Pharos Energy plc (PHAR) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon and welcome to the Farris Energy PLC Premium Results presentation. Throughout the recorded meeting, investors will be in listen-only mode. Questions can be submitted any time by the Q&A tab situated in the right-hand corner of your screen. Just simply type in your question and press send. The company may not be in a position to answer every question received during the meeting itself. However, the company can review all questions submitted today and publish responses where it's appropriate to do so. Before we begin, we'd like to submit the following poll. I'd now like to hand over to Catherine Rose, CEO. Good afternoon. Thank you, Paul, and good afternoon, everybody. Thank you very much for taking the time to join us this afternoon. We do have a short presentation to summarise events from last year, our financial results and a few operational updates, and then we will open up to some Q&A. So thank you again. Just to start us off, I'll provide a brief introduction. As some of you may be aware, I joined Pharos about 20 months ago as CEO and the priority was very much about extracting as much value from the existing assets. and ensuring that the balance sheet was strong and robust. So today, reporting full year results from 2025 is my first full year in seat at Pharos. And we are delighted to announce that we've been able to deliver on some of those key levers that we identified in order to move forward to extracting value from the existing assets. And I'll talk a little bit more about that. We have two jurisdictions in Vietnam and Egypt, both producing and both jurisdictions have appetite for exploration as well. At the end of 2024, we were able to secure license extensions in Vietnam for our two producing fields, TGT and CMV. That was really critical to...