Andes Energia PLC Exercise of Warrants (8488B)
March 10 2014 - 3:01AM
UK Regulatory
TIDMAEN
RNS Number : 8488B
Andes Energia PLC
10 March 2014
10 March 2014
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 37,000 ordinary shares of 10p each (the "Shares") at
a price of 54 pence per share. The Shares will rank pari passu with
the Company's existing issued ordinary shares.
The Company has received GBP19,980 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 14 March 2014.
Total Voting Rights
Following Admission of the 37,000 Ordinary Shares, the total
number of Ordinary Shares in issue will be 514,807,468. 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 and Transparency Rules
For further information please contact:
Andes Energia plc Nicolas Mallo Huergo, Chairman T: +541141105150
Alejandro Jotayan, CEO
Billy Clegg, Head of Communications T: +442079691828
Westhouse Securities Antonio Bossi T: +442076016100
David Coaten
GMP Europe LLP Rob Collins T: +442076472800
Liz Williamson
Buchanan Tim Thompson T: +442074665000
Ben Romney
Note to Editors:
Andes Energia is an oil and gas company focussed on onshore
South America with a market capitalisation of circa GBP335m. 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 7.5million
acres across South America.
The Company has approximately 2 million net acres in
unconventional plays including 213,000 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 1,400 bbls per day in Argentina
from 7 conventional fields, with positive cash flows generated.
Andes Energia, with its partner YPF, has 30 wells planned over the
next 12 months, which are fully funded by the field production cash
flow.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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