TIDMAEN

RNS Number : 2143N

Andes Energia PLC

21 October 2016

21 October 2016

Andes Energia plc

("Andes" or "the Company")

Share Price Movement

The Board of Andes (AIM: AEN; BCBA: AEN), the producer and explorer in Argentina and Colombia, notes the recent share price increase and announces that the Company knows of no specific reason for the share price increase.

For further information, please contact:

 
  Andes Energia plc                                              T: +54 11 5530 
                          Nicolas Mallo Huergo, Chairman          9920 
                          Alejandro Jotayan, CEO 
                          Billy Clegg, Head of Communications 
 Stockdale Securities   Antonio Bossi                           T: +44 20 7601 
                         David Coaten                            6100 
 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 GBP95m. 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.

The Company currently produces approximately 3,525* boepd in Argentina and Colombia from six conventional fields in Argentina and two in Colombia, with positive cash flows generated.

*Includes 100% of Interoil's net reserves and production

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

October 21, 2016 10:23 ET (14:23 GMT)

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