PHOENIX GLOBAL RESOURCES PLC (LON:PGR)

Phoenix Global Resources plc is a UK-based upstream oil and gas company that focuses on onshore blocks in the South American region covering Argentina, Colombia and Paraguay. It was founded in the year 2004 and its headquarters are situated in London, United Kingdom. It is listed and traded on the Alternative Investment Market of the London Stock Exchange as well as on the Buenos Aires Stock Exchange. The subsidiaries of Phoenix Global Resources plc include Andes Energia Argentina S.A., Petrolera El Trebol SA, Grecoil y Cia. S.A., MGM International S.R.L., Hidroelectrica del Sur S.A., and Andes Oil and Gas S.A etc.

The company produces, develops, and explores oil and gas assets. The Vaca Muerta in Argentina is the only shale oil producing formation outside North America, and the company gives the investors an opportunity to directly invest in these unconventional assets. The Vaca Muetra formation mainly in the Neuquen Province, has been able to attract major oil and gas producers, including BP, Chevron, Quatar, Equinor, Petronas etc. The total unconventional acreage of Phoenix Global Resources has been proven as net 18.8 MMboe, and the average potential reserves are expected to be around 4,549 boepd of production, as per the 2020 available data. The ultimate goal of the company is to unravel the potential of oil and gas assets in Argentina to enhance its overall production of resources as well as to increase its reserves. The company aims at building a high quality portfolio of assets, including unconventional assets, to maximize the risk adjusted returns for its shareholders. The company gives key priority to production opportunities in Argentina as it has the second largest reserves of shale as and fourth largest reserves of shale oil across the globe. Most of these reserves can be found in the Vaca Muerta formation alone.

Phoenix Global Resources plc follows a well-defined framework of corporate governance and aligns itself with the Quoted Companies Alliance (QCA) Corporate Governance Code. The board of the company has set up separate committees for audit, remuneration, and nomination. It has an ethical code of conduct for running its business operations and promotes a culture of trust, transparency, and accountability. Apart from fulfilling all its corporate responsibilities, the company also fulfils its environmental and social responsibilities. It has a comprehensive Corporate Social Responsibility (CSR) framework in place and complies with international best practices and guidelines to create a sustainable business. It aims to minimize the impact of its business activities on the environment and create long-term value for the business as well as the wider community. It gives high priority to ensure that its exploration and production activities are carried out in a safe and environmental friendly manner. It strictly follows its Stop Work Authority Policy and the Operational Excellence Policy to comply with the health and safety standards for its employees and contractors, and for the protection of environment and interests of local communities.