Argentina

Americas Petrogas Inc., Calgary, said its Argentine subsidiary took a farmout from Petrolifera Petroleum Ltd. to acquire a 65% working interest in the Rinconada Norte exploitation and development block in the Neuquen basin, La Pampa Province, Argentina.

By OGJ editors
HOUSTON, June 16
– Americas Petrogas Inc., Calgary, said its Argentine subsidiary took a farmout from Petrolifera Petroleum Ltd. to acquire a 65% working interest in the Rinconada Norte exploitation and development block in the Neuquen basin, La Pampa Province, Argentina.

The 23,700-acre block lies south of the 26,000-acre Medanito Sur block held by Americas Petrogas. Americas Petrogas agreed to drill three exploratory wells by Nov. 30, 2011.

Rinconada Norte partly fills the area between Medanito Sur and the Vaca Mahuida block, site of a recent discovery. Medanito Sur produces light sweet crude from four wells. Vaca Mahuida has tested natural gas and oil from three wells.

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