Pharos Energy (GB:PHAR) has released an update.
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Pharos Energy PLC, the independent energy company with assets in Vietnam and Egypt, reports stable production, strong cash flows, and a robust financial status, including a shift to a net cash position and the repayment of all outstanding debt. CEO Katherine Roe highlights the strategic focus on growth in both regions and shareholder returns, with the announcement of an interim dividend and continuation of the share buyback program. The company maintains its production guidance for 2024, with further development expected upon approvals and extensions of licenses in Vietnam and continued exploration in Egypt.
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