Under the terms of the deal, APASA will transfer certain assets to the Energicon, which is also a wholly-owned Argentine subsidiary of its parent company.
The sale excludes APASA’s stakes in Vaca Mahuida, Rinconada Norte, Loma Ranqueles, Huacalera and Totoral, Yerba Buena, Bajada Colorada.
Americas Petrogas president and CEO Barclay Hambrook said: "We are pleased with the agreement that has been reached with Tecpetrol, a strong partner dedicated to the exploration, production, pipeline transportation and marketing of hydrocarbons in Argentina.
"The cash will allow the Company to expand its activities on its retained conventional and unconventional properties.
"As well, Americas Petrogas and Tecpetrol intend to jointly consider investment opportunities in Latin America in the future."
Americas Petrogas will also retain ownership interests in GrowMax Agri, which owns phosphate, potash interests, and other minerals in Bayovar, Peru.
The transaction, which is subject to customary conditions and approvals from regulatory, stock exchange and shareholders, is scheduled to be completed by early August 2015.
