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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Andes Energia | LSE:AEN | London | Ordinary Share | GB00B7LHJ340 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 49.00 | 48.00 | 50.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMAEN
RNS Number : 5968J
Andes Energia PLC
29 June 2017
29 June 2017
Andes Energia plc
("Andes" or "the Company")
Comment re: media speculation and suspension of shares
Andes Energia (AIM: AEN; BCBA: AEN) notes the recent media speculation and confirms that it is in discussions with another party about a possible transaction which would under the AIM rules consitute a reverse takeover of the Company. As a result, the shares have been suspended until publication of a re-admission document or until discussions end. Shareholders are advised that there can be no certainty that the discussions between the parties will lead to any agreement concerning the possible transaction or as to the timing or terms of any such transaction and there can be no assurance that, even if agreement is reached, any such transaction would be completed. A further update will be provided to shareholders in due course.
Ends
For further information, please contact:
Andes Energia plc Nicolas Mallo Huergo, T: +54 11 Chairman 5530 9920 Billy Clegg, Head of Communications Stockdale Securities Antonio Bossi T: +44 20 David Coaten 7601 6100 Panmure Gordon Adam James T: +44 207 886 2500 Atholl Tweedie Tom Salvesen 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 GBP390m. The Company has its main operations in Argentina and Colombia.
The Company has approximately 21* MMbbls of conventional 2P reserves, and it also has certified prospective resources of 484 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 1,000 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.
*Includes 100% of Interoil's net reserves and production in which Andes has a 26.02% interest
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCEAEKNASEXEFF
(END) Dow Jones Newswires
June 29, 2017 06:52 ET (10:52 GMT)
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