Phoenix Global Resources PLC Neuqu Licences (4037H)

TIDMPGR

RNS Number : 4037H

Phoenix Global Resources PLC

15 November 2018

15 November 2018

Phoenix Global Resources plc

("Phoenix" or the "Company")

Neuquén Licences

Further to the announcement on 19 September 2018, Phoenix Global Resources plc (AIM: PGR; BCBA: PGR), the upstream oil and gas company, which offers its investors exposure to Argentina's Vaca Muerta shale formation and other unconventional resources, announces that it has exercised the option to settle the final instalment of the payment due under the compensation agreement reached with Integra Oil & Gas S.A. ("IOG") in relation to the Mata Mora and Corralera exploration concessions, by allotting and issuing 25,000,000 new ordinary shares ("New Ordinary Shares") of nominal value of 10 pence each ("Ordinary Shares") to IOG at a price of 45 pence per share in lieu of cash.

Application has been made for admission of the New Ordinary Shares to trading on AIM and dealings in the New Ordinary Shares are expected to commence at 8.00 a.m. on 21 November 2018. The New Ordinary Shares will rank pari-passu with the Company's existing issued ordinary shares.

Following admission of the New Ordinary Shares, the total number of Ordinary Shares in issue will be 2,786,644,709. The Company does not hold any Ordinary Shares in treasury. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Ends

For further information, please contact:

 
 Phoenix Global Resources   Anuj Sharma, CEO      T: [phone] 
  plc                        Kevin Dennehy, CFO 
  Stockdale Securities       Antonio Bossi         T: [phone] 
                              Ed Thomas 
  Panmure Gordon             Adam James            T: [phone] 
                              Charles Lesser 
  Camarco                    Billy Clegg           T: [phone] 
                              Owen Roberts 
                              James Crothers 
 

About Phoenix

Phoenix Global Resources is a London Stock Exchange (AIM: PGR) and Buenos Aires Stock Exchange (BCBA: PGR) listed independent Argentina focused oil and gas exploration and production company. The Company has over 6.3 million licenced working interest acres in Argentina (of which over 5 million are operated), 57.2 million boe of working interest 2P reserves and average production of approximately 11,070 working interest boepd in 2017. Phoenix has significant exposure to the unconventional opportunity in Argentina through its more than 560,000 working interest acres with Vaca Muerta potential.

The Company's website is www.phoenixglobalresources.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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November 15, 2018 02:02 ET (07:02 GMT)