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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Pharos Energy Plc | LSE:PHAR | London | Ordinary Share | GB00B572ZV91 | ORD 5P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| -0.40 | -1.51% | 26.10 | 46,463 | 16:29:35 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 26.10 | 26.90 | 26.10 | 26.10 | 26.10 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Oil & Gas Field Services,nec | USD 167.9M | USD -48.8M | USD -0.1168 | -2.23 | 110.72M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:35:24 | UT | 10 | 26.10 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 24/7/2024 | 07:00 | UK RNS | Pharos Energy PLC Transaction in Own Shares |
| 23/7/2024 | 07:00 | UK RNS | Pharos Energy PLC Transaction in Own Shares |
| 22/7/2024 | 17:30 | UK RNS | Pharos Energy PLC TR-1: Notification of major holdings |
| 22/7/2024 | 17:28 | UK RNS | Pharos Energy PLC TR-1: Notification of major holdings |
| 22/7/2024 | 07:00 | UK RNS | Pharos Energy PLC Transaction in Own Shares |
| 19/7/2024 | 10:36 | UK RNS | Pharos Energy PLC Transaction in Own Shares |
| 18/7/2024 | 07:00 | UK RNS | Pharos Energy PLC Trading and Operations Update July 2024 |
| 18/7/2024 | 07:00 | UK RNS | Pharos Energy PLC Transaction in Own Shares |
| 17/7/2024 | 07:00 | UK RNS | Pharos Energy PLC Transaction in Own Shares |
| 16/7/2024 | 07:00 | UK RNS | Pharos Energy PLC Transaction in Own Shares |
Pharos Energy (PHAR) Share Charts1 Year Pharos Energy Chart |
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1 Month Pharos Energy Chart |
Intraday Pharos Energy Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 22/7/2024 | 17:57 | Pharos Energy-A New Beginning | 8,379 |
| 15/7/2024 | 11:22 | Pharos Energy / Soco International | 2,034 |
| 23/5/2003 | 00:09 | The Phuture is bright | 1 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 2024-07-26 15:35:24 | 26.10 | 10 | 2.61 | UT |
| 2024-07-26 15:29:35 | 26.10 | 1,795 | 468.50 | AT |
| 2024-07-26 15:10:22 | 26.64 | 2,000 | 532.86 | O |
| 2024-07-26 14:34:12 | 26.64 | 5,601 | 1,492.33 | O |
| 2024-07-26 14:29:01 | 26.31 | 1,660 | 436.75 | O |
| Top Posts |
|---|
Posted at 26/7/2024 09:20 by Pharos Energy Daily Update Pharos Energy Plc is listed in the Oil & Gas Field Services,nec sector of the London Stock Exchange with ticker PHAR. The last closing price for Pharos Energy was 26.50p.Pharos Energy currently has 417,793,417 shares in issue. The market capitalisation of Pharos Energy is £109,044,082. Pharos Energy has a price to earnings ratio (PE ratio) of -2.23. This morning PHAR shares opened at 26.10p |
Posted at 22/7/2024 17:57 by oilinvestoral Received mines on Friday and DRIPed into more PHAR shares. While the wait is frustrating, I'm feeling a lot more comfortable & positive about holding PHAR. |
Posted at 06/7/2024 16:05 by oilinvestoral Hi YasX I accidentally stumbled across the dross site for the first time in many many months.The failed local politician who lost over 95% of his life savings holding on to this dog holding from 2014 to 2024 seeing the share price drop from 460p to 22p seems to having another aneurism over comments made on this BB.He might be having a go at the people who have called KR a DEI diversity hire or were negative about her appointment. Glad to see he is self combusting quietly on dead site so we don't have to be subjected his egotistical guff and drivel on a daily basis and twice on Sunday! Still ramping away , hinting about a sale of the company etc etc! Some things will never change! Remember he told us (based on his investment and technical experience & expertise that Snyder were going to drill block 125 in 2022! 2 years on and a rig still hasn't been contracted. Take what the empty vessel says with a pinch of salt! LMAO |
Posted at 13/6/2024 20:41 by tyler19 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! |
