Pharos Energy Share Discussion Threads

[oilinvestoral] 16/6/2025 12:08:15

Yasx: "KR seems to make Jann look like a dynamic business dealmaker."


xxxxxxx.


Yas ,


Not sure I totally agree with this to be honest. Remember Jann was one of the key architects of the 215 million Merlon acquisition. 215 million is worth more than double PHARcical's current EV! Let that sink in! That doesn't even take into account the annual 6-8 million finance charge to cover the debt that was taken on that was paid for 4 years. The Merlon value destruction really needs to be studied

[oilinvestoral] 16/6/2025 11:44:18

Hi Yas,


I haven't looked at CEG in a long time. I was put off by the ex LGO side of the business. I had an ex colleague that worked for Perenco in Trinidad and some of the issues that he mentioned to me just made Trinidad uninvestable for me. The exploration / old Bahamas Petroleum side is a lot more exciting and as you say validation from chevron almost gives it a seal of approval. It is one I would be tempted to take as a punt / trade in the run up to spudding their explo well. Do you know what the timelines are like for that?

[yasx] 16/6/2025 10:51:42

OA,

Have you ever taken a look at CEG? Have held for a while and considered it one to stick with post Chevron deal. Malcy is positive which is always a concern!

[yasx] 16/6/2025 09:05:27

KR needs to get a move in with the acquisition - if oil prices continue to firm deals at a favourable price might not be available.

If there is no prospect of a deal, time to restore the dividend.

Oil shares in demand this morning, but not this dud.

[cat33] 15/6/2025 15:48:49

Getting close to the big one https://energy.beehiiv.com/p/jim-s-oil-mining-letter-june-15-2025Will the last part come together?

[yasx] 13/6/2025 15:08:37

KR seems to make Jann look like a dynamic business dealmaker. She has been in the post for nearly a year and seems to stutter her way through interviews (the purpose of such interviews remains a mystery) in an uncertain manner, offers no timelines on anything and thinks she and her colleagues are doing a remarkable job.

Oil price is firm, this is heading the other way.

[yasx] 13/6/2025 10:25:27

Look forward to it.

Re the bounce, from memory it went ex div yesterday so fell and the bounce today essentially takes it where it was a week or so ago and not far off the lows for the year.


As regards posters on this bulletin board, I feel standards have declined over the past decade or so - when this site first started there were far fewer posters and less shorter term punters. Some of the better informed contributors have since disappeared. I remember when ADVFN first came to the market (I took some in the IPO) around 99/2000 and it was a useful platform for informed exchanges. Some pf the smallcap/microcap threads are now infested with egregious fools.

[oilinvestoral] 13/6/2025 08:35:56

Good to see this dog barking ! Share up 10%! At this rate you'll get your 25p this afternoon.



Re the Pugnacious Maggot, he is too busy pumping his offside position in ENQ out of desperation to care but no doubt he is peeved off. Keeping away from him and ADVFN in general in recent weeks has been the best feeling I have to admit and I'll be reducing my online time going forward. He is simply too toxic and poisonous for my health.

[yasx] 12/6/2025 23:36:04

OA,

Indeed - looks a great pick. Poor Nigel must be wondering!

I don’t think you will get any news on the farmout this year, almost certain of that.

You will get something from Egypt because as you know other Co’s have achieved that. But the real catalyst I am waiting for is the announcement of an acquisition - surely discussions must by now be fairly advanced given MGW mentioned the likely geography.

[oilinvestoral] 12/6/2025 22:32:28

You timed your entry into the mystery company pretty well. I'm still accumulating. All this is noise IMHO. They plan to 4X their production rate in the medium term. You can add another zero to that 20% even if they achieve half what they are hoping to achieve.



Re Phar , you are correct but let's see what the next few months bring . There's a mid year trading update mid July so let's hope she has something to tell us re farmout and Egypt negotiations

[yasx] 12/6/2025 20:04:18

Another week of tremendous progress at Pharos - receivables reduced markedly, improved terms in Egypt, multiple partners tabling offers for block 125 and a stellar acquisition by KR leading to dramatic immediate enhancement of production output for a very modest sun!

Meanwhile, back on planet earth….

KR is lining up a few promotional interviews and trying to work out what ahe means by ‘taking a fresh look at 125’.

Small clue for you KR: the market suggests less looking, more drilling.

[yasx] 12/6/2025 13:47:14

OA,

I managed to pick up the aforesaid stock at various points over the past fortnight - from the lowest point of entry the shares are up around 20pc.

As for Pharos, well, noteithstanding the bounce in oil/oil shares, this laggard seems to have no pulse. Well, at least we will get the 0.85p dividend which is derisory.

[oilinvestoral] 11/6/2025 17:38:38

Happy that PHARcical have finally managed to get this 2 year extension across the line. Let’s hope they can deliver on the long promised farm out partner.

Also it’s been a few months since CNE delivered their Egypt agreement. Here’s hoping for something here soon.

[oilinvestoral] 11/6/2025 17:36:02

Hi Yasx


Re : post 2495


Sorry about the late response. Been busy enjoy life offline & away from ADVFN. I too have been adding to said name. Recent volatility has been a real blessing. Overall portfolios have exceeded all time highs a couple of weeks ago (despite the lacklustre performance of PHARcical and Jadestone). So I have been harvesting the fruits of my labour. Life is too short & too precious to waste time arguing with pugnacious pensioners.

[yasx] 10/6/2025 08:35:53

Extension re 125/26 - no partner and never to be drilled.

Kicking the can down the road as always.

[cwa1] 10/6/2025 08:10:35

Snippet from a brief update from Shore Cap. this morning:-

Still a potentially material catalyst. We assume a first exploration well on Block 125 targets a large oil prospect, which fully unrisked could add c.50% to our 39p/share Tangible NAV. Located in the Phu Khanh frontier basin, it is a high-risk opportunity; but benefits from an oil discovery to the north that confirms the presence of a working petroleum system. A farm out deal remains a potential FY25F catalyst that could be followed by visibility on the timing of exploration drilling.


Investment case remains focused on production growth. The licence extensions Pharos previously secured for its production assets in Vietnam has enhanced the attractiveness of further investment in these fields. The FY25F capital budget of $33-40m is heavily weighted towards improving production at both TGT and CNV. This should result in higher net production in FY26F, generating additional cash flow for shareholder returns and new ventures. The company’s Egyptian portfolio also contains significant scope for production growth, that could be pursued after a concession consolidation is agreed and the pace of payments for oil sales improves.

[cwa1] 10/6/2025 07:13:29

Blocks 125 & 126 two-year licence extension approval

[cwa1] 06/6/2025 14:46:44

To paraphrase Kylie, we should be so lucky-lucky, lucky. lucky....

Progressive Research have an update out entitled:Ducks lined up for 2025. Which is...kinda...funny in the first place!

▪ 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$70/bbl and adjusting for cash and a risked 50%
of Egyptian receivables. We achieve a value of 54.6p/share. This does not
include any upside from its 2025 investment programme. Note that this
valuation is for information purposes only and does not represent a target
price.

[yasx] 06/6/2025 11:18:14

Can sell a seven figure line of shares in one of my accounts for just over 20p - have electrd not to do so for now.

[glavey] 06/6/2025 11:00:03

Hasn't it been school holidays? She's probably not been near the office...

[yasx] 06/6/2025 08:58:43

Another great week at Pharos - for KR at least, collecting her salary for strenuously exerting herself. Well, not quite, but she did an interview with Malcy a few weeks ago!

[yasx] 05/6/2025 14:24:50

Chessman,

Since you wish to be pedantic, I ought to have mentioned that unfortunately I recently underwent surgery in Germany. Given I am still recovering from the same I was unable to attend the AGM.

As regards Pharos, I went in around Q1/Q2 2020 shortly after Covid became widespread. Pharos has been hugely profitable for me (essentially I have trebled my original investment haviing traded the gyrations several times from 20-22). However, since then it has just flatlined and could/should have performed far better save for indifferent management. That is the cause of my frustration over the past few years.

[chessman2] 05/6/2025 13:02:57

YasX, I can't resist replying as surely it is fortunate you are recovering rather than unfortunate!

I'm fortunate as I sold at a higher level. However, the loss stills hurts. Otherwise I'm relying on my other oilies to reduce the pain.

[yasx] 05/6/2025 12:40:04

I am seriously contemplating lowering the exit price to 20p - I know we are almost there but need sufficient liquidity to exit.

Unfortunately I am recovering from surgery and hence was unable to attend the AGM otherwise would have exposed the guff from KR in terms not uncertain.