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Americas Petrogas Pursuing Further JV Activity in Nequen

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Americas Petrogas Inc. has announced that it has filed its 2014 audited consolidated financial statements, including the Auditor's Report thereon, and Management's Discussion and Analysis relating to its 2014 year-end results.

The following Summary of Selected Financial and Operational Highlights have been derived from the audited consolidated financial statements and MD&A. Readers are strongly encouraged to review the entire audited consolidated financial statements, including the Auditor's Report thereon, and MD&A.

All amounts are in Canadian dollars unless otherwise stated.

Barclay Hambrook, President and CEO of Americas Petrogas stated: "2014 presented numerous challenges to our Company. Many of these challenges were beyond our control. We are energetically reviewing strategic alternatives to enhance shareholder value. A number of companies are showing interest in opportunities our Company has to offer. Jefferies LLC, the Company's financial advisor, continues to assist us."

Mr. Guimar Vaca Coca, President and Managing Director of Americas Petrogas Argentina, the Company's wholly-owned subsidiary, stated: "Recently, more companies are showing interest in joint ventures, farm-outs and similar transactions with Americas Petrogas. As this is an important election year in Argentina, there is growing optimism towards increased investment in the country's hydrocarbon sector, and in particular, the Vaca Muerta shales."

Even with the active review of strategic alternatives and increased interest by third parties, there is no assurance that the steps being undertaken will be successful.

Reserves

The information set forth below is derived from independent engineering reports which have been prepared in accordance with the standards contained in the Canadian Oil and Gas Evaluation Handbook and the reserves definitions contained in National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities. The full content of the Company's Statement of Reserves Data and Other Oil and Gas Information for the year ended December 31, 2014, including the significant assumptions, is filed on SEDAR.

Highlights and Recent Activities

Argentina

• In November 2014, the Neuquén province in Argentina issued a decree granting Americas Petrogas and its joint venture partners (ExxonMobil and Gas y Petróleo del Neuquén) an evaluation period on the four Los Toldos Blocks (LT-1 Block, LT-2 Block, LT-3 Block and LT-4 Block), which measure approximately 163,800 acres or 663 square kilometers gross. The evaluation period spans four (4) years beginning May 2014 and ending May 2018.
• During the last quarter of 2014, the Company re-started drilling on Medanito Sur with a four-well program. All of these wells were completed and have been placed on production, utilizing the Company's own production facilities at Medanito Sur.
• With respect to the Company's unconventional Vaca Muerta shale exploration wells on the Los Toldos blocks, the Company, in conjunction with its partner, ExxonMobil, continued to conduct long-term production testing on the LTE.x-1 well and the ADA.x-1 well.
• In addition, the Company and ExxonMobil plan to connect the ALL.x-1 well on the LT-1 Block to the nearby regional gas pipeline in 2016.
• In June 2014, the Company completed a public offering (the "Offering") of 19,166,666 units (the "Units") at a price of $0.90 per Unit ("Offering Price") for gross proceeds of $17.3 million. Each Unit consisted of one common share (each, a "Common Share") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant"), with each Warrant entitling the holder thereof to acquire one Common Share in the capital of the Company at a price of $1.125 until 36 months from the closing date of the Offering.
• Ryder Scott Company (Houston-based independent petroleum engineering firm) estimated (as of March 31, 2014), that the Company has net 7.56 billion boe P50 Best Case Unrisked Prospective (Recoverable) Resources (73% gas and 27% oil/condensate) in the Company's nine unconventional shale oil and shale gas properties. The Ryder Scott estimates only considered the Vaca Muerta, Lower Agrio and Los Molles shales. The report did not consider additional zones of interest such as the Mulichinco, Quintuco, Tordillo, and other prospective formations.
• Management is continuing to work diligently on a review of strategic alternatives aimed at enhancing shareholder value. The opportunities being considered by the review include joint ventures, farm-outs, sale of selected assets and corporate transactions.
• The Company and its partner, Gas y Petróleo del Neuquén (owned by the provincial government of the Neuquén province), received an extension for the drilling of the committed well on Loma Ranqueles (LRa.x-2 well) to June 2015. Management has received interest from potential companies regarding the Loma Ranqueles block and has had ongoing discussions regarding a potential farm-out, partial sale or joint venture.
• With respect to the Huacalera Block, the Company and YPF, the operator, are continuing to have discussions with the government regarding new terms and conditions for the commitments associated with the exploration permit.

Peru

• In May 2014, the Peruvian state-owned company Activos Mineros S.A.C. and the Executive Director of ProInversion executed the transfer agreement formally granting the Bayovar Property to Americas Petrogas' Peruvian subsidiary. The Company has already signed the surface rights access agreement for the property.
• In 2014, the Company officially recorded, with the public registry in Peru, 8,800 additional hectares (approximately 21,700 acres or 88 square kilometers) of concessions in the Bayovar district within the Sechura Desert, Peru. These 8,800 hectares of registered new concessions are located to the northeast of lands currently held by Vale S.A., which operates a producing phosphate mine in the Bayovar district in conjunction with Mosaic Company and Mitsui & Co., Ltd. When added to the Company's original Bayovar Property (concessions 5, 6, 7 and 8), which measures in excess of 82,000 hectares (202,600 acres or 820 square kilometres), the Company now holds registered concessions totaling in excess of 90,800 hectares (224,300 acres or 908 square kilometers) in the Bayovar district within the Sechura Desert, Peru. The new concessions are immediately to the east of the Company's Bayovar 6 and Bayovar 8 concessions. The Company has staked an additional 1,200 hectares of lands in the same area for which registration remains pending.
• In 2015, the Company received its inaugural NI 43-101 mineral resource estimate for its Bayovar phosphate project. The independent estimate was prepared by Golder Associates, supervised by Jerry DeWolfe, MSc. P.Geo, an Independent Qualified Person defined under NI 43-101. The independent estimate was based on the Company's historic drill holes on the Bayovar 6, 7 and 8 concessions on its Bayovar Property located in the Sechura Desert, Peru. In late 2014 and early 2015, the Company drilled numerous new holes which are currently undergoing testing.
• In August 2014, the Company announced discovery of near-surface Sechura phosphate rock on its Bayovar Property. The Company's Peruvian subsidiary completed a trenching program on Bayovar concession 6, one of four concessions on Americas Petrogas' Bayovar Property. A total of five (5) trenches were sampled over a distance of 350 meters. The lab results were favourable.