History

Phoenix Global Resources was created by the combination of Andes Energia Plc and Petrolera El Trébol S.A. (“PETSA”), the operating company for the oil and gas exploration and production business of Mercuria Energy Group Limited in Argentina.

Andes Energia joined AIM in September 2007 when Ragusa Capital plc acquired certain utility and oil and gas exploration assets in South America, including Integra Oil and Andes Oil. In July 2012, the utility assets within Andes Energia were demerged into a separate company called Andina, making Andes Energia a pure play oil and gas exploration company.

With over 18.8 million boe net working interest 2P reserves as of December 2020 and production of 4,549 net working interest boepd on average in 2020, the combination of Andes Energia and PETSA created a company with the scale to realise Argentine potential using a balanced portfolio of existing production and near-term production growth potential.