Americas Petrogas Inc.
TSX VENTURE : BOE

Americas Petrogas Inc.

February 02, 2012 14:46 ET

Americas Petrogas: Total Depth Reached on Los Toldos II Vaca Muerta Shale Well

CALGARY, ALBERTA--(Marketwire - Feb. 2, 2012) -

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Americas Petrogas (TSX VENTURE:BOE) ("Americas Petrogas" or the "Company") is pleased to announce that its Los Toldos Este vertical well has reached total depth ("TD") of approximately 3,250 meters. The well was cored during drilling and extensive logging operations are currently underway. Americas Petrogas intends to case the Los Toldos Este well, which principally targets the Vaca Muerta shale formation in the Los Toldos blocks (163,500 gross acres or 255 sections or 660 square kilometers) located in the Neuquen Basin of Argentina. Other zones of interest include the Mulichinco, Tordillo and Quintuco formations. Americas Petrogas is the operator of the well.

Americas Petrogas intends to conduct detailed study and lab analysis of the cores, logs and rock cuttings to determine optimum zones for testing and completion.

Mr. Barclay Hambrook, President and CEO of Americas Petrogas said, "We are pleased with the progress being made on this well, having reached TD within 55 days. We look forward to the next step involving petrophysical and geochemical analyses."

This is the first well within the farmout agreement between Americas Petrogas and ExxonMobil Exploration 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 conventional and unconventional (shale and tight sands) oil and gas interests in numerous blocks in the Neuquen Basin of Argentina. Americas Petrogas has joint venture partners, including ExxonMobil, Apache and Gran Tierra Energy, on various blocks in Argentina. For more information about Americas Petrogas, please visit www.americaspetrogas.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 extensive logging operations, casing the well, target formations, and detailed study and lab analysis to determine optimum zones for testing and completion 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.

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 THIS RELEASE.

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