The six-well drilling campaign in Vietnam is progressing on-time and on-budget, with the first five wells already contributing to production and reserves. In Egypt, a six-well drilling campaign has commenced, which – when combined with improved fiscal terms – is expected to drive additional value. These fully funded campaigns to grow production, coupled with exposure to higher oil prices, is driving strong cash flow generation, with Pharos reporting revenue YTD to April of US$49m and cash as at ....
