Pharos Energy (PHAR) has announced a discovery it considers reconfirms the potential for additional oil on the El Fayum concession, Egypt, and that it is about to commence development drilling in the Cuu Long Basin and 3D seismic acquisition in the Phu Khanh Basin, offshore Vietnam. Having helped the shares up to 25.6p, what now?...
Pharos Energy (PHAR) has made an update on its operations in Egypt and Vietnam which the market likes – the shares are higher at above 25p. So what’s the news?...
A month or so back I covered an oil company called Pharos Energy (PHAR) as a strong buy and gave my opinion that it was undervalued, and the update today reinforces that view even more.
Pharos Energy (PHAR) has been one of the worst stocks that I’ve been invested in – not necessarily in terms of the share price performance, although that has also been awful, but more the way the company has been managed and the amount of money that I’ve seen them waste over the years.
Looking at the chart for Pharos Energy (PHAR) I wouldn’t blame you for coming to the conclusion that it is best avoided as it has been on a steady downwards trajectory for several years and with little sign of any relief.
Search ShareProphets |
Recent Comments |