Pharos Energy Plc

-0.40 (-1.79%)
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 -1.79% 22.00 166,323 16:35:19
Bid Price Offer Price High Price Low Price Open Price
22.00 22.10 22.40 21.60 22.40
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Field Services,nec 199.10 24.40 - - 95.19
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:19 UT 4,323 22.00 GBX

Pharos Energy (PHAR) Latest News (1)

Pharos Energy (PHAR) Discussions and Chat

Pharos Energy Forums and Chat

Date Time Title Posts
06/6/202322:37Pharos Energy-A New Beginning8,160
01/6/202300:49Pharos Energy / Soco International 1,854
23/5/200300:09The Phuture is bright1

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Pharos Energy (PHAR) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-06-08 15:35:1922.004,323951.06UT
2023-06-08 15:20:2922.0613,5752,994.94O
2023-06-08 15:20:2822.104,475988.93O
2023-06-08 15:20:2722.108,0001,768.00AT
2023-06-08 15:20:2722.207,8651,746.03AT

Pharos Energy (PHAR) Top Chat Posts

Top Posts
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 23/5/2023 14:03 by biotechbull
Why hasn't Pharos announced this? Sure it's only one well, but it's their first in NBS so bodes well, and if the well stabilises at the number below that's 470 bbl/day (at 100%, PHAR only owns 45%) which is a big deal vs. the 3,000 bbl/day at midpoint of 2023 guidance for Egypt.

At say $20 profit per bbl, it's worth c. $3.5m/yr to the JV or $1.2m/yr to PHAR.

"IPR Energy Group discovered oil in its 5,060 sq km North Beni Suef (NBS) exploration concession in Egypt.

The first exploration well, NBS-1X, was drilled to a depth of 8,185 ft MD after a successful drilling campaign with a 1,500 hp rig. The well encountered multiple pay zones in the Abu Roash G formation with test rates as high as 1,120 bo/d pre-frac and 28.5°API oil, the company said.

The well stabilized at 470 bo/d on ½-in. choke, with less than 0.5% basic sediment and water. The well is under close monitoring and will continue to be evaluated for early production facility (EPF) sizing and fast-tracking for supply to the local market.

IPR is also conducting a 3D seismic program in NBS which is expected to add to an inventory of prospects to deliver a second exploration well in third-quarter 2023 through enhanced subsurface imaging."

Posted at 25/3/2023 10:24 by oilinvestoral
"I am now definitely of the opinion that this company is just going to be milked of its final asset, and the shareholders will be left with nothing"-------------Rich alert That may be true but if you do a discounted FCF analysis on how much cash can be generated can be generated by this "milking" process before the licenses expire, it's still significantly more than the current share price. Assuming oil price doesn't crash and assuming they can maintain a LT Vietnam average production of $6,000-7000 BOPD. I have mentally written off Egypt many moons ago but even that , has got to be worth $20-30m (I know it's a far cry from the near quarter of a billion we paid for it but that another story). But even at $30m, it's worth 5p per share! The explo assets on block 125 are valued at zilch and once we have a farm out partner we may be able to assign some pennies to that asset as well. Like I have said many times previously in discussions with another poster, this is a play on oil price and the FCF generation of the Vietnam assets... It's worth much more than 22p, despite what could arguably be seen as the worst management team among London listed oilies!
Posted at 24/3/2023 11:13 by ashkv
For a firm with a market cap of GBP 97 million, share price down 20% over 12 months and 78% over five years - with nothing delivered in the past year... firm on auto-pilot or WORSE... pigs at the trough...

Per Pharos 2021 Annual Report Jann Brown Salary

J Brown Total Salary $1,145,000
Fixed $453,692
Variable $692,000


Compare this to I3E which has actually delivered - Majid Shafiq Total GBP1,074,000
Or even Paul Baay at TXP US$816,662 who while recently being subpar has had a good few year prior with TXP!!!

