17 Feb 2012 13:04
17 February 2012
Andes Energia plc
("Andes" or "the Company")
EDELAR update
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").
Andes is pleased to announce that it has reached agreement with the vendors to extend the option exercise and acceptance payment date to 31 March 2012.
Enquiries:
Andes Energia | Luis Alvarez Poli, CEO Nigel Duxbury, Finance Director
| T: 020 7495 5326 |
Westhouse Securities | Antonio Bossi
| T: 020 7601 6100 |
Buchanan
| Tim Thompson Ben Romney
| T: 020 7466 5000 |
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.