TIDMAEN

RNS Number : 9280B

Andes Energia PLC

07 April 2017

7 April 2017

Andes Energia plc

("Andes" or "the Company")

Exercise of Warrants

The Board of Andes (AIM: AEN; BCBA: AEN) announces that it has received notice from a warrantholder to exercise warrants to subscribe for 32,571 ordinary shares of 10p each (the "Shares") at a price of 26 pence per share. The Shares will rank pari passu with the Company's existing issued ordinary shares.

The Company has received GBP8,468.46 and application will be made for admission of the Shares to trading on AIM and dealings in the Shares are expected to commence at 8.00am on 13 April 2017.

Total Voting Rights

Following Admission of the 32,571 Ordinary Shares, the total number of Ordinary Shares in issue will be 605,537,372. The Company does not hold any Ordinary Shares in treasury. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules

For further information, please contact:

 
 
   Andes Energia plc      Nicolas Mallo Huergo,     T: +54 11 
                          Chairman                  5530 9920 
                          Billy Clegg, Head 
                          of Communications 
 Stockdale Securities   Antonio Bossi             T: +44 20 
                         David Coaten              7601 6100 
 Panmure Gordon         Adam James                T: +44 207 
                                                   886 2500 
                        Atholl Tweedie 
                        Tom Salvesen 
 
 Camarco                Gordon Poole              T: +44 20 
                                                   3757 4980

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 GBP206m. 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 North America, 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.

*Includes 100% of Interoil's net reserves and production in which Andes has a 26.02% interest

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCMMGGDLNRGNZG

(END) Dow Jones Newswires

April 07, 2017 09:30 ET (13:30 GMT)

Andes Energia (LSE:AEN)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Andes Energia Charts.
Andes Energia (LSE:AEN)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Andes Energia Charts.