Mustang Geothermal has completed the purchase of Andean Geothermic Energy, a Peruvian Corporation which controls four geothermal exploration applications consisting of 3,600 hectares in the provinces of Puno and Arequipa.

The share purchase agreement provides for the company to pay 15 million shares of common stock along with a $25,000 cash payment as per an agreement dated 5 November 2010.

As a part of an ongoing reorganization of the company’s business activity, the decision to diversify internationally into the geothermal energy field is aligned with the Mustang’s long-term strategy to add shareholder value.

Mustang is a geothermal exploration and development company that is in the business of discovering geothermal energy resources and building renewable energy electrical power plants.