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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
|
|
|---|---|---|---|---|---|
| 0.80 | 4.23% | 19.70 | 983,600 | 16:35:08 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 19.60 | 19.85 | 20.80 | 19.00 | 19.00 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Oil & Gas Field Services,nec | USD 136M | USD 23.6M | USD 0.0569 | 3.44 | 78.45M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 17:10:15 | O | 89,000 | 19.70 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 10/6/2025 | 07:00 | UK RNS | Pharos Energy PLC Blocks 125 & 126 two-year extension approval |
| 28/5/2025 | 07:30 | UK RNS | Pharos Energy PLC Share Purchases by Directors |
| 22/5/2025 | 15:57 | UK RNS | Pharos Energy PLC Results of Annual General Meeting |
| 22/5/2025 | 14:11 | UK RNS | Pharos Energy PLC Directorate Change |
| 15/5/2025 | 09:56 | ALNC |  SMALL-CAP WINNERS & LOSERS: Eurocell expects flat 2025 core profit |
| 15/5/2025 | 07:00 | UK RNS | Pharos Energy PLC 2025 AGM Trading and Operations Update |
| 02/5/2025 | 12:18 | UK RNS | Pharos Energy PLC Holding(s) in Company |
| 30/4/2025 | 16:35 | UK RNS | Pharos Energy PLC Total Voting Rights |
| 29/4/2025 | 07:30 | UK RNS | Pharos Energy PLC Share Purchases by Directors |
| 25/4/2025 | 16:26 | UK RNS | Pharos Energy PLC 2024 Annual Report & Accounts & 2025 Notice of AGM |
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 |
|---|---|---|---|
| 15/6/2025 | 15:48 | Pharos Energy / Soco International | 2,522 |
| 10/6/2025 | 08:10 | Pharos Energy-A New Beginning | 8,702 |
| 23/5/2003 | 00:09 | The Phuture is bright | 1 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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| Top Posts |
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Posted at 15/6/2025 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 18.90p.Pharos Energy currently has 415,056,394 shares in issue. The market capitalisation of Pharos Energy is £81,351,053. Pharos Energy has a price to earnings ratio (PE ratio) of 3.44. This morning PHAR shares opened at 19p |
Posted at 22/5/2025 16:12 by oilinvestoral Well if he was involved in her hiring (or at least consulted), it would be irrational not to at least afford her some time. The vote clearly sheds some light in this regard. Cash seems to be building at 1.5 million per month and with a fairly active second half on all fronts, the share price should improve in H2 if the oil price doesn't tank. Disappointing that they haven't bid for anything as that might be the catalyst in the very short term to get things moving. |
Posted at 15/5/2025 16:02 by cwa1 Auctus Update:-High impact drilling in Vietnam in 4Q25. Lower capex than expected. • Production from January to April 2025 was 5,757 boe/d, comprising 4,216 boe/d from Vietnam and 1,541 bbl/d from Egypt. This is consistent with the FY25 production guidance of 5.0-6.2 mboe/d, which has been reaffirmed. • In Egypt, receivables increased from US$29.5 million at year-end 2024 to US$31.7 mm by the end of April. However, the company has received US$4.9 mm from EGPC over the same period. Pharos held US$22 mm in cash at the end of April, in line with our expectations. • The FY25 capex guidance has been narrowed from US$37–66 mm to US$33-40 mm, with an additional US$17 mm allocated for early 2026. This adjustment reflects lower rig rates, cost reductions at Blocks 125 & 126, and a scaled-down drilling program in Egypt, reducing the planned wells from ten to four. • The key near term newsflow remains the drilling programme in Vietnam. The four well infill development programme (three wells at TGT and one at CNV) could boost Vietnam production by ~20% in 2026 compared to 2025. Additionally, six more development wells and further continuation of production beyond the current license expiry date at TGT could bring 5.5 mmboe of 2C contingent resources into production. • Success at the 18X appraisal well (TGT), could add 1–3 mmboe of reserves in the western area of the field. Meanwhile, the 5X appraisal well at CNV could extend production into the northern part of the field. • Overall, the contingent and prospective resources in Vietnam represents over 100% of the company existing 2P reserves in that country. • As we reduce our oil price assumptions for 2Q25 and 3Q25 from US$75/bbl to US$65/bbl and delay production growth in Egypt by one year from 2026 to 2027, we have changed our target price to £0.45 per share. Valuation Our Core NAV and ReNAV are respectively £0.25 per share and £0.45 per share. The aggregate unrisked value for the Vietnam contingent and prospective resources is £0.31 per share, representing 150% of the current share price. |
