Andes Energia PLC Exercise of Warrants (8488B)

TIDMAEN

RNS Number : 8488B

Andes Energia PLC

10 March 2014

10 March 2014

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 37,000 ordinary shares of 10p each (the "Shares") at a price of 54 pence per share. The Shares will rank pari passu with the Company's existing issued ordinary shares.

The Company has received GBP19,980 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 14 March 2014.

Total Voting Rights

Following Admission of the 37,000 Ordinary Shares, the total number of Ordinary Shares in issue will be 514,807,468. 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 and Transparency Rules

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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