Posted at 23/5/2024 07:33 by cwa1 2024 AGM Trading and Operations UpdateJann Brown, Chief Executive Officer, commented: "The Company has entered 2024 in a strong operational and financial position. Production for the first four months of the year is in line with guidance, with both Vietnam and Egypt contributing as expected. A significant milestone for Pharos was the receipt of $13.8m from EGPC, over $10m of which was paid in USD, 37% of our year-end receivables balance. These payments are a testament to the strength of our relationships with key stakeholders and our persistence in lobbying. Together with the strong cash generation from operations, this has enabled us to pay down $21m of our outstanding debt, leaving our total Group debt as at 23 May at $13m and net cash position at $8.7m. "We remain committed to the on-going share buyback programme and, subject to shareholder approval at today's AGM, expect to pay the final dividend for 2023 of 0.77p per share on 19 July, having paid the interim dividend of 0.33p per share on 24 January. "In Egypt, we are preparing to drill in both El Fayum and NBS later this year, while in Vietnam, preparations are well advanced for our 2H two-well drilling programme on TGT. I am pleased with the recent progress made on the licence extension discussions on both TGT and CNV, while in Egypt we are pursuing a consolidation of our two concessions into one to deliver a number of benefits. On Blocks 125 & 126 in Vietnam, we are progressing options to secure a drilling slot for Prospect A, the key catalyst for parties interested in farming in to these licences. "Finally, I announced my intention to retire as CEO of Pharos at the Preliminary Results in March and will remain in the post until my successor has been appointed to ensure a smooth transition. The Company will inform the market once that appointment has been made." |
Posted at 18/4/2024 12:01 by stepone68 "stepone68 3 Apr '24 - 14:26 - 8338 of 8347By coincidence I'm about to transfer my SIPP and had to turn everything into cash to speed the process up, so I am no longer a Pharos shareholder for the first time in over 20 years." It hasn't escaped my notice that since my sale on the 3rd the share price is up 15% :-( |
Posted at 16/4/2024 10:27 by cwa1 Snippet from Progressive Research report:-Delivering on operations and balance sheet Pharos Energy reported FY23 results on 27 March. Group net production of 6,508 boepd (FY22: 7,166boepd) was in line with guidance, assisted by successful development drilling in Vietnam and exploration successes in Egypt. Pharos’s strong cash generation resulted in a stronger balance sheet, with net debt reduced to US$6.6m (from US$28.9m at the end of 2022)and cash balances totalling US$32.6m. This left the group free to return more cash to shareholders, including a 10% increase in dividends, and to start to increase investment in 2024, including exploration in Block 125 in Vietnam, which if successful would be a key driver of shareholder value. ▪Profits hit by non-cash impairment. Pharos announced a net loss after tax of US$48.8m (FY22: US$24.4m profit), as it incurred a non-cash impairment of US$65.4m (FY22: impairment reversal of US$27.9m). Net cash from operating activities was US$44.9m (FY22: US$53.4m). ▪Strong balance sheet. With strong operating cash flow and Egyptian farm-out proceeds covering a significant proportion of capital investment, Pharos reduced net debt to US$6.6m at year-end (FY22: US$28.9m). In March, Pharos announced that it hasreceivedpayment of US$10m of receivables from the Egyptian state company, EGPC, which will largely fund its share of operational and capital expenditure in Egypt for 2024. ▪Operational performance. On the operational side, in Vietnam the recent lateral well drilled on CNV came on production significantly above expectations, allowing production to hold steady at 5,127 boepd in 2023 (2022: 5,418 boepd). In Egypt, Pharos has made a discovery in North Beni Suef and added two new production wells, although, as guided by management, production fell to 1,381 bopd in 2023 (2022: 1,748 bopd). ▪Outlook. Production guidance for 2024 is 5,200-6,500 boepd, comprising 3,900-5,000 boepd from Vietnam and 1,300-1,500 bopd from Egypt. In Vietnam, further development drilling is planned for 2H 24 on the TGT field, with expectations of an exploration well on Block125, with farm-out discussions in hand. In Egypt, the expectation is for capital allocation to continue to be modest, with activity focused on low-cost re-completions and waterflood activities on El Fayum. Total capex planned for 2024 is US$32.0m, of which US$4.9m is covered by the farm-out in Egypt. ▪Valuation. The US$279.3m valuation of tangible assets in Pharos’s balance sheet reflects the NPV of 23.5 mmboe of 2P reserves as at 31 December 2023 based on Brent oil prices of $81.5 for 2024, $79.0 for 2025 and $79.2 for 2026. This valuation is reflected in the net asset value of $273.5m |
