ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

PHAR Pharos Energy Plc

20.00
0.00 (0.00%)
Last Updated: 08:42:30
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Pharos Energy Plc LSE:PHAR London Ordinary Share GB00B572ZV91 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 20.00 0.00 08:42:30
Bid Price Offer Price High Price Low Price Open Price
18.30 20.90
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Oil & Gas Field Services,nec USD 199.1M USD 24.4M USD 0.0564 3.55 86.53M
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 20.00 GBX

Pharos Energy (PHAR) Latest News (1)

Pharos Energy (PHAR) Discussions and Chat

Pharos Energy Forums and Chat

Date Time Title Posts
14/3/202413:57Pharos Energy-A New Beginning8,287
13/3/202410:03Pharos Energy / Soco International 1,955
22/5/200323:09The Phuture is bright1

Add a New Thread

Pharos Energy (PHAR) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2024-03-18 16:35:0720.00499.80UT
2024-03-18 15:07:3818.31203.66O
2024-03-18 14:10:5918.85264.90O
2024-03-18 14:10:5919.7010,0001,970.00AT
2024-03-18 11:53:2620.7048199.57O

Pharos Energy (PHAR) Top Chat Posts

Top Posts
Posted at 19/3/2024 08:20 by Pharos Energy Daily Update
Pharos Energy Plc is listed in the Oil & Gas Field Services,nec sector of the London Stock Exchange with ticker PHAR. The last closing price for Pharos Energy was 20p.
Pharos Energy currently has 432,672,858 shares in issue. The market capitalisation of Pharos Energy is £86,534,572.
Pharos Energy has a price to earnings ratio (PE ratio) of 3.55.
This morning PHAR shares opened at -
Posted at 29/1/2024 10:25 by oilinvestoral
I did my part to help the Soco share price by DRIP reinvesting the divi last week. I got nearly 12,000 shares in my own portfolio.I didn't reinvest the divi in my family fund which I also run as I didn't want to expose them to any more Snyder shares.Looks like there is a solid base between 20-21p .
Posted at 16/1/2024 07:39 by cwa1
Pharos Energy plc

("Pharos" or the "Company" or, together with its subsidiaries, the "Group")

Trading and Operations Update January 2024

Pharos Energy plc, an independent energy company, issues the following trading and operations update to summarise recent operational activities and to provide trading guidance in respect of the financial year to 31 December 2023 and outlook guidance for 2024. This is in advance of the Company's Preliminary Results on 27 March 2024. The information contained herein has not been audited and may be subject to further review and amendment.

Jann Brown, Chief Executive Officer, commented:

"Pharos delivered a strong operational performance across the portfolio in 2023 and there is significant operational momentum going into 2024. The Group had success on drilling in both Vietnam, with the CNV well coming in strongly, and in Egypt, with discoveries on the first NBS exploration well and the El Fayum exploration well. On Block 125, parallel discussions with several potential farm-in partners are ongoing and we have joined forces with another operator in the region to enhance our position in the rig market.

"The Company has built solid foundations of sustainable cash generation from a robust and diverse production base, which enabled us to make returns of $8.4m to shareholders, invest in our assets and reduce our net debt to c.$6.5m, despite the ongoing payment lags in Egypt. Alongside this solid base, in Block 125 in Vietnam we have an exploration prospect which offers significant upside potential and we are progressing plans to drill as quickly as possible. We continue to execute on our strategy of regular returns to shareholders plus growth, and we look forward to delivering value for all shareholders in 2024 and beyond."

Operational Highlights

-- Group working interest 2023 production was 6,508 boepd net (2022: 7,166 boepd net), in line with 2023 guidance:

o Vietnam 5,127 boepd (2022: 5,418 boepd)

o Egypt 1,381 bopd (2022: 1,748 bopd)

-- In Vietnam:
o On TGT, Revised Field Development Plan ("RFDP") approved by MOIT on 9 January 2024

o On CNV, strong performance from first new lateral well, delivered on time and under budget and put on production in 1Q 2023

o CNV RFDP submitted to partners for approval, with discussions ongoing

o Initial positive feedback received from PVN and MOIT on five-year extension proposals to the TGT & CNV licences

o On Blocks 125 & 126, two-year PSC extension granted to 8 November 2025

o CPR for Block 125 published in July 2023, confirming a range of gross unrisked prospective oil resources of between 1,178 MMstb (1U) and 29,785 MMstb (3U) with a Mean value of 13,328 MMstb

