In June 2007, New Sage Energy entered into a joint venture agreement with Americas Petrogas Inc. (API), a private Canadian oil and gas company focused on exploring opportunities in South America. New Sage Energy owns 3,960,000 shares and 1,800,000 warrants of API.
The joint venture agreement with API allows New Sage to earn a 10% equity stake in API’s properties in Argentina’s prolific Neuquén Basin and establishes a joint venture farm in relationship to earn working interest on other specific projects.