Posted at 16/1/2024 07:39 by cwa1 Pharos Energy plc("Pharos" or the "Company" or, together with its subsidiaries, the "Group") Trading and Operations Update January 2024 Pharos Energy plc, an independent energy company, issues the following trading and operations update to summarise recent operational activities and to provide trading guidance in respect of the financial year to 31 December 2023 and outlook guidance for 2024. This is in advance of the Company's Preliminary Results on 27 March 2024. The information contained herein has not been audited and may be subject to further review and amendment. Jann Brown, Chief Executive Officer, commented: "Pharos delivered a strong operational performance across the portfolio in 2023 and there is significant operational momentum going into 2024. The Group had success on drilling in both Vietnam, with the CNV well coming in strongly, and in Egypt, with discoveries on the first NBS exploration well and the El Fayum exploration well. On Block 125, parallel discussions with several potential farm-in partners are ongoing and we have joined forces with another operator in the region to enhance our position in the rig market. "The Company has built solid foundations of sustainable cash generation from a robust and diverse production base, which enabled us to make returns of $8.4m to shareholders, invest in our assets and reduce our net debt to c.$6.5m, despite the ongoing payment lags in Egypt. Alongside this solid base, in Block 125 in Vietnam we have an exploration prospect which offers significant upside potential and we are progressing plans to drill as quickly as possible. We continue to execute on our strategy of regular returns to shareholders plus growth, and we look forward to delivering value for all shareholders in 2024 and beyond." Operational Highlights -- Group working interest 2023 production was 6,508 boepd net (2022: 7,166 boepd net), in line with 2023 guidance: o Vietnam 5,127 boepd (2022: 5,418 boepd) o Egypt 1,381 bopd (2022: 1,748 bopd) -- In Vietnam: o On TGT, Revised Field Development Plan ("RFDP") approved by MOIT on 9 January 2024 o On CNV, strong performance from first new lateral well, delivered on time and under budget and put on production in 1Q 2023 o CNV RFDP submitted to partners for approval, with discussions ongoing o Initial positive feedback received from PVN and MOIT on five-year extension proposals to the TGT & CNV licences o On Blocks 125 & 126, two-year PSC extension granted to 8 November 2025 o CPR for Block 125 published in July 2023, confirming a range of gross unrisked prospective oil resources of between 1,178 MMstb (1U) and 29,785 MMstb (3U) with a Mean value of 13,328 MMstb -- In Egypt: o Three new wells (2 producers and 1 injector) put on production and injection in 2023 in line with expectations o On El Fayum, exploration success with the first commitment well in the Abu Roash G and Upper Bahariya formations in July 2023. The well is set up for re-entry and testing in 2024 o On NBS, first exploration commitment well (NBS-SW1X) declared a commercial discovery in April 2023 and put on production in December 2023, opening up a new area for production and development o Second NBS exploration commitment well was drilled in the Abu Roash G formation at a deeper depth and failed to encounter oil-bearing sands. The result of this well does not hinder other mapped prospects in the concession o Approval received from EGPC in December 2023 for the grant of a 20 year development lease for NBS-SW1X o 3D seismic survey acquired on time and on budget in 2H 2023 Financial Highlights -- Group revenue for 2023 was c.$168m with minimal hedging losses (2022: $221.6m before hedging loss of $22.5m) o Vietnam c.$149m o Egyptian c.$19m (1) -- Cash balances as at 31 December 2023 were c.$32.6m; net debt c.$6.5m (2022: cash balances $45.3m; net debt $28.9m) -- Egypt receivable position as at 31 December 2023 stood at $37.3m (31 Dec 2022: $24.2m). The continuing volatility of the macro-economic environment in Egypt and further devaluation of EGP against USD during the year, plus the lack of ability to convert EGP into USD, means that it remains preferable to continue to hold USD denominated receivables, other than where they can be used to fund ongoing expenditures on expiry of the carry from IPR -- The December redetermination process under the RBL completed with a principal repayment of $12.6m made in December 2023 -- Following that repayment, the remaining amount drawn under the RBL stands at $30.0m (1) (Egyptian revenues are given post