Pharos Energy PLC has announced the purchase and cancellation of 32,555 ordinary shares of £0.05 each in the Company through Peel Hunt LLP as part of its share buyback programme. The highest and lowest price paid per share was 23.6000 pence, with a volume-weighted average price paid per share also at 23.6000 pence. Following the purchase and cancellation, the Company will have 429,366,834 Ordinary Shares of £0.05 each in issue, with 9,122,268 Ordinary Shares held in treasury.

Since the initiation of the earlier phase of the Company's share buyback programme in July 2022, Pharos Energy PLC has purchased a total of 22,978,593 Ordinary Shares for cancellation at a cost (excluding stamp duty and dealing expenses) of £5,365,671.83. The Company has provided detailed information of the individual trades made by Peel Hunt as part of the Programme in accordance with the Market Abuse Regulation.

For further information, interested parties can contact Pharos Energy PLC or Camarco. The company's Chief Executive Officer, Jann Brown, and Chief Financial Officer, Sue Rivett, can be reached at 0207 7747 2000. Camarco can be contacted at 020 3757 4980.

This update provides insight into Pharos Energy PLC's ongoing share buyback programme, demonstrating the company's commitment to enhancing shareholder value and optimizing its capital structure.