StockMarketWire.com - Phoenix Global Resources said it had fished drilling a second horizontal appraisal well at Mata Mora in Argentina, while reporting a fall in first-quarter revenue.

Both wells were unconventionally completed during May in a simultaneous completion operation.

Flowback of the wells was to commence mid-June 2019 with results expected during the third quarter.

Revenue for the three months through March fell to $32.1m, down from $40.9m after oil prices fell.

Up to eight additional unconventional wells were planned at the Puesto Rojas area in 2019.


At 8:19am: [LON:PGR] Phoenix Global Resources PLC share price was +1p at 22.75p



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