Pharos Energy PLC has announced the purchase and cancellation of 57,148 ordinary shares of £0.05 each in the Company through Peel Hunt LLP. The highest and lowest price paid per share was 25.1640 pence, with a volume-weighted average price paid per share also at 25.1640 pence. Following the purchase and cancellation, the Company will have 428,223,423 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, a total of 24,122,004 Ordinary Shares have been purchased for cancellation at a cost of £5,638,641.99, excluding stamp duty and dealing expenses.

The Company has provided detailed information of the individual trades made by Peel Hunt as part of the Programme, in accordance with the UK version of Regulation (EU) No. 596/2014. The individual transactions on the London Stock Exchange included 57,148 shares purchased at 25.1640 pence per share at 10:53:50 on XLON. Shareholders may use the figure of 419,101,155 as the denominator for calculating whether they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

For further information, interested parties can contact Pharos Energy plc or Camarco. The former can be reached at 0207 7747 2000, with Jann Brown, Chief Executive Officer, and Sue Rivett, Chief Financial Officer, available for inquiries. Camarco can be contacted at 020 3757 4980, with Billy Clegg, Rebecca Waterworth, Kirsty Duff, and Andrew Turner available for assistance.