20 Jun 2017 07:00
20 June 2017
Andes Energia plc
("Andes" or "the Company")
Exercise of Warrants
The Board of Andes (AIM: AEN; BCBA: AEN) announces that it has received notice from a warrantholder to exercise warrants to subscribe for 21,143 ordinary shares of 10p each (the "Shares") at a price of 26 pence per share. The Shares will rank pari passu with the Company's existing issued ordinary shares.
The Company has received £5,497.18 and application will be made for admission of the Shares to trading on AIM and dealings in the Shares are expected to commence at 8.00am on 23 June 2017.
Total Voting Rights
Following Admission of the 21,143 Ordinary Shares, the total number of Ordinary Shares in issue will be 605,558,515. The Company does not hold any Ordinary Shares in treasury. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules
For further information, please contact:
Andes Energia plc |
Nicolas Mallo Huergo, Chairman Billy Clegg, Head of Communications
|
T: +54 11 5530 9920
|
Stockdale Securities | Antonio Bossi David Coaten
| T: +44 20 7601 6100 |
Panmure Gordon | Adam James | T: +44 207 886 2500 |
Atholl Tweedie | ||
Tom Salvesen | ||
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 £340m. The Company has its main operations in Argentina and Colombia.
The Company has approximately 21* MMbbls of conventional 2P reserves, and it also has certified prospective resources of 484 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 1,000 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.
*Includes 100% of Interoil's net reserves and production in which Andes has a 26.02% interest