Director/PDMR Shareholding

RNS Number : 8836A

Pharos Energy PLC

27 September 2022

 

27 September 2022

Pharos Energy plc

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

DIRECTOR/PDMR SHAREHOLDING

Share Purchase by Director

The Company was notified on 27 September 2022 that, on the same day, John Martin, Non-Executive Chair, purchased 107,000 Pharos Energy plc ordinary shares of £0.05 each ("Shares") on the open market at a purchase price of £0.1865 per Share.

The resulting shareholding of the director concerned is set out in the table below:

Director	Number of Shares purchased	Total number of Shares held following purchase	% of Company's Issued Capital (excluding treasury shares)
John Martin	107,000	237,000	0.054%

For further information, please contact:

Pharos Energy plc    Tel: [phone]

Tony Hunter, Company Secretary

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. In July 2022 Capricorn, Ratio and Pharos reached agreement to relinquish the Israeli licences, and Capricorn as operator has informed the Israeli Ministry of Energy of the parties' intention.

1	Details of the person discharging managerial responsibilities
a)	Name	JOHN MARTIN
2	Reason for the notification
a)	Position/status	Non-Executive Chair
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	PHAROS ENERGY PLC
b)	LEI	549300DDKLXYLLO4N524
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	ORDINARY SHARES OF £0.05 EACH GB00B572ZV91
b)	Nature of the transaction	Acquisition of Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.1865 107,000
d)	Aggregated information -  Aggregated volume -  Price	107,000 £19,955.50
e)	Date of the transaction	27/09/22
f)	Place of the transaction	XLON

 

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