Pharos Energy plc (LSE:PHAR) reported 2025 working interest production of 5,398 boepd, with volumes broadly split between Vietnam at 4,095 boepd and Egypt at 1,303 bopd. The group generated estimated revenue of around $115m during the year, remained debt free, and ended 2025 with approximately $40m in cash following the receipt of a $20m payment from Egypt’s EGPC.
Operational momentum was maintained through progress on a fully funded six-well offshore drilling programme across the TGT and CNV fields in Vietnam, alongside the securing of a two-year exploration extension on Blocks 125 and 126. In Egypt, Pharos agreed improved fiscal terms under a consolidated concession arrangement and completed 3D seismic acquisition at North Beni Suef. The company also continued to return capital to shareholders, paying $6.5m in dividends during 2025 and confirming an interim dividend for the 2025 financial year.
Looking ahead, Pharos has lifted its 2026 production guidance to a range of 5,200–6,400 boepd. The group expects to complete its Vietnam drilling campaign during the year, where appraisal success could increase Vietnamese output by up to 20% and reduce risk around future developments. In parallel, a six-well drilling programme is planned in Egypt, supported by a $50m capital expenditure budget designed to balance growth investment with ongoing shareholder distributions.
Overall, the outlook reflects a combination of steady financial performance and meaningful strategic progress highlighted during the results presentation. While technical indicators point to some bearish momentum, valuation appears reasonable and the dividend yield remains attractive. The continued focus on disciplined growth alongside shareholder returns is viewed as a key positive.
More about Pharos Energy
Pharos Energy plc is an independent energy company listed on the London Stock Exchange, focused on sustainable growth and delivering returns to shareholders. The group operates a portfolio of production, development and exploration assets in Vietnam and Egypt and is cash generative and debt free. Its core assets include offshore oil and gas fields such as TGT and CNV in Vietnam, as well as Egyptian concessions including El Fayum and North Beni Suef, operated in partnership with local entities under enhanced fiscal terms.
Leave a Reply