Americas Petrogas Spuds Second Vaca Muerta Well

Americas Petrogas announced that drilling has commenced on a second unconventional, shale exploration well on Los Toldos II block (38,400 gross acres or 155 square kilometers or 60 sections) located in the Neuquen Basin of Argentina. This second well on Los Toldos II block, Agua de Afuera (ADA.x-1), has been spud and surface casing has recently been set.

The ADA.x-1 well, a vertical well, is planned for drilling to a total depth of approximately 10,991 feet (3,350 meters) with the principal target being the Vaca Muerta shale. The ADA.x-1 location is approximately 5.8 miles (9.3 kilometers) west of the LTE.x-1 unconventional well which completed drilling earlier this year. The LTE.x-1 well is currently being tested.

The ADA.x-1 well will primarily target the Vaca Muerta formation and other conventional secondary targets such as the Mulichinco, Tordillo and Quintuco formations.

Americas Petrogas is the Operator holding a 45% working interest in the Los Toldos blocks; ExxonMobil also holds a 45% working interest, with the remaining 10% held by Gas y Petroleo del Neuquen.

Mr. Barclay Hambrook, President and CEO of Americas Petrogas said, "The Company continues to execute on its unconventional shale oil and gas drilling program and to prove-up its assets."


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