Posted at 02/4/2025 08:08 by cwa1 Small snippet from Progressive Research:-2024 final results – well placed for 2025 Pharos Energy released 2024 results on 26 March showing a solid financial and operating performance, materially in line with the trading update released on 23 January. The key message is that, with its cash-generative position augmented by a very strong balance sheet, the company is well placed to build momentum. The new opportunities are likely to manifest themselves through both organic and inorganic growth. We believe that the strong platform, with the potential for material new ventures, has the potential of providing a significant boost to shareholder value. ▪ Financials − solid performance. Pharos reported a 2024 profit of US$23.6m compared to a loss of US$48.8m in the prior year, which were adjusted by impairments and impairment reversals in 2023 and 2024, respectively. The underlying business post-tax profit was reported at US$3.7m in 2024 compared to US$5.0m in 2023. Pharos has a very strong balance sheet with net cash of US$16.5m and remains debt-free. Management is proposing a final dividend of 0.847p/share to give a total full-year dividend 1.21p/share, which represents a 10% annual increase. ▪ Operations − in-line. Pharos delivered operational performance in line with expectations across its businesses in both Vietnam and Egypt. Overall, production for 2024 in total across both countries reached 5,801 boe/day, with guidance for 2025 at 5,000-6,200 boe/day. Please see overleaf for additional detail. |
Posted at 01/4/2025 12:40 by oilinvestoral My average at RSG is around current share price but you are right to highlight the Mali risk. But in the low 20s , I believe it's already in the price. The new mining code has effectively increased their AISC by $250/ OzRe Pharos , I've been scratching my head to come up with something positive to counter the points you raised but I honestly can't think of anything. Even the oil price is looking ropey given the state of world affairs and OPEC considering increasing supplies. Even in the oil sector there are plenty of other producers with significant upside ... |
Posted at 26/3/2025 09:36 by cwa1 Snippet from Shore Capital:-Pharos Energy’s FY24 results statement outlines how the business is positioning itself for medium term growth in both Vietnam and Egypt. FY24A financials are broadly in line with our estimates with the group ending the year debt free and with $16.5m of cash-in-hand. The production outlook for the year ahead is unchanged, but with management now highlighting the potential to flex capital spending upwards to accelerate activity that can boost production in future years. House Stock. FY24A financials. Net production of 5.8kboe/d generated Revenues of $136m, EBITDAX of $86m, Operating Cash Flow of $49m and Free Cash Flow of $25m. The reported EPS of 5.7c/share includes a $20m post-tax impairment reversal. 10% YoY dividend growth. The Board is proposing a final FY24 dividend payment of 0.847p per share, taking the full year dividend to 1.21p. This equates to a 5.6% dividend yield. The payment is subject to shareholder approval at the upcoming AGM. Scope to do more in FY25F. Management has expanded upon the initial $33m capital budget it outlined in January. The new minimum budget of $37m includes long-lead items for future Vietnam infill drilling, but this budget could grow to $66m if this infill drilling is accelerated and the Egyptian consolidated concession agreement is secured early enough to add development wells to the H2 FY25 campaign. These additional investments are not expected to materially impact FY25 net production guidance of 5.0-6.2kboe/d (Shore est. 5.5kboe/d) but would increase the anticipated production uplift in FY26F. Reserves and resources update. Pharos’ year-end net 2P reserves total 21.3mmboe (c.42% in Vietnam). The upwards revision in Vietnam linked to the license extensions secured late last year was offset by a downwards revision on the El Fayum concession in Egypt. Seeking extension on Blocks 125 & 126 in Vietnam. Pharos has applied for a two-year extension to the PSC exploration phase that would provide the company with additional time to secure the farm down it is seeking before drilling a well on Prospect A. This is likely to defer the timing of the high-impact exploration well, but should reassure investors that management is not rushing to proceed without a farm out. Long lead items have been ordered and should arrive in Q2 FY25. Pursuing organic and inorganic growth. The CEO commentary is clear that Pharos’ strong balance sheet can be a platform to pursue acquisition opportunities and references its in-country experience, which suggests to us a focus on its existing geographies. Like other small-cap producers, Pharos is cognisant that it could benefit from greater scale. |
