Americas Petrogas Inc.

Americas Petrogas Inc.
GrowMax Agri Corp.

GrowMax Agri Corp.

February 17, 2015 13:32 ET

Americas Petrogas Provides Update of Operations, Strategic Process and GrowMax

CALGARY, ALBERTA--(Marketwired - Feb. 17, 2015) -

Production and Pricing

Americas Petrogas Inc. (TSX VENTURE:BOE) ("Americas Petrogas" or the "Company") announces gross production from the Company's conventional wells was approximately 1,635 bopd (approximately 1,350 bopd net to the Company) during the period from January 10 to February 8, 2015. This production includes oil from the four new wells that were drilled late in 2014. The Company's gas re-injection program has been able to maintain a more stable oil production level in the Medanito Sur block. The oil price of the Company's Medanito light crude was US$77.00 per barrel for January 2015 and is US$76.00 per barrel for February 2015.

Strategic Review process for Americas Petrogas

The Company's strategic review is ongoing and recently, the Company has experienced interest from a number of new companies as well as renewed interest from companies who had shown previous interest in a possible strategic transaction. Management is continuing to consider numerous alternatives as part of the strategic review process including joint ventures, sale of individual assets or total assets, carried interests, farm outs, and the spin out of certain assets, including the Company's interest in GrowMax.

GrowMax Update

GrowMax is a majority-owned subsidiary of Americas Petrogas Inc. The Company reports that the final set of cores from Growmax's original drilling program are being analyzed at Certimin S.A. in Lima, Peru. Certimin is an affiliated ISO 9001 laboratory which uses standards for phosphate and silica from the Association of Fertilizer and Phosphate Chemists. As previously announced, the Company has retained Golder Associates to prepare a National Instrument 43-101 report on its phosphate resources. The Company has been advised by Golder Associates that the NI 43-101 report on phosphate resources is expected to be delivered to the Company by April 2015.

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 Neuquén Basin of Argentina. Americas Petrogas has joint venture partners, including ExxonMobil and YPF, on various blocks in the shale oil and gas corridor in the Neuquén Basin, Argentina. Americas Petrogas and Indian Farmers Fertiliser Co-operative Limited (IFFCO) own GrowMax Agri Corp., a private company involved in the exploration for near-surface phosphates, potash and other minerals, and potential development of a fertilizer project in Peru.

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 future production levels, future oil prices, the Company's strategic review, and the completion of a National Instrument 43-101 report on phosphate should all be viewed as forward looking statements. Current production may not continue at the levels referenced herein for an extended time due to, among other things, natural decline that is experienced from previously drilled wells on the Medanito Sur block. There is no assurance that the Argentina regulators will not change the Argentina domestic oil price in the future.

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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