Americas Petrogas announced that the province of Neuquen in Argentina has approved the agreement among Americas Petrogas, Energicon and Apache Energia Argentina, a subsidiary of 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."
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