External Directorship

RNS Number : 7816W

Pharos Energy PLC

28 April 2021

 

28 April 2021

Pharos Energy plc

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

External Directorship

In accordance with Listing Rule 9.6.14, Pharos Energy plc announces that Jann Brown, its Managing Director and Chief Financial Officer, is to be appointed as an independent non-executive Director of RHI Magnesita N.V. (LSE: RHIM) effective 10 June 2021, subject to shareholder approval at the RHI Magnesita N.V Annual General Meeting on that day. Jann will act as an observer of the RHI Magnesita N.V. Board with immediate effect.

Enquiries

Pharos Energy plc   

Tony Hunter, Company Secretary                                                                                                        Tel: [phone]

Camarco     Tel: [phone]

Billy Clegg | Owen Roberts | Monique Perks

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 100% working interest in the El Fayum oil Concession in the Western Desert. The Concession produces from 10 fields and is located 80 km southwest of Cairo. It is operated by Petrosilah, a 50/50 JV between Pharos and the Egyptian General Petroleum Corporation (EGPC).  Pharos is also an operator with a 100% working interest in the North Beni Suef (NBS) Concession, which is located immediately south of the El Fayum 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 Cairn Energy plc and Israel's Ratio Oil Exploration, have eight licences offshore Israel. Each party has an equal working interest and Cairn is the operator.

 

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