Pharos Energy PLC has announced the purchase and cancellation of 84,285 ordinary shares of £0.05 each in the Company through Peel Hunt LLP. The highest and lowest price paid per share was 25.0000 pence, with a volume-weighted average price paid per share also at 25.0000 pence. Following the purchase and cancellation, the Company will have 425,974,742 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 26,370,685 Ordinary Shares have been purchased for cancellation at a cost (excluding stamp duty and dealing expenses) of £6,201,147.76.

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 LSE included 84,285 shares purchased at 25.0000 pence per share at 09:43:30 on XLON. Shareholders may use the figure of 416,852,474 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 Company's Chief Executive Officer, Katherine Roe, and Chief Financial Officer, Sue Rivett, can be reached at Tel: 0207 7747 2000. Camarco can be contacted at Tel: 020 3757 4980, with Billy Clegg, Rebecca Waterworth, Kirsty Duff, and Andrew Turner available for assistance.