Finance Director & Company Secretary)


finnCap Ltd+44 (0) 20 7220 0500

Marc Milmo / Seamus Fricker – Corporate Finance

Andrew Burdis / Barney Hayward – ECM


Please see the full statement, including financial statements, here. The file is also located in the financial reports section of the Company's website.