REG - Pharos Energy PLC - Block Listing Monthly Return

Pharos EnergyAnnouncement

20/03/2025 10:30

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RNS Number : 3722B  Pharos Energy PLC  20 March 2025

 

Pharos Energy plc

("Pharos" or the "Company" or, together with its subsidiaries, the "Group")

 

Block Listing Six Monthly Return

 

Pharos Energy plc, as required by the rules of the Financial Conduct
Authority, notifies the following routine information regarding the Company's
existing block listing arrangements in connection with its employee share
scheme and the awards granted under this in the past:

 

 Name of applicant:                                                                Pharos Energy plc
 Name of scheme:                                                                   2011 Long-Term Incentive Plan
 Period of return:                        From:                                    20 September 2024  To:           20 March 2025
 Balance of unallotted securities under scheme(s) from previous return:            704,015 ordinary shares of £0.05
 Plus:  The amount by which the block scheme(s) has been increased since the       -
 date of the last return (if any increase has been applied for):
 Less:  Number of securities issued/allotted under scheme(s) during period
 (see UKLR20.6.7G):

                                                                                   -
 Equals:  Balance under scheme(s) not yet issued/allotted at end of period:        704,015 ordinary shares of £0.05

 

 

 Name of applicant:                                                                Pharos Energy plc
 Name of scheme:                                                                   Pharos Energy plc Long-Term Incentive Plan
 Period of return:                        From:                                    20 September 2024  To:              20 March 2025
 Balance of unallotted securities under scheme(s) from previous return:            6,150,000 ordinary shares of £0.05
 Plus:  The amount by which the block scheme(s) has been increased since the       -
 date of the last return (if any increase has been applied for):
 Less:  Number of securities issued/allotted under scheme(s) during period
 (see UKLR20.6.7G):

                                                                                   2,085,833
 Equals:  Balance under scheme(s) not yet issued/allotted at end of period:        4,064,167 ordinary shares of £0.05

For further information, please contact:

Pharos Energy plc
 
Tel: 0207 603 1515

Tony Hunter, Company Secretary

 

Camarco
 
Tel: 020 3757 4980

Billy Clegg |Georgia Edmonds |Violet Wilson| Tamsin Howard

Notes to editors

Pharos Energy plc is an independent energy company with a focus on sustainable
growth and returns to stakeholders, which is listed on the London Stock
Exchange. Pharos has production, development and/or exploration interests in
Egypt and Vietnam. In Egypt, Pharos holds a 45% working interest share in the
El Fayum Concession in the Western Desert, with IPR Lake Qarun, part of the
international integrated energy business IPR Energy Group, holding the
remaining 55% working interest. The El Fayum Concession produces oil from 10
fields and is located 80 km southwest of Cairo. It is operated by Petrosilah,
a 50/50 joint stock company between the contractor parties (being IPR Lake
Qarun and Pharos) and the Egyptian General Petroleum Corporation (EGPC).
Pharos also holds a 45% working interest share in the North Beni Suef (NBS)
Concession in Egypt, which is located immediately south of the El Fayum
Concession. The first development lease on the NBS Concession was awarded in
September 2023 and production started in December 2023. IPR Lake Qarun
operates and holds the remaining 55% working interest in the NBS Concession.
In Vietnam, Pharos currently has a 30.5% working interest in Block 16-1 which
contains 97% of the Te Giac Trang (TGT) field and is operated by the Hoang
Long Joint Operating Company. Pharos' unitised interest in the TGT field is
29.7%. Pharos also currently has a 25% working interest in the Ca Ngu Vang
(CNV) field located in Block 9-2, which is operated by the Hoan Vu Joint
Operating Company. Following the announcement by Pharos in December 2024 of
approval a five year extension to the terms of the petroleum contracts for
Blocks 16-1 and 9-2, together with associated changes to fiscal terms and
participating interests, Pharos will hold a revised working interest in Block
16-1 (TGT) of 25.33% with effect from 8 December 2026 and a revised working
interest in Block 9-2 (CNV) of 20% with effect from 16 December 2027. Blocks
16-1 and 9-2 are located in the shallow water Cuu Long Basin, offshore
southern Vietnam. Pharos also holds a 70% interest in, and is designated
operator of, Blocks 125 & 126, located in the moderate to deep water Phu
Khanh Basin, north east of the Cuu Long Basin, offshore central Vietnam.

 

 

 

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