Phoenix Global Resources Disposes Of Eight Colombian Licences

LONDON (Alliance News) - Phoenix Global Resources PLC said Friday it has sold its 70% interest in ...

Alliance News 9 November, 2018 | 2:23PM
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LONDON (Alliance News) - Phoenix Global Resources PLC said Friday it has sold its 70% interest in eight Colombian licenses, in line with its strategy to focus solely on Argentina.

The company, which focuses on Argentina's Vaca Muerta shale formation and other unconventional resources, also expects to relinquish the remaining three licences in Colombia, in which it has a 70% interest, within the next few months.

Phoenix Global shares were trading up 7.5% at 20.90 pence each on Friday.

By Elena Cherubini; elenacherubini@alliancenews.com

Copyright 2018 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
Phoenix Global Resources PLC 17.75 GBX 1.43 -
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