4 November 2019

Phoenix Global Resources plc

('Phoenix' or the 'Company')

Proposed Non-core Assets Sale

Further to the announcement on 21 October 2019, Phoenix Global Resources (AIM: PGR; BCBA: PGR), the upstream oil and gas company offering its investors direct exposure to Argentina's Vaca Muerta shale formation and other unconventional resources, announces that an extension until 6 November 2019 to the satisfaction of certain conditions pursuant to the sale agreement with Echo Energy plc has been agreed.

For further information, please contact:

Phoenix Global Resources plc

Kevin Dennehy, CFO

T: +54 11 5258 7500

Shore Capital

Joint broker and nominated adviser

Antonio Bossi

David Coaten

T: +44 20 7408 4090

Panmure Gordon

Joint broker

Charles Lesser

T: +44 20 7886 2500

Camarco

Financial PR

Billy Clegg

Owen Roberts

James Crothers

T: +44 20 3757 4980

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 significant 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

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Phoenix Global Resources plc published this content on 04 November 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 November 2019 10:59:00 UTC