Americas Petrogas (TSX VENTURE:BOE) ("Americas Petrogas" or the "Company") is pleased to announce that it has successfully started-up:
(1) the Company's new, expanded oil treatment facility, capable of treating approximately 6,300 bopd, located on its Medanito Sur block; and
(2) the Company's new tanker truck terminal and LACT unit located in the province of Rio Negro where the Company delivers its oil into the regional pipeline carrier. A LACT (lease automatic custody transfer) unit measures the volume and quality of oil being transferred from the Company to the pipeline carrier.
Mr. Barclay Hambrook, President and CEO of Americas Petrogas said, "Our new, expanded facilities, which allow us to treat oil to pipeline specifications, should position us to reduce our per-barrel production costs. We thank our team in Argentina for their perseverance and dedication in completing this important milestone."
About Americas Petrogas Inc.
Americas Petrogas Inc. is a Canadian company whose shares trade on the TSX Venture Exchange under the symbol "BOE". Americas Petrogas has conventional and unconventional (shale and tight sands) oil and gas interests in numerous blocks in the Neuquen Basin of Argentina. Americas Petrogas has joint venture partners, including ExxonMobil, Apache and Gran Tierra Energy, on various blocks in Argentina. For more information about Americas Petrogas, please visit www.americaspetrogas.com
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 the 6,300 bopd capacity of the oil treatment facility and reduced per-barrel production costs should all be viewed as forward-looking statements.
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.
