Pharos Energy (OTCMKTS:SOCLF) Shares Down 9.8% – Here’s What Happened

Pharos Energy PLC (OTCMKTS:SOCLF) shares fell 9.8% during mid-day trading on Monday . The company traded as low as $0.37 and last traded at $0.37. 92,060 shares traded hands during trading, an increase of 681% from the average session volume of 11,781 shares. The stock had previously closed at $0.41.

Pharos Energy Price Performance

The firm’s fifty day moving average price is $0.29 and its 200 day moving average price is $0.29.

About Pharos Energy

Pharos Energy PLC is a London-headquartered independent oil and gas exploration and production company. It focuses on the development, production and optimisation of upstream hydrocarbon assets, with a particular emphasis on cost-effective field operations and reservoir management. The company’s corporate office is based in the City of London, underlining its status as a UK-listed operator with an international footprint.

The company’s flagship asset is its interest in the West Gharib onshore concession in Egypt’s Gulf of Suez region, where Pharos Energy oversees drilling, production, facility maintenance and reservoir surveillance.