The Board of Andes is pleased to provide an update on current production at a Group level based on the April and March 2016 sales and production reports.
Group production for April 2016 was 3,532* boepd (March 2016: 3,567* boepd; February 2016: 3,538* boepd).
Argentine licences production update for the month of April 2016:
• In Chachahuen, Chanares Herrados, Puesto Pozo Cercado, Vega Grande, La Brea and El Manzano average production was 2,388 bpd net to Andes
Colombian licences production update for the month of April 2016:
• In Mana and Altair average production was 1,144* boepd (59% Oil) net to Interoil, in which Andes holds a 26% interest
The Group’s results for the year ending 31 December 2015 are expected to be released within the next 2 weeks and revenue, gross profit and EBITDA are in line with management’s expectations.
