PGR.L Regulatory News (PGR)

1 March 2016

Andes Energia plc

("Andes" or "the Company")

Debt Facility

Further to the announcement on 5 January 2016, the Board of Andes (AIM: AEN; BCBA: AEN) announces that pursuant to the debt facility with Macquarie Corporate Holdings Pty Limited (formerly Macquarie Capital Group Limited) Andes has repaid in full the outstanding principal and accrued interest.

Ends

For further information please contact:

Andes Energia plc Nicola Mallo Huergo, Chairman T: +54 11 4110 5150

Alejandro Jotayan, CEO Billy Clegg, Head of Communications

Macquarie Capital (Europe) Jon Fitzpatrick T: +44 20 3757 2000

Fergus Marcroft

Guy de Freitas

Stockdale Securities Antonio Bossi T: +44 20 7601 6100

David Coaten

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 £100m. 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 3,300* 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