PGR.L Regulatory News (PGR)

16 April 2013

Andes Energia plc

("Andes" or "the Company" or "the Group")

Board Changes

The Board of Andes (AIM: AEN; BCBA: AEN) is pleased to announce, following the completion of the acquisitions of Kilwer S.A. and Ketsal S.A., the following board changes.

BOARD CHANGES

The Company is pleased to announce the appointments to the Board of Alejandro Jotayan as CEO and Alan Stark as Vice President Geoscience with effect from 16 April 2013, with Nicolas Mallo Huergo assuming additional responsibilities as CEO of JV Operations in Argentina.

Mr Alejandro Oscar Jotayan, CEO, aged 40. Alejandro Jotayan is a Industrial Engineer with a Masters Degree in Business administration. He has 18 years of experience in the oil and gas industry in the Americas and Europe. He was Head of Strategy and Business Development of YPF until leaving in 2012. Previously, Alejandro had held several managerial positions in the exploration and production departments of Repsol-YPF working on the commercial development of Vaca Muerta in the Neuquen basin. He had also held managerial positions in commercial analysis, strategic planning and control and shareholder reporting in the Techint Group of Companies (Tenaris, Ternium, Tecpetrol). Alejandro is well recognized in the industry as a professional leader in the conventional and unconventional hydrocarbons business, having comprehensive knowledge and experience in technical, commercial, economic and regulatory aspects.

Mr Nicolas Mallo Huergo, CEO JV Operations in Argentina, aged 42. Nicolás has 20 years experience in the energy markets and has executed many M&A transactions. He has a Law Degree from the Universidad Católica Argentina, and a Master in Law (LLM.) with honors at Northwestern University School of Law, Chicago, U.S.A.

Mr Alan George William Stark, VP Geoscience, aged 57. Mr Stark is a geophysicist with 35 years E&P experience. He holds a BSc in Physical Geology from the University of Exeter and an MBA from the University of Durham. He has worked as a Geoscientist in Argentina for the last 24 years for both local and international companies: Cadipsa, Vintage Petroleum and Occidental. Prior to that he worked in Europe and China.

Leandro Carbone, presently Chief Executive Officer, has stepped down from the Board and Nicolas Mallo Huergo will assume the responsibilities of CEO for the Argentine Joint Venture Operations as well as Chairman.

As a result of these appointments, the Board of Andes comprises:

Nicolas Mallo Huergo (Chairman and CEO JV Operations in Argentina)

Rudolph Berends (Vice Chairman)

Alejandro Jotayan (CEO)

German Ranftl (Chief Financial Officer)

Juan Carlos Esteban (VP E&P)

Alan Stark (VP Geoscience)

Nigel Duxbury (Company Secretary and Non-executive director)

David Jackson (Non-executive director)

Carolina Landi (Non-executive director)

Javier Alvarez (Non-executive director)

Nicolas Mallo Huergo, Chairman of Andes, commented: "We are very happy with the appointment of Alejandro and Alan. Their experience and recognised expertise strengthens Andes's capabilities to face this new stage of its development after the successful consolidation of assets that has occurred in the last 2 months. We have now the assets and the people to become a significant player in the industry. I would like to welcome Alejandro and Alan to the board and also take this opportunity to thank Leandro for his valuable contribution during his tenure."

For further information please contact:

Note to Editors:

Andes is a Latin American oil and gas group, with interests in Argentina, Paraguay and Colombia. The Company's focus is on the oil and gas sector in South America, which offers premium assets at undervalued prices.

Additional information to be disclosed pursuant to Schedule 2(g) and Rule 17 of the AIM Rules:

Other than the information contained within this announcement, there is no further information required to be disclosed under Rule 17 and Schedule Two paragraph (g) of the AIM Rules.