Americas Petrogas Inc. has received the exploitation license on the Medanito Sur concession block (26,000 acres; 105 square kilometers; 41 sections) located in the Eastern region of Argentina's Neuquen Basin, a region of the basin that contains conventional oil and gas. The exploitation license was granted by the La Pampa province.

Commenting on this permit, Barclay Hambrook, President and CEO of Americas Petrogas, stated: "This 25-year Exploitation concession on the Medanito Sur block opens the door for further development on the block, which will undoubtedly increase our oil production for 2012 and beyond."

Tags: Americas Petrogas