Pharos Energy Share Discussion Threads

[nigelpm] 31/3/2023 16:11

I've joined him - first top up for a while. Price looks far too cheap now.

[nigelpm] 31/3/2023 15:47

Hmmm I thought the Bradley question was my question along with a couple of other questions that actually read verbatim.

Yes, you're right - it was incredibly close to mine that I asked on the day but never got answered - great minds.

[nigelpm] 31/3/2023 15:46

Bradley taken advantage of recent panicking and gone 8% - Sue and crew must be getting nervous.

[cwa1] 31/3/2023 15:31

Thanks OIA, excellent news on a Friday to hear that Radoff has gone through another percentage point...



Tanks on the lawn...

[oilinvestoral] 31/3/2023 15:20

Hmmm I thought the Bradley question was my question along with a couple of other questions that actually read verbatim.As to the questions being harsh ... I actually toned them down and watered down the content (I sent them rev 3)! Rev 1 would've been totally brutal !

[oilinvestoral] 31/3/2023 15:17

Good news! Bradley Radoff has gone above 8% threshold!

[34adsaddsa] 31/3/2023 13:43

Lots of pretty brutal questions again. They deserve them.

It sounds very much like IPR are throttling capex.

[planetgong] 31/3/2023 10:14

I think she said she was aware of him and that she had spoken to him in the pre prelims conversation that are held with larger shareholders and was aware of his views. What I noticed was that during the meeting she twice emphasised that there were no sacred cows and that they were open to any opportunities to monetise pharos assets. That attitude is, I suspect, partly driven by Radoff's shareholding.
(ps did I mishear or did Rivett say the dividend gave a 9% yield? Using 1p +a third of next year + the usd3m may give a figure around that but seems misleading to me)

[steved9] 31/3/2023 08:03

What did she say nige?

[ark87] 31/3/2023 00:51

For $1,145,000 per year can they not find someone better?! I can't get my head around it.

[nigelpm] 30/3/2023 22:14

Really was. Cringeworthy stuff. They did answer my question on Bradley though.

[oilinvestoral] 30/3/2023 21:11

Embarrassing!!

[nigelpm] 30/3/2023 15:54

Poor old Sue - firstly fiddling around with her camera and then phone going off on the Investor meet call.

[cwa1] 28/3/2023 16:54

Apologies, the poster seems to be spamming that everywhere-but there isn't anything I can do about it unfortunately...

[daniel levi bmd] 28/3/2023 11:48

FYI

Exclusive! Coro Energy Confirmed; JV Talks on 'Stranded' 1.1Trillion Gas Asset! in Balochistan! (BUY)


Dan
x

[oilinvestoral] 28/3/2023 11:30

Need more rigs as 1-2 rigs only keeps production flat or gives minimal growth. They can't seem to secure a second rig for love nor money. Auctus seem to think it's more likely to happen next year (even though the presentation shows that another rig is pencilled in later this year)...

[34adsaddsa] 27/3/2023 09:05

The Egypt guidance is so bad. Are IPR throttling capex because they cashflow issues due to non-payment by the Government?

[oilinvestoral] 26/3/2023 23:39

This is very good news. Our own Jann Brown makes a quote in the article... Vietnam improves its petroleum law in bid to boost oil and gas fortuneshttps://www.upstreamonline.com/politics/vietnam-improves-its-petroleum-law-in-bid-to-boost-oil-and-gas-fortunes/2-1-1424695Operators in Vietnam are rejoicing about the country's new petroleum law, which could unlock some of the nation's exploration potential and reduce the burden of red tape as well as incentivising new production.The new law will come into force on 1 July 2023 having already been approved by the National Assembly.The two main themes in the new law are understood to be the introduction of fiscal incentives for frontier exploration and marginal field development, and a reduction of the regulatory burden.

[ark87] 26/3/2023 02:06

"J Brown Total Salary $1,145,000
Fixed $453,692
Variable $692,000"

Wow... How many hours per day do we think Jann spends working on Pharos? Doesn't seem like much is happening?!

[oilinvestoral] 25/3/2023 14:54

Fair points! Based on previous performance, you're very right to be worried. Re: the oil price, The far east is very energy hungry ATM and don't give a flying focaccia about the E in ESG! India has just sanctioned a multi billion dollar drilling & development campaign and the population continues to grow (1.4 billion & counting). All of whom will be consuming more energy. The lack of under-investment in oil since 2016, will soon come home to roost! Us Snyder Oil share holders have literally demonstrated patience of Shaolin monks! So it grated on me when others were telling us to be patient! However, we have waited this long and endured 3 years without dividends or capital growth) we may as well wait and see what 125 might bring. In the meantime, we can collect a few pennies per share in divi this year & next. All IMHO / DYOR

[richalert] 25/3/2023 12:57

OlAl. Yes I have to agree. I am worried about the Vietnam production, I'm worried about oil price. I'm just generally worried, because I can't continue to hold much longer. And longer is what it may take.

[oilinvestoral] 25/3/2023 10:24

"I am now definitely of the opinion that this company is just going to be milked of its final asset, and the shareholders will be left with nothing"-------------Rich alert That may be true but if you do a discounted FCF analysis on how much cash can be generated can be generated by this "milking" process before the licenses expire, it's still significantly more than the current share price. Assuming oil price doesn't crash and assuming they can maintain a LT Vietnam average production of $6,000-7000 BOPD. I have mentally written off Egypt many moons ago but even that , has got to be worth $20-30m (I know it's a far cry from the near quarter of a billion we paid for it but that another story). But even at $30m, it's worth 5p per share! The explo assets on block 125 are valued at zilch and once we have a farm out partner we may be able to assign some pennies to that asset as well. Like I have said many times previously in discussions with another poster, this is a play on oil price and the FCF generation of the Vietnam assets... It's worth much more than 22p, despite what could arguably be seen as the worst management team among London listed oilies!

[oilinvestoral] 25/3/2023 02:55

What have you got against working from home?

[oilinvestoral] 25/3/2023 02:50

I see the other board has been spammed by ALL CAPS ASHKV ! SMH Wasn't long ago he were ramping the backside out of it and lambasting anyone who highlighted the issues with bad management, poor hedging and lack of operational activity! I wonder if he still thinks they will be debt free by the end of 2022? Oops Now he has sold, he has changed his tune .... How things have changed!

[robs12] 24/3/2023 21:37

"Good fortune one and all" ....It won't be from being invested here....

Just popped in to see the comments on the results, ashkv pretty much sums it up.
Best of luck to anyone still holding.