• The farm-out process in Egypt is progressing well. While it is taking a bit longer than initially anticipated, COVID-19 has had an impact on logistics, such as the ability to arrange a site visit. We understand that this has now taken place and that only a few minor items remain to be finalized. We estimate that a farm-in partner in Egypt would unlock £0.25 per share of value and increase our ReNAV by £0.10 per share. We view the current share price weakness as a buying opportunity.
• 1H21 pro ....
19 Jul 2021
Pharos Energy Plc (LSE: PHAR): Farm out transaction in Egypt intact. Production guidance maintained.
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Pharos Energy Plc (LSE: PHAR): Farm out transaction in Egypt intact. Production guidance maintained.
Pharos Energy PLC (PHAR:LON) | 23.4 0 0.0% | Mkt Cap: 98.4m
- Published:
19 Jul 2021 -
Author:
Stephane Foucaud -
Pages:
5
• The farm-out process in Egypt is progressing well. While it is taking a bit longer than initially anticipated, COVID-19 has had an impact on logistics, such as the ability to arrange a site visit. We understand that this has now taken place and that only a few minor items remain to be finalized. We estimate that a farm-in partner in Egypt would unlock £0.25 per share of value and increase our ReNAV by £0.10 per share. We view the current share price weakness as a buying opportunity.
• 1H21 pro ....