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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Pharos Energy Plc | PHAR | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -0.30 | -1.41% | 21.00 | 16:35:08 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 21.40 | 21.40 | 21.40 | 21.00 | 21.30 |
| Industry Sector |
|---|
| OIL & GAS PRODUCERS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 26/03/2025 | Final | GBP | 0.00847 | 12/06/2025 | 13/06/2025 | 18/07/2025 |
| 18/09/2024 | Interim | GBP | 0.00363 | 19/12/2024 | 20/12/2024 | 22/01/2025 |
| 27/03/2024 | Final | GBP | 0.0077 | 13/06/2024 | 14/06/2024 | 19/07/2024 |
| 06/12/2023 | Final | GBP | 0.0033 | 21/12/2023 | 22/12/2023 | 24/01/2024 |
| 06/12/2023 | Interim | GBP | 0.0033 | 21/12/2023 | 22/12/2023 | 24/01/2024 |
| 22/03/2023 | Final | GBP | 0.01 | 15/06/2023 | 16/06/2023 | 12/07/2023 |
| Top Posts |
|---|
Posted at 18/7/2025 09:19 by mancman1 when the PHAR share price was 21.30p. My PHAR dividend appeared in my Interactive Investor account this morning. |
Posted at 18/7/2025 08:25 by cwa1 when the PHAR share price was 21.30p. Agreed oia, it's certainly no big deal. However, I wonder if it's indicative of something sloppy in that in all the years I've been investing in many, many, MANY companies and receiving thousands of dividends, it's only about the third time I can recall a dividend payment date being shifted. It's VERY unusual.Probably just bad luck-but it would happen to PHAR ;-) |
Posted at 18/7/2025 08:21 by yasx when the PHAR share price was 21.30p. Another week of epochal developments at Pharos - no doubt the next presentation will include a slide indicating how they managed to pay the dividend a few days after the due date, demonstrating their commitment to holders.It seems from the update nothing due until late Q3 here. I yesterday sold a small amount and will continue to do so over the coming weeks - still have plenty to sell. I am comfortably in profit even though the complacency of the Board has greatly reduced what should have been far greater profit in the hands of acapable team. The opportunity cost is too high given great plays elsewhere - waiting for 25p is counter productive. Pharos will get there eventually, but I can’t bear to listen to several more quarters of repetitive guff from KR and the dividend is insufficient. |
Posted at 17/7/2025 17:15 by cwa1 when the PHAR share price was 21.30p. Dividend delay(only a few days). Bank getting the blame...but wouldn't be a surprise if they've just been too busy at PHAR HQ to keep a proper eye on it ;-)Final Dividend Payment Date Pharos Energy plc announces that the final dividend of 0.847 pence per ordinary share for the financial year ended 31 December 2024, scheduled to be paid on 18 July 2025, will now be paid on the next business day of 21 July 2025 to all shareholders due to receive the dividend credited to their bank account via funds transfer. There is no change to eligibility for the dividend, which is payable to shareholders on the register of members at the close of business on 13 June 2025. The delay in payment is a result of an administrative error at the Company's bank in processing the BACS payment representing the dividend. Shareholders receiving the dividend payment via cheque will not be affected. |
Posted at 02/4/2025 08:08 by cwa1 Small snippet from Progressive Research:-2024 final results – well placed for 2025 Pharos Energy released 2024 results on 26 March showing a solid financial and operating performance, materially in line with the trading update released on 23 January. The key message is that, with its cash-generative position augmented by a very strong balance sheet, the company is well placed to build momentum. The new opportunities are likely to manifest themselves through both organic and inorganic growth. We believe that the strong platform, with the potential for material new ventures, has the potential of providing a significant boost to shareholder value. ▪ Financials − solid performance. Pharos reported a 2024 profit of US$23.6m compared to a loss of US$48.8m in the prior year, which were adjusted by impairments and impairment reversals in 2023 and 2024, respectively. The underlying business post-tax profit was reported at US$3.7m in 2024 compared to US$5.0m in 2023. Pharos has a very strong balance sheet with net cash of US$16.5m and remains debt-free. Management is proposing a final dividend of 0.847p/share to give a total full-year dividend 1.21p/share, which represents a 10% annual increase. ▪ Operations − in-line. Pharos delivered operational performance in line with expectations across its businesses in both Vietnam and Egypt. Overall, production for 2024 in total across both countries reached 5,801 boe/day, with guidance for 2025 at 5,000-6,200 boe/day. Please see overleaf for additional detail. |
Posted at 01/4/2025 08:35 by cwa1 A little snippet from Shore Capital's update from today:-Updated financial estimates highlight shift to growth from yield. We assume a FY25F capital budget of $46m with an infill drilling campaign in Vietnam starting before year-end. We have also taken a more conservative view on the pace of that Pharos’ Egyptian receivables balance declines ($30m at end-FY24A) given the limited progress YTD. This reduces FCF to $7m in FY25F and $15m. Our dividend outlook is unchanged, with Pharos able to use its debt-free balance sheet to deliver modest dividend growth through this investment phase. Our new FY27F estimates are limited to the existing reserve base, and we anticipate making upwards revisions following appraisal success in Vietnam and possibly on an agreement about amended concession terms in Egypt. 41p/share fair value. Our Tangible NAV of 41p/share assumes $70/bbl Brent and a 15% cost of capital. It is unchanged after updating our estimates for FY24A results, year-end reserve data and management’s updated investment plans in Vietnam and Egypt. A $10/bbl change in our oil price assumption would move our fair value estimate by c.23%. In addition to creating value through appraisal activity in Vietnam and concession amendments in Egypt, we see scope for Pharos to pursue new ventures to expand and diversify its portfolio. |
