Phoenix Global Resources PLC Additional Funding (3597F)
09 Marzo 2020 - 1:00AM
UK Regulatory
TIDMPGR
RNS Number : 3597F
Phoenix Global Resources PLC
09 March 2020
9 March 2020
Phoenix Global Resources plc
("Phoenix" or the "Company" and together with its subsidiary
undertakings the "Group")
Additional Funding
Phoenix Global Resources plc (AIM: PGR; BCBA: PGR), the upstream
oil and gas company offering its investors an opportunity to invest
directly into Argentina's Vaca Muerta shale formation and other
unconventional resources, is pleased to announce that the existing
convertible revolving credit facility with Mercuria Energy
Netherlands BV, part of the Mercuria Group ("Mercuria"), has been
increased by US$6 million to US$291 million (the "Amended
Convertible RCF"). The additional funds will be used to part
support the Group's business plan for 2020.
Terms of the additional $6 million portion of the Amended
Convertible RCF are the same as the terms of the existing Facility
C loan as announced on 28 May 2019.
The Company remains in discussion with Mercuria regarding the
funding of the business plan for the balance of the year.
For further information, please contact:
Phoenix Global Resources plc Kevin Dennehy, CFO T: +54 11 5258 7500
Shore Capital Antonio Bossi T: +44 20 7408 4090
Joint broker and nominated David Coaten
adviser
Panmure Gordon Daniel Norman T: +44 20 7886 2500
Joint broker
Camarco Billy Clegg T: +44 20 3757 4980
Financial PR Owen Roberts
James Crothers
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). The Company has over 1.8 million
licenced working interest acres in Argentina (of which over 0.7
million are operated), 57.1 million boe of working interest 2P
reserves and average working interest production of 10,249 boepd in
2018. Phoenix has signi cant exposure to the unconventional
opportunity in Argentina through its approximately 700,000 working
interest acres with Vaca Muerta and other unconventional
potential.
The Company's website is www.phoenixglobalresources.com
- ENDS -
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END
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