RE: I'm amazed Brent is now $37.35!. Bought some PHAR this1 Jun 2020 23:37
Emerald be careful in phar they had 160 mil in the bank last year now they have 12 mil and there shares have been diluted 20%.There Egyptian assets are just a money sink hole making the company loss making at $50 oil what chance will they have now
Cost of buying is only £3.99 and stamp duty not a massive barrier to stop you jumping in and out of a share and you could be a long term holder and trade a percentage of your holding which will bring your average down
Bit of a strange argument as if you had any thought they might cancel the div then surely the sensible option would be sell your shares wait until it is paid then bye your shares back you would still get your div payment and would have no risk but the cost of the sale
Thx for reply as I worked it out I should have got 30 extra share my commission is only 3.99 which only leaves exchanges but the fact I don’t really understand the why I think I will find a different share
I sold OGZD Gazprom yeasterday for $5.48 the price dropped 19 c to $5.31 today so I try to buy with the cash I got from sale and I get offered exactly the same amount of shares as I sold I was expecting extra shares can anyone explain pleases
My point exactly we all have had good times and bad and the next generations will have the same albeit different worries so say the young have it easy now is just it’s hard to remember the good times but the hard times stick in the mind
RetiredCopper There is 2 sides to every point yes the 80s were hard and the dole was really bad but you could buy a house with a garden which is much harder now.then you had the good years up till the financial crisis which was over spending that the young will have to pay for and as they get older they will be lucky to get a pension before they are 80 as it is the next generation that pays for the current pension and the generations are getting older and the young who pay for the are getting less
Pharos has spent around $300 million on purchase assets and maintaining Egypt production and they are getting 5500 barrels a day as payment with no sign of the increase in production to 15000 barrels by 2023 and more likely a drop this year with cut backs to spending .Before Egypt they had 160 million in the bank no debt and good cash coming in from Vietnam that paid a good dividend now there is about 12 million in cash 20% share dilution and no dividend well done the board have lots of shares so the shareholders get diluted again.