Pharos Energy plc 是一家在越南和埃及拥有资产的独立能源公司，在公司2025年5月22日14:00（英国夏令时）召开年度股东大会（AGM）之前，该公司发布了以下交易和运营更新。此处包含的信息未经审计，可能需要进一步审查和修订。

首席执行官 Katherine Roe 表示：
“我们2025年开局强劲，生产步入正轨，并产生了稳健的自由现金流，这得益于我们优质的资产基础、无负债状况以及持续的财务纪律。在越南，我们的业务依然强劲，油价处于低盈亏平衡点，我们看到了巨大的产量增长潜力。继2024年12月TGT和CNV许可证延期获得批准后，TGT和CNV评估井的钻探准备工作目前正在顺利进行中。”随着近期获得钻井合同，我们正在优先评估我们两个油田的重要新区域，以推动我们生产资产的进一步增长和价值提升。

“在埃及，我们在自筹资金资产方面正在稳步推进，并致力于在2025年2月与埃及石油公司签署谅解备忘录以及近期取得积极进展之后尽快完成特许权合并谈判。”

“我们始终致力于实现增长、规模化和股东可观回报的战略重点，并相信我们正在采取的措施将推动2026年及以后产量的显著增长。”

要点
- 截至2025年4月30日的四个月，集团权益产量为净5,757桶油当量/天，符合集团2025年权益产量指导值5,000-6,200桶油当量/天：
- 越南产量为4,216桶油当量/天。越南2025年产量指导值净3,600-4,600桶油当量/天
- 埃及 1,541 桶/天。埃及2025年产量指引：1,400-1,600桶/天
- 越南：
- TGT：近期已获得钻机合同，准备钻探评估井18X，目标是区块西部区域，预计四季度将开始钻探三口加密井
- CNV：继续规划钻探评估井5X，以解锁油田北部，预计四季度将开始钻探一口加密井
- 两处资产的三维地震后处理工作仍在继续，预计三季度完成
- 125和126区块：2月份提交了为期两年的产量分成合同（PSC）勘探阶段延期申请，目前井段已取得进展；继续积极寻找外包合作伙伴
- 埃及：
- 法尤姆：2月份勘探承诺井获得商业发现后，5月份向埃及石油公司（EGPC）提交了新的开发租约申请。正在规划下半年开始两口井的钻探计划
- 北贝尼苏韦夫（NBS）：正在进行的三维地震数据处理预计将于第三季度完成，随后进行测绘和解释
- 继 2025 年 2 月签署有关拟议合并 El Fayum 和 NBS 特许权的谅解备忘录后，与 EGPC 的讨论继续取得积极进展，各方承诺尽快完成谈判
- 2025 年 1 月至 4 月集团收入约 4500 万美元
- 截至 2025 年 4 月 30 日的现金余额约 2200 万美元；继续保持无债务状态
- 埃及应收账款余额 3170 万美元，截至 2025 年 4 月 30 日的四个月内收到 490 万美元
- 预测集团全年现金资本支出缩小至 3300 万美元至 4000 万美元之间，预计另外约 1700 万美元将落入 2026 年初。工作计划的时间取决于越南的钻井计划和埃及合并特许协议的批准

2025 年年度股东大会交易和运营更新
- 集团 2025 年 6 月至 12 月预测产量的约 12% 已对冲，确保底价和上限价格分别为 63.3 美元/桶和 83.6 美元/桶
- 董事会继续考虑和审查扩大现有资产基础的其他机会，以扩大规模并为股东创造更多回报

Pharos Energy plc, an independent energy company with assets in Vietnam and Egypt, provides the following Trading and Operations Update ahead of the Company’s annual general meeting (AGM) on 22 May 2025 at 14.00 (BST). The information contained herein has not been audited and may be subject to further review and amendment.

Katherine Roe, Chief Executive Officer, commented:
“We have had a strong start to 2025, with production on track and solid free cash flow generation, underpinned by our high-quality asset base, debt-free position, and continued financial discipline. In Vietnam, our business remains robust with a low breakeven oil price, and we see significant potential for growth in production. Following the approval of the TGT and CNV licence extensions in December 2024, preparations are now well underway for the drilling of TGT and CNV appraisal wells. With the recent securing of rig contracts, we are progressing with our priority of appraising important new areas of our two fields to drive further growth and value from our producing assets.

“In Egypt, we are making steady progress across our self-funded assets and are focused on completing the concession consolidation negotiations as soon as possible following the signing of an MOU with EGPC in February 2025 and recent positive traction.

“We remain committed to our strategic priority to deliver growth, scale and attractive returns to shareholders, and believe the steps we are taking will drive meaningful production growth in 2026 and beyond.”

Highlights
- Group working interest production for the four months ended 30 April 2025 was 5,757 boepd net, in line with Group working interest 2025 production guidance of 5,000 – 6,200 boepd:
- Vietnam 4,216 boepd. Vietnam 2025 production guidance 3,600 – 4,600 boepd net
- Egypt 1,541 bopd. Egypt 2025 production guidance 1,400 – 1,600 bopd
- Vietnam:
- TGT: Preparations underway with the recent securing of rig contracts to drill the appraisal well 18X, targeting the block’s western area, and three infill wells expected to commence in 4Q
- CNV: Planning continues for the drilling of one appraisal well 5X, unlocking the northern part of the field, and one infill well expected to commence in 4Q
- 3D seismic reprocessing on both assets continues, expected completion in 3Q
- Blocks 125 & 126: Application submitted for a two-year PSC exploration phase extension in February, nowwell advanced; active engagement in seeking a farm-out partner continues
- Egypt:
- El Fayum: Application for a new development lease submitted to EGPC in May following the commercial discovery made by the exploration commitment well in February. Planning underway to commence two-well drilling programme in 2H
- North Beni Suef (NBS): Ongoing processing of 3D seismic data expected to complete in 3Q, with mapping and interpretation to follow
- Discussions with EGPC continue to progress positively following the signing of the MOU in February 2025 in relation to the proposed consolidation of the El Fayum and NBS concessions, with all parties committed to concluding negotiations as soon as possible
- Group revenue for January to April 2025 c.$45m
- Cash balances as at 30 April 2025 c.$22m; continued debt free position
- Egypt receivable balance $31.7m, having received $4.9m in the four months to 30 April 2025
- Forecast full year cash capex for the Group is narrowed to between $33m and c.$40m with an additional c.$17m expected to fall into early 2026. The timing of the work programme is dependent upon drilling schedules in Vietnam and the approval of a consolidated concession agreement in Egypt

2025 AGM Trading and Operations Update
- Approximately 12% of the Group’s 2025 forecast production from June to December 2025 hedged, securing floor and ceiling prices at $63.3/bbl and $83.6/bbl, respectively
- The Board continues to consider and review additional opportunities to expand on the current asset base that can build scale and generate additional returns for shareholders