Andes Energia PLC Result of AGM (2757R)

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

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