Posted at 26/3/2025 09:36 by cwa1 Snippet from Shore Capital:-Pharos Energy’s FY24 results statement outlines how the business is positioning itself for medium term growth in both Vietnam and Egypt. FY24A financials are broadly in line with our estimates with the group ending the year debt free and with $16.5m of cash-in-hand. The production outlook for the year ahead is unchanged, but with management now highlighting the potential to flex capital spending upwards to accelerate activity that can boost production in future years. House Stock. FY24A financials. Net production of 5.8kboe/d generated Revenues of $136m, EBITDAX of $86m, Operating Cash Flow of $49m and Free Cash Flow of $25m. The reported EPS of 5.7c/share includes a $20m post-tax impairment reversal. 10% YoY dividend growth. The Board is proposing a final FY24 dividend payment of 0.847p per share, taking the full year dividend to 1.21p. This equates to a 5.6% dividend yield. The payment is subject to shareholder approval at the upcoming AGM. Scope to do more in FY25F. Management has expanded upon the initial $33m capital budget it outlined in January. The new minimum budget of $37m includes long-lead items for future Vietnam infill drilling, but this budget could grow to $66m if this infill drilling is accelerated and the Egyptian consolidated concession agreement is secured early enough to add development wells to the H2 FY25 campaign. These additional investments are not expected to materially impact FY25 net production guidance of 5.0-6.2kboe/d (Shore est. 5.5kboe/d) but would increase the anticipated production uplift in FY26F. Reserves and resources update. Pharos’ year-end net 2P reserves total 21.3mmboe (c.42% in Vietnam). The upwards revision in Vietnam linked to the license extensions secured late last year was offset by a downwards revision on the El Fayum concession in Egypt. Seeking extension on Blocks 125 & 126 in Vietnam. Pharos has applied for a two-year extension to the PSC exploration phase that would provide the company with additional time to secure the farm down it is seeking before drilling a well on Prospect A. This is likely to defer the timing of the high-impact exploration well, but should reassure investors that management is not rushing to proceed without a farm out. Long lead items have been ordered and should arrive in Q2 FY25. Pursuing organic and inorganic growth. The CEO commentary is clear that Pharos’ strong balance sheet can be a platform to pursue acquisition opportunities and references its in-country experience, which suggests to us a focus on its existing geographies. Like other small-cap producers, Pharos is cognisant that it could benefit from greater scale. |
Posted at 21/3/2025 00:46 by oilinvestoral Good interview overall! She comes across very well and a definite upgrade to mumbling Jann! There's no game changing revelations but some very useful insights. I would highly recommend shareholders listen to it. She answered most questions very well although she did struggle with one or two key questions. The interviewers could've been better (interviewers lacked knowledge about the oil and gas space).A few snippets from the interview: Starts of by talking about her background in investment banking / advisory roles before becoming CFO then CEO at Wentworth and more recently becoming PHAR CEO. Provides a very brief introduction into Pharos and where it sits within the E&P lifecycle (steady production while having exploration upside). Mentions company is in a strong position having repaid its debt and have stable production volumes that allow maintaining a stable dividend. This is the first time Pharos has been able to look forward and look to scale up the business. We think there is growth from existing assets but we also need to also look elsewhere. We would like to expand our position in South East Asia while extracting more volume from Egypt in a sensible way. Talks about scale , bigger portfolio of assets and diversifying risk across multiple assets. Talks about the general market conditions/ macro challenges and the difficulties being a small cap oil & gas companies. Dealing with governments & various stakeholders.There are some non-core assets being released by the majors and larger independents who are looking to clean up their portfolios but cash flowing assets are in big demand in the market . The challenge for small & mid caps is having access to capital . Factoring in high cost of capital can erode returns. Talks about ESG threats and opportunities. States that we don't pretend to be something we are not! We are not ashamed of being an oil and gas business. We are helping bring countries out of poverty by providing energy etc. The shares are trading at a large (50%) discount to NAV. Struggled to answer the question about how she would close the discount. Talks about the IR piece and reaching out. She says that in terms of trading at a discount that it has been a theme for a long time and I don't see that closing . I'm not sure I can sit here and say that I can close the gap. Everyone would say the same thing. I don't see how that is feasible with the current lack of appetite for re-investing in the sector. I do think consolidation is an interesting topic in the sector (scale & diversification in the sector). Depressed asset values may create opportunities (possibly inorganic).Classifie |
