Pharos faces squeeze as Egyptian pound tumbles
The company warned that it would keep watch on its receivables. This, it said, may “impact the capital available for development”.
Pharos Energy
Angola ejects WM-DC from Cabinda North
Angola has ejected WM-DC Resources from the Cabinda North block, for alleged failure to comply with its contractual obligations.
Pharos plans for executive shuffle on Egypt deal
Pharos Energy is shuffling its executive team, moving Jann Brown to the post of CEO and with Ed Storey shifting to focus on Vietnam, as the company nears completion of its Egyptian farm-out deal.
Pharos starts initial drilling campaign in Egypt
Pharos Energy has restarted drilling in Egypt at the El Fayum concession, the company has declared.
Pharos farms out Egyptian assets to IPR
Pharos Energy has struck a farm-out and sale agreement for a stake in its Egyptian assets with a subsidiary of IPR Energy.
UK’s Pharos Energy excited by Vietnam potential
UK-listed Pharos Energy is excited about its upcoming Vietnam activities with a 3D seismic shoot lined up over a high-potential exploration permit and a six-well production drilling programme set to start at its Te Giac Trang offshore oilfield.
Pharos cuts breakeven at El Fayum
Pharos Energy has secured improved fiscal terms on its El Fayum concession, in Egypt’s Western Desert.
Pharos cuts better deal in Egypt, seeks farm out
Pharos Energy intends to farm out its Egyptian assets, with the company hiring Jefferies to handle the process.
Pharos warns of Egyptian decline
Pharos Energy has put on hold all development work in Egypt, which will lead production to decline.
Pharos puts dividend on hold, pulls production guidance
Pharos Energy has set out plans to spend around $45 million in 2020 but has suspended production guidance from Egypt in response to the oil price pressures.
Pharos pushes Egyptian work after slow start
Pharos Energy’s Egyptian assets have increased production slower than expected but should overtake the company’s Vietnamese volumes this year.