-- In Egypt:
o Three new wells (2 producers and 1 injector) put on production and injection in 2023 in line with expectations

o On El Fayum, exploration success with the first commitment well in the Abu Roash G and Upper Bahariya formations in July 2023. The well is set up for re-entry and testing in 2024

o On NBS, first exploration commitment well (NBS-SW1X) declared a commercial discovery in April 2023 and put on production in December 2023, opening up a new area for production and development

o Second NBS exploration commitment well was drilled in the Abu Roash G formation at a deeper depth and failed to encounter oil-bearing sands. The result of this well does not hinder other mapped prospects in the concession

o Approval received from EGPC in December 2023 for the grant of a 20 year development lease for NBS-SW1X

o 3D seismic survey acquired on time and on budget in 2H 2023

Financial Highlights

-- Group revenue for 2023 was c.$168m with minimal hedging losses (2022: $221.6m before hedging loss of $22.5m)

o Vietnam c.$149m

o Egyptian c.$19m (1)

-- Cash balances as at 31 December 2023 were c.$32.6m; net debt c.$6.5m (2022: cash balances $45.3m; net debt $28.9m)

-- Egypt receivable position as at 31 December 2023 stood at $37.3m (31 Dec 2022: $24.2m). The continuing volatility of the macro-economic environment in Egypt and further devaluation of EGP against USD during the year, plus the lack of ability to convert EGP into USD, means that it remains preferable to continue to hold USD denominated receivables, other than where they can be used to fund ongoing expenditures on expiry of the carry from IPR

-- The December redetermination process under the RBL completed with a principal repayment of $12.6m made in December 2023

-- Following that repayment, the remaining amount drawn under the RBL stands at $30.0m
(1) (Egyptian revenues are given post government take including corporate taxes.)

Corporate Highlights

-- $3m share buyback programme substantially completed by year end 2023
-- Final dividend for the 2022 financial year of 1p per share, totalling $5.6m, paid on 12 July 2023

-- Net Zero roadmap published on 6 December 2023
-- Appointment of Dr Bill Higgs as a new independent Non-Executive Director, as announced separately today

-- Appointment of Shore Capital Stockbrokers Limited (Shore Capital) as the Company's joint broker with immediate effect

2024 Outlook

-- Group working interest production guidance of 5,200 - 6,500 boepd net:
o Vietnam 3,900 - 5,000 boepd

o Egypt 1,300 - 1,500 bopd

-- In Vietnam:
o Planning underway for a two-well TGT drilling programme, expected to commence 2H

o On Block 125, ongoing discussions with another operator to secure a well drilling slot in connection with their proposed multi-well drilling programme in the region

o Parallel discussions with several potential farm-in partners for Block 125 in progress

-- In Egypt:
o Continuation of modest and measured approach to capital allocation and drilling in El Fayum and NBS, with an eye on the receivables balance

o Focus for this year's work programme in El Fayum is low cost recompletions and waterflood

o Processing and interpretation of c.130km(2) of 3D seismic data on NBS is underway and expected to be completed in 2H

o Development drilling in the NBS SW field planned to start in 2H

-- Forecast Group cash capex in the year is expected to be c.$32.2m (c.$27.3m after Egyptian carry by IPR)

-- Continuation of share buyback programme, with a further $3m committed as announced on 6 December 2023

-- Interim dividend in relation to the financial year ending 31 December 2023 of 0.33p per share declared on 6 December 2023, amounting to c.$1.8m, to be paid out on 24 January 2024. Final dividend, in line with the Company's policy announced in September 2022, to be paid in July 2024, subject to shareholder approval

Ed Story

The Company noted with great sadness the death of its founder, Ed Story, in December 2023. Since retiring as CEO in March 2022, Ed had remained active as part of the team dealing with Vietnam and his responsibilities will now pass to Vincent Duignan, the Group Exploration Manager & General Manager South East Asia. Vinny will be supported at Board level by Dr Bill Higgs, whose appointment as Non-Executive Director was announced today.
Posted at 04/1/2024 12:30 by tyler19
Oil price forecasts have been cut by 10% for 2024.For Pharos there’s the additional risk of Middle East tensions which are reducing revenue for the Egyptian government and may result in an increase in receivables for Pharos. Let’s hope not.
Posted at 15/12/2023 09:33 by yasx
OilAl,

I think Pharos doing anything on their own is a bad idea since that usually leads to erosion of money they have with little in return.

Not sure when we will hear of any partner but it does not seem anything is imminent.

There seems to be an endless supply of shares hence no price movement despite Radoff/Pharos buying a fair chunk during this year - quite where the shares are still coming from I don't know but one can only hope the sellers dry up or there is some progress on any front to stimulate further buying from parties other than Radoff/Pharos.
Posted at 06/12/2023 08:26 by controlledmadness
would I be correct in assuming that early buys of 5 shares and selling 30 shares are attempts to manipulate the share price?
Posted at 09/10/2023 06:34 by cwa1
Progressive Research on PHAR(May have to register)



Pharos Energy reported its interim results on 13 September. Although
profits were lower than forecast, this was predominantly due to a non-cash
impairment charge. The key message is the strength of the balance sheet,
which has seen net debt reduced to US$16.4m at the end of June 2023 from
US$28.9m at the end of 2022. This leaves the group free to return more cash
to shareholders and to start to increase investment, including commitment
exploration, which we believe should be a key driver of shareholder value...

▪ Valuation. We explore a potential value for Pharos’s assets through a
RENAV (Risked Exploration Net Asset Value) analysis, using a conservative
flat Brent oil price of US$65/bbl. We achieve a value of 38.4p/share, which
could be boosted by an additional 7.0p/share should Pharos get paid for
its receivables and receive deferred cash payments for its Egypt farmdown. Note that this valuation is for information purposes only and does
not represent a target price.
Posted at 04/10/2023 15:54 by sharksmouth
Alas, same old, same old from Pharos.
Egypt - yet more application of lipstick to a demonstrably ugly pig!
Vietnam - any exploration hopes are far outweighed by the paucity of strategic planning & forward thinking shown by this board.
ESG - it must be said that Pharos are certainly at the "top of their game" on this. If only this "wretched" market would recognise this superb achievement with some share price appreciation, eh?
Executive performance - from Jann's reply to the questions about votes against the management, executive costs & the stagnant share price, I discern a sense of foreboding in her defensive answers.
Conclusion - The sooner Bradley brings this gravy train to a stop, the better it will be for the owners of this company, including the apathetic somnulents amongst us, with their inherited shares.
Posted at 10/8/2023 06:51 by cwa1
Progressive Research have initiated coverage of Pharos...



(You need to sign up)

It's research is entitled Back To Growth and is written by Peter Hitchens

Initiating coverage: Back to growth
Like the rest of the industry, Pharos Energy was impacted by the Covid-induced collapse in the oil price, at a time when the company was heavily investing in Egypt. Net debt rose to US$57.5m at end-FY21. However, management has farmed out 55% of its Egyptian assets and put through significant cost-cutting measures, reducing debt to a more modest level of c.US$16m at the end of June 2023. Pharos is now in a position to restart returning cash to shareholders (via a dividend and buyback) and we believe it is set to increase investment, including commitment exploration, which should be a significant driver of shareholder value

...Valuation. We explore a potential value for Pharos’s assets through a RENAV (Risked Exploration Net Asset Value) analysis, using a conservative flat Brent oil price of US$65/bbl. We achieve a value of 38.4p/share, which could be boosted by an additional 7.0p/share should Pharos get paid for
its receivables and receive deferred cash payments for its Egypt farmdown. Note that this valuation is for information purposes only and does not represent a target price.
Posted at 25/5/2023 07:14 by ashkv
Sell PHAR Buy JSE.... No brainer...

Pharos Share Price: 22.6
PHAR Current Share Price vs 52 Week low of 17.75p on 23 Sep 2022: 27.32%
PHAR Current Share Price vs 52 Week High of 29.8 on 19 Apr 2022: -24.16%
Brent: $78.00
Brent Current Price Performance vs H2 2021 Low of $64.57: 20.80%
Market Cap (GBP): £97,420,896
GBPUSD: 1.235
Market Cap (USD): $120,314,807
Net Debt (USD) - 25 May 2023 Update: $29,000,000
Receivables (USD) - 25 May 2023 Update $29,000,000
Enterprise Value (USD) [Market Cap + Debt - Cash]: $149,314,807
PHAR Actual Average Production - FY 2022: 7,962
PHAR Production Mid-Guidance (6,050 - 7,500) FY 2023: 6,775
PHAR Actual Average Production Up To 30 Apr 23: 6,805
EV/BARREL- Actual Average Prod FY 2022: $18,753
EV/BARREL- USD Mid-Guidance FY 2023: $22,039
EV/BARREL- USD Actual Average Production Up To 30 Apr 23: $21,942
Shares Outstanding (24 May 2023): 431,065,912
Posted at 21/10/2022 15:44 by cwa1
Pleasantly respectable finish to the week, with a modet uptick in the PHAR share price

Time to knock off shortly and look forward to a glass of something nice :-)

Enjoy your weekend all
Pharos Energy share price data is direct from the London Stock Exchange

Your Recent History

Delayed Upgrade Clock

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

Support: +44 (0) 203 8794 460 | support@advfn.com