Phoenix Global Resources : Long Term Incentive Plan

28 June 2018

Phoenix Global Resources plc

('Phoenix' or the 'Company')

Long Term Incentive Plan

The Board of Phoenix (AIM:PGR; BCBA:PGR) announces that it has made the first grant of awards to certain directors and persons discharging managerial responsibilities under the Company's long term incentive plan ('LTIP').

The awards are granted as nil-cost conditional awards, over a total of 9,220,780 ordinary shares representing approximately 0.33% of the Company's issued share capital, and are subject to performance conditions based on the Company's performance and (subject to the rules of the LTIP) a vesting period of three years followed by an additional post-vesting holding period of a further two years. The awards are also subject to claw-back and malus provisions.

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Anuj Sharma
2	Reason for the notification
a)	Position/status	Chief Executive Officer, Phoenix Global Resources plc
b)	Initial notification/Amendment	This is an initial notification.
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Phoenix Global Resources plc
b)	LEI	213800KGHZ6DKGJNNT92
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Award over Ordinary Shares of 10p each
	Identification code	Award over Ordinary Shares with identification code GB00B7LHJ340
b)	Nature of the transaction	Grant of an award over Ordinary Shares under the Phoenix Global Resources Long Term Incentive Plan
c)	Price(s) and volume(s)
d)	Aggregated information
e)	Date of the transaction	27 June 2018
f)	Place of the transaction	Outside a Trading Venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Philip Wolfe
2	Reason for the notification
a)	Position/status	Chief Financial Officer, Phoenix Global Resources plc
b)	Initial notification/Amendment	This is an initial notification.
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Phoenix Global Resources plc
b)	LEI	213800KGHZ6DKGJNNT92
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Award over Ordinary Shares of 10p each
	Identification code	Award over Ordinary Shares with identification code GB00B7LHJ340
b)	Nature of the transaction	Grant of an award over Ordinary Shares under the Phoenix Global Resources Long Term Incentive Plan
c)	Price(s) and volume(s)
d)	Aggregated information
e)	Date of the transaction	27 June 2018
f)	Place of the transaction	Outside a Trading Venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Javier Vallesi
2	Reason for the notification
a)	Position/status	Chief Operating Officer, Phoenix Global Resources plc
b)	Initial notification/Amendment	This is an initial notification.
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Phoenix Global Resources plc
b)	LEI	213800KGHZ6DKGJNNT92
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Award over Ordinary Shares of 10p each
	Identification code	Award over Ordinary Shares with identification code GB00B7LHJ340
b)	Nature of the transaction	Grant of an award over Ordinary Shares under the Phoenix Global Resources Long Term Incentive Plan
c)	Price(s) and volume(s)
d)	Aggregated information
e)	Date of the transaction	27 June 2018
f)	Place of the transaction	Outside a Trading Venue

Ends

Enquiries:

Phoenix Global Resources plc	Anuj Sharma, CEO Philip Wolfe, CFO	T: [phone] T: [phone]
Stockdale Securities	Antonio Bossi Ed Thomas	T: [phone]
Panmure Gordon	Adam James Atholl Tweedie	T: [phone]
Camarco	Billy Clegg Owen Roberts James Crothers	T: [phone]

About Phoenix:

Phoenix Global Resources plc (AIM: PGR; BCBA: PGR) is an upstream oil and gas company offering its investors an opportunity to invest directly into Argentina's Vaca Muerta shale formation and other unconventional resources. The Vaca Muerta is the only producing shale outside of the US and has attracted significant major entrants including Total, BP, Chevron, ExxonMobil, Qatar Petroleum, Petronas, Shell and Equinor. The Company has 560,000 net Vaca Muerta acres covering approximately 7.5% of the formation, with three core Vaca Muerta areas (Puesto Rojas, Mata Mora and Corralera). The Company's unconventional acreage is underpinned by 57.2 MMboe conventional proven and probable reserves and 11,070 boepd of production in 2017. The Company's strategy is to invest in drilling activity in its Vaca Muerta acreage to increase resources, reserves and production and is well capitalised and of a scale to do so.

The Company's website iswww.phoenixglobalresources.com