government take including corporate taxes.) Corporate Highlights -- $3m share buyback programme substantially completed by year end 2023 -- Final dividend for the 2022 financial year of 1p per share, totalling $5.6m, paid on 12 July 2023 -- Net Zero roadmap published on 6 December 2023 -- Appointment of Dr Bill Higgs as a new independent Non-Executive Director, as announced separately today -- Appointment of Shore Capital Stockbrokers Limited (Shore Capital) as the Company's joint broker with immediate effect 2024 Outlook -- Group working interest production guidance of 5,200 - 6,500 boepd net: o Vietnam 3,900 - 5,000 boepd o Egypt 1,300 - 1,500 bopd -- In Vietnam: o Planning underway for a two-well TGT drilling programme, expected to commence 2H o On Block 125, ongoing discussions with another operator to secure a well drilling slot in connection with their proposed multi-well drilling programme in the region o Parallel discussions with several potential farm-in partners for Block 125 in progress -- In Egypt: o Continuation of modest and measured approach to capital allocation and drilling in El Fayum and NBS, with an eye on the receivables balance o Focus for this year's work programme in El Fayum is low cost recompletions and waterflood o Processing and interpretation of c.130km(2) of 3D seismic data on NBS is underway and expected to be completed in 2H o Development drilling in the NBS SW field planned to start in 2H -- Forecast Group cash capex in the year is expected to be c.$32.2m (c.$27.3m after Egyptian carry by IPR) -- Continuation of share buyback programme, with a further $3m committed as announced on 6 December 2023 -- Interim dividend in relation to the financial year ending 31 December 2023 of 0.33p per share declared on 6 December 2023, amounting to c.$1.8m, to be paid out on 24 January 2024. Final dividend, in line with the Company's policy announced in September 2022, to be paid in July 2024, subject to shareholder approval Ed Story The Company noted with great sadness the death of its founder, Ed Story, in December 2023. Since retiring as CEO in March 2022, Ed had remained active as part of the team dealing with Vietnam and his responsibilities will now pass to Vincent Duignan, the Group Exploration Manager & General Manager South East Asia. Vinny will be supported at Board level by Dr Bill Higgs, whose appointment as Non-Executive Director was announced today. |
Posted at 04/10/2023 16:54 by sharksmouth Alas, same old, same old from Pharos.Egypt - yet more application of lipstick to a demonstrably ugly pig! Vietnam - any exploration hopes are far outweighed by the paucity of strategic planning & forward thinking shown by this board. ESG - it must be said that Pharos are certainly at the "top of their game" on this. If only this "wretched" market would recognise this superb achievement with some share price appreciation, eh? Executive performance - from Jann's reply to the questions about votes against the management, executive costs & the stagnant share price, I discern a sense of foreboding in her defensive answers. Conclusion - The sooner Bradley brings this gravy train to a stop, the better it will be for the owners of this company, including the apathetic somnulents amongst us, with their inherited shares. |
Posted at 25/5/2023 08:14 by ashkv Sell PHAR Buy JSE.... No brainer...Pharos Share Price: 22.6 PHAR Current Share Price vs 52 Week low of 17.75p on 23 Sep 2022: 27.32% PHAR Current Share Price vs 52 Week High of 29.8 on 19 Apr 2022: -24.16% Brent: $78.00 Brent Current Price Performance vs H2 2021 Low of $64.57: 20.80% Market Cap (GBP): £97,420,896 GBPUSD: 1.235 Market Cap (USD): $120,314,807 Net Debt (USD) - 25 May 2023 Update: $29,000,000 Receivables (USD) - 25 May 2023 Update $29,000,000 Enterprise Value (USD) [Market Cap + Debt - Cash]: $149,314,807 PHAR Actual Average Production - FY 2022: 7,962 PHAR Production Mid-Guidance (6,050 - 7,500) FY 2023: 6,775 PHAR Actual Average Production Up To 30 Apr 23: 6,805 EV/BARREL- Actual Average Prod FY 2022: $18,753 EV/BARREL- USD Mid-Guidance FY 2023: $22,039 EV/BARREL- USD Actual Average Production Up To 30 Apr 23: $21,942 Shares Outstanding (24 May 2023): 431,065,912 |
Posted at 21/10/2022 16:44 by cwa1 Pleasantly respectable finish to the week, with a modet uptick in the PHAR share price Time to knock off shortly and look forward to a glass of something nice :-) Enjoy your weekend all |
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