Pharos Energy plc

Equities

SIA

GB00B572ZV91

Oil & Gas Exploration and Production

Delayed London S.E. Other stock markets 08:50:12 24/05/2024 BST			5-day change	1st Jan Change
23.7 ^GBX	-1.25%		+4.41%	+11.27%

05-23	Celadon ships to US; Oxford BioDynamics-Goodbody pact	AN
05-03	Pharos Energy plc Announces Retirement of Marianne Daryabegui from the Board of Directors	CI

Vietnam approves two-year production extension for Pharos

June 13, 2023 at 11:56 am

Pharos Energy PLC - London-based oil and gas exploration and production company focused on South East Asia and the Middle East - Receives approval from the Vietnamese government for a two-year extension of phase one of its exploration period for the block 125 and block 126 production sharing contract. Says the extension now runs to November 7, 2025 from November 8, 2023.

Chief Executive Officer Jann Brown says: "This approval shows the encouraging level of support from the government while we progress our discussions with a number of interested parties to secure a farm-in partner before drilling the commitment well on block 125."

Current stock price: 22.35 pence, up 1.6% on Tuesday

12-month change: down 11%

By Greg Rosenvinge, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
BRENT CRUDE OIL SPOT	81.08 USD	-0.48%	-2.83%	-
WTI	76.56 USD	-0.29%	-3.12%	-
PHAROS ENERGY PLC	23.7 GBX	-1.25%	+4.41%	127M

Latest news about Pharos Energy plc

Celadon ships to US; Oxford BioDynamics-Goodbody pact	05-23	AN
Pharos Energy plc Announces Retirement of Marianne Daryabegui from the Board of Directors	05-03	CI
Transcript : Pharos Energy plc, 2023 Earnings Call, Apr 03, 2024	04-03
EARNINGS: Aurora hails AI potential; Technology Minerals optimistic	03-27	AN
Pharos Energy CEO to Retire by April-end	03-27	MT
Earnings Flash (PHAR.L) PHAROS ENERGY Posts FY23 Revenue $167.9M	03-27	MT
Earnings Flash (PHAR.L) PHAROS ENERGY Posts FY23 Loss $-0.11	03-27	MT
Pharos Energy CEO Informs Board Of Her Intention To Retire And Step Down From Board	03-27	RE
Pharos Energy plc Announces Jann Brown Intent to Retire as CRO, Effective 30 April 2024	03-27	CI
Pharos Energy plc Announces Jann Brown Intent to Retire from Board, Effective 30 April 2024	03-27	CI
Tranche Update on Pharos Energy plc's Equity Buyback Plan announced on January 12, 2023.	03-27	CI
Pharos Energy plc Reports Earnings Results for the Full Year Ended December 31, 2023	03-27	CI
James Fisher rises as sells RMSpumptools	03-22	AN
Barclays raises easyJet and Wizz Air	02-02	AN
Pharos Energy says portfolio promises growth and returns in 2024	01-16	AN
Pharos Energy plc Announces Appointment of Bill Higgs as Non-Executive Director	01-16	CI
Jefferies cuts Tullow; Berenberg likes Volex	01-04	AN
Pharos Energy Board Approves Roadmap for Achieving Net Zero Target by 2050	12-06	MT
Pharos Energy shares go down despite continuing buybacks	12-06	AN
Pharos Energy plc Declares Interim Dividend in Relation to the Financial Year Ending 31 December 2023, Payable on 24 January 2024	12-06	CI
Pharos Energy plc announces an Increase in Equity Buyback.	12-05	CI
Pharos Energy rises as oil prices spike	16/10/23	AN
Pharos Energy narrows guidance as revenue and profit go down	13/09/23	AN
On the Beach rises on "record" results	13/09/23	AN
Earnings Flash (PHAR.L) PHAROS ENERGY Reports H1 Revenue $86.2M	13/09/23	MT

Chart Pharos Energy plc

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Company Profile

Pharos Energy PLC is an independent oil and gas exploration and production company. It has production, development and/or exploration interests in Egypt and Vietnam. It operates two concessions across Egypt, including El Fayum and North Beni Suef. The El Fayum concession is located in the Western Desert, about 80 kilometers (km) southwest of Cairo and close to local energy infrastructure. The North Beni Suef is located south of the El Fayum concession in the Western Desert. It has assets in Vietnam, with production at two fields, including Te Giac Trang (TGT) & Ca Ngu Vang (CNV) and the potential for growth from two additional exploration blocks (125 & 126). TGT Field is located in Block 16-1, offshore Vietnam in the shallow water Cuu Long Basin, approximately 100 km from Vung Tau. The CNV Field is located in Block 9-2, offshore Vietnam, in the shallow water Cuu Long Basin. Blocks 125 & 126 are located in moderate to deep waters in the Phu Khanh Basin, northeast of the Cuu Long Basin.

Sector

Oil & Gas Exploration and Production

Calendar

12/06/2024 - Final dividend

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Ratings for Pharos Energy plc

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Investor Rating

ESG Refinitiv

C+

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Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

0.3051 USD

Average target price

0.4848 USD

Spread / Average Target

+58.91%

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