Andes Energia PLC Appointment of Joint Broker (8486B)

TIDMAEN

RNS Number : 8486B

Andes Energia PLC

10 March 2014

10 March 2014

Andes Energia plc

("Andes" or "the Company")

Appointment of Joint Broker

The Board of Andes (AIM: AEN; BCBA: AEN) is pleased to announce that GMP Securities Europe LLP ("GMP") has been appointed as Joint Broker to the Company alongside Westhouse Securities Limited. The appointment is with immediate effect.

Alejandro Jotayan, CEO of the Company, commented: "GMP has a strong presence in the natural resources sector and complements Westhouse very well and gives us access to new equity markets as well as advice across the balance sheet. Given Andes's increase in scale and reach, this is important in pursuing the next stage of our growth."

For further information please contact:

 
 Andes Energia plc      Nicolas Mallo Huergo, Chairman         T: [phone] 
                         Alejandro Jotayan, CEO 
                         Billy Clegg, Head of Communications    T: [phone] 
 Westhouse Securities   Antonio Bossi                          T: [phone] 
                         David Coaten 
 GMP Europe LLP         Rob Collins                            T: [phone] 
                         Liz Williamson 
 Buchanan               Tim Thompson                           T: [phone] 
                         Ben Romney 
 

Note to Editors:

Andes Energia is an oil and gas company focussed on onshore South America with a market capitalisation of circa GBP335m. 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 20MMbbls of conventional 2P reserves in Argentina and certified resources of 600MMBoe, primarily in the Vaca Muerta unconventional formation in Argentina and 7.5million acres across South America.

The Company has approximately 2 million net acres in unconventional plays including 213,000 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 1,400 bbls per day in Argentina from 7 conventional fields, with positive cash flows generated. Andes Energia, with its partner YPF, has 30 wells planned over the next 12 months, which are fully funded by the field production cash flow.

This information is provided by RNS

The company news service from the London Stock Exchange

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