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Press Release

August 5, 2010

Pampa Energía and Apache partner to develop non conventional gas fields

Buenos Aires, August 5, 2010. Pampa Energía S.A. (NYSE: PAM; Buenos Aires Stock Exchange: PAMP) (“Pampa” or the “Company”) announces that, through its subsidiaries Petrolera Pampa S.A. and Central Térmica Loma de la Lata S.A. (“Loma de la Lata”), it has executed a letter of intent with Apache Energía Argentina S.R.L. (“Apache”) to jointly engage in the development and exploitation of non conventional gas reservoirs, and an irrevocable bid for the purchase of natural gas within the framework of the Gas Plus program launched by the Argentine Government.

The partnership with Apache would allow the production of an additional 700,000 m3/day of non conventional natural gas, from reservoirs with low permeability, at the Anticlinal Campamento and Estación Fernández Oro areas in the provinces of Neuquén and Río Negro. Pampa would have a 15% participation in the necessary investments for the development of this gas production, estimated to be approximately US$ 8,000,000, allowing Pampa to obtain its proportional participation in the production. All of this additional production will be assigned to supply Loma de la Lata’s gas needs.

Simultaneously, Pampa signed an irrevocable bid for the acquisition of 800,000 m3/day of Gas Plus from Apache for a three year period, seeking also to ensure the gas supply required by Loma de la Lata. The agreed upon price for the Gas Plus, authorized by the Secretariat of Energy, is US$5.00/MMBtu.

In this manner, once the definitive investment terms are reached, Pampa would be in a position to ensure approximately 60% of the provision of gas for Loma de la Lata.

These initiatives that we undertake together with Apache, aimed at