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Pharos Energy PLC - London-based energy company with assets in Vietnam and Egypt - Says group working interest net production is 5,801 barrels of oil equivalent per day in 2024, down 11% from 6,508 barrels in 2023 but in line with guidance, with 2024 figures including 4,361 barrels per day from Vietnam and 1,440 barrels from Egypt. Full-year revenue totals approximately $134 million, down 20% from $168.1 million, with around $115 million from Vietnam and $19 million from Egypt. For 2025, Pharos expects group working interest net production of between 5,000 and 6,2000 boepd, of which between 3,600 and 4,600 barrels would come from Vietnam and between 1,400 and 1,600 from Egypt. Says it expects drilling activities this year to deliver incremental production volumes in 2026 and beyond. Chief Executive Officer Katherine Roe says: ‘Our transformed and resilient debt-free balance sheet underpins our 2025 work programme in both Vietnam and Egypt as we focus our capital allocation towards growth and investment that delivers the highest returns for shareholders whilst remaining committed to our sustainable dividend policy. We look forward to a prosperous and successful year ahead and thank our shareholders for the ongoing support.’ Pharos Energy will release 2024 results on March 26. Current stock price: 24.25 pence each, down 5.6% on Thursday afternoon in London 12-month change: up 15% Copyright 2025 Alliance News Ltd. All Rights Reserved.
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