Parkmead shares up on licence news

Shares in oil and gas company Parkmead were up after the company said it had won three new licenses in offshore blocks.

At 1323 BST shares in AIM listed Parkmead were up 4.07% to 11.19p.

Parkmead, which focuses on the UK and Netherlands, said the provisional licences were for the West of Shetland area and in the Southern North Sea.

While Parkmead planned to operate two licences in the West of Shetland, the third licence in the Southern North Sea would be operated by Atlantic Petroleum.