Americas Petrogas (TSX VENTURE: BOE) announced, with respect to the Los Toldos Este well (LTE.x-1) drilled on the Los Toldos II block in the Neuquen province, that a full suite of logs and cores have been acquired from the Vaca Muerta formation, and production casing has been successfully set and cemented to a total depth of approximately 3,260 meters. The well encountered 343 metres or 1125 feet of the primary target Vaca Muerta Shale Formation with hydrocarbon shows. Hydrocarbon shows were also encountered and data acquired in the Mulichinco, Quintuco and Tordillo formations.
This is the first Vaca Muerta Shale vertical exploration well drilled in the Los Toldos blocks (163,500 gross acres or 255 sections or 660 square kilometers), which are located in the Neuquen Basin of Argentina and which are believed to run along the emerging shale oil and shale gas play corridor in the Western part of the Neuquen Basin. Americas Petrogas has a 45% working interest in these blocks, ExxonMobil holds a 45% working interest, and Gas y Petroleo del Neuquen holds a 10% working interest. Americas Petrogas is the operator.
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