The Phan 0.12.1 release supports analysis of php 7.0-7.2, and can be executed with php 7.0+.
The 0.12.x releases replace all of the previous releases (The 0.11 releases for php 7.2, the 0.10 releases for php 7.1, and the 0.8 releases for php 7.0)
See the file NEWS.md for what has changed in this version.
The 0.12.1 release contains fixes for crashes in the 0.12.0 release.