TIDMAEN

RNS Number : 2078F

Andes Energia PLC

18 February 2015

18 February 2015

Andes Energia plc

("Andes" or "the Company")

Mandatory Offer - Interoil Exploration and Production ASA

On 20 January 2015, the Company announced that it had assumed an obligation to launch a mandatory offer within four weeks for the existing shares in Interoil Exploration and Production ASA ("IOX") at NOK 0.11 per IOX share.

Further to that announcement, Andes is pleased to announce that the offer document published in connection with the mandatory offer has been reviewed and approved by Oslo Børs in accordance with Section 6-14 of the Norwegian Securities Trading Act and is being made available to shareholders of IOX today.

For further information please contact:

 
 Andes Energiaplc             Nicolas MalloHuergo, Chairman          T: +54 11 4110 
                               Alejandro Jotayan, CEO                 5150 
                               Billy Clegg, Head of Communications 
                                                                      T: +44 20 3757 
                                                                      4983 
 Macquarie Capital (Europe)   Jon Fitzpatrick                        T: +44 20 3037 
  Ltd                          Fergus Marcroft                        2000 
                               Nick Stamp 
 Westhouse Securities         Antonio Bossi                          T: +44 20 7601 
                               David Coaten                           6100 
 GMP Europe LLP               Rob Collins                            T: +44 20 7647 
                               Emily Morris                           2800 
 Camarco                      Georgia Mann                           T: +44 20 3757 
                                                                      4986

Note to Editors:

Andes Energia is an oil and gas company focussed on onshore South America with a market capitalisation of circa GBP150 million. The Company has operations in Argentina, Colombia, Brazil and Paraguay, representing three of the largest economies and three of the four largest oil producing nations in South America.

The Company has 25.5MMbbls of conventional 2P reserves in Argentina and Colombia and certified resources of 600MMBoe in Argentina, primarily in the Vaca Muerta unconventional formation and 7.75 million acres across South America.

The Company has approximately 2 million net acres in unconventional plays including 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. Over 250 wells have already been drilled and fracked in the Vaca Muerta formation.

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

The Company currently produces 3,200 bbls per day from 7 conventional fields in Argentina and 2 conventional fields in Colombia, generating positive cash flow. Andes Energia, with its partner YPF, has 30 wells planned over the next 12 months, which are funded by field production cash flow.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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