Phoenix Global Resources PLC Notification from shareholders (7220X)
31 August 2022 - 8:02AM
UK Regulatory
TIDMPGR
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 Nigel Duxbury, CFO T: +44 20 3912 2800
plc
Shore Capital Toby Gibbs T: +44 20 7408 4090
Nominated Adviser and David Coaten
Joint Broker
Panmure Gordon John Prior T: +44 20 7886 2500
Joint Broker Atholl Tweedie
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 signi cant 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
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END
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