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Pharos Energy ( (GB:PHAR) ) has issued an update.
Pharos Energy plc reported a strong operational performance for 2024, with stable production and successful drilling activities in Vietnam and Egypt. The company secured five-year licence extensions for its Vietnamese fields, enhancing reserves and supporting future investment. Pharos remains debt-free, focusing on growth and shareholder returns, and plans further drilling in both regions for 2025. Financially, the company achieved revenue of approximately $134 million, with a robust dividend policy and share buyback program benefiting stakeholders. The 2025 outlook includes production guidance of 5,000-6,200 boepd and a continued focus on emission reduction and investment in exploration.
More about Pharos Energy
Pharos Energy plc is an independent energy company focused on sustainable growth, with assets in Egypt and Vietnam. The company operates within the energy industry, primarily involved in the production, development, and exploration of oil and gas. Pharos is listed on the London Stock Exchange and maintains significant interests in key concessions in both Egypt and Vietnam, partnering with other energy entities to maximize resource extraction and development.
YTD Price Performance: 9.00%
Average Trading Volume: 6,600
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $134.2M
See more data about PHAR stock on TipRanks’ Stock Analysis page.
