Business
2025 Preliminary Results
Pharos Energy plc reported a net loss of $6.6 million for the year ended December 31, 2025, a decrease from a profit of $23.6 million in 2024, with revenues falling to $114.6 million from $136.1 million. The company's net cash position strengthened to $40.2 million, up from $16.5 million, bolstered by a $20 million payment from EGPC. Pharos recommended a final dividend of $5.2 million, or 0.9317 pence per share, subject to shareholder approval, bringing the total 2025 dividend to 1.331 pence per share, a 10% increase year-on-year. Operations in Vietnam commenced a six-well drilling campaign, while Egypt saw concession consolidation with improved fiscal terms. The company anticipates 2026 production guidance of 5,200-6,400 boepd net and has projected capital expenditure of $50 million. Disclaimer*
About this update from Pharos Energy Plc
[{"type":"text","content":"\n\nPharos Energy plc\n(\"Pharos\" or the \"Company\" or, together with its subsidiaries, the \"Group\")\n2025 Preliminary Results\nA year of delivery and strength\n \nPharos Energy plc, an independent energy company with assets in Vietnam and Egypt, announces its preliminary results for the year ended 31 December 2025. An analyst presentation will take place at 09.00 GMT today by invitation only. If you would like to register to attend, please contact Camarco at [email protected].\n \n \nKatherine Roe, Chief Executive Officer, commented:\n\"Pharos made significant strides in 2025 to enter 2026 with strong momentum across our portfolio. In Vietnam, we commenced the six-well drilling campaign on TGT and CNV to support current production and unlock incremental volumes from these assets. On Blocks 125 & 126, approval of the two-year extension in June 2025 enabled a renewed and structured process to progress discussions with potential farm-in partners, which continues with active discussions. In Egypt, we were pleased to receive approval from EGPC for the consolidation of our two existing concessions, delivering an immediate uplift in value with 20-year lease extensions and improved fiscal terms. I am delighted that our receivable balance is now at its lowest level since December 2021 at $6.1m, due to the $20 million payment received from EGPC in December, doubling our year end cash balance. \n\"This stronger balance sheet provides the foundation to continue our track record of delivering tangible shareholder returns, with $6.5m of dividend payments in 2025. Today, the Board has recommended a final dividend for the 2025 financial year of $5.2m, 0.9317 pence per share, subject to shareholders' approval at the Company's 2026 AGM, taking the 2025 full year dividend to 1.331 pence per share, an increase of 10% on the prior year.\n\"Going into 2026, Pharos is well positioned for continued growth and delivery. With a geographically stable asset base, solid financial performance, and well-protected cash flows, we are well placed to weather challenging macroeconomic conditions. Our majority unhedged position enables us to take advantage of the high oil price environment while pursuing a balanced mix of growth opportunities. We continue to progress our Vietnam drilling programme, which is on track to complet...