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11 Apr 2012 08:51
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11 April 2012
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Andes Energia plc
("Andes" or "the Company")
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EDELAR update
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On 22 September 2011 the Board of Andes (AIM: AEN; BCBA: AEN), the Latin American energy group, announced that it had entered into an option agreement to acquire a 78.44% indirect interest in the electricity distribution company Empresa Distribuidora de Electridad de La Rioja S.A. ("EDELAR").
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Andes is pleased to announce that it has reached agreement with the vendors to extend the option exercise and acceptance payment date to 30 June 2012.
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Enquiries:
Andes Energia | Luis Alvarez Poli, CEO Nigel Duxbury, Finance Director Β | T: 020 7495 5326 |
Westhouse Securities | Antonio Bossi Β | T: 020 7601 6100 |
Buchanan Β | Tim Thompson Ben Romney Β | T: 020 7466 5000 |
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Note to Editors:
Andes is a Latin American energy group, with oil and gas, electricity distribution and hydro-electric power interests in Argentina. The Company's focus is on the Argentinean energy sector, which it believes offers premium assets at undervalued prices.
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