TIDMPGR

RNS Number : 3943Z

Phoenix Global Resources PLC

14 December 2017

14 December 2017

Phoenix Global Resources plc

("Phoenix" or the "Company")

Reduction of Capital

Further to the circular posted to Shareholders on 7 November 2017, the Board of Phoenix is pleased to announce that following the confirmation hearing in the High Court of Justice of England and Wales yesterday, the Reduction of Capital has become effective today.

Accordingly, the Deferred Share and the entire amount standing to the credit of the share premium account of the Company have been cancelled.

For further information, please contact:

 
 Phoenix Global         Anuj Sharma,       T: +54 11 5258 
  Resources plc          CEO                7500 
                         Philip Wolfe,      T: +44 20 7839 
                         CFO                4974 
 Stockdale Securities   Antonio Bossi      T: +44 20 7601 
                         Ed Thomas          6100 
 
   Panmure Gordon         Adam James         T: +44 20 7886 
                          Atholl Tweedie     2500 
 
   Camarco                Billy Clegg        T: +44 20 3757 
                          Gordon Poole       4980 
                          James Crothers

Capitalised terms used but not defined in this announcement have the same meaning as in the Circular published by the Company on 7 November 2017 and available on its website at www.phoenixglobalresources.com

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 licensed working interest acres in Argentina (of which over 5 million are operated), 61.7 million boe of working interest 2P reserves and average production of approximately 11,300 working interest boepd in 2016. Phoenix has significant exposure to the unconventional opportunity in Argentina through its 480,000 working interest acres with Vaca Muerta potential.

The Company's website is www.phoenixglobalresources.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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December 14, 2017 09:00 ET (14:00 GMT)

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