Pharos Energy PLC has announced the purchase and cancellation of 53,290 ordinary shares of £0.05 each in the Company through Peel Hunt LLP. The highest and lowest price paid per share was 24.1000 pence, with a volume-weighted average price paid per share also at 24.1000 pence. Following the purchase and cancellation, the Company will have 428,718,112 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 23,627,315 Ordinary Shares have been purchased for cancellation at a cost (excluding stamp duty and dealing expenses) of £5,518,150.53.

The Company has provided detailed information on 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 (LSE) included 53,290 shares purchased at 24.1000 pence per share at 16:36:03 on XLON. Shareholders may use the figure of 419,595,844 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.