Argenta Spuds New Well in Argentine Loma El Divisadero Block

Argenta Oil & Gas has started drilling its first of two appraisal wells in Loma El Divisadero Block. This well (LEDO e4) is expected to reach a total depth of 3,750 feet. The goal of the appraisal program is to define the development program (oil, gas or both) from the Chorreado Member (Huitrin Formation).

Claudio Larotonda, President and CEO commented, "Each well will take approximately 16 days to drill, complete and test. The proper evaluation of these two wells will help us define the future strategy in this block. We know there is oil and gas in Chorreado. We need to define how to produce any hydrocarbon efficiently."