Pharos Energy Share Discussion Threads

[tyler19] 01/7/2024 12:11

I must admit, I’m not too worried that she doesn’t have a technical background. She’s previously worked at Panmure Gordon in their natural resources division and probably has good knowledge of M&A and investor relations, combined with her time at Wentworth, it’s not a bad choice. I believe the appointment probably reflects the new direction of travel, growth by acquisitions? Currently, there a lot of good opportunities out there.

[oilinvestoral] 01/7/2024 07:08

Katherine Roe appointed as new CEO

Mo Sayed joins BOD as COO.

I did some research a few years ago on WNT and saw a few videos of KR. She came across well but I was hoping for a technical person rather than a Bean counter….


Let’s see how the market reacts to this news.

[yasx] 27/6/2024 12:41

One can be forgiven for wondering if Pharos are actually in any active discussions with parties re 125 - all we have been hearing for the past couple of years is that they are at an advanced stage in terms of progress but that potential partners state that completion of any deal is contingent upon securing the rig - which, we were told months ago was now essentially identified and all but sorted.

In reality it seems there is no rig an no sign of any partner.

What has happened to the new CEO? If Jann is going due to retirement, surely this is a planned event and a search would have been undertaken many months ago to ensure an orderly transition.

This is beyond farcical.

[glavey] 20/6/2024 07:54

Except Jann, of course, she's running... one way or another.

[yasx] 19/6/2024 08:49

Still nothing from Pharos. No rig, no partner, no new CEO. Everything seems to stand still....

[tyler19] 13/6/2024 20:41

Oi, there aren’t many sellers at the current price, there’s been a lot of selling over the last few years. 66% of the stock is still held by major shareholders and if they haven’t sold so far, they may not easily sell as the stock retraces it’s chart but some will, along with some private investors.

The stock currently has a book value 51p, more than double its share price and has around £25M in cash. The broker consensus for the share price is around 39p. The chart can retrace significantly and still be very good value to Bradley. He may not make it to 30% before the share price becomes over extended but I think he’s been a wiley fox so far and I wouldn’t necessarily bet against him.

However, I do believe the volume will significantly pick up in coming months, partly due to the improving situation in Egypt and partly with potential interest rate cuts towards the end of year. Should all make for an interesting mix. He may well table an early offer? Your guess is as good as mine!

[oilinvestoral] 13/6/2024 11:25

"average volume of 237000 shares per day, Bradley can probably buy the remaining 13%, before he is required to make an offer, within 6 month"----Tyler Not sure it's that easy anymore.The only reason he managed to accumulate so much so quickly in a tightly held share was because we had large sellers last year. Both Lombard and York town sold huge amounts. I'm not sure the stock is available to get him to 30% without tabling an offer ...

[nigelpm] 13/6/2024 08:32

Yup more money for Bradley to buy more shares with.

[cwa1] 13/6/2024 08:17

XD today for 0.77p, with pay day being 19/7

[tyler19] 12/6/2024 23:03

Sorry, should have read 24 months or so and not 6 months. Divided the wrong number in haste.

[tyler19] 12/6/2024 22:06

Assuming the stock continues to trade at an average volume of 237000 shares per day, Bradley can probably buy the remaining 13%, before he is required to make an offer, within 6 months or so. To acquire 30% of the company at such a low price is an absolute bargain. I expect an acceleration of purchases as he approaches 30% as more and more investors catch on. Keep an eye on the volume folks.

This is clearly a conviction buy for him, it's one of his larger holdings, if not the largest.

I can see a few ways he can maximise his returns from here. Just hope we get some news on block 125 soon.

Please DYOR.

[cwa1] 11/6/2024 14:30

A few domestic issues, so I missed this holding announcement from Bradley released after hours. So just for the record he's gone above 17% now:-

[tyler19] 10/6/2024 18:52

Maybe it's finally time to start accumulating before any offer is made?

[tyler19] 10/6/2024 18:48

Bradley Radoff now holds over 17% of the shares. That's more than 50% required for a mandatory offer for the company. He may get the company at a bargain, particularly if he has the support of a private equity firm in the background. As many other long term holders here, I would like some positive news on block 25 before Bradley's stake gets much higher.

[yasx] 10/6/2024 11:03

One wonders what price the shares would stand at had Jann actually done something productive over the past few years.

[yasx] 07/6/2024 16:49

Another week of no activity at Pharos.

[yasx] 06/6/2024 09:39

Well, I suspect that is her next major objective. When she finally disappears, no doubt she will make multiple references to how she found a replacement despite the effects of Covid and Ukraine.

[steved9] 06/6/2024 07:14

If she takes as long to clear off as she has to find a rig……

[yasx] 05/6/2024 13:51

Complete inaction at Pharos - even the trading has dried up.

The dynamic Jann limps along collecting her pay cheque.....

[glavey] 04/6/2024 12:32

Still, it was good of her to mitigate the strains of voting...

[yasx] 03/6/2024 10:05

The wait continues - this is what Jann describes as “hitting the ground running”…;…

[yasx] 31/5/2024 10:51

I think a suitable role would be a volunteer at a local charity shop - I think she is well suited to that kind of thing. Anything other than that is probably beyond her capability.

What I do find unpalatable is her dismissive stance to reasonable criticism - she tends to roll her eyes and suggest that the person asking the question has it all wrong.

She needs to go as soon as possible - and take Sue with her.

[dunderheed] 31/5/2024 10:32

Agree, it looks like one lucky promotion leads to continual jobs, that respectfully, she has been out of her depth to fulfil. In her defense though, she is at an age where she deserves to retire now anyway and probably isnt looking for anything similar anymore (except for cushy ned roles?). I didn't didn't realise she was that old actually?
IMHO.

[yasx] 31/5/2024 10:19

Obviously Jann had not anticipated leaving (despite the excuse of retirement) and so the search for a new CEO is taking longer than hoped. It goes without saying that until a new CEO is found nothing will get done here - it has taken Jann several years to secure a rig and despite a promise every six months that this was imminent nothing has been sorted. She has been very fortunate to land the roles that she has in her career and frankly has retired knowing that there is no possibility of her ever getting another similar role in the future.