Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Good news.
PHAR can now crack on with building on the 15k production base.
Not good reading , glad i sold at 18p .
Makes interesting reading
https://www.petroleum-economist.com/articles/upstream/exploration-production/2020/pharos-main-man-goes-back-to-the-east-med-future
Sideways over past few days actually
Good to see it rocketing ………….unfortunately down
May I be so bold as to suggest Lombard have currently placed an order .makes sense they bought in june
I've been in and out of pharos a number of times now .last time the share price was being manipulated .a few days later institutional buyer was revealed .once the buy order has been filled this will rocket
oil is backing 50. which idiot buy and sell 4 shares to manipulate share price. should report and be investigated.
What kind of idiots are selling out on a good news day
Excellent news. Now we see why the mms were trying to force the share price down
I have been invested here for a good many years and for the most part done well out of Soco, a company that paid a decent dividend, retained cash in the bank and had a very good business in Vietnam. The disastrous venture into Egypt has sucked up all the cash and leave the business in peril.
There are other oil companies out there well-managed and doing very well despite the oil price plunge. My biggest oil investment Trinity Exploration is a case in point.
I agree that in 18 months or so oil prices may well recover as supply drops, the question is whether Pharos can survive until them, as cash will run out well before.
Why did you think that was?
They were over brought and full of optimism.
Just be patient . I think people forget the difference between a trader and investor.
Sub 20p will be a bargain in 5 years time. You will never get the timing right for the bottom.
Huge deficit in oil coming in 2022/2023 . From huge capex cuts from 2016 crash and now COVID.
Love your optimism on when the oil price goes up this share price will rise. It barely moved from when oil was $20 dollars a barrel
Jesus
Do you just post the same message over and over again.
I think you should not even invest. Share prices go up and down. This is a oil play stock. So when Brent hits $50 you will see the price go up.
This is a low debt company. Please let me know what other low debt oil companies there are. Tullow and PMO are both over 30% down from June.
The slump to 10p seems to be taking a little longer than I expected. What a lesson in destruction of shareholder value, the clowns managing this business are grand masters.
If you look at the cash they have in bank it has been comping down fast over the last few years they now only have 2 million left from almost 200million and 20% more share they are losing so much cash in Egypt it’s crazy they said they would be producing 15 k barrels by now + the 6k from Vietnam but they have had no extra oil from Egypt but are spending millions and there cash is almost finished
Invested today and may take that approach but technicals suggest mid to high 20's imo. Not wanting to be ageist but slight concern is succession planning at board level or is this typical for this sector ? (which has not been my focus)...Thanks. DYOR
Been trading in and out from the 14p to 19p range and I reckon it’s worth another go!
Surely we will get a good rise this week.... back up to 18/19p hopely.... we're due it on the solid basis of this company... imo
Calm down
Make that comment in 2-3 years. Just because it’s dropped so has PMO, TLW etc
I have faith.
Incompetent management have absolutely destroyed a cash cow high income business. Will be lucky to survive and sp will shortly be under 10p. Utterly shambles.
Plumbus.... thank you for that information ....
Reserve Based Lending (RBL)
A type of asset-based lending (ABL) commonly used in the oil and gas sector, reserve based loans are made against, and secured by, an oil and gas field or a portfolio of undeveloped or developed and producing oil and gas assets. The amount of the loan facility available to the borrower is based on the value of the borrower's oil and gas reserves, as adjusted from time to time. The loan facility is repaid using the proceeds from sales in the field or portfolio.
Forgive my lack of knowledge but is RBL anyone ?