Pharos Energy Share Discussion Threads

[yasx] 03/4/2024 10:30

Notwithstanding hopeless management thus far, the financial are robust and it is time now for someone to take up stewardship of this outfit and catapult it to a different level. As such, I have been buying more recently.

[yasx] 03/4/2024 10:28

Finally Jann concedes that Egypt has not worked out. The Co. accepts it has tried to flog Egyptian assets but there has been nil interest; the corollary being that others are not as foolish as the Pharos team were.

[oilinvestoral] 03/4/2024 09:43

Jann Brown : M&A is back on the agenda for PHAROS. Combinations to add scale.Apparently (if you believe it), that's part of the reason for her sudden departure.

[cwa1] 02/4/2024 17:48

Looks like we've entered the history books today!

I don't recall a company ever having to issue a correction to a TVR announcement before...

I know it's only a minor date issue, but it doesn't look very professional

[oilinvestoral] 02/4/2024 12:06

I totally agree. I hope Sue gets her marching orders at the AGM! Bean counters are a dime a dozen... That should suffice IMHO! I'm not sure Radoff would agree though ... Hopefully who ever they bring in makes Vietnam production improvement their priority because at this rate we will be producing sub 4,000 next year and sub 3500 the year after that! Financially, disastrous has been averted and the company will be remaining RBL by next summer. We haven't been in better financial shape since 2019!

[yasx] 02/4/2024 11:16

Oil,

Too much influence of a single party is never a good thing. Some balance is useful- Jann is going , perhaps replacing Sue as well should be sufficient for now.

Re 125 discussions- those two statements arecessentially the same thing just expressed in a different way. I don’t think there has been any significant progress.

[oilinvestoral] 02/4/2024 10:09

Magic_Spehar: "A number of parties have expressed interest and have been invited to review data. Discussions are ongoing (update Jan 2023)Parallel discussions with several potential farm-in partners for Block 125 in progress (update Jan 2024)"-----------MSThis is a very good point and should be raised tomorrow at the IMC webinar IMHO!

[wdkeyes] 30/3/2024 10:30

Sorry for off topic post, but anyone know what happened to Sharelockholmes ? I used to have an account there but it seems to have cancelled my payment end of Nov 23 and the website is either down or using such an expired certificate I can't access it.

[oilinvestoral] 29/3/2024 10:38

I totally agree ! I think BR will have a big say on who becomes CEO! He also voted against the non-execs ! I don't think they are safe either! He might want to bring in a number of directors!

[oilinvestoral] 28/3/2024 17:59

Next do Ashkv lol

[cwa1] 28/3/2024 17:54

You are no doubt correct but, if nothing else, I'm a determined old curmudgeon :-)

Have a good long weekend all

[the argus] 28/3/2024 17:37

Thanks for trying CWA but he’ll no doubt resurface at jimarillo102 and be back with more drivel. :(

[digbee] 28/3/2024 09:48

Jimarilo101 FILTERED

[oilinvestoral] 28/3/2024 09:23

Now there's a blast from the past ! Looks like this BB is going to descend into Chaos again with the return of Jimarilo!Going to leave you to it to you Jimmy! Take care !

[oilinvestoral] 28/3/2024 09:22

RNS: investor meet company next week. Glad they are still doing it.

[jimarilo101] 28/3/2024 08:33

The jabbed morons still wasting their time here

Mean while .......

Agenda 2030 being accelerated to agenda 2025.....

Digital id and currency ........swift planning to launch cbdc platform in the next 12-24 months

DON'T WORRY THE MARK OF THE BEAST DOESN'T SEE SKIN COLOR OR GENDER!!!!!

REBEL CALL
12.3K subscribers

[yasx] 27/3/2024 17:17

OilAl - Of course some pressure has been exerted - she must have known things are going to get more not less difficult. In this way she departs in a sort of dignified manner.

CM,

If, as we suspect, Radoff has exerted some influence one thinks it likely he may have some input into the choice of subsequent CEO. That being the case, an appointment might be coming sooner than you think.

Financially the Co. looks in pretty good shape and the dividend needs to be increased, along with more aggressive buying back of shares at these levels. When the existing scheme expires, they ought to extend it. All that is needed is for someone to come in and improve production and get 125 moving - both those could propel the shares much higher from here.

[peterbill] 27/3/2024 17:10

2023 Financial Highlights

· Group revenue of $168.1m 1,2 (2022: $221.6m 1,2)

· Cash generated from operations $88.8m (2022: $110.7m)

· Operating cash flow $44.9m 3 (2022: $53.4m)

· Cash operating costs of $15.70/bbl 4 (2022: $16.36/bbl 4)

· Cash balances as at 31 December 2023 of $32.6m (2022: $45.3m)

· Net debt as at 31 December 2023 of $6.6m 4,5 (2022: $28.9m 4,5)

· Loss for the year of $48.8m (2022: profit $24.4m)

· Net debt to EBITDAX of 0.06x 4 (2022: 0.23x 4)

[controlledmadness] 27/3/2024 13:24

Leaving Board but remaining as CEO till appointment and hand over.
So still in charge of day to day for significant future.
125 partnership is the only significant item for the board at the moment.

[magic_spehar] 27/3/2024 12:26

The sacking of Brown is the best news in years for the shareholders. Praise the Lord (and Bradley)!

[oilinvestoral] 27/3/2024 11:55

It's a SACKING in all but name! Most CEO have many months notice periods ! Some up to 12 months! She's not even getting 12 weeks! Pressure from Radoff did the trick! I suspect he will remove Sue at the AGM! He'll need help with some votes

[oilinvestoral] 27/3/2024 11:52

Ashkv/ LuckCounts Thanks for the relevant (Phar related) post ! You might want to remove it before the admin does ...

[ashkv] 27/3/2024 11:45

Had slipped from my vocab - is pertinent to some of my fellow ADVFNers who I wish well and I would hope move on from prior grudges :) ;)

CURMUDGEON
: a crusty, ill-tempered, and usually old man

[yasx] 27/3/2024 11:43

You don’t suddenly wake up and realise you are about to retire in a few weeks. If it was due to planned retirement, succession planning would have started months ago.

As for the rest, Egypt money coming in as I alluded to yesterday but 125 no progress as expectrd.

Overall shares better positioned due to Egypt receivables reducing and Jann going Have bought few more.