• The highlight of Pharos’ operational update is the ~40% increase in 2P reserves in Egypt expected as at YE20 (YE19: 28.5 mmbbl). This reflects improved waterflood performance based on recent field data, and a new drilling and workover plan for 2021 onwards.
• Drilling is expected to recommence in Vietnam in 3Q21, a quarter earlier than previously announced.
• Pharos reported FY20 production of 11,373 boe/d in line with our expectations and the company’s guidance. FY20 production includes 5,27 ....
13 Jan 2021
Pharos Energy Plc (LSE: PHAR): Increasing our target price on reserves uplift
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Pharos Energy Plc (LSE: PHAR): Increasing our target price on reserves uplift
Pharos Energy PLC (PHAR:LON) | 21.0 0 0.0% | Mkt Cap: 88.6m
- Published:
13 Jan 2021 -
Author:
Stephane Foucaud -
Pages:
5
• The highlight of Pharos’ operational update is the ~40% increase in 2P reserves in Egypt expected as at YE20 (YE19: 28.5 mmbbl). This reflects improved waterflood performance based on recent field data, and a new drilling and workover plan for 2021 onwards.
• Drilling is expected to recommence in Vietnam in 3Q21, a quarter earlier than previously announced.
• Pharos reported FY20 production of 11,373 boe/d in line with our expectations and the company’s guidance. FY20 production includes 5,27 ....