Pharos Energy Share Discussion Threads

[yasx] 17/9/2024 07:20

There is no point in arranging a presentation if they have not announced any progress prior to it. All we will get is the repetition of being in advanced talks with multiple partners.

[oilinvestoral] 14/9/2024 12:36

"Well, you are a little more optimistic than I am regarding progress on the rig and partner announcement. I don’t think we will get anything prior to the end of the year."----------------I suspect / expect to get both this year based on what they told us in March. There are certain aspects of the rig uptake process that can't be rushed. It's a process that they simply need to go through.The only fly in the ointment that they might encounter is agreeing the percentage terms of any deal. That process might extend the timeline. We should get a much clearer picture next week!

[yasx] 13/9/2024 08:57

OilAl,

Well, you are a little more optimistic than I am regarding progress on the rig and partner announcement. I don’t think we will get anything prior to the end of the year.

Pharos has been a very successful
investment for me having bought in heaviky around the Covid lows, doubled in value, sold it and re-entered when it fell sharply again. At the current price I again am showing a very healthy profit. My issue is what could have been achieved with better management, even after the Egypt acquisition. Jann’s complacency did shareholders no favours.

My target remains 30p and I hope further reductions in Egypt receivables and the rig announcement enable me to avhieve that. Am not expecting anything beyond that from this lot since they neither have the skill nor desire to do much else.

[cwa1] 11/9/2024 06:38

11 September 2024

Pharos Energy plc

("Pharos" or the "Company" or, together with its subsidiaries, the "Group")

Investor Presentation via Investor Meet Company - Interim Results 2024

Pharos Energy plc, an independent energy company, is pleased to announce that Katherine Roe - CEO, Sue Rivett - CFO, Mohamed Sayed - COO, and Minh-Anh Nguyen - Senior IR & ESG Associate, will provide a live presentation relating to its Interim Results 2024 via Investor Meet Company on Wednesday 18 September 2024 at 12:00 BST.



The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard up until Tuesday 17 September 2024, 09:00 BST, or at any time during the live presentation.



Investors can sign up to Investor Meet Company for free and add to meet Pharos Energy plc via:





Investors who already follow Pharos Energy plc on the Investor Meet Company platform will automatically be invited.

[cwa1] 10/9/2024 09:10

Thanks OIA, appreciated

[oilinvestoral] 10/9/2024 08:32

On M&A they state: "New ventures Building material financial capacity Pharos' long corporate history includes many transactions, entering and exiting different petroleum basins around the world. The existing portfolio includes significant scope for value creation and growth, so acquisition activity may not be a priority. However, our financial estimates indicate that Pharos is building material financial capacity (over $65m cash-in-hand and no debt at end-FY26F) to reinvest appropriately within the existing asset base and possibly fund new ventures. Any opportunities would be evaluated against the option of returning additional cash to shareholders."

[oilinvestoral] 10/9/2024 08:31

Improved fiscal terms in Egypt: The company is in discussions with the Egyptian regulator on consolidating its two concessions and improving the fiscal terms. Other operators in the country have secured such improvements in exchange for commitments to increase investment and we believe the parties should be able to reach a mutually beneficial outcome that increases the likelihood of material medium-term production growth (a 3-4x increase on FY24F by FY29F). The net 2C resources of 9.6mmbbls in Egypt are valued at a heavily risked 1p/share in our Tangible NAV estimate. This valuation should rise materially from a combination of better fiscal terms and an increasing likelihood of further investment.

[oilinvestoral] 10/9/2024 08:30

Decent report from shore capital issued this morning! Target price assuming 70/bbl oil is 49p and 58p at 80 dollar oil! Cash build is forecast to reach $67 million in net cash On block 125 they state : We expect confirmation of a rig slot to precede news of a farm-out, which together can firm up a significant catalyst for the stock. Assuming a 300-million-barrel prospect and a farm-out that halves Pharos' working interest, we estimate a discovery could be worth 24p/share unrisked.

