Member Info for jfk9

Reluctant to sell, I live in hope. Certainly won’t be participating when they next pass the hat around!

Drifting downwards in the absence of substantive news. Can se 30’s. looming large. Have we now thrown in the towel on gas storage?

More funds for the ill conceived Egypt venture! Just have to hope it does the trick, can’t help but think reinstating the dividend is still some years off.

These shares are pretty tightly held so I should think that this may well become a rerate not only based on a recognition of value but also shortage of supply, as demand from new investors exceeds the supply made available by existing holders. I for one ain’t selling any of my holding until the sp has risen substantially.

A meteorological event this week may herald another beast as we progress through January, so again highlighting the need for additional gas storage capacity and let’s hope a timely boost to the ML decision.

Agreed, if it gets to .2 before the next cash call I’m out. Will lick my wounds and move on. This will never be big enough to gain traction and is a lifestyle company for a bunch of guys parlaying the oil exploration game and getting paid for it on the back of a bunch of ever optimistic shareholders.

Not surprised more money needed to be raised, but shame it’s before there has been any substantive news. Increases dilution, if they are in such a good position why not fund through borrowing, very attractive rates about for safe and solid investments.

His world beating cycle team also has that name

Despite £1 Billion on the table for carbon capture and major push towards hydrogen development, there is still no movement on the ML. Fine rhetoric, no action.

Perhaps somebody got an early heads up on the radio 4 PM news item, just broadcast. The item reported on a proposal to generate electricity from compressed air, air is pumped under great pressure into storage tanks using off-peak electricity. Under pressure the stored air liquefies and then released to turn turbines when the electricity is required. So perhaps another potential use for the caverns!

Agree with you on this. Start paying a dividend which will send a clear message to government. However I fear Trin will do nothing and the cash pile will eventually dwindle or be swept up by a new tax

Trin must respond, start by paying a 1p dividend and a send a clear message to the tin pot regime that mew investment will not be forthcoming and the strategy will be to deplete existing wells and RETIRN PROFIT TO SHAREHOLDERS. Come on Bruce wake up to reality.

Perhaps checking out facilities for the government's latest half baked plan is to convert ferries to house asylum seekers!

My ...... how times have changed!
Not so long ago yesterday's news of conflict between Azerbaijan and Armenia threatening gas and oil pipelines to Europe would have been the catalyst for a raft of posts highlighting the pressing need for gas storage.

Good to see it rocketing ………….unfortunately 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.

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.

So continues the cycle, ready for the next fund raise and further dilution.

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.

Half a penny divi paid in two installments would be very affordable at a cost of £2m. It would provide a yield of 7%, show a commitment to delivering shareholder value, encourage retention of share holdings and preserve sufficient funds to grow the Business. To me it’s a no brainer.