Phoenix Global Resources PLC Colombia Licence Disposal (9418G)

TIDMPGR

RNS Number : 9418G

Phoenix Global Resources PLC

09 November 2018

9 November 2018

Phoenix Global Resources plc

("Phoenix" or the "Company")

Colombia Licence Disposal

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, in line with its stated strategy to focus on oil and gas exploration and production in Argentina only, has sold its 70% interest in eight licences in Colombia.

This follows the successful completion in December last year of the demerger of its interest in Interoil Exploration & Production ASA that held certain interests in four licences in Colombia. With regards to the remaining three licences in Colombia in which it has a 70% interest, the Company has fulfilled its obligations under these licences and a request has been made to relinquish them, which is expected to be ratified within the next few months.

Ends

For further information, please contact:

 
 Phoenix Global Resources   Anuj Sharma, CEO      T: +54 11 5258 7500 
  plc                        Kevin Dennehy, CFO 
  Stockdale Securities       Antonio Bossi         T: +44 20 7601 6100 
                              Ed Thomas 
  Panmure Gordon             Adam James            T: +44 20 7886 2500 
                              Charles Lesser 
  Camarco                    Billy Clegg           T: +44 20 3757 4980 
                              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 rns@lseg.com or visit www.rns.com.

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