[oilinvestoral] 09/9/2024 10:46

In saying all the below, I think we should give KR at least 6 months to get her feet under the table .Also there are certain aspects to do with rig uptake that are extremely difficult to expedite ! These include various inspections, 3rd party reports and contractual matters. Given what they said in March , I would expect that process to be nearing its conclusion! So I'm expecting a rig announcement , partner announcement and spud date confirmed (most likely Q2-Q3 2025 for drilling)!

[oilinvestoral] 09/9/2024 10:41

Indeed YasXHe was adamant (despite recent history of protracted Soco farmouts) that this time it was different and that Snyder would 100% drill block 125 in 2022! I said to him that based on my previous experience of how long seismic analysis, well design and planning might take , it'll be very late 2023 at the absolute earliest (that target was driven by licence expiry) but 2024 most the most likely year! Pharcical have found a way to miss my fairly pessimistic target! 3 years and 2 months from those discussions and the farmout partner who was allegedly "know to management" still hasn't been announced. Don't get me started on deals where partners have been "known to management" have led us! PS: it's a bulletin board so feel free to voice your displeasure with how your investment is being managed by the company! Last time I checked it was a free country!

[yasx] 08/9/2024 22:40

Nigel,

We have been waiting for a few years - OilAl will confirm the dud failed politician proclaimed in 2022 that a final partner had been identified and was adamant 125 drilling would be undertaken no later than 2023 in the worse case scenario - here we are approaching 2025 and there is no rig and no partner

I can’t get my head around the baffling appointment of KR - disappointing and underwhelming is putting it mildly.

[nigelpm] 08/9/2024 18:54

He he - perhaps better to just wait for the RNS!

[yasx] 06/9/2024 16:11

Weekly will do. Perhaps Pharos can provide us an annual 'actual' update on 125 rather than repeating the same paragraph from the year prior.

Hope that helps. Close the door on your way out.

[wdkeyes] 06/9/2024 15:53

Have you considered updating us daily ?

[yasx] 06/9/2024 06:36

Another week goes by in which the Board get paid for doing very little.

It has to be the least dynamic bunch I have ever encountered.

[oilinvestoral] 05/9/2024 09:39

Didn't Petra Fischer go from 0 to 6.85% a mere month and a half ago ? Very odd and doesn't make sense to me !

[cwa1] 04/9/2024 10:01

Petra Jutta Fischer goes FROM 6.85% to just over 3%. Hopefully Bradley will be hoovering them up...

[yasx] 03/9/2024 08:04

The complacency continues - perhaps we can see an increased buyback scheme and/or increased dividend. Financially the Co. is in good health and with no sign of explo developments perhaps they need to entice income investors.

The entire Board and senior management team here are utterly useless.

[yasx] 30/8/2024 07:56

Another week of no progress on 125 - three years or so on from declaring they were at an advanced stage of negotiations with multiple partners, one can be forgiven for thinking if any of the aforesaid partners actually exist….

They are being insouciant to the point of persistently pauperising shareholders. Previously one hoped removal of Jann might be the catalyst for change in fortunes, but the arrival of Roe is probably a backward step (that really is saying something).

As OilAl puts it, truly a Pharcical state of affairs.

[yasx] 22/8/2024 06:45

KR seems to be no better than Jann - simply content with the business ticking iover.

Block 125 appears to have made no adequate progress and it is possible that under complacent stewardship of KR (and prior to that the formidable Jann) it may never go anywhere. Transferring the operational chap fro Egypt to VN was an absurd promotion.

If Radoff is serious about Pharos (and he appears to be) he needs a wholesale clearout of the current Board. Pharos is in an enviable position right now but the market is not reflecting the potential of a possible gamechanging asset in VN which this lot seem incapable of moving forward.

[cwa1] 13/8/2024 16:00

Bradley still accumulating and goes above 18%

[nigelpm] 13/8/2024 15:54

Scancell up another 6% today. That passing comment yasx might haunt you!

Meantime Radoff goes over 18%.

[nigelpm] 10/8/2024 10:55

On Pharos, the value here looks pretty good to me and the right market conditions.

- You have a persistent buyer in the market
- A buyback

[nigelpm] 10/8/2024 10:03

amd his (rapidly reducing in value) position in Scancell.

You might have to adjust that!

Almost doubled in a few weeks.