Argentina

By OGJ editors
HOUSTON, July 16 – Americas Petrogas Inc., Calgary, became operator of the 50,900-acre Medanito Sur block in Argentina’s Neuquen basin.

The company’s partners are Argentina’s state Energia Argentina SA (Enarsa) and a local private company.

Americas, as operator, is entitled to receive 70% of the cash flow until it has recovered capital expenditures.

Recent analysis and integration of well and seismic data identified as many as 25 lower- risk drilling targets.

Americas Petrogas holds 2 million acres in 16 large blocks in the basin.