9 Nov 2018 13:45
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 plc | Anuj Sharma, CEO Kevin Dennehy, CFO | T: +54 11 5258 7500
|
Stockdale Securities |
Antonio Bossi Ed Thomas |
T: +44 20 7601 6100 |
Panmure Gordon |
Adam James Charles Lesser |
T: +44 20 7886 2500 |
Camarco |
Billy Clegg Owen Roberts James Crothers |
T: +44 20 3757 4980 |
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