The Board of Andes announce a light oil discovery in the Mirador del Valle x-1 exploration well on the El Manzano West block in the Neuquen basin, South Mendoza Province.

Highlights:

◾ Mirador del Valle x-1 exploration well: 15 million barrels conventional light oil discovery in the Neuquen Group ◾ 15 million barrels of resources, 6 million barrels net to Andes ◾ 535 bopd production test, 214 bopd net to Andes ◾ Vaca Muerta formation lies 1,000 meters below the Neuquen Group formation and is the source rock to this discovery, de-risking the Vaca Muerta oil shale play ◾ A futher exploration well planned through the Neuquen Group formation and into the Vaca Muerta formation, exposing shareholders to both conventional and shale oil plays (Andes fully carried)

Tags: Andes Energia