CALGARY, ALBERTA--(Marketwired - Oct 2, 2013) - Americas Petrogas Inc. ("Americas Petrogas" or the "Company") (TSX VENTURE:BOE) is pleased to announce that as a result of recent optimization studies, supported by an independent engineering report (see news release dated September 26, 2013 titled "Americas Petrogas Announces 41% Increase in Medanito Sur Proved Plus Probable Net Oil Reserves"), the Company has decided to expand its conventional drilling program for 2013. The Company plans to drill up to an additional eight (8) wells in 2013. The program has just begun and will include a combination of exploration and development wells. The wells are expected be completed and put on production relatively soon after drilling.
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. Ryder Scott Company of Houston has completed an independent report dated June 30, 2013 for the Company estimating recoverable resources of 8.3 Billion Barrels of oil Equivalent (see Americas Petrogas News Release dated August 22, 2013 including important disclosures). Americas Petrogas has joint venture partners, including ExxonMobil and Apache, on various blocks in the shale oil and gas corridor in the Neuquén Basin, Argentina.
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 the number of wells expected to be drilled, the nature of the wells as exploration or development, and the expectation for completion of the wells and to be put on production relatively soon after drilling should all be viewed as forward looking statements. As well, future Finding Costs may not be the same as past Finding Costs.
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.