TIDMAEN

Andes Energia PLC

24 November 2015

24 November 2015

ANDES ENERGIA PLC

("Andes" or the "Company")

(AIM: AEN; BCBA: AEN)

Statement re: Argentina's presidential election

The Board of Andes Energia celebrates the democratic elections in Argentina and welcomes Mauricio Macri to office as the newly appointed President of Argentina.

The Board is confident Mauricio Macri's pro-business policies and administration will benefit the Argentinian oil and gas industry, and will attract foreign capital into the country and therefore into Argentina's important Vaca Muerta shale deposit, where Wood Mackenzie is expecting a doubling of production by 2018 and where Andes Energia has 250,000 net acres.

Ends

Enquiries:

 
 
   Andes Energia                Nicolas Mallo Huergo,     T: +54 11 4110 
   plc                          Chairman                  5150 
                                Alejandro Jotayan, 
                                CEO                       T: +44 20 3757 
                                Billy Clegg, Head         4983 
                                of Communications 
 Joint brokers; 
  Westhouse Securities          Antonio Bossi             T: +44 20 7601 
                                David Coaten              6100 
 GMP Europe LLP               Rob Collins               T: +44 20 7647 
                               Emily Morris              2800 
 Macquarie Capital            Jon Fitzpatrick           T: +44 20 3037 
  (Europe) Ltd                 Fergus Marcroft           2000 
                               Guy de Freitas 
 
 
  Corporate communications:    Georgia Mann 
  Camarco                                                T: +44 20 3757 
                                                         4986

Note to Editors:

Andes Energia plc is an oil and gas exploration and production company focused on onshore assets in South America with a market capitalisation of circa GBP132m. The Company has its main operations in Argentina and Colombia.

The Company has approximately 25 MMbbls of conventional 2P reserves, and it also has certified prospective resources of 640 MMboe, primarily in the Vaca Muerta unconventional development in Argentina and over 7.5 million acres across South America.

The Company has approximately 250,000 net acres in the Vaca Muerta formation, which is the second largest shale oil deposit in the world and the only producing shale oil deposit outside of the USA, currently producing 45,000 boepd. Over 300 wells have already been drilled and fracked in the Vaca Muerta formation.

Andes is the only AIM quoted company on the London Stock Exchange with exposure to the Vaca Muerta shale.

The Company currently produces approximately 3,200 boepd in Argentina and Colombia from 6 conventional fields in Argentina and 2 in Colombia, with positive cash flows generated.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

November 24, 2015 02:02 ET (07:02 GMT)

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