Pharos Energy plc has announced that it has purchased 116,037 of its own ordinary shares through Peel Hunt LLP as part of its share buyback program. The shares purchased will be cancelled. The highest price paid per share was 22.7000 pence, the lowest price paid per share was also 22.7000 pence, and the volume weighted average price paid per share was 22.7000 pence. After the purchase and cancellation, the company will have 436,945,043 ordinary shares in issue, with 9,122,268 held in treasury. The figure of 427,822,775 may be used by shareholders as the denominator for calculating their interest in the company. Since the initiation of the share buyback program, the company has purchased a total of 15,400,384 ordinary shares for cancellation at a cost of £3,699,714.92.

For further information, please contact Pharos Energy plc at 0207 7747 2000.