Market's view on Pharos Energy
Published on April 2024
- A stock watcher highlighted that Jann’s possible announcement about securing a rig could be her most significant achievement.
- Another stock watcher mentioned having to cash out shares due to a transfer of their SIPP, noting a subsequent increase in share price.
- Insight into Pharos Energy’s FY23 results was discussed, indicating a net loss after tax due to a non-cash impairment, although the company had a strong balance sheet with reduced net debt and significant cash balances.
- Concerns were raised about the challenges of M&A in Egypt, with a particular mention of a past costly experience.
- The potential for upcoming operational developments in Vietnam and Egypt was noted, including exploration and drilling plans.
- Discussions about the reliability of payments from Egyptian state companies were mentioned, with skepticism about future financial dealings.
- Comments on an investor meeting reflected disappointment with the responses given, describing them as evasive.
- A mention was made of the Pharos AGM and whether any stock watchers were attending it.