Pharos Energy (PHAR): Blocks 125 & 126 farm-in

This situation live

£122m · 29.3p · +53% since the first step

9 Dec 2025 · Formal process continues, encouraging interest · +3% until the next step Blocks 125 & 126: formal farm-in process continues with encouraging interest

12 May 2026 · Discussions continue with potential farm-in partners · −8% until the next step Discussions continue on Blocks 125 & 126 with potential farm-in partners.

16 Jul 2026 · Farm-in discussions continuing · +18% until the next step Discussions continue on Blocks 125 & 126 with potential farm-in partners

Disposal of a part (break-up)

Blocks 125 & 126 farm-in

Formal farm-out process, encouraging engagement

Next: Identify farm-in partner before exploration drilling

Every step · 6

9 Dec 2025 Formal process continues, encouraging interest – Blocks 125 & 126: formal farm-in process continues with encouraging interest ↗
22 Jan 2026 Advanced-stage discussions with potential partners – Blocks 125 & 126: formal process ongoing with discussions at advanced stage; further updates expected by mid-2026 ↗
25 Mar 2026 Formal farm-out process ongoing; discussions continue – Blocks 125 & 126 formal farm-out process ongoing with discussions continuing; further updates expected by mid-2026 ↗
12 May 2026 Discussions continue with potential farm-in partners – Discussions continue on Blocks 125 & 126 with potential farm-in partners. ↗
16 Jul 2026 Farm-in discussions continuing – Discussions continue on Blocks 125 & 126 with potential farm-in partners ↗
23 Sep 2026 Formal farm-out process, encouraging engagement – Exploration farm-out process of Blocks 125 & 126 to continue with encouraging engagement from potential partners ↗

What is happening

Pharos Energy: Blocks 125 & 126 farm-in – Formal farm-out process, encouraging engagement. ['Formal farm-out process, encouraging engagement']

In short: Pharos has been in farm-in discussions on Blocks 125 & 126 since Dec 2025. The 23 Sep 2026 interim results describe a formal process run with an independent adviser, with very encouraging engagement. Rig contractor talks continue to keep the option of drilling the prospect. No partner or terms have been announced.
Announced: 9 Dec 2025 · Formal process continues, encouraging interest
Latest: 23 Sep 2026 · Formal farm-out process, encouraging engagement
Process: Formal process with independent third-party adviser to find a farm-in partner before exploration drilling
Partner status: No partner or terms announced; engagement described as very encouraging
Rig: Discussions continue with rig contractors to retain optionality

Identify farm-in partner before exploration drilling.

Briefing Pro

What it does, how it got here, what management promised and delivered – written from its own announcements.

From the company's own announcements. Not investment advice.

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