Argentina's presidential election

 24 November 2015

ANDES ENERGIA PLC

("Andes" or the "Company")

(AIM: AEN; BCBA: AEN)

Statement re: Argentina's presidential election

The Board of Andes Energia celebrates the democratic elections in Argentina and welcomes Mauricio Macri to office as the newly appointed President of Argentina.

The Board is confident Mauricio Macri's pro-business policies and administration will benefit the Argentinian oil and gas industry, and will attract foreign capital into the country and therefore into Argentina's important Vaca Muerta shale deposit, where Wood Mackenzie is expecting a doubling of production by 2018 and where Andes Energia has 250,000 net acres.

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Note to Editors:

Andes Energia plc is an oil and gas exploration and production company focused on onshore assets in South America with a market capitalisation of circa £132m. The Company has its main operations in Argentina and Colombia.

The Company has approximately 25 MMbbls of conventional 2P reserves, and it also has certified prospective resources of 640 MMboe, primarily in the Vaca Muerta unconventional development in Argentina and over 7.5 million acres across South America.

The Company has approximately 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, currently producing 45,000 boepd. Over 300 wells have already been drilled and fracked in the Vaca Muerta formation.

Andes is the only AIM quoted company on the London Stock Exchange with exposure to the Vaca Muerta shale.

The Company currently produces approximately 3,200 boepd in Argentina and Colombia from 6 conventional fields in Argentina and 2 in Colombia, with positive cash flows generated.