**Summary of Pharos Energy PLCs 2025 Interim Results**
Pharos Energy PLC, an independent energy company operating in Vietnam and Egypt, announced its interim results for the six months ended 30 June 2025. The company reported stable production of 5,642 boepd (barrels of oil equivalent per day), in line with guidance, and strong cash generation despite a challenging global environment. Key highlights include
### **Operational Performance**
**Vietnam**Preparations are underway for a significant six-well drilling campaign in the fourth quarter, targeting the TGT and CNV fields. This campaign is expected to unlock future growth and de-risk development opportunities, with results anticipated in the first half of 2026. The company also received a two-year extension for its exploration blocks 125 & 126, supporting long-term potential.
**Egypt**Pharos secured approval for a consolidated Concession Agreement, which enhances the value of its Egyptian portfolio and increases 2P reserves by 25% from year-end 2024. The improved fiscal terms provide an attractive investment framework for both Pharos and its partner, IPR.
### **Financial Performance**
**Revenue**Group revenue was $65.6 million, slightly up from $65.0 million in the same period last year.
**Net Loss**A net loss of $2.2 million was reported after adjusting for re-measurements, compared to a net profit of $2.7 million in the prior year.
**Cash Flow**Cash generated from operations was $31.9 million, with operating cash flow at $16.1 million.
**Cash Position**Net cash as of 30 June 2025 was $22.6 million, up from $16.5 million at the end of 2024.
**Dividend**An interim dividend of 0.3993 pence per share was announced, a 10% increase from the previous year.
### **Strategic Focus**
**Growth and Scale**Pharos remains focused on maximizing value from its existing portfolio while evaluating opportunities to build scale, both organically and inorganically.
**Financial Discipline**The company maintains a strong financial position with a debt-free balance sheet, enabling continued investment in core assets and shareholder returns.
### **Outlook**
**Production Guidance**The 2025 production guidance range was narrowed to 5,200-6,000 boepd, reflecting consistent performance in Vietnam and lower-than-expected production in Egypt.
**Capital Expenditure**Forecast cash capex for the full year is approximately $35 million, with $8.2 million incurred in the first half.
**Exploration**The farm-out process for blocks 125 & 126 in Vietnam continues with encouraging engagement from potential partners.
### **ESG and Corporate Governance**
**Sustainability**Pharos remains committed to its Net Zero by 2050 target, with stable Scope 1 and 2 emissions in the first half of 2025.
**Social Initiatives**The company invested in 20 social and community projects, focusing on education and support for low-income communities.
**Governance**The Board has undergone leadership changes to maintain high governance standards, with regular engagement with shareholders.
### **Conclusion**
Pharos Energy PLC demonstrated resilience in the first half of 2025, with stable production, strong cash generation, and strategic progress in both Vietnam and Egypt. The company’s focus on operational excellence, financial discipline, and sustainable growth positions it well for future opportunities, despite ongoing global challenges.