Block Listing Application

RNS Number : 6899A

Pharos Energy PLC

26 September 2022

 

26 September 2022

Pharos Energy plc

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

Block Listing Application

Pharos Energy plc announces that an application has been made to the Financial Conduct Authority ("FCA") and to the London Stock Exchange for a block listing totalling 6,200,000 ordinary shares of £0.05 each in the Company (the "Block Listing Shares") to be admitted to the premium listing segment of the Official List of the FCA and to trading on the London Stock Exchange's main market for listed securities ("Block Listing Admission").

The Block Listing Shares will rank equally in all respects with the existing issued ordinary shares of the Company. For further information on the rights attaching to the ordinary shares please refer to the articles of association of the Company.

The Block Listing Shares will be issued by the Company as and when awards under the Pharos Energy plc Long-Term Incentive Plan are exercised.

The Block Listing Admission is expected to become effective on 28 September 2021.

For further information, please contact:

Pharos Energy plc                                                                                                                                 Tel: [phone]

Jann Brown, Chief Executive Officer 

Sue Rivett, Chief Financial Officer

Camarco   Tel: [phone]

Billy Clegg | Georgia Edmonds | Rebecca Waterworth

Notes to editors

Pharos Energy plc is an independent oil and gas exploration and production 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, Vietnam and Israel. 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. IPR Lake Qarun operates and holds the remaining 55% working interest in the NBS Concession.  In Vietnam, Pharos 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 has a 25% working interest in the Ca Ngu Vang (CVN) field located in Block 9-2, which is operated by the Hoan Vu Joint Operating Company. 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. In Israel, Pharos, together with Capricorn Energy PLC (formerly known as Cairn Energy PLC) and Israel's Ratio Oil Exploration, has eight licences offshore Israel. Each party has an equal working interest and Capricorn Energy is the operator.

 

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