7th Aug 2018 17:03
LONDON (Alliance News) - Upstream oil & gas company Phoenix Global Resources PLC said Tuesday the Mendoza province in western Argentina has granted the company permits to "conduct unconventional oil & gas activities" in five wells in the Puesto Rojas block in the Vaca Muerta formation.
Chief Executive Officer Anuj Sharma said: "We look forward to continuing to work with Mendoza province in realising the full potential of the unconventional resources in the province in a safe and responsible manner. This work will provide the platform for further investments, creation of jobs and additional economic activities in the province."
Shares in Phoenix Global Resources closed down 2.0% Tuesday at 22.10 pence each.
Related Shares:
PGR.L