Americas Petrogas report that drilling has commenced on the Aguada Los Loros x-1 (ALL.x-1) unconventional, shale exploration well on the Los Toldos I block (98,300 gross acres or 398 square kilometers or 154 sections) located in the Neuquen Basin of Argentina.

This is the second well within the farmout agreement between Americas Petrogas and ExxonMobil Exploration Argentina ("ExxonMobil") that was announced in 2011 and the fourth shale oil and gas well on the Company's assets in the Neuquen Basin.

The ALL.x-1 well, a vertical well, is planned for drilling to a total depth of approximately 3300 metres (or 10,825 feet) with the principal target being the Vaca Muerta shale. The ALL.x-1 location is approximately 10 kilometers (or six miles) south of the CLN.x-2 well (drilled and completed in 1979 by YPF in the Los Toldos I block).

Tags: Americas Petrogas