13th May 2016 07:31
LONDON (Alliance News) - Oil and gas exploration company Andes Energia PLC on Friday said it achieved a lower oil production in April 2016 than in both February and March.
Andes said its total production in April was 3,532 barrels of oil per day, against 3,567 barrels in March and 3,538 barrels in February.
It secured 2,388 barrels per day net from its licences in Argentina, up from 2,316 barrels in February, and 1,144 barrels from its Colombian licences, down from 1,222 barrels in January.
Andes said it will be posting its full year results within the next two weeks, in which its revenue, gross profit and earnings before interest, tax, depreciation and amortisation are in line with management's expectations.
Shares in Andes were untraded on Friday, having last traded at 19.39 pence.
By Hannah Boland; [email protected]; @Hannaheboland
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