PGR.L Regulatory News (PGR)

Andes Energia plc

("Andes" or "the Company")

Acquisition of interests in Oil & Gas licences

On 25 March 2011 Andes (AIM: AEN; BCBA: AEN), the Latin American energy group, announced the conditional acquisition of a 24 per cent. working interest in the Vega Grande licence and the conditional acquisition of its joint venture partner's interest in seven other exploration blocks (the "Conditional Transactions"). It also announced the exercise of an option over a further 10 per cent. interest in Vega Grande and the extension and entering into new option agreements on this and other blocks.

The Conditional Transactions were subject to, among other things, the allotment and admission to trading on AIM of 10,250,000 new Andes ordinary shares ("Admission") to satisfy the consideration payable for the acquisition of the interest in the Vega Grande licence. Andes is pleased to announce that with Admission occurring this morning all conditions have been satisfied and the Conditional Transactions have therefore completed.

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Note to Editors:

Andes is a Latin American energy group, with electricity distribution, hydro-electric power and oil and gas interests in Argentina. The Company's focus is on the Argentinean energy sector, which it believes offers premium assets at undervalued prices.