Pharos Energy Share Discussion Threads

[jimarilo] 04/11/2022 13:27

DIED SUDDENLY | OFFICIAL TRAILER - Streaming November 21st




Dr. Mike Yeadon — Former Pfzer VP names names of his ex-#BigPharma colleagues

& calls for accountability for those directly responsible for #CrimesAgainstHumanity

[oilinvestoral] 28/10/2022 18:10

Have a nice weekend CWA1 and all! Actually, Soco is holding up remarkably well compared to my other oil shares this week and over the past couple of months it seems to have outperformed oil cos... I know that one swallow does not make a summer but there are signs of the long awaited turn around coming to fruition...

[cwa1] 28/10/2022 17:08

Well, another week seems to have been effortlessly shrugged off...won't be long before someone is telling us Christmas is just around the corner...

Fairly uneventful week for PHAR-though I was lucky enough that the invested part of my portfolio had a very solid week. Hope everyone else did OK too.

So what wine goes with fish and chips then ;-)

Take it easy all and have a good weekend.

Cheers

[ashkv] 28/10/2022 13:58

Interesting article in the FT about $ earning dividend paying firms benefiting from weak sterling.

Weak pound adds £6bn to UK company dividends
Dollar payouts to shareholders worth more to investors as sterling slides

Joshua Oliver OCTOBER 26 2022


Investors in UK companies can expect to receive an additional £5.7bn of dividends this year because of the pound’s slide against the US dollar.

The extra cash underlines how a weaker UK currency benefits many British companies that earn a large share of their income abroad, as well as sterling-based investors whose portfolios have international exposure.

The pound hit a record low against the dollar last month following the UK government’s ill-fated plans for extensive and unfunded tax cuts. Even after recovering, it is still down 15 per cent this year.

But the pound’s decline will deliver a record boost to dividend income for British investors, increasing the sterling value of payouts from London-listed companies by almost 6 per cent this year, according to a widely-followed industry report by fund administration group Link.

“The exceptional weakness of the pound [has] enormously flattered the figures,” said Ian Stokes, managing director at Link Group. “As the dollar has soared in value, the translated value of dollar dividends has received a boost.”

Around two-fifths of UK-listed businesses declare their dividends in dollars or euros. Those income streams are now worth much more than they were last year, as the value of sterling has slipped to multi-decade lows.

The fall in sterling over the longer term stems partly from the dollar’s ascent. The greenback has been propelled higher by the Federal Reserve’s aggressive tightening of monetary policy this year. Higher interest rates typically draw in foreign capital as investors seek out more attractive returns.

The dollar has also been supported in recent months by its traditional status as a haven asset during times of economic and market stress.

But a weak pound also reflects investors’ worries about the future trajectory of the UK economy.

Still, a weaker currency does offer some silver linings for British investors. Sterling-based investors who own overseas assets, such as US stocks, have seen their portfolio hold up better during this year’s market sell-offs as the value of foreign assets increases in pound terms.

Dividend payouts — a crucial source of income for many retirees, pensions and charities — are another area where a weaker pound can be helpful to shareholders.

Companies like Shell and HSBC, which generate substantial overseas revenues, denominate their payouts to shareholders in dollars. But for investors who opt to take payment in sterling, the exchange rate uplift totalled £1.9bn in the third quarter, according to Link, which forecast a larger boost in the final three months of the year.

“On current trends, the boost in the fourth quarter is likely to be even larger and will bring an exchange-rate impact for 2022 roughly as big as during the global financial crisis,” Stokes said.

Link upgraded its forecast for total dividend payouts from companies listed on the main market of the London Stock Exchange, excluding investment trusts, to £97.5bn, an increase of 5.5 per cent from last year, supported by currency effects and higher payments from banks as well as oil and gas companies.
But UK payouts remain lower than pre-Covid levels, as many businesses took the opportunity during the pandemic to reset the amount of cash they return to shareholders.

[cwa1] 28/10/2022 08:06

Just for the record...

The Company was notified on 27 October 2022 that, on the same day, Jann Brown, the Chief Executive Officer and Sue Rivett, the Chief Financial Officer, purchased Pharos Energy plc ordinary shares of £0.05 each ("Shares") at a purchase price of £0.259495 per Share. The Shares were purchased on the open market pursuant to trading plans entered into by each Director on 19 April 2022.

[cwa1] 27/10/2022 13:01

...and for some colour on said IMF deal...

[ashkv] 27/10/2022 12:56

This is great news for Pharos - IMF deal reached by Egypt... look forward to PHAR updating on the same...

[ashkv] 27/10/2022 08:17

Google Finance has indicated that Pharos Energy per Google Calendar should announce an Q3 Earnings Update today / 27 October.

A Q3 update wasn't provided in 2021 and I was surprised when Google Finance/Calendar conveyed this... Any idea if any news is expected from PHAR today?

Been holding PHAR based on the same otherwise would have traded out as next update should be in Jan 2023 going by prior years. Thanks

Pharos Energy - Q3 2022 earnings release
Thursday, 27 October
Pharos Energy - Q3 2022 earnings release
More at www.google.com/finance/quote/PHAR:LON

[oilinvestoral] 25/10/2022 08:23

At this stage I've stopped opening the "transaction in own shares" RNSs from Soco. They are no longer worth the 30kb worth of internet data that they consume....Need to give us an update on that pivotal block 125 farmout discussions that have been ongoing since summer.More importantly we should've started our second TGT well by the end of this month. Need a flow rate on the first well.An Egypt update and rig progress wouldn't go amiss and also confirmation of the NBS well this quarter...

[cwa1] 25/10/2022 07:27

A "monster" buyback figure this morning :-)

Aggregate number of Ordinary Shares purchased 58,678

[cwa1] 21/10/2022 16:44

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

[oilinvestoral] 21/10/2022 11:25

Thank you sir!

[cwa1] 21/10/2022 11:13

I can't comment on accuracy obviously-but many thanks for doing that thdba0

[thdba0] 21/10/2022 08:50

I make it7,368,938 @ av price of 23.518p (=£1.73m)

[oilinvestoral] 21/10/2022 07:50

Anyone tracking these buybacks on a spreadsheet to work out total purchased and average price paid ? It's clear that there aren't many sellers or buyers at these low prices. Here's hoping we get an RNS about the drilling campaign in Vietnam which started last month or the farmout of the exploration blocks where talks have apparently been taking place ... I would certainly expect an update by mid November latest

[cwa1] 21/10/2022 07:34

And another feeble effort:-

Aggregate number of Ordinary Shares purchased 9,587

[investorwil] 20/10/2022 07:45

Yes, not many available.

[cwa1] 20/10/2022 07:34

Well, the share buyback has certainly hit "trickle" levels now:-

Aggregate number of Ordinary Shares purchased 10,191

[tomke22] 18/10/2022 22:48

They were my shares. I bit the bullet and sold off my holdings in my SIPP and ISA.
The holdings were under water by c£250k!

I reinvested the proceeds in a share that I am more hopeful of increasing in value.
SFOR Martin Sorrell's company which has so far had a bumpy ride. From £1.50 to £8.00 and then back again to £1.50 (currently £1.85). Worth a look if you are of an adventurous nature. Martin Sorrell is a genius and he is determined to build SFOR to be bigger than WPP because WPP fired him. I think he may do it. SFOR is at the leading edge of digital advertising and the world is switching to digital from print and media.

I still have a significant holding of PHAR in my trading account also under water and I don't have any tax gains I need relief from so i am holding on to those with gritted teeth.

I observed on this thread at c80p that the share did not have a floor. Why I did not follow through and sell is because I was emotionally attached to the holding. I am no longer emotionally attached hence the fire sale.

Tom

[oilinvestoral] 17/10/2022 08:20

Liquidity is the issue. They are limited by how much they can buy given the anaemic average daily trading volume. Although they are allowed to exceed the limitations set out in Article 3 of the Technical Standards due to the lack of liquidity, there are restrictions dictating how frequently they can exceed those.What we need is an "event" to increase the average daily volume over many days and weeks. At this rate they may even struggle to buy $3m worth by December ....

[cwa1] 17/10/2022 07:29

A barely worth bothering with announcement of 35,000 shares being bought back has been released this morning...



...is it too difficult to buy larger amounts without moving the price excessively? Or are there other reasons why the buybacks are currently so small?

[steved9] 15/10/2022 07:00

Jim - nobody is interested in reading your crack pot theories. Please stop posting rubbish on the oil co boards!