Argenta Begins Operations in Colombia

Argenta Oil & Gas has been awarded a Technical Evaluation Contract for an onshore exploration block in Colombia known as La Mona. This approval was the result of an application by the Company to the National Hydrocarbon Agency of Colombia ("ANH"). The La Mona block comprises approximately 211,000 acres located in the Lower Magdalena Valley.

"We are very pleased to have received this approval from ANH, and to report that Argenta has begun operations in Columbia", said Claudio Larotonda, President and Chief Executive Officer. "The La Mona block is close to an area of Colombia which has recently produced some very significant hydrocarbon discoveries and we are excited about the prospects for Argenta", he added.

Argenta Oil & Gas is a Canadian energy resource company with oil and gas assets in the Neuquen Basin of Argentina and in Colombia's Lower Magdalena Basin. Argenta owns and operates all of its assets. The Company is focusing on a low risk development focus for growth and is currently pursuing a number of opportunities. Argenta's world-class management team has over 300 plus years of combined local and international experience.