ARPETROL LTD. ANNOUNCES CLOSING OF BUSINESS COMBINATION

CALGARY, March 21 /CNW/ -- 
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES 
OR FOR DISSEMINATION IN THE UNITED STATES.


CALGARY, March 21 /CNW/ - ArPetrol Ltd. (formerly RPT Resources Ltd.)
 (the "Corporation") (TSXV: RPT) is pleased to announce that the Corporation and ArPetrol
 Inc. ("ArPetrol") today completed their previously announced business combination,
 pursuant to which a wholly-owned subsidiary of the Corporation
 amalgamated by way of a plan of arrangement (the "Arrangement") with ArPetrol and pursuant thereto the Corporation issued 7.494
 common shares of the Corporation (each a "Common Share") for each common share of ArPetrol for an aggregate issuance of
 approximately 224.1 million Common Shares. The Arrangement was approved
 by 100% of the shareholders who voted at the ArPetrol shareholder
 meeting, 98% of the shareholders who voted at the Corporation's
 shareholder meeting and by the Court of Queen's Bench of Alberta. 
 Following the Arrangement, the Corporation was continued into the
 Province of Alberta under the name "ArPetrol Ltd.".


The Corporation is also pleased to announce the election of the new
 board of directors comprised of Claudio Ghersinich (Chairman), Abdel
 Badwi, Jeffrey Boyce, Timothy Thomas, Ronald Williams and Michelle
 Gahagan and the appointment of the previously announced management team
 of Timothy Thomas as President and Chief Executive Officer, Ian Habke
 as Chief Financial Officer, Ian Moffat as Vice President, Exploration
 and Troy Wagner as Vice President, Argentina.


In conjunction with the completion of the Arrangement, the Corporation's
 approximately 228.5 million subscription receipts ("Subscription Receipts") issued on January 11, 2011 at a price of $0.13 per Subscription
 Receipt have converted into approximately 228.5 million Common Shares
 and approximately 228.5 million common share purchase warrants ("Warrants").  Each Warrant entitles the holder thereof to purchase one Common
 Share at a price of $0.26 until January 11, 2013.  Net proceeds of
 approximately $28.4 million from the issuance of the Subscription
 Receipts have been released from escrow to the Corporation, with the
 balance of the proceeds being paid to Raymond James Ltd. and Canaccord
 Genuity Corp. in payment of their fees for acting as agents in
 connection with the original private placement of the Subscription
 Receipts.  In addition, a finder's fee of 2,000,000 Common Shares has
 been paid to Sam Charanek in connection with the successful completion
 of the Arrangement.


The Corporation now has issued and outstanding approximately 571.5
 million Common Shares and 228.5 million Warrants.


Outlook


With the closing of the Arrangement and the release from escrow of the
 net proceeds from the Subscription Receipt financing, the Corporation
 is debt-free with working capital of approximately $39 million with an
 experienced management team and board of directors to execute a
 fully-funded capital program on an inventory of drilling opportunities
 in Argentina.  The Corporation's growth strategy will focus on
 expanding its core operation and cash-flow base in Argentina through
 the drilling of redevelopment wells on its Faro Virgenes concession in
 Argentina and exploration wells identified for both Faro Virgenes and
 the Corporation's Blanco de Los Olivos Oriental permit.  As well, the
 Corporation will be actively pursuing strategic acquisitions in
 Argentina and other locations in Latin America to diversify its asset
 base and expects that its recognized board and management team will
 draw interest from participants in that region.  Tim Thomas, President
 & Chief Executive Officer of ArPetrol, commented:






          "We are pleased with the outcome of our going-public
          transaction.  With the closing of the Arrangement and
          proceeds of our recent financing, ArPetrol should be
          well-positioned to capitalize on the changing market in
          Argentina through both organic growth opportunities and
          targeted acquisitions."





The Corporation also intends to review alternatives to create maximum
 value for the Corporation's current mining assets.


About ArPetrol Ltd.


The Corporation is a Calgary based public company currently engaged in
 oil and gas exploration, development and production in Argentina.  The
 Corporation's Common Shares are listed on the TSX Venture Exchange
 under the symbol "RPT".


Reader Advisory


Except for statements of historical fact, this news release contains
 certain "forward-looking information" within the meaning of applicable
 securities law. Forward-looking information is frequently characterized
 by words such as "plan", "expect", "project", "should", "intend",
 "believe", "anticipate", "estimate" and other similar words, or
 statements that certain events or conditions "may" or "will" occur.  In
 particular, forward-looking information in this press release includes,
 but is not limited to, statements with respect to the Corporation's
 growth and business strategy and development and exploration plans. 
 Although we believe that the expectations reflected in the
 forward-looking information are reasonable, there can be no assurance
 that such expectations will prove to be correct. We cannot guarantee
 future results, performance or achievements. Consequently, there is no
 representation that the actual results achieved will be the same, in whole or in part, as those set out in the
 forward-looking information.


Forward-looking information is based on the opinions and estimates of
 management at the date the statements are made, and are subject to a
 variety of risks and uncertainties and other factors that could cause
 actual events or results to differ materially from those anticipated in
 the forward-looking information.  Some of the risks and other factors
 that could cause the results to differ materially from those expressed in the
 forward-looking information include, but are not limited to: general
 economic conditions; industry conditions, including fluctuations in the
 prices of oil and natural gas; unanticipated operating events or
 performance which can reduce production or cause production to be shut
 in or delayed; competition for and/or inability to retain drilling rigs
 and other services; competition for, among other things, capital,
 acquisitions of reserves, undeveloped lands, skilled personnel and
 supplies; geological, technical, drilling, processing and
 transportation problems; changes in tax laws and incentive programs
 relating to the oil and gas industry; failure to realize the
 anticipated benefits of acquisitions and dispositions; the ability of
 the Corporation to successfully manage the political and economic risks
 inherent in pursuing oil and gas opportunities in foreign countries;
 and the ability of the Corporation to successfully market its oil and
 natural gas products.  Readers are cautioned that this list of risk
 factors should not be construed as exhaustive.  


The forward-looking information contained in this news release is
 expressly qualified by this cautionary statement. We undertake no duty to update any of the
 forward-looking information to conform such information to actual
 results or to changes in our expectations except as otherwise required
 by applicable securities legislation.  Readers are cautioned not to
 place undue reliance on forward-looking information.


Neither the TSX Venture Exchange nor its Regulation Services Provider
 (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the
 adequacy or accuracy of this release.


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