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5 Jan 2016 07:00
5 January 2016
Andes Energia plc
("Andes" or "the Company" or "the Group")
Debt Facility
Andes (AIM: AEN; BCBA: AEN) announces that it has agreed with Macquarie Corporate Holdings Pty Limited (formerly Macquarie Capital Group Limited) an amended repayment schedule for the US$5,000,000 debt facility announced on 11 December 2014. Pursuant to the amended schedule Andes yesterday repaid US$1,537,722.62 (US$1,000,000 of principal plus US$537,722.62 of accrued interest), with the remaining principal of US$4,000,000 plus accrued interest to be repaid on 29 February 2016.
For further information please contact:
Andes Energia plc |
Nicolas Mallo Huergo, Chairman Alejandro Jotayan, CEO Billy Clegg, Head of Communications
|
T: +54 11 4110 5150
T: +44 20 3757 4983 |
Macquarie Capital (Europe) Ltd | Jon Fitzpatrick Fergus Marcroft Guy de Freitas
| T: +44 20 3037 2000 |
Westhouse Securities | Antonio Bossi David Coaten
| T: +44 20 7601 6100 |
GMP Europe LLP | Rob Collins Emily Morris
| T: +44 20 7647 2800 |
Camarco | Georgia Mann
| T: +44 20 3757 4986 |
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 £110m. 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 3,200* boepd in Argentina and Colombia from 6 conventional fields in Argentina and 2 in Colombia, with positive cash flows generated.
*Includes 100% of Interoil's net reserves and production
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