RNS Number : 7220X
Phoenix Global Resources PLC
31 August 2022
 

31 August 2022

 

Phoenix Global Resources plc

("Phoenix" or the "Company")

 

Notification from shareholders

 

The Board of Phoenix Global Resources plc (AIM: PGR; BCBA: PGR), the upstream oil and gas company, announces that it has received from lawyers acting for certain shareholders of the Company who hold, in aggregate, approximately 2% of the Company's issued share capital, a letter before action (the "Letter") in relation to certain claims alleged against the Company and other parties.

 

The Board is taking legal advice in relation to the Letter and believes the claims that it alleges to be without merit.

 

Further announcements will be made as and when and if appropriate or necessary.

 

Ends

 

For further information, please contact:

 

Phoenix Global Resources plc

Nigel Duxbury, CFO

 

T: +44 20 3912 2800

 

 

Shore Capital

Nominated Adviser and Joint Broker

 

 

Toby Gibbs

David Coaten

 

T: +44 20 7408 4090

 

Panmure Gordon

Joint Broker

 

John Prior

Atholl Tweedie

 

T: +44 20 7886 2500

 

About Phoenix

Phoenix Global Resources is an independent oil and gas exploration and production company focused on Argentina and listed on both the London Stock Exchange (AIM: PGR) and the Buenos Aires Stock Exchange (BCBA: PGR) and offers its investors an opportunity to invest directly into Argentina's Vaca Muerta shale formation and other unconventional resources.  The Company has over 0.8 million licenced working interest acres in Argentina (of which approximately 0.7 million are operated), 71.1 million boe of working interest 2P reserves and average working interest production of 4,553 boepd in 2021. Phoenix has significant exposure to the unconventional opportunity in Argentina through its approximately 0.4 million working interest acres with Vaca Muerta and other unconventional 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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCWPUGURUPPUQG