Andes Energia PLC Media speculation and suspension of shares (5968J)
June 29 2017 - 6:52AM
UK Regulatory
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
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