PGR.L Regulatory News (PGR)

 30 January 2013

Andes Energia plc

("Andes" or "the Company")

New Warrants

Further to the announcement made on 5 November 2012, the Andes, the Latin American E&P group (AIM: AEN; BCBA: AEN), is pleased to announce that Warrantholders have taken up in full the offer to subscribe for 16,175,998 new warrants ("New Warrants"). The New Warrants have a five-year term with an exercise price of 54 pence per ordinary share.

Nicolas Mallo Huergo, the Chairman of Andes, commented: "We are extremely pleased that this offer has been fully subscribed and is an indication of the continued support of these stakeholders.".

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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.