Encoding cannot be loaded

Question

I'm having a problem with Phalanger 3.0 running as a console app on Mono 4.0.1

Program.php

<?php
echo 'Hello world';
?>

Compile

$mono phpc.exe Program.php /out:Program.exe

Run

$mono Program.exe

Output

Encoding cannot be loaded.
fileEncoding=""
Hello world

Is there any configurations am I missing or is it normal?