1 March 2016

Andes Energia plc

("Andes" or "the Company")

Further to the announcement on 5 January 2016, the Board of Andes (AIM: AEN; BCBA: AEN) announces that pursuant to the debt facility with Macquarie Corporate Holdings Pty Limited (formerly Macquarie Capital Group Limited) Andes has repaid in full the outstanding principal and accrued interest.

Ends

For further information please contact:

Andes Energia plc                    Nicola Mallo Huergo, Chairman             T: +54 11 4110 5150

                                               Alejandro Jotayan, CEO
                                               Billy Clegg, Head of Communications    

Macquarie Capital (Europe)      Jon Fitzpatrick                                      T: +44 20 3757 2000

                                               Fergus Marcroft

                                               Guy de Freitas

Stockdale Securities                 Antonio Bossi                                       T: +44 20 7601 6100

                                               David Coaten

Camarco                                 Gordon Poole                                        T: +44 20 3757 4980

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 £100m. 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 North America, 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 3,300* boepd in Argentina and Colombia from six conventional fields in Argentina and two in Colombia, with positive cash flows generated.

*Includes 100% of Interoil's net reserves and production