External Directorship

RNS Number : 3452O

Pharos Energy PLC

09 June 2022

 

9 June 2022

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 confirms that, Lisa Mitchell, a Non-Executive Director of the Company, has been appointed to the Board of Orca Energy Group Inc. a TSX-V listed company, a directorship which is held externally to Pharos Energy plc. Lisa currently serves as Chief Financial Officer of Orca Energy Group Inc and this Board appointment became effective following shareholder approval at the Orca Energy Group plc Annual General Meeting held on 8 June 2022.

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Enquiries

Pharos Energy plc    Tel: [phone]

Tony Hunter, Company Secretary

Camarco   Tel: [phone]

Billy Clegg | Rebecca Waterworth | Georgia Edmonds

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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