Americas Petrogas Receives Exploitation License on the Medanito Sur Concession Block

abarrelfullabarrelfull wrote on 20 Mar 2012 11:40
Tags: americas-petrogas argentina upstream


Americas Petrogas Inc. (TSX VENTURE:BOE) ("Americas Petrogas" or the "Company") is pleased to announce that it has received the exploitation license on the Medanito Sur concession block (26,000 acres; 105 square kilometers; 41 sections) located in the Eastern region of Argentina's Neuquen Basin, a region of the basin that contains conventional oil and gas. The exploitation license was granted by the La Pampa province.

Commenting on this permit, Barclay Hambrook, President and CEO of Americas Petrogas, stated: "This 25-year Exploitation concession on the Medanito Sur block opens the door for further development on the block, which will undoubtedly increase our oil production for 2012 and beyond."

About Americas Petrogas Inc.

Americas Petrogas Inc. is a Canadian company whose shares trade on the TSX Venture Exchange under the symbol "BOE". Americas Petrogas has conventional and unconventional shale oil and gas and tight sands oil and gas interests in numerous blocks in the Neuquen Basin of Argentina. Americas Petrogas has joint venture partners, including ExxonMobil and Apache, on various blocks in the shale oil and gas corridor in the Neuquen Basin, Argentina. For more information about Americas Petrogas, please visit www.americaspetrogas.com


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