Pharos Energy Cuts Egyptian Receivables After $20m EGPC Payment

Pharos Energy ( (GB:PHAR) ) has issued an announcement.

Pharos Energy has received a $20 million payment from the Egyptian General Petroleum Corporation, significantly reducing its outstanding receivables in Egypt to $7.4 million, the lowest level since 2021. Management highlighted that the improved receivables position, combined with recently enhanced fiscal terms on its consolidated concession agreement, strengthens the investment case for its Egyptian portfolio and supports the planned drilling campaign with partner IPR to lift production, in alignment with Egypt’s national production targets and long‑term value creation for stakeholders.

The most recent analyst rating on (GB:PHAR) stock is a Hold with a £21.00 price target. To see the full list of analyst forecasts on Pharos Energy stock, see the GB:PHAR Stock Forecast page.

Spark’s Take on GB:PHAR Stock

According to Spark, TipRanks’ AI Analyst, GB:PHAR is a Neutral.

Pharos Energy’s overall score reflects a mixed financial performance with significant strategic achievements highlighted in the earnings call. The technical analysis indicates bearish momentum, which is a concern. The valuation is fair, with an attractive dividend yield. Strategic focus on growth and shareholder returns is a positive aspect.

To see Spark’s full report on GB:PHAR stock, click here.

More about Pharos Energy

Pharos Energy plc is an independent energy company listed on the London Stock Exchange, focused on sustainable growth from a portfolio of stable production, development and exploration assets in Vietnam and Egypt. The group is cash generative with a strong balance sheet and targets both organic and inorganic opportunities across its core upstream oil and gas operations.

Average Trading Volume: 277,810

Technical Sentiment Signal: Sell

Current Market Cap: £78.59M

Find detailed analytics on PHAR stock on TipRanks’ Stock Analysis page.