Posted at 22/3/2023 07:15 by cwa1
2022 Prelims announced:-

Jann Brown, Chief Executive Officer, commented:

" 2022 was a year of significant change for Pharos. Amidst the macroeconomic challenges and ongoing volatility specifically in Egypt, we delivered crucial milestones that have allowed us to rebuild resilience in the balance sheet, helping us to deliver on our strategy of creating long term, sustainable value for our shareholders via both regular cash returns and organic growth. Pharos is in a much stronger position with the 2023 work programme underway and a focus on sustainable cash generation with capital discipline to deliver returns to our stakeholders.

I would like to thank our global colleagues, investors, government and JV/JOC partners for their continued support and I look forward to updating stakeholders as Pharos works towards a new phase of growth in 2023."

2022 Corporate Highlights

· Enhanced fiscal terms secured in Egypt through the signature of the Third Amendment to the El Fayum Concession in January 2022, increasing Contractor's share of revenue from c.42% to c.50%

· Completion of farm-out transaction and transfer of operatorship of Egyptian assets to IPR in March 2022, delivering a carry of the Group's remaining 45% interest, expected to continue into Q3 2023

· Completion of $3m share buyback programme announced in July 2022, with a further $3m committed for 2023

· Announcement of policy for annual dividend, based on Operating Cash Flow

· Reshaping of Board structure and composition from 9 to 6 Directors with Jann Brown appointed as Chief Executive Officer in March 2022

· Commitment to achieve Net Zero GHG emissions from all our assets by no later than 2050 announced in September 2022

· Establishment of an Emissions Management Fund, under which we will set aside $0.25 for each barrel sold at an oil price above $75/bbl from 2023 to support emissions management projects

2022 Operational Highlights

· Total Group working interest 2022 production 7,166 boepd net 1 (2021: 8,878 boepd net, 7,533 boepd net on a comparative basis1), in line with production guidance;:

- Vietnam production 5,418 boepd net (2021: 5,560 boepd net)

- Egypt production 1,748 bopd 1 net (2021: 3,318 bopd; 1,973 bopd on a comparative basis1)

· In Vietnam:

- D rilling programme for two TGT development wells completed in H2 2022, on time and under budget

- Drilling of one CNV well started in H2 2022 and completed in Q1 2023, on time and under budget

- Additional interpretation work on the 3D Seismic in Block 125 is continuing and showing promising results with a number of Prospects identified

· In Egypt:

- Commencement of the main El Fayum multi-year and multi-well development programme in Q2 2022 after farm-down

- Seven wells put on production in 2022, plus one additional well drilled in Q4 2022

- Rig on a long-term contract secured in July 2022, providing a stable platform for a continuous drilling campaign

- Request for a short extension on North Beni Suef (NBS) granted in Q4 2022

- Drilling commenced on the first of two NBS commitment exploration wells in parallel with acquisition of additional 3D seismic

2022 Financial Highlights

· Group revenue of $221.6m 2 3 (2021: $163.8m 2 3 )

· Cash generated from operations $110.7m (2021: $51.5m)

· Operating cash flow $53.4m 6 (2021: $10.8m)

· Cash operating costs of $16.36/bbl 4 (2021: $16.05/bbl 4 )

· Cash balances as at 31 December 2022 of $45.3m (2021: $27.1m)

· Net Debt as at 31 December 2022 of $28.9m 4,5 (2021: $57.5m 4,5 )

· Profit for the year of $24.4m (2021: loss $4.7m)

· Net Debt to EBITDAX of 0.23x 4 (2021: 1.00x 4 )

2023 Highlights and Outlook

· Continuation of share buyback programme announced in January, with a further $3m committed for 2023 so far

· Dividend payment of 1p per share to be proposed for approval at 2023 AGM

· Net Zero roadmap to be published in H2 2023

· Forecast cash capex for 2023 c.$38m (c.$23m after Egyptian carry by IPR)

· Group working interest 2023 production guidance 6,050 - 7,500 boepd net:

