TIDMAEN

RNS Number : 3887R

Andes Energia PLC

09 December 2016

9 December 2016

Andes Energia plc

("Andes" or "the Company")

Appointment of Joint Broker

The Board of Andes (AIM: AEN; BCBA: AEN) is pleased to announce that Panmure Gordon (UK) Limited ("Panmure") has been appointed as Joint Broker and Joint Financial Adviser to the Company alongside Stockdale Securities Limited. The appointment is with immediate effect.

Nicolas Mallo Huergo, Chairman of the Company, commented: "Panmure has a strong presence in the natural resources sector and complements Stockdale very well and we look forward to working with our advisers in pursuing the next stage of our growth."

For further information please contact:

 
 
   Andes Energia          Nicolas Mallo Huergo,     T: +541155309920 
   plc                    Chairman 
                          Alejandro Jotayan, 
                          CEO 
 
                          Billy Clegg, Head 
                          of Communications 
 Stockdale Securities   Antonio Bossi             T: +442076016100 
                         David Coaten 
 Panmure Gordon         Adam James                T: +442078862950 
                         Atholl Tweedie 
                         Tom Salvesen

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 GBP130m. 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 3,500* 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

APPLLFEAFALTIIR

(END) Dow Jones Newswires

December 09, 2016 02:00 ET (07:00 GMT)

Andes Energia (LSE:AEN)
Historical Stock Chart
From Oct 2024 to Nov 2024 Click Here for more Andes Energia Charts.
Andes Energia (LSE:AEN)
Historical Stock Chart
From Nov 2023 to Nov 2024 Click Here for more Andes Energia Charts.