Americas Petrogas Discovers More Oil Neuquen Basin of Argentina

Americas Petrogas (TSXV:BOE) reported interim results of drilling program in the Eastern portion of the Neuquen Basin of Argentina.

As quoted in the press release:

The first well of this drilling program that was completed on Medanito Sur block is the El Jabali a-2 well (EJ.a-2). The well has made a significant discovery of light (34 degrees API) crude oil from the sandstone formation above the Pre Cuyo in a 10 metre interval at a depth of 1036 metres.

Americas Petrogas’s President & CEO, Mr. Barclay Hambrook stated:

We are active in increasing reserves and production in our Eastern blocks by drilling relatively low-cost wells which have potential for short term payout and, at the same time, actively drilling for Vaca Muerta and Los Molles shale oil and gas on our Western blocks in the basin.”

Click here to read the Americas Petrogas (TSXV:BOE) press release.