Whilst I’m generally wary of investing in small oil and gas companies, occasionally one comes along that appears to be in the right place, at the right time, and with the right assets and management team.

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.

Over the last few years I have watched passively as 88Energy (88E) has tried to exploit what it perceives as great oil opportunities at Icewine and has been happy to bandy about some very large resource numbers, only equalled by the number of bulletin board posts on the matter and the number of words in the torrent of RNS irrelevance. A new farmout deal to Premier Oil (PMO) looks to me like the first real sign that 88Energy actually may have a chance of delivering something of value. But....

There are times when a share continues to defy gravity for far longer than most people would expect, and that certainly looks to be the case with Mongolian oil explorer Petro Matad (MATD).

It was great to see Hurricane Energy (HUR) announcing the completion of another successful well at its Lancaster field, as it has been a company that I’ve been a fan of for sometime.

It’s time to shine a light on the Irish two bombed out stocks this weekend. In these uncertain times it’s safer looking at exceptionally undervalued companies with the oil price now at seasonal lows than at toppy ones beloved by the Bulletin Boards. I will start with Providence Resources (PVR).