- Vietnam 2023 production guidance 4,700 - 5,700 boepd net

- Egypt 2023 production guidance 1,350 - 1,800 bopd net (equivalent to gross production of 3,000 - 4,000 bopd)

· In Vietnam

- Work on submitting Revised Field Development Plans (RFDPs) for two wells on TGT and one on CNV is progressing, with all wells remaining in contingent budget until approval

- Application for extensions to TGT & CNV licences submitted to partners for approval

- Application for extension to Blocks 125 & 126 licence submitted in December 2022, as no suitable rigs were available for drilling in 2023, and is now with the Prime Minister's office for approval

- Discussions ongoing with a number of interested parties to secure a farm-in partner before drilling the commitment well on Block 125

· In Egypt

- Multi-well development drilling in El Fayum continues in 2023, with nine wells planned for the year

- Two commitment exploration wells expected to be drilled in the El Fayum Concession

- Drilling of first commitment exploration well on NBS underway, with the additional commitment exploration well to follow later in the year. An additional extension of the exploration period until September 2023 was granted by EGPC in March 2023

- Acquisition of the c.110 km2 of additional 3D seismic at NBS has started

Posted at 16/1/2023 10:03 by oilinvestoral
"The timing of the issuance of shares at 19.25p wasn't the same as the buyback - time matters in the context of company performance and position"-----------Exactly ! Good companies buy shares from the market when the share price is low/ undervalued and sell into the market when the share price is high / overvalued! Bad companies do the opposite :)))))
Posted at 13/1/2023 17:17 by dunderheed
8005 was his question not rhetorical?
In the same way how can you be sure it has been helped the share price then?
What evidence do you have that the share price has not been supported or increased as a result of the market solely revaluing the "fundamentals" of the physical asset valuation?

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

Posted at 15/9/2022 14:01 by ashkv
Hurricane Energy - I was up 100% plus on my 30p buy... And sold out at a 90% haircut as I wanted out - since I sold out the share price has trebled...

Now I dabble in and out of Hurricane Energy - companies have unfortunate events transpire - Soco investors have done very well with their dividends... Present Pharos / Soco will unlikely not make you the money back - but their are other high potential firms that are worth considering..... For me I hope Pharos to be a low Beta share...

Very very few managements are class managements - most unfortunately are grifters learning on the job...

Current Pharos leadership might have been among the top management but not the Captain of the ship at legacy Soc. For me at this point with current assets PHAR is a Buy..

For fellow PHAR investors who are underwater if you have conviction in assets you should average down in increments else sell out - dwelling on the past incessantly will not help in any way more when no incremental insight is provided just the same old diatribe...

I bought SAVE in the low 30s and ended up with a 50% profit on my sale of 60% holding at 40p - as I had averaged down when it was in the teens... markets are fickle... buy the assets / potential not what the market presently views the same as - Dividends and Buybacks certainly do help provide some manner of floor for shares that are engaging in the same..

At present I like PHAR management as they are returning cash to investors and are putting their own money behind the firm with regular decent director buys given modest CEO/CFO compensation.. Concerned about the Egyptian fiscal situation - and it might be a deal breaker for me if it doesn't alleviate...

Posted at 15/9/2022 11:44 by dunderheed
For crying out loud Nige 7779, people don't have to be a holder (me as an example) to post on here?!!?
There are many many holders on here - underwater - who also may have been influenced by EE posts as well to buy and or hold on - which I totally agree is their faults - but whilst talking about genius portrayals and their potential respective influence - who are heavily heavily underwater - due to the PHAR management (supposedly in the same "category" or perhaps better (really lol) as JSE management).

Do you really see it as genius to compare the increases in share price over this year from multi year - nearly all time historical lows - due to the PHAR "management" teams own idiotic strategic acquisitions and that of JSE compared to it's current "deflated" share price to listing price - seriously!!!
You cannot be that obtuse surely?!

As always all IMHO and DYOR.

please reply to what I see as fair points and observations - as I am genuinely interested - without the word drivel of course!!

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