Posted at 21/3/2025 00:46 by oilinvestoral Good interview overall! She comes across very well and a definite upgrade to mumbling Jann! There's no game changing revelations but some very useful insights. I would highly recommend shareholders listen to it. She answered most questions very well although she did struggle with one or two key questions. The interviewers could've been better (interviewers lacked knowledge about the oil and gas space).A few snippets from the interview: Starts of by talking about her background in investment banking / advisory roles before becoming CFO then CEO at Wentworth and more recently becoming PHAR CEO. Provides a very brief introduction into Pharos and where it sits within the E&P lifecycle (steady production while having exploration upside). Mentions company is in a strong position having repaid its debt and have stable production volumes that allow maintaining a stable dividend. This is the first time Pharos has been able to look forward and look to scale up the business. We think there is growth from existing assets but we also need to also look elsewhere. We would like to expand our position in South East Asia while extracting more volume from Egypt in a sensible way. Talks about scale , bigger portfolio of assets and diversifying risk across multiple assets. Talks about the general market conditions/ macro challenges and the difficulties being a small cap oil & gas companies. Dealing with governments & various stakeholders.There are some non-core assets being released by the majors and larger independents who are looking to clean up their portfolios but cash flowing assets are in big demand in the market . The challenge for small & mid caps is having access to capital . Factoring in high cost of capital can erode returns. Talks about ESG threats and opportunities. States that we don't pretend to be something we are not! We are not ashamed of being an oil and gas business. We are helping bring countries out of poverty by providing energy etc. The shares are trading at a large (50%) discount to NAV. Struggled to answer the question about how she would close the discount. Talks about the IR piece and reaching out. She says that in terms of trading at a discount that it has been a theme for a long time and I don't see that closing . I'm not sure I can sit here and say that I can close the gap. Everyone would say the same thing. I don't see how that is feasible with the current lack of appetite for re-investing in the sector. I do think consolidation is an interesting topic in the sector (scale & diversification in the sector). Depressed asset values may create opportunities (possibly inorganic).Classifie |
Posted at 14/3/2025 17:09 by cwa1 Well, the share price has managed to contain its excitement regarding the share price of late, with the price back down to a "lowly" 22p.Not much sign of anything positive going on, though I suppose I could get my rosey hued lenses out and say that perhaps they're going to bombard us with good news at the prelims on 26/3-which is not far away? No, me neither. Anyway, it's the weekend, so have a good one all :-) |
Posted at 20/2/2025 08:58 by cwa1 Auctus update post Egypt news:-MOU with EGPC in Egypt to improve terms and licence duration • Pharos and IPR have signed a non-binding MOU with EGPC to use their best efforts to conclude negotiations for the merger of the El Fayum and North Beni Suef Concession Agreements. • While there is limited information at this stage, this is an important step that would unlock further investment through better fiscal terms and longer licence duration. • The El-Fayum licence has a current expiry date of 2034 (including a 5 year extension), with 9 years remaining. A typical new licence in Egypt has a duration of 20-30 years, including two five-year extensions. • IPR has already signed a third amendment on some of its other licences, which is encouraging regarding negotiations for El Fayum and North Beni Suef. • In return for better terms and a longer licence duration, Pharos and IPR will need to commit to new work programs to boost production and unlock reserves and resources. • While the amount of US$ receivables remains stable, we note that EGPC is regularly paying contractors. • We reiterate our target price of £0.50 per share. The approval of the new FDPs for TGT and CNV in Vietnam would increase our Core NAV by £0.03 per share. Successful appraisal at TGT and CNV would derisk approximately 5 mmboe of resources, with an unrisked value of £0.15 per share. Rating & target Old New Target £0.50 n.c. Yield 4% Implied total return 100% Share data 2023 2024e 2025e Shares dil., mm 429 420 420 Mkt cap, US$mm $129 $134 $129 EV, US$mm $137 $117 $104 Financial Data 2023 2024e 2025e Gas, mmcf/d 4.4 4.4 3.9 Liquids, bbl/d 5,779 5,076 5,170 Total boe/d (6:1) 6,508 5,801 5,823 CFO, US$mm $39 $55 $44 Net capex, US$mm ($7) ($22) ($30) Net debt, US$mm* $8 ($16) ($24) CFPS dil., US$/shr $0.14 $0.13 $0.09 EPS dil., US$/shr ($0.11) $0.03 ($0.02) Valuation 2023 2024e 2025e Share price, £/shr £0.25 £0.25 £0.25 EV/DACF 2.3x 2.1x 2.7x EV per boe/d (US$)$21,007$20,231$ Apols for the formatting, too lazy too fix it ;-) |
