RNS Number : 5854C
Pharos Energy PLC
28 March 2025
Pharos Energy plc
("Pharos" or the "Company" or, together with its subsidiaries, the "Group")
DIRECTORS/PDMR SHAREHOLDINGS
Share Purchases by Directors
The Company was notified on 27 March 2025 that, on the same day, Katherine Roe, the Chief Executive Officer and Sue Rivett, the Chief Financial Officer, purchased Pharos Energy plc ordinary shares of £0.05 each ("Shares") at a purchase price of £0.23684 per Share. The Shares were purchased on the open market pursuant to trading plans entered into by the Directors on 26 September 2024 and 19 April 2022 respectively.
Director
Number of Shares purchased
Total number of Shares held following purchase
% of Company's Issued Capital (excluding treasury shares)
Katherine Roe, Chief Executive Officer
6,218
42,930
0.010%
Sue Rivett, Chief Financial Officer
4, 118
1,154,108
0.279%
For further information, please contact:
Pharos Energy plc Tel: 0207 603 1515
Tony Hunter, Company Secretary
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.
1
Details of the person discharging managerial responsibilities
a)
Name
KATHERINE ROE
2
Reason for the notification
a)
Position/status
Chief Executive Officer
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
PHAROS ENERGY PLC
b)
LEI
549300DDKLXYLLO4N524
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument Identification code
ORDINARY SHARES OF £0.05 EACH GB00B572ZV91
b)
Nature of the transaction
Acquisition of Shares
c)
Price(s) and volume(s)
Price(s)
Volume(s)
£0.23684
6,218
d)
Aggregated information - Aggregated volume - Price
6,218 £1,472.67
e)
Date of the transaction
27/03/25
f)
Place of the transaction
X-LON
1
Details of the person discharging managerial responsibilities
a)
Name
SUE RIVETT
2
Reason for the notification
a)
Position/status
Chief Financial Officer
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
PHAROS ENERGY PLC
b)
LEI
549300DDKLXYLLO4N524
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument Identification code
ORDINARY SHARES OF £0.05 EACH GB00B572ZV91
b)
Nature of the transaction
Acquisition of Shares
c)
Price(s) and volume(s)
Price(s)
Volume(s)
£0.23684
4,118
d)
Aggregated information - Aggregated volume - Price
4,118 £975.31
e)
Date of the transaction
27/03/25
f)
Place of the transaction
X-LON
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