Americas Petrogas Inc.
TSX VENTURE : BOE

Americas Petrogas Inc.

August 09, 2011 09:20 ET

Americas Petrogas Commences Exploration Drilling Program on Rinconada Norte

CALGARY, ALBERTA--(Marketwire - Aug. 9, 2011) - Americas Petrogas (TSX VENTURE:BOE) ("Americas Petrogas" or the "Company") is pleased to announce the spudding of the first of 3 exploration wells on the Rinconada Norte Block. These wells will target conventional hydrocarbons in the Precuyo, which is the key producing formation in Medanito Sur, as well as other shallower targets. API is operator on the block and has a 65% Working Interest with partner Gran Tierra (35%).

The block is located immediately south of and adjoins Medanito Sur in La Pampa Province in the eastern region of the Neuquen Basin of Argentina. The planned well locations are on trend with current producing wells in Medanito Sur and adjacent blocks, and will test similar formations at similar depths.

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 interests in numerous blocks involving exploration, development and production. Americas Petrogas has proven conventional oil and gas reserves, as well as evolving unconventional resource plays including shale gas, shale oil, and tight sand oil and gas in Argentina's prolific Neuquen basin. For more information about Americas Petrogas, please visit www.americaspetrogas.com

About GrowMax Agri Corp.

GrowMax Agri Corp., a subsidiary of Americas Petrogas Inc., is developing a surface potash (KCl or Muriate of Potash) brine reservoir and evaporite deposit at Bayovar in the Sechura Desert of Northwest Peru. Additional mineral potential includes Phosphate, Bromine and others. For more information about GrowMax Agri Corp., please visit www.growmaxagricorp.com

Certain statements contained in this press release constitute "forward-looking statements" as such term is used in applicable Canadian and US securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or are not statements of historical fact and should be viewed as "forward-looking statements". These statements relate to analyses and other information that are based upon forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Such forward looking statements involve known and unknown 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.

In particular, statements (express or implied) contained herein regarding targeting conventional hydrocarbons, targeting the Precuyo and other shallower formations, testing formations that are similar in nature and depth to Medanito Sur and adjacent blocks, exploration plans, quantities of oil and gas reserves, and conventional and unconventional resources, should all be viewed as forward looking statements.

There can be no assurance that such forward-looking statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release. The forward-looking statements contained herein are expressly qualified by this cautionary statement.

Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements and if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.

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