REG - Pharos Energy PLC - Receivable payment from EGPC

Pharos EnergyAnnouncement

31/12/2025 12:30

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RNS Number : 3446N  Pharos Energy PLC  31 December 2025

Pharos Energy plc

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

Receivable payment from EGPC

Pharos Energy plc, an independent energy company with assets in Vietnam and
Egypt, is pleased to announce that it has received today $20 million from the
Egyptian General Petroleum Corporation (EGPC) against its outstanding
receivable balance in Egypt.

 

 

Katherine Roe, Chief Executive Officer, commented:

 

"We are pleased to announce that we have received a $20 million payment from
EGPC, reducing our outstanding receivable balance to $7.4m, inclusive of
estimated revenues to December 2025. This is our lowest receivable balance
since December 2021. This very welcome progress towards recovery of our
receivables, together with the improved fiscal terms from our consolidated
Concession Agreement approved by EGPC in September, will allow us to benefit
from the attractive investment framework across our Egyptian assets and
further unlock long-term value for all stakeholders.

 

"I would like to thank EGPC and the Egyptian authorities for their positive
engagement and continued support. We look forward to starting our drilling
campaign in cooperation with our partner IPR and to increasing production from
our assets, in line with the target of the Egyptian Ministry of Petroleum
& Mineral Resources."

 

 

 

 

 

Enquiries

 

Pharos Energy plc
 
                                    Tel: 020 7747 2000

Katherine Roe, Chief Executive Officer

Sue Rivett, Chief Financial Officer

 

Camarco
 
Tel: 020 3757 4980

Billy Clegg | Georgia Edmonds | Violet Wilson | Tamsin Howard

 

Notes to editors

Pharos Energy plc is an independent energy company focused on delivering
sustainable growth and returns to stakeholders, with a portfolio of stable
production, development and exploration assets in Vietnam and Egypt. Led by an
experienced team, Pharos is a cash generative business with a robust balance
sheet and an established platform to deliver both organic growth and inorganic
opportunities.

Pharos is listed on the Main Market of the London Stock Exchange. For further
information please visit www.pharos.energy (http://www.pharos.energy) .

 

 

 

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