Posted at 16/12/2024 13:47 by oilinvestoral New note from progressive: Nothing majorly different from what we already know but very positive. They forecast 47 million in net cash end of 25 which is similar to 50ish million I calculated using my spreadsheet. Their end of 2024 estimate is lower than mines though (that would explain the difference). Pharos Energy released an update on 5 December that highlights a pick-up in activity and a further strengthening in the balance sheet. The group had net cash at the end of November of approximately US$18m, which compares to US$17.5m at the interim stage and comes despite an increase in activity. The group has completed a two-well infill programme on the TGT field and drilled an exploration well in Egypt that encountered oil and will be tested in December. Pharos would appear to be in great shape going into 2025, which looks to be an exciting year for investors. Vietnam. Pharos completed a two-well infill programme on the TGT field, with both wells producing in line with expectations. Production for the year to date has been 4,324 bbl/day, which is in line with 2024 guidance of 3,900-5,000 bbl/day. The approval process for five-year licence extensions on both fields (TGT and CNV) is now in its final stages, which would allow the company to start further investment in the fields. Talks with potential farm-in partners and rig contractors continue on Blocks 125 and 126 in the underexplored Phu Khanh basin. These contains significant prospectivity with mean unrisked resources of 13.3 billion boe. Egypt. The group drilled a second commitment exploration well on the El Fayum PSC and found oil bearing reservoirs, which will tested in December 2024. Pharos has also brought a development well onstream. Working interest production at the end of November was 1,436 boe/day, which compares with an average of 1,395 boe/day in 1H 2024. The 3D seismic acquisition on the North Beni Suef PSC is expected to be completed in Q1 2025, with interpretation and mapping to follow. The consolidation discussions (for its two licences) continue, with EGPC (Egypt General Petroleum Corp) and IPR fully engaged and aligned. ? Finances. Net cash at the end of November was approximately US$18m compared to US$17.5m at the end of June 2024, despite the increase in expenditure, share buyback programme and dividend paid. Pharos continues to benefit from the continued payment of receivables from EGPC. By the end of November, the group had received US$24m (US$14.8m at the end of June). However, the receivables balance outstanding is stable at US$31.1m. Conclusion. With its strong balance sheet, Pharos is ideally placed to increase expenditure on its asset base in 2025, which could add significant shareholder value. |
Posted at 25/9/2024 07:56 by cwa1 In a first for Pharos, they've been descibed as "exciting"!!Progressive Investment Research have issued research this morning entitled: Excitement picking up Excitement picking up Pharos Energy released its interim results on 18 Septemberwith the group reporting net income of US$15.3m compared to a loss of US$14.3m a year earlier. This increase was mainly due to a reversal of impairments.The most impressive feature was that Pharoshas shown a major strengthening of its balance sheet, with the groupmoving to net cash as it benefits from strong cash flow, additional payment of receivables from Egypt and a relatively low level of capex. These factors have combined toallow management to increase returnsto shareholders, as well as moving the business back onto a growth footing. The operational delivery is impressive, and there is clear potential for more. ▪Strong balance sheet–debt free. Pharos Energy has an exceptionally strong balance sheet. The group had net cash at the end of June of US$17.5m (compared to net debt of US$6.6m at the end of 2023) as itwas able to benefit from strong free cash flowand the additional payment of receivables in Egypt.Currently the group is debt free. The balance sheet islikely to tightenmodestly as capital expenditure is ramped up,but this will stimulate growth.The lack of debt gives management more flexibility in its operations. ▪Back to growth. Thefirst half of 2024 was relatively quiet for the group with capital expenditure being a modest US$6.8m. However, activity is being ramped up,with capex for the full year targeted at US$26m (after the Egyptian carry). The cash is being channelled into wells in Vietnam and Egypt,which should help to grow production. In Vietnam, management is working on five-year extensions of licences,leading to targeting additional reserves and production. Pharoshas also started a two well programme onthe TGT field with the ambition to start increasing production. The group continuesto have discussionsover the farm-out of Blocks 125 and126 ahead of drilling in 2025.In Egypt,exploration and development drilling has now commenced. ▪Cash back to shareholders.Pharos, with its strong balance sheet, continues to return cash to shareholders. With the results, Pharosannounced thatitintends to pay a 2024 interim dividend of 0.363p/share,represe |
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