8 Jan 2015 07:00
8 January 2015
Andes Energia plc
("Andes" or "the Company")
Investor Conference Call
Further to the announcement on 23 December 2014, the Board of Andes (AIM: AEN; BCBA: AEN) is pleased to announce that a conference call on the potential investment in Interoil Exploration and Production ASA ("Interoil") will be held on Thursday 15 January 2015 at 1.00 p.m. (GMT).
Participants to the call will include Alejandro Jotayan, Chief Executive Officer of Andes, Leif Chr. Salomonsen, Chairman of the Board of Interoil and Thomas Fjell, Chief Executive Officer of Interoil.
A brief introduction on the transaction based on the material that was made available on 23 December 2014 will be provided. Questions may thereafter be asked either in English or Norwegian.
Participants should dial in and register 5-10 minutes prior to the scheduled start time using the phone numbers and confirmation code below:
Oslo, Norway: +47 2316 2729 (International/local) or 800 56053 (Toll free)
New York, USA: +1 212 444 0412 (International/local) or 1877 280 2342 (Toll free)
London, UK: +44 (0) 20 3427 1905 (International/local) or 0800 279 4992 (Toll free)
Colombia: 01800 915 7431 (Toll free)
Argentina: 0800 444 0499 (Toll free)
Confirmation Code: 5298902
The private placement and restructuring are subject to Interoil bondholder and shareholder approval and meetings for the bondholders and shareholders have now been convened and are to be held on 20 January 2015 at 8.00 a.m. (GMT) and 12.00 p.m. (GMT) respectively.
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 Nick Stamp
| 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:
Andes Energia is an oil and gas company focussed on onshore South America with a market capitalisation of circa £183m. The Company has operations in Argentina, Colombia, Brazil and Paraguay, representing three of the largest economies and three of the four largest oil producing nations in South America.
The Company has 20MMbbls of conventional 2P reserves in Argentina and certified resources of 600MMBoe, primarily in the Vaca Muerta unconventional formation in Argentina and 7.5 million acres across South America.
The Company has approximately 2 million net acres in unconventional plays including 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 the USA. Over 250 wells have already been drilled and fracked in the Vaca Muerta formation.
Andes is the only AIM company on the London Stock Exchange with exposure to Vaca Muerta.
The Company currently produces 1,700 bbls per day in Argentina from 7 conventional fields, generating positive cash flow. Andes Energia, with its partner YPF, has 30 wells planned over the next 12 months, which are funded by the field production cash flow.
Note to Editors - Interoil:
Interoil Exploration and Production ASA is a Norwegian based exploration and production company listed on the Oslo Stock Exchange with focus on Latin America. The company operates four production and exploration licences in Colombia. Interoil currently employs approximately 95 people and is headquartered in Oslo.