Pharos Energy PLC has announced the purchase and cancellation of 88,521 ordinary shares of £0.05 each in the Company through Peel Hunt LLP. The highest and lowest price paid per share was 24.9000 pence, with a volume-weighted average price paid per share also at 24.9000 pence. Following the purchase and cancellation, the Company will have 425,886,221 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 26,459,206 Ordinary Shares have been purchased for cancellation at a cost (excluding stamp duty and dealing expenses) of £6,223,189.49.

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 88,521 shares purchased at 24.9000 pence per share at 11:41:25 through the execution venue XLON. Shareholders may use the figure of 416,763,953 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.