PRESS RELEASE

Permits for Unconventional Activities Granted by Mendoza Province

By
Tuesday, August 7, 2018

Press release from Phoenix Global Resources

Phoenix Global Resources plc (AIM: PGR; BCBA: PGR), the upstream oil and gas company offering its investors an opportunity to invest directly into Argentina's Vaca Muerta shale formation, is pleased to announce the grant of permits by Mendoza province to conduct unconventional oil and gas activities in five wells in the Puesto Rojas block.

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Mendoza province has adopted regulations in Argentina consistent with industry and international best practice, to ensure unconventional activities are carried out in an environmentally safe and sound manner.

Anuj Sharma, CEO, 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."