Pharos Energy plc
PHAR.L
London Stock Exchange25.00
GBp
+0.40
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Pharos Energy plc
PHAR.L
(London Stock Exchange)
Recent
price
25.00
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Pharos Energy plc is an independent oil and gas exploration and production company headquartered in London, United Kingdom, founded in 1997. The company operates primarily in Vietnam and Egypt, where it holds a portfolio of production, development, and exploration assets. Key assets include interests in the Te Giac Trang (TGT) and Ca Ngu Vang (CNV) oil fields in Vietnam, as well as a 45% working interest in the El Fayum Concession and the North Beni Suef (NBS) Concession in Egypt. Pharos Energy focuses on upstream hydrocarbon activities, encompassing oil and gas production, exploration, and development projects, targeting sustainable growth and cash flow generation. Pharos Energy's main products and services include oil and gas exploration, production from producing fields, development of exploration blocks, and associated reservoir management. In Vietnam, the company’s production centers on the CNV and TGT fields with recent five-year license extensions increasing reserves by approximately 10%. In Egypt, production is derived from the El Fayum concession, comprising multiple oil fields, and exploration continues in the NBS concession adjacent to El Fayum. The company also engages in seismic data acquisition and processing, appraisal drilling, and reserve growth initiatives in both regions. Recent major company developments include repayment of all outstanding debt by September 2024, resulting in a transformed, debt-free balance sheet that supports active drilling and development programs. Pharos extended licenses for its Vietnamese assets, unlocking growth potential with increased reserves and refining its development strategy with plans for infill drilling and exploration. In Egypt, it signed a memorandum of understanding with the Egyptian General Petroleum Corporation (EGPC) in early 2025 to advance concession consolidation and development plans, progressing exploration and appraisal activities such as the El Fayum two-well drilling program. The company also pursued a two-year exploration phase extension for Blocks 125 and 126 in Vietnam and continued efforts to secure a farm-out partner for these blocks. Pharos Energy targets middle-market upstream investors with a focus on Asia and the Middle East and North Africa (MENA) regions, leveraging low breakeven production and disciplined capital allocation to deliver shareholder returns. As of 2024-2025, it reports approximately 5,800 barrels of oil equivalent per day production, with a revenue around $134 million and a workforce of about 36 employees, emphasizing operational efficiency and sustainable growth. Pharos Energy plc combines a stable production base with a development-focused growth strategy supported by recent financial and operational milestones, positioning itself as a growth-driven, debt-free independent energy company with a strategic footprint in Vietnam and Egypt.