The ADA x-1 well is the third unconventional, shale well with primary target the Vaca Muerta, relating to the Los Toldos farmout agreement with ExxonMobil. Americas Petrogas is the Operator holding a 45% working interest in the Los Toldos blocks; ExxonMobil also holds a 45% working interest, with the remaining 10% held by Gas y Petroleo del Neuquen (“G&P”).
Mr. Barclay Hambrook, President and CEO of Americas Petrogas said, “As this is the second well in the Los Toldos II block, this new well will help to determine the extent and potential resources of the Vaca Muerta, and will also provide valuable information on several other potential horizons of interest.”
About Americas Petrogas Inc.
Certain statements contained in this press release constitute “forward-looking statements” as such term is used in applicable Canadian and US securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or are not statements of historical fact and should be viewed as “forward-looking statements”. These statements relate to analyses and other information that are based upon forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
In particular, statements (express or implied) contained herein regarding plans to begin analysis of cores and cuttings at international service labs in Argentina should all be viewed as forward-looking statements. The presence of hydrocarbon shows is not necessarily indicative that hydrocarbons are capable of being successfully produced in commercial quantities. There is no assurance reserves will be assigned to such hydrocarbon bearing formations. There is no assurance that future wells will be drilled on the Los Toldos blocks or that if drilled, such wells will be successful.
There can be no assurance that such forward-looking statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this press release. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements, if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.
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