4th Feb 2019 11:45
LONDON (Alliance News) - Phoenix Global Resources PLC on Monday said it extended an existing convertible revolving credit facility with Mercuria Energy Netherlands BV to USD235 million, adding USD50 million of extra available funds.
The upstream oil & gas company will use the facility to support its 2019 business plan.
Chief Executive Officer Anuj Sharma said: "I am pleased to announce that funding is in place to support the first phase of our 2019 work program, which will allow Phoenix to continue to develop its highly attractive asset base."
Phoenix Global Resources shares were trading up 0.2% on Monday at 24.16 pence each.
Related Shares:
PGR.L