Phoenix Global Resources PLC - oil and gas company - Appoints Pablo Bizzotto as chief executive officer, effective immediately. Until recently, Bizzotto was the upstream executive vice president at YPF and prior to that the unconventional resource executive manager at YPF leading operations on the Vaca Muerta formation in the Neuquen basin and some of Argentina's most significant tight gas development such as Rincon del Mangrullo. He previously worked for more than 12 years with Pan American Energy, where he held various positions, gaining experience in all basins in Argentina.
Also on Friday, Phoenix announced that production has restarted, and is expected to continue if demand in Argentina continues to increase, at its operated licences Puesto Rojas, Tupungato and Atamisqui and its non-operated licence Chachahuen, albeit initially at lower levels than before the Covid-19 pandemic. The Company also expects to restart production at its operated licence Mata Mora and its non-operated licences Rio Cullen/Las Violetas and Cajon de Los Caballos, in the near future. The Company continues to implement significant cost reductions across all areas of the business.
Current stock price: 7.00 pence
Year-to-date change: down 64%
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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