Argenta Oil & Gas Inc.
TSX VENTURE : AZA

Argenta Oil & Gas Inc.

August 30, 2007 09:04 ET

Argenta Acquires La Mona Block, Opens Office and Begins Operations in Colombia

TORONTO, ONTARIO--(Marketwire - Aug. 30, 2007) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Argenta Oil & Gas Inc. ("Argenta") (TSX VENTURE:AZA) is pleased to announce that it has been awarded a Technical Evaluation Contract for an onshore exploration block in Colombia known as La Mona. This approval was the result of an application by the Company to the National Hydrocarbon Agency of Colombia ("ANH"). The La Mona block comprises approximately 211,000 acres located in the Lower Magdalena Valley.

"We are very pleased to have received this approval from ANH, and to report that Argenta has begun operations in Columbia", said Claudio Larotonda, President and Chief Executive Officer. "The La Mona block is close to an area of Colombia which has recently produced some very significant hydrocarbon discoveries and we are excited about the prospects for Argenta", he added.

Argenta Oil & Gas is a Canadian energy resource company with oil and gas assets in the Neuquen Basin of Argentina and in Colombia's Lower Magdalena Basin. Argenta owns and operates all of its assets. The Company is focusing on a low risk development focus for growth and is currently pursuing a number of opportunities. Argenta's world class management team has over 300 plus years of combined local and international experience.

For further information on Argenta Oil & Gas, please visit the Company's website at www.argentaoilandgas.com.

Statements in this press release regarding the Company's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.

The TSX does not accept the responsibility for the adequacy or accuracy of this release.

Contact Information