PGR.L Regulatory News (PGR)

26 Oct 2007 17:47

Andes Energia PLC26 October 2007 26 October 2007 Andes Energia plc ("Andes" or "the Company") Extension of SODEMSA option As announced on 7 September 2007, Andes has the option to acquire a further 50per cent. indirect interest in SODEM S.A, which has a 51 per cent. controllinginterest in Empresa Distribuidora de Electricidad de Mendoza S.A, the mainelectricity distribution company in the Province of Mendoza. Andes is pleased to announce that it has reached agreement with the vendors toextend the option from 31 October 2007 to 31 January 2008. Andes has agreed to pay the vendors, by 30 October 2007, US$ 3,000,000, whichwill be considered a payment on account of the total consideration due on theexercise of the option. Enquiries: Andes Energia plc Michael Stevens, Executive T: 020 7495 5326 Chairman Nigel Duxbury, Finance Director Arbuthnot Securities James Steel T: 020 7012 2000 Antonio Bossi Bishopsgate Communications Maxine Barnes T: 020 7562 3350Limited Nick Rome This information is provided by RNS The company news service from the London Stock Exchange