Americas Petrogas Inc. provide information on the Company's unconventional hydrocarbon resources for its interests in the Vaca Muerta, Lower Agrio and Los Molles shale formations only, within the Company's blocks located in Argentina's Neuquén Basin.

These resources were evaluated by the independent consultants Ryder Scott Company, L.P. (Ryder Scott) and documented in a Report effective June 30th, 2013 (the "Resource Report"). All of the Company's nine blocks with unconventional hydrocarbon resources were reviewed in the Resource Report, although not all of the potential resources and formations were evaluated.

The evaluations did not include formations with potential for tight reservoirs such as the Quintuco, Tordillo, Mulichinco and others.

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