Oil price Oil is doing nothing as the reporting agencies come in with their monthly reports, even a decent set of inventory stats seemed to be ignored.
Pharos Energy issues 2021 AGM trading and operations update
01 Jun 2021
Pharos Energy has issued a trading and operations update in advance of the Company’s AGM on 8 June 2021. The information contained herein has not been audited and may be subject to further review and amendment.
Ed Story, President and Chief Executive Officer, commented: As a group, we are well positioned to allocate capital this year to drive cash flow and future value.
In Vietnam, we will start the next phase of our TGT development plan when we commence infill well drilling in Q3 2021. In Egypt, good progress has been made to find the right partner to support the funding of the development plan for the discovered resource in El Fayum. In addition, modest capital is being allocated to the organic growth potential of some of our exploration assets. In Egypt, the Batran exploration well is currently operating and in Vietnam, our 3D seismic programme in the north-western part of Block 125 is planned for H2 2
The Annual Report & Accounts of the Company for the year ended 31 December 2020, a Shareholder Circular, which includes Notice of the 2021 Annual General Meeting, and a Form of Proxy are now available on the Company s website and can be accessed via www.pharos.energy . Mailing of the above two documents, together with a Form of Proxy, to those shareholders having elected to receive paper copies will commence shortly. In accordance with LR 9.6.1, copies of the above two documents, together with a Form of Proxy, have also been submitted to the FCA s National Storage Mechanism and will shortly be available for inspection on the National Storage Mechanism s website,