CALGARY, ALBERTA--(Marketwire - Feb 15, 2013) - Americas Petrogas Inc. ("Americas Petrogas" or the "Company") (TSX VENTURE:BOE) announces the Company, as operator, has completed a multi-stage hydraulic stimulation program on its ALL.x-1 well on the Los Toldos I block, which the Company (45%) operates and shares with ExxonMobil (45%) and Gas y Petróleo del Neuquen (10%).
The multi-stage hydraulic stimulation involved four (4) stages and was completed in the Vaca Muerta shale formation of the ALL.x-1 well. The operations were carried out as per the predicted program. As earlier reported, the ALL.x-1 was drilled and cased to total depth of approximately 10,554 feet (3217 meters). It was also reported that the well intersected a continuous 1843 feet (562 metres) of the Vaca Muerta shale formation.
Americas Petrogas, as Operator, is now proceeding with plans for production testing of the well.
Barclay Hambrook, President and CEO, said, "We are pleased with the progress that we have made on this well and continue to be excited about the prospects for our unconventional wells."
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 Apache, on various blocks in the shale oil and gas corridor in the Neuquén Basin, Argentina. For more information about Americas Petrogas Inc., 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 future production testing should be viewed as a forward-looking statement. There is no assurance that the ALL.x-1 well will produce any oil or gas.
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.