Pharos Energy PLC has announced that its Chief Executive Officer, Jann Brown, and Chief Financial Officer, Sue Rivett, have purchased shares in the company. Jann Brown purchased 30,172 shares at a price of £0.217 per share, bringing her total number of shares held to 2,154,041, representing 0.509% of the company's issued capital. Sue Rivett purchased 4,494 shares at the same price, increasing her total number of shares held to 269,494, representing 0.064% of the company's issued capital.
Pharos Energy is an independent oil and gas exploration and production company listed on the London Stock Exchange. The company has interests in Egypt and Vietnam. In Egypt, Pharos holds a 45% working interest in the El Fayum Concession, which produces oil from 10 fields and is operated by Petrosilah. Pharos also holds a 45% working interest in the North Beni Suef Concession. In Vietnam, Pharos has a 30.5% working interest in Block 16-1, which contains the Te Giac Trang field, and a 25% working interest in the Ca Ngu Vang field.
The share purchases by the directors demonstrate their confidence in the company and its future prospects.