Andes Energia PLC Result of AGM (2757R)
June 25 2015 - 11:02AM
UK Regulatory
TIDMAEN
RNS Number : 2757R
Andes Energia PLC
25 June 2015
25(th) June 2015
Andes Energia plc
("Andes" or "the Company")
Result of AGM
Andes Energia is pleased to announce that all resolutions put to
shareholders at today's Annual General Meeting were duly
passed.
Ends
For further information please contact:
Andes Energia Nicolas Mallo Huergo, T: +54 11
plc Chairman 4110 5150
Alejandro Jotayan,
CEO T: +44 20
Billy Clegg, Head 3757 4983
of Communications
Macquarie Capital Jon Fitzpatrick T: +44 20
(Europe) Ltd Fergus Marcroft 3037 2000
Nick Stamp
Westhouse Securities Antonio Bossi T: +44 20
David Coaten 7601 6100
GMP Europe LLP Rob Collins T: +44 20
Emily Morris 7647 2800
Camarco Georgia Mann T: +44 20
3757 4986
Qualified Person Review
In accordance with AIM guidance for mining, oil and gas
companies, Mr. Juan Carlos Esteban has reviewed the information
contained in this announcement. Mr. Juan Carlos Esteban, an Officer
of the Group, is a petroleum engineer with over 20 years of
experience and is a member of the SPE (Society of Petroleum
Engineers).
Note to Editors:
Andes Energia is an oil and gas company focussed on onshore
South America with a market capitalisation of circa GBP174m. The
Company has its main operations in Argentina and Colombia.
The Company has 26MMbbls of conventional 2P reserves, and it
also has certified prospective resources of 659MMboe, primarily in
the Vaca Muerta unconventional formation in Argentina and 7.5
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 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 formation.
The Company currently produces 3,300 bbls per day in Argentina
and Colombia from 6 conventional fields in Argentina and 2 in
Colombia, with positive cash flows generated. Andes Energia, with
its partner YPF, has 30 wells planned over the next 12 months..
This information is provided by RNS
The company news service from the London Stock Exchange
END
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