<SEC-DOCUMENT>0000893838-16-000103.txt : 20160318
<SEC-HEADER>0000893838-16-000103.hdr.sgml : 20160318
<ACCEPTANCE-DATETIME>20160318153356
ACCESSION NUMBER:		0000893838-16-000103
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20160318
FILED AS OF DATE:		20160318
DATE AS OF CHANGE:		20160318

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			YPF SOCIEDAD ANONIMA
		CENTRAL INDEX KEY:			0000904851
		STANDARD INDUSTRIAL CLASSIFICATION:	PETROLEUM REFINING [2911]
		IRS NUMBER:				521612271
		STATE OF INCORPORATION:			C1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12102
		FILM NUMBER:		161515955

	BUSINESS ADDRESS:	
		STREET 1:		AVENIDA PTE R SAENZ 777-8 PISO
		CITY:			BUENOS AIRES 1364 AR
		STATE:			C1
		BUSINESS PHONE:		5413267265

	MAIL ADDRESS:	
		STREET 1:		AVENIDA PTE R SAENZ 777-8 PISO
		CITY:			BUENOS AIRES
		STATE:			C1
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>ypf6k03172016.htm
<DESCRIPTION>LETTER DATED MARCH 17, 2016
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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Arial; MARGIN-LEFT: 0pt; FONT-SIZE: 12pt; FONT-WEIGHT: bold; MARGIN-RIGHT: 0pt">FORM 6-K</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Arial; MARGIN-LEFT: 0pt; FONT-SIZE: 12pt; FONT-WEIGHT: bold; MARGIN-RIGHT: 0pt">SECURITIES AND EXCHANGE COMMISSION</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Arial; MARGIN-LEFT: 0pt; FONT-SIZE: 12pt; FONT-WEIGHT: bold; MARGIN-RIGHT: 0pt">Washington, D.C. 20549</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Arial; MARGIN-LEFT: 0pt; FONT-SIZE: 12pt; FONT-WEIGHT: bold; MARGIN-RIGHT: 0pt">Report of Foreign Issuer</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Arial; MARGIN-LEFT: 0pt; FONT-SIZE: 12pt; FONT-WEIGHT: bold; MARGIN-RIGHT: 0pt">Pursuant to Rule 13a-16 or 15d-16 of</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Arial; MARGIN-LEFT: 0pt; FONT-SIZE: 12pt; FONT-WEIGHT: bold; MARGIN-RIGHT: 0pt">the Securities Exchange Act of 1934</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Arial; MARGIN-LEFT: 0pt; FONT-SIZE: 12pt; MARGIN-RIGHT: 0pt">For the month of March, 2016</div>

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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Arial; MARGIN-LEFT: 0pt; FONT-SIZE: 12pt; MARGIN-RIGHT: 0pt">Commission File Number: 001-12102</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">&#160;<font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 12pt; FONT-WEIGHT: bold">YPF Sociedad An&#243;nima</font></div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Arial; MARGIN-LEFT: 0pt; FONT-SIZE: 12pt; MARGIN-RIGHT: 0pt">(Exact name of registrant as specified in its charter)</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">&#160;&#160;<font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 12pt; FONT-WEIGHT: bold">Macacha G&#252;emes 515</font></div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Arial; MARGIN-LEFT: 0pt; FONT-SIZE: 12pt; FONT-WEIGHT: bold; MARGIN-RIGHT: 0pt">C1106BKK Buenos Aires, Argentina</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Arial; MARGIN-LEFT: 0pt; FONT-SIZE: 12pt; MARGIN-RIGHT: 0pt">(Address of principal executive office)</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"></div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Arial; MARGIN-LEFT: 0pt; FONT-SIZE: 12pt; MARGIN-RIGHT: 0pt">Indicate by check mark whether the registrant files or will file</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Arial; MARGIN-LEFT: 0pt; FONT-SIZE: 12pt; MARGIN-RIGHT: 0pt">annual reports under cover of Form 20-F or Form 40-F:</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Arial; MARGIN-LEFT: 0pt; FONT-SIZE: 12pt; MARGIN-RIGHT: 0pt">&#160;</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: arial; MARGIN-LEFT: 0pt; FONT-SIZE: 12pt; MARGIN-RIGHT: 0pt">Form 20-F</div>
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<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: arial; MARGIN-LEFT: 0pt; FONT-SIZE: 12pt; MARGIN-RIGHT: 0pt">Form 40-F</div>
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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Arial; MARGIN-LEFT: 0pt; FONT-SIZE: 12pt; MARGIN-RIGHT: 0pt">Indicate by check mark if the registrant is submitting the Form 6-K</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Arial; MARGIN-LEFT: 0pt; FONT-SIZE: 12pt; MARGIN-RIGHT: 0pt">in paper as permitted by Regulation S-T Rule 101(b)(1):</div>

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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Arial; MARGIN-LEFT: 0pt; FONT-SIZE: 12pt; MARGIN-RIGHT: 0pt">Indicate by check mark if the registrant is submitting the Form 6-K</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Arial; MARGIN-LEFT: 0pt; FONT-SIZE: 12pt; MARGIN-RIGHT: 0pt"></div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Arial; MARGIN-LEFT: 0pt; FONT-SIZE: 12pt; MARGIN-RIGHT: 0pt">in paper as permitted by Regulation S-T Rule 101(b)(7):</div>

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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 0pt; FONT-SIZE: 12pt; MARGIN-RIGHT: 0pt">TABLE OF CONTENTS</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 0pt; FONT-SIZE: 12pt; MARGIN-RIGHT: 0pt">1&#160;&#160;&#160; Translation of letter to the Buenos Aires Stock Exchange dated March 17, 2016</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><img src="ypflogo_new.jpg"></div>

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<div style="TEXT-ALIGN: right; FONT-VARIANT: normal; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 0pt; FONT-SIZE: small; MARGIN-RIGHT: 0pt"></div>

<div style="TEXT-ALIGN: right; FONT-VARIANT: normal; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 0pt; FONT-SIZE: small; MARGIN-RIGHT: 0pt"></div>

<div style="TEXT-ALIGN: right; FONT-VARIANT: normal; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 0pt; FONT-SIZE: small; MARGIN-RIGHT: 0pt">Autonomous City of Buenos Aires, March 17, 2016</div>

<div style="FONT-VARIANT: normal; TEXT-INDENT: 0pt; DISPLAY: block; FONT-SIZE: small"><br>
</div>

<div style="TEXT-ALIGN: left; FONT-VARIANT: normal; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 0pt; FONT-SIZE: small; MARGIN-RIGHT: 0pt">To the</div>

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<div style="TEXT-ALIGN: left; FONT-VARIANT: normal; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 0pt; FONT-SIZE: small; MARGIN-RIGHT: 0pt">(Buenos Aires Stock Exchange)</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
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<table style="WIDTH: 100%; FONT-FAMILY: times new roman; FONT-SIZE: 10pt" id="68cdad568bfd4f7590827ae88269acc6" border="0" cellspacing="0" cellpadding="0" align="center">
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<div style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; TEXT-DECORATION: underline">Re</font>:&#160;&#160;<font style="FONT-VARIANT: normal; FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: small; FONT-WEIGHT: normal">Agreement with Chevron&#160;</font></div>
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<div style="TEXT-ALIGN: justify; FONT-VARIANT: normal; FONT-STYLE: normal; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: 'Times New Roman'; MARGIN-LEFT: 0pt; FONT-SIZE: small; MARGIN-RIGHT: 0pt">Dear Sirs:</div>

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<div style="TEXT-ALIGN: justify; FONT-VARIANT: normal; FONT-STYLE: normal; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: small; FONT-WEIGHT: normal; MARGIN-RIGHT: 0.9pt">
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<div style="TEXT-ALIGN: left; FONT-VARIANT: normal; FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: small; FONT-WEIGHT: normal">The purpose of this letter is to comply with the requirements of Article 23 of Chapter VII of the Buenos Aires Stock Exchange Regulations.</div>

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<div style="TEXT-ALIGN: justify; FONT-VARIANT: normal; FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: small; FONT-WEIGHT: normal">In that connection, please find attached a press release regarding the referenced subject.</div>
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<div style="TEXT-ALIGN: left; FONT-VARIANT: normal; FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: small">Yours faithfully,</div>
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 YPF S.A.</div>

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<div style="TEXT-ALIGN: center; FONT-VARIANT: normal; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 10pt; FONT-SIZE: small; FONT-WEIGHT: normal">PRESS RELEASE</div>

<div style="TEXT-ALIGN: right; FONT-VARIANT: normal; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 10pt; FONT-SIZE: small; FONT-WEIGHT: normal">Buenos Aires, March 16, 2016</div>

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<div style="TEXT-ALIGN: justify; FONT-VARIANT: normal; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 10pt; FONT-SIZE: small; FONT-WEIGHT: normal">YPF reports that, based on the review by and the decision of its new Board of Directors, and in order to safeguard the public interest and the interest of its shareholders (both public and private), it has decided to appeal the decision issued by Federal Administrative Court No. 7 under which YPF was ordered to disclose its agreement with Chevron.</div>

<div style="TEXT-ALIGN: justify; FONT-VARIANT: normal; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 10pt; FONT-SIZE: small; FONT-WEIGHT: normal">The decision of the Court did not take into account the request for a hearing submitted by YPF, and it did not establish safeguards to avoid the dissemination of information of clear geological, commercial, technical and industrial value to unrelated third parties (competitor companies and other parties). The absence of those safeguards contemplated by the "Access to Public Information" regulations places YPF at a competitive disadvantage with adverse consequences for the development of Loma Campana and future projects of the company.</div>

<div style="TEXT-ALIGN: justify; FONT-VARIANT: normal; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 10pt; FONT-SIZE: small; FONT-WEIGHT: normal">It is worth noting that the execution of the agreement was made public through a notice sent by YPF to the Argentine National Securities Commission (<font style="FONT-STYLE: italic">Comisi&#243;n Nacional de Valores</font>) on July 16, 2013 in accordance with current laws and regulations applicable to companies subject to public offering regulations. Likewise, it has filed all required communications with the U.S. Securities and Exchange Commission. YPF rigorously complies with filing requirements of authorities that govern and supervise its activities at the federal and provincial levels.</div>

<div style="TEXT-ALIGN: justify; FONT-VARIANT: normal; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 10pt; FONT-SIZE: small; FONT-WEIGHT: normal">In addition to the numerous approvals obtained for the initiation and continuation of the project and the variety of information and documentation that the company provides to the various authorities, YPF has demonstrated, on repeated occasions and through different means, its willingness and transparency to expand knowledge of this agreement. On more than one occasion, it created opportunities for hearings with interested parties&#160;so that they could be informed about the scope and characteristics of the agreement. For this reason, YPF understands and is concerned that there may be an intention to use this agreement for political purposes, regardless of the damage that this situation could cause to YPF and to future oil and gas investment projects in Argentina.</div>

<div style="TEXT-ALIGN: justify; FONT-VARIANT: normal; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 10pt; FONT-SIZE: small; FONT-WEIGHT: normal">Likewise, YPF clarifies:</div>

<div style="TEXT-ALIGN: justify; FONT-VARIANT: normal; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 10pt; FONT-SIZE: small; FONT-WEIGHT: normal">&#8226; To date, Chevron has invested in the Loma Campana project more than US$2.5 billion in foreign investment that was settled in the local exchange market (<font style="FONT-STYLE: italic">Mercado &#218;nico y Libre de Cambios</font>). More than 470 wells have been drilled and over 5,000 direct jobs have been created in the province of Neuqu&#233;n. Today, Loma Campana is the second largest field in Argentina and the largest unconventional oil field in the world outside of the U.S.</div>

<div style="TEXT-ALIGN: justify; FONT-VARIANT: normal; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 10pt; FONT-SIZE: small; FONT-WEIGHT: normal">&#8226; Chevron's investment in the project is entirely at its sole cost and risk and will be repaid with production from the project.</div>

<div style="TEXT-ALIGN: justify; FONT-VARIANT: normal; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 10pt; FONT-SIZE: small; FONT-WEIGHT: normal">&#8226; Chevron is exposed to the same geological and commercial risks under the project as YPF, and there are no price or profitability guarantees.</div>

<div style="TEXT-ALIGN: justify; FONT-VARIANT: normal; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 10pt; FONT-SIZE: small; FONT-WEIGHT: normal">&#8226; The contractual and corporate structure used to direct Chevron's investment under this agreement was intended to guarantee that the foreign investment would enter the Argentine market to be fully allocated to the investment project in Argentina. The structure complies with all applicable legal regulations and does not make any use of companies organized in tax havens, as pursuant to the laws of the Argentine Republic.</div>

<div style="TEXT-ALIGN: justify; FONT-VARIANT: normal; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 10pt; FONT-SIZE: small; FONT-WEIGHT: normal">&#8226; All funds invested by Chevron are allocated to the development of the Loma Campana project, which is subject to stringent controls and audits by well-known specialized firms.</div>

<div style="TEXT-ALIGN: justify; FONT-VARIANT: normal; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 10pt; FONT-SIZE: small; FONT-WEIGHT: normal">&#8226; The Loma Campana project is subject to the environmental rules and regulations in force in the Argentine Republic that apply to any operator, a requirement that is verified and supervised on an ongoing basis by the pertinent authorities.</div>

<div style="TEXT-ALIGN: left; FONT-VARIANT: normal; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 10pt; FONT-SIZE: small; FONT-WEIGHT: normal">&#8226; YPF did not issue any direct awards to Chevron. It merely executed an association agreement for the joint exploitation of hydrocarbons, a customary practice among domestic and international oil companies.</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">Date: March 18, 2016</div>
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<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">/s/ <font style="DISPLAY: inline">Lorena S&#225;nchez</font></div>
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##__9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
