31 Aug 2022 07:02
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