Posted at 16/12/2024 13:47 by oilinvestoral New note from progressive: Nothing majorly different from what we already know but very positive. They forecast 47 million in net cash end of 25 which is similar to 50ish million I calculated using my spreadsheet. Their end of 2024 estimate is lower than mines though (that would explain the difference). Pharos Energy released an update on 5 December that highlights a pick-up in activity and a further strengthening in the balance sheet. The group had net cash at the end of November of approximately US$18m, which compares to US$17.5m at the interim stage and comes despite an increase in activity. The group has completed a two-well infill programme on the TGT field and drilled an exploration well in Egypt that encountered oil and will be tested in December. Pharos would appear to be in great shape going into 2025, which looks to be an exciting year for investors. Vietnam. Pharos completed a two-well infill programme on the TGT field, with both wells producing in line with expectations. Production for the year to date has been 4,324 bbl/day, which is in line with 2024 guidance of 3,900-5,000 bbl/day. The approval process for five-year licence extensions on both fields (TGT and CNV) is now in its final stages, which would allow the company to start further investment in the fields. Talks with potential farm-in partners and rig contractors continue on Blocks 125 and 126 in the underexplored Phu Khanh basin. These contains significant prospectivity with mean unrisked resources of 13.3 billion boe. Egypt. The group drilled a second commitment exploration well on the El Fayum PSC and found oil bearing reservoirs, which will tested in December 2024. Pharos has also brought a development well onstream. Working interest production at the end of November was 1,436 boe/day, which compares with an average of 1,395 boe/day in 1H 2024. The 3D seismic acquisition on the North Beni Suef PSC is expected to be completed in Q1 2025, with interpretation and mapping to follow. The consolidation discussions (for its two licences) continue, with EGPC (Egypt General Petroleum Corp) and IPR fully engaged and aligned. ? Finances. Net cash at the end of November was approximately US$18m compared to US$17.5m at the end of June 2024, despite the increase in expenditure, share buyback programme and dividend paid. Pharos continues to benefit from the continued payment of receivables from EGPC. By the end of November, the group had received US$24m (US$14.8m at the end of June). However, the receivables balance outstanding is stable at US$31.1m. Conclusion. With its strong balance sheet, Pharos is ideally placed to increase expenditure on its asset base in 2025, which could add significant shareholder value. |
Posted at 25/9/2024 07:56 by cwa1 In a first for Pharos, they've been descibed as "exciting"!!Progressive Investment Research have issued research this morning entitled: Excitement picking up Excitement picking up Pharos Energy released its interim results on 18 Septemberwith the group reporting net income of US$15.3m compared to a loss of US$14.3m a year earlier. This increase was mainly due to a reversal of impairments.The most impressive feature was that Pharoshas shown a major strengthening of its balance sheet, with the groupmoving to net cash as it benefits from strong cash flow, additional payment of receivables from Egypt and a relatively low level of capex. These factors have combined toallow management to increase returnsto shareholders, as well as moving the business back onto a growth footing. The operational delivery is impressive, and there is clear potential for more. ▪Strong balance sheet–debt free. Pharos Energy has an exceptionally strong balance sheet. The group had net cash at the end of June of US$17.5m (compared to net debt of US$6.6m at the end of 2023) as itwas able to benefit from strong free cash flowand the additional payment of receivables in Egypt.Currently the group is debt free. The balance sheet islikely to tightenmodestly as capital expenditure is ramped up,but this will stimulate growth.The lack of debt gives management more flexibility in its operations. ▪Back to growth. Thefirst half of 2024 was relatively quiet for the group with capital expenditure being a modest US$6.8m. However, activity is being ramped up,with capex for the full year targeted at US$26m (after the Egyptian carry). The cash is being channelled into wells in Vietnam and Egypt,which should help to grow production. In Vietnam, management is working on five-year extensions of licences,leading to targeting additional reserves and production. Pharoshas also started a two well programme onthe TGT field with the ambition to start increasing production. The group continuesto have discussionsover the farm-out of Blocks 125 and126 ahead of drilling in 2025.In Egypt,exploration and development drilling has now commenced. ▪Cash back to shareholders.Pharos, with its strong balance sheet, continues to return cash to shareholders. With the results, Pharosannounced thatitintends to pay a 2024 interim dividend of 0.363p/share,represe |
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