CALGARY, ALBERTA, Jan. 18, 2011 (Marketwire) --
Americas Petrogas Inc. ("Americas Petrogas" or the "Company") (TSX VENTURE:BOE) announces that the province of Neuquen in Argentina has approved the agreement among Americas Petrogas, Energicon S.A. and Apache Energia Argentina S.R.L, a subsidiary of Apache Corporation ("Apache"), entered into in November 2010. As previously announced, the agreement involves conducting exploration on Huacalera block (249,943 acres or 1,011 square kilometers), located in the western region of Argentina's Neuquen Basin, a region of the basin that contains conventional gas and oil, and offers potential for unconventional gas from shale formations and tight reservoirs.
Commenting on this agreement, Barclay Hambrook, President and CEO of Americas Petrogas and Carlos Lau, Chairman, stated, "We are pleased that final approval has been obtained for our agreement and look forward to the commencement of drilling by our experienced partner, Apache."
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 oil and gas interests in 16 blocks involving exploration, development and production. Americas Petrogas has proven conventional oil and gas reserves, as well as evolving unconventional resource plays including shale gas, shale oil, and tight sand oil and gas in Argentina's prolific Neuquen basin. For more information about Americas Petrogas, please visit www.americaspetrogas.com
About GrowMax Agri Corp.
GrowMax Agri Corp., a subsidiary of Americas Petrogas Inc., is developing a surface potash (KCl or Muriate of Potash) brine reservoir and evaporite deposit at Bayovar in the Sechura Desert of Northwest Peru. Additional mineral potential includes Phosphate, Bromine and others. The Bayovar area has gained recent attention through CVRD Vale's recent start-up of a 4 million tonne per year phosphate surface mine located just south of GrowMax's 202,000 acre concession. GrowMax plans to commence exploration for phosphate in early 2011. Management, along with its partner/investor IFFCO, intends to build GrowMax into a potash and specialty fertilizers company. For more information about GrowMax Agri Corp., please visit www.growmaxagricorp.com
Certain statements in this Press Release constitute forward-looking statements under applicable securities legislation. Such forward-looking statements, such as expected drilling on the Huacalera concession, involve 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. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels and timing of activity and achievements to differ materially from those expressed or implied by such information.
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 THE RELEASE.
Americas Petrogas Inc.
President and CEO