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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
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 22.05 | 258 | 09:21:16 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 21.40 | 23.30 | ||||
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Oil & Gas Field Services,nec | USD 167.9M | USD -48.8M | USD -0.1171 | -1.88 | 91.9M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 11:45:49 | O | 258 | 21.514 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 21/11/2024 | 07:00 | UK RNS | Pharos Energy PLC Transaction in Own Shares |
| 20/11/2024 | 07:00 | UK RNS | Pharos Energy PLC Transaction in Own Shares |
| 15/11/2024 | 07:00 | UK RNS | Pharos Energy PLC Transaction in Own Shares |
| 14/11/2024 | 07:00 | UK RNS | Pharos Energy PLC Transaction in Own Shares |
| 13/11/2024 | 07:00 | UK RNS | Pharos Energy PLC Transaction in Own Shares |
| 12/11/2024 | 07:00 | UK RNS | Pharos Energy PLC Transaction in Own Shares |
| 05/11/2024 | 07:00 | UK RNS | Pharos Energy PLC Transaction in Own Shares |
| 04/11/2024 | 07:00 | UK RNS | Pharos Energy PLC Transaction in Own Shares |
| 01/11/2024 | 07:00 | UK RNS | Pharos Energy PLC Transaction in Own Shares |
| 31/10/2024 | 13:43 | UK RNS | Pharos Energy PLC Total Voting Rights |
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 |
|---|---|---|---|
| 21/11/2024 | 10:56 | Pharos Energy / Soco International | 2,083 |
| 30/10/2024 | 10:46 | Pharos Energy-A New Beginning | 8,402 |
| 22/5/2003 | 23:09 | The Phuture is bright | 1 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 11:45:49 | 21.51 | 258 | 55.51 | O |
| 07:15:34 | 22.50 | 18,584 | 4,181.40 | O |
| 07:15:34 | 22.00 | 50,000 | 11,000.00 | O |
| 2024-11-20 16:27:04 | 22.50 | 10,000 | 2,250.00 | AT |
| 2024-11-20 16:27:04 | 22.50 | 8,584 | 1,931.40 | AT |
| Top Posts |
|---|
Posted at 21/11/2024 08:20 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 22.05p.Pharos Energy currently has 416,763,953 shares in issue. The market capitalisation of Pharos Energy is £91,896,452. Pharos Energy has a price to earnings ratio (PE ratio) of -1.88. This morning PHAR shares opened at - |
Posted at 30/9/2024 06:54 by cwa1 * Pharos Energy Plc PHAR.L: Jefferies raises target price to 24p from 20p |
Posted at 25/9/2024 06:56 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 |
Posted at 18/9/2024 12:22 by stepone68 Might be some hope here! Share price done okay this year. Been a disaster for long term holders though. Hands up for being one of the latter.Yeah me too, but finally sold the last of them at the start of April. You can see from the chart above how well I timed that! Cheers StepOne |
Posted at 18/9/2024 07:34 by cwa1 ...and a snippet from Auctus...Very strong financials. Busy drilling programme in 2H24. Dividend up by 10% • 1H24 production of 5,851 boe/d had been reported previously. • Pharos has re-iterated its FY24 production guidance of 5.2-6.5 mboe/d. The company expects to spend US$26 mm (net) capex in 2024 (US$27 mm previously). • The highlight of this announcement is the strong financials. While the net cash of US$17.5 mm at the end of June is in line with what had been reported previously, the 1H24 operating cashflow had been negatively impacted by an inventory build of ~US$12 mm. This implies that the net cash position adjusted for this inventory build would have been ~US$12 mm above our forecasts. Because the inventory build is mostly associated with Vietnam, it is expected to be reversed in 2H24. • In early 2H24, Pharos repaid all its outstanding bank debt. • The company has declared an interim dividend of 0.363 p per share. This represents an increase of 10% compared to last year. Assuming a similar 10% increase in the final dividend would lead to a dividend yield of almost 5% in 2025. • We reiterate our target price of £0.50 per share. The US$3 mm share buyback programme will provide support to the share price (only US$1.1 mm has been spent in 1H24) |
Posted at 18/9/2024 06:35 by lauders The Board has resolved to pay an interim dividend of 0.363 pence per share, $1.9m equivalent, in respect of the year ended 31 December 2024 and this will be paid on 22 January 2025 to shareholders on the Company's register as at 20 December 2024.Might be some hope here! Share price done okay this year. Been a disaster for long term holders though. Hands up for being one of the latter. |
Posted at 18/9/2024 06:18 by cwa1 PHAR InterimsPharos Energy plc ("Pharos" or the "Company" or, together with its subsidiaries, the "Group") Interim results for the six months ended 30 June 2024 Pharos Energy plc, an independent energy company with assets in Vietnam and Egypt, announces its interim results for the six months ended 30 June 2024. A conference call for analysts will take place at 09.00 BST today. Katherine Roe, Chief Executive Officer, commented: "Since joining as CEO in July, I have found a solid operational business with quality assets delivering stable production and robust cash flows, an impressive team, and a strong financial base. Alongside this, the improving macro environment in Egypt has seen our receivables position improve significantly with over $20m received year to date. This financial strength allows us to announce today the intention to pay an interim dividend of 0.363 pence per share for the current financial year, a continuation of the existing share buyback programme and, importantly, the repayment of all our outstanding debt. We are proud of our Company moving to a net cash position of $17.5m at 30 June and, subsequent to that, is now debt-free. "We have a solid foundation from which to build on and move forward to grow value in both Vietnam and Egypt. We benefit from having assets with catalysts. In Vietnam, actively progressing the license extensions will unlock appraisal potential. In Egypt, our consolidation proposal will provide enhanced fiscal terms to encourage appropriate re-investment. This will all be considered within the framework of a strict and transparent capital allocation policy that is balanced appropriately and with the priority on evaluating opportunities that can deliver the highest return to shareholders. "I want to thank shareholders for their continued support and look forward to updating the market on our upcoming activity." 1H Operational Highlights · Group working interest 1H production was 5,851 boepd net (1H 2023: 6,915 boepd net), in line with full year guidance: o Vietnam 1H production 4,456 boepd (1H 2023: 5,566 boepd) o Egypt 1H production 1,395 bopd (1H 2023: 1,349 bopd) · In Vietnam: o Surface and subsurface optimisation to ensure stable TGT and CNV 1H production o Approval of the TGT Revised Field Development Plan (RFDP) by the Ministry of Industry and Trade (MOIT) o Agreement between Partners and PetroVietnam (PVN) on the terms and work programme commitments for the extension period of the TGT and CNV five-year licence extension applications; which now await formal approval o Progressing the opportunity in Block 125 with long lead items ordered in August 2024 · In Egypt: o Focus on workovers, recompletions, and water injection to bring low-cost barrels to production and build reservoir energy for future drilling o Preparation for exploration and development drilling programmes o Processing and interpretation of the recently acquired 3D Seismic in NBS 1H Financial and Corporate Highlights · Net cash as at 30 June 2024 of $17.5m1,2 (30 June 2023: net debt of $16.4m)1,2 · Group revenue $65.0m3 (1H 2023: $86.2m)3 · Net profit $15.3m (1H 2023: $14.3m net loss), including $12.6m of restructuring expenses, re-measurements and impairments (1H 2023: $(15.2m)) · Cash generated from operations $44.3m3 (1H 2023: $43.4m)3 · Egypt receivables reduced with $14.8m received from EGPC in 1H 2024 and an additional $4m received on 1 July 2024 · Operating cash flow $27.9m4 (1H 2023: $21.3m)4 · Cash operating costs $17.09/bbl1 (1H 2023: $14.14/bbl)1 · Cash balances as at 30 June 2024 of $30.7m (30 June 2023: $35.9m) · Forecast cash capex for the full year is $31m ($26m after Egyptian carry by IPR), of which $6.8m had been incurred by 30 June 2024 · Katherine Roe appointed CEO and Mohamed Sayed promoted to COO effective 1 July 2024 · Commitment to shareholder returns continues with an interim dividend of 0.363 pence per share in respect of the year ended 31 December 2024 and continuation of the current phase of the share buyback programme, with $1.1m of the $3m incurred by the end of June 2024 1 See Non-IFRS measures on page 31 2 Includes RBL and National Bank of Egypt working capital drawdown 3 Stated after realised hedge losses of $0.1m in the period (1H 2023: no realised hedge gains or losses) 4 Operating cash flow = Net cash from operating activities, as set out in the Cash Flow Statement Outlook · 2024 production guidance of 5,200 - 6,500 boepd net remains unchanged: o Vietnam 2024 production guidance 3,900 - 5,000 boepd net; Egypt 2024 production guidance 1,300 - 1,500 bopd net · Vietnam o Two-well TGT infill drilling programme commenced on 26 August 2024 o Awaiting CNV RFDP approval, expected in Q4 2024, enabling further development drilling on CNV to commence in 2025 o TGT and CNV five-year licence extensions well advanced; once signed, this will enable commitment to further investment in both fields o Discussions ongoing with potential farm-in partners and rig contractors required to progress Block 125 · Egypt o Expected completion of the exploration commitment well on El Fayum in 4Q o Processing of c.130km2 of 3D seismic data on NBS underway and expected to complete in 4Q o Discussions ongoing on the consolidation proposal following the initial feedback from EGPC |
Posted at 13/6/2024 19:41 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 16/4/2024 09:27 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 25/5/2023 07:14 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 15:44 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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