Americas Petrogas Inc.
TSX VENTURE : BOE

Americas Petrogas Inc.

August 24, 2010 16:18 ET

Americas Petrogas Hires Experienced Operations Manager

CALGARY, ALBERTA--(Marketwire - Aug. 24, 2010) - Americas Petrogas Inc. ("Americas Petrogas") (TSX VENTURE:BOE) is pleased to announce the appointment of Mr. William C. Ibbitson, B. Sc. (Chem. Eng.) P. Eng. as Operations Manager for its Argentina oil and gas operations. Bill brings over 35 years of experience in the oil and gas industry including drilling, reservoir management, production, process and facilities engineering, construction, field operation and management. Bill's experience covers both domestic and international with companies such as Nexen, Rio Alto and Chauvco, and with many of those years based in Latin America, including Argentina. Highlights of Bill's experience include:

  • Managed the increase of production in Latin America for Rio Alto and in Yemen for Nexen;
  • Oversaw an operation involving 40+ individuals in Argentina;
  • Managed major construction contracts with a value over $100 million for Nexen in Yemen.
  • For Chauvco in Argentina, was able to achieve significant operating cost reductions, including a $4.50/boe reduction in a six-month period.

Commenting on this appointment, Mr. Guimar Vaca Coca, Americas Petrogas Argentina S.A.'s Managing Director, stated, "We are pleased to welcome Mr. Ibbitson to Americas Petrogas and anticipate that his experience will contribute towards growing our production in the near future."

Mr. Barclay Hambrook, President of Americas Petrogas added, "With Bill's experience optimizing production, reducing operating costs, operating numerous blocks in 4 international locations, and managing exploitation drilling and facilities construction, he is an excellent addition to our already strong team in Argentina."

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 oil and gas exploration, development and production activities and holds over 1,808,000 acres of land in Argentina's most prolific Neuquen Basin. In Peru, through GrowMax Agri Corp., Americas Petrogas is developing a surface potash (and other minerals) brine reservoir and evaporite deposit at Bayovar in the Sechura Desert of Northwest Peru. Management, along with its partner/investor IFFCO, intends to build GrowMax into a potash and specialty fertilizers company.

Certain statements in this Press Release constitute forward-looking statements under applicable securities legislation. Such forward-looking statements, such as increasing production and reducing operating costs, involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels and timing of activity and achievements to differ materially from those expressed or implied by such information.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE RELEASE.

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