Phoenix Global Resources : Purchase of own shares

27 June 2019

Phoenix Global Resources Plc

('Phoenix' or the 'Company')

Purchase of own Shares

Phoenix Global Resources plc (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 it acquired 2,000,000 ordinary shares of 10 pence each ('Shares') on 26 June 2019 at 22.5 pence per share, in accordance with the authority to make an off-market purchase of Shares granted to it by shareholders of the Company at the Annual General Meeting held on 25 June 2019.

The acquired Shares will be held in treasury and it is the Company's intention to use these Shares to meets its obligations under the Company's employee share schemes.

Total Voting Rights

The Company further advises that, at the date of this announcement the Company's issued share capital comprises 2,784,644,709 Shares (excluding the 2,000,000 Shares held as treasury shares). Therefore, the Company's total number of Shares with voting rights is 2,784,644,709. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

For further information, please contact:

Phoenix Global Resources plc	Tim Harrington Kevin Dennehy, CFO	T: [phone]
Shore Capital (Nominated Adviser and Joint Broker)	Antonio Bossi David Coaten	T: [phone]
Panmure Gordon (Joint Broker)	Charles Lesser	T: [phone]
Camarco	Billy Clegg Owen Roberts James Crothers	T: [phone]

About Phoenix

Phoenix Global Resources is an independent oil and gas exploration and production company focused on Argentina and listed on the London Stock Exchange (AIM: PGR) and 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 approximately 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