Pharos Energy Share Discussion Threads

[cwa1] 25/1/2023 17:11

Guys, maybe we should take a step back and draw a breath?

I have no intention of trawling through reams of posts to try and either prove or disprove the postulation that the current management team either do or don't have champions or detractors! Life's just too short :-)

Can we just leave it as a: "we agree to disagree" situation and move on to other, more important, matters?

I think the really important part of today was the upping of the stake by a potentially activist investor and I, for one, take that to be good news.

Now, is it too early to pour a small glass of wine :-/

Cheers

[oilinvestoral] 25/1/2023 16:53

So let me get this straight: are you saying that no posters who have posted here have ever championed management, vociferously defended their long catalogue of errors and questioned & ridiculed those who have been against this useless mob?Please come back when your slightly less disingenuous... cheers

[stepone68] 25/1/2023 16:48

Al, I don't recall a single poster cheerleading the management team but if you have evidence feel free to share it.

Cheers,
StepOne

[oilinvestoral] 25/1/2023 16:38

Sorry, not interested in engaging with you ! PHAR seems to have done well today (relatively speaking) which makes a nice change. Here's hoping they management don't get agreement from EGPC to delay the exploration wells!

[nigelpm] 25/1/2023 14:32

I don't recall a single poster cheerleading the management team but if you have evidence feel free to share it.

[yasx] 25/1/2023 11:41

Radoof adds to his holding - Jann probably nearly choked on her breakfast during on e of her work from home sessions!

But, jesting aside, this is exactly what is needed here - if only one of the other holders would sell their stake to Radoff allowing him to get to double digits overnight.

Either way, with Radoff clearly looking to increase exposure, coupled with the Co. buying back its own shares, the price should remain well supported in the near term.

If this can get to 30p that would be another jolly good wheeze for me.

[oilinvestoral] 25/1/2023 10:53

"Hopefully he won't let the company drift aimlessly for too much longer..."---------------He's an activist investor. This is exactly who some of us have been asking for the past 3 years! Judging by what he's done with his other holdings, he'll be asking for a boardroom seat, cutting the deadwood, improving profitability and focusing on value added growth.I'm sure some of the dynamic duo's cheerleaders won't be happy with this though!

[nigelpm] 25/1/2023 10:32

Yes - quietly accumulating whilst others become impatient and sell. Clearly done this before.

[cwa1] 25/1/2023 10:28

Excellent news to see he's continuing his stake building. Hopefully he won't let the company drift aimlessly for too much longer...

[oilinvestoral] 25/1/2023 10:08

Brilliant RNS: Bradley Louis Radoff ups his stake in Pharos form 5% to 6%!!!!! A few more percent and all will be revealed!! The dynamic duo should start packing up their stationary IMHO!

[yasx] 25/1/2023 00:56

I just do not understand the manner in which they plan affairs - it is as though they set out to ensure they achieve nothing and then seek to rely upon the most absurd of excuses in mitigation.

I hope the dividend is restored on the terms previously averred - which would give, give or take, around 5%. But, I am not convinced. Jann likes to miss stated goals and so unless she creates an exception to that rule we are in for yet more excuses.

Re partner for 125 - reckon will be lucky to have formally crystallised a name this year - might get as far as 'interested parties' until next year.

[oilinvestoral] 24/1/2023 17:50

Agree Yas , I'm not holding my breath for any game changing news in the short term.There doesn't seem to be much on the operational front. NBS should be drilled by March but they are seeking an extension to September and blaming the delays on .... Wait for it ..... "rig availability"! With 125/126 delayed until the second half of 2024, they can take their sweet time with farmout negotiations. If we are lucky, could we hear something in Q3? Or am I being too optimistic? Let's just hope they don't end up farming out this prized asset to a known party / associate ! Vietnam producing fields also seems to be going into hibernation mode with no likelihood of development drilling in TGT & CNV in the near future... In all my decades in this industry, I have never come across an oil field that has its FDP approved on a well by well basis! Usually you get the whole field development plan approved and can drill the wells as & when you choose... not with PHARcical energy though! They need to get a new FDP approved every 12-18 months! SMH !

[yasx] 24/1/2023 15:22

I think it is a case of another lengthy wait before anything useful might emerge - all we have had for the past year is a buyback and that is all that is on the radar in the near term.

[yasx] 18/1/2023 18:23

I have seen anything from him directly, but someone mentioned elsewhere that he had abandoned oil plays and decided to put the proceeds into biotechs.

Given how that sector has fared in recent months, I guess he might have squandered what little he had left! But then, I am not sure what he has been up to - all i know is since he disappeared the thread has seen little in the way of excuses for management incompetence.

[yasx] 18/1/2023 18:19

OilAl,

JSE clarified matters this morning which helps alleviate concerns - bit of a bounce but expect this to continue to an even greater extent upon formal clarification or resumption of production

[oilinvestoral] 18/1/2023 10:12

"Discussion on the other thread about the effectiveness of the buyback as well as the performance giving rise to bonus payments. Let me put it this way - Jann has failed on every single issue as far as I am concerned and ought not to be given a salary, less still a bonus."---------Totally agree! The pugnacious one has been trying his best to entice me into debating with him LOL! He jumped onto my response to dunder with his usual arrogant condescending and egotistical diatribe. His financial naivety and cluelessness know no bounds , so I have ZERO interest in discussing/ debating anything with him! We'll just have to agree to disagree!

[oilinvestoral] 18/1/2023 10:06

"No wonder the Kent dud eventually gave up backing this lot and took a staggering percentage loss on the chin." --------Wow!! I hadn't been keeping up with his dealings since he departed! It probably means it's time to sell one of my properties and put the proceeds into PHARcical energy if Jim Cramer is selling.

[oilinvestoral] 18/1/2023 09:08

I'm very long JSE and averaged up significantly in the 60s & 70s ! I believe that in 12-18m time we will look back at the last 6 months a huge opportunity! The issues have severely impacted managements ability to do anything in recent months. Once addressed, I expect RBL announcement along with further acquisitions.

[oilinvestoral] 18/1/2023 09:05

Hey Yas Egypt is one worst places in planet earth to do any type of business (more so when it is an oil business being suffocated by one the most regressive tax systems in the world)!I've lost track of the latest with CNE in recent weeks. I know they are in a tussle with a number of their significant shareholders. They are another example of a self serving BOD looking after their own interest.

[yasx] 17/1/2023 16:16

Re JSE,

I can't say with a high degree of confidence that the issues are not far greater than one might have anticipated - hope it turns out well but the market is not very convinced right now.

I am still long of the shares.

[yasx] 17/1/2023 16:15

OilAl,

Not quite as bad as Pharos, but have you seen the valuation being put by the Board of CNE to Egypt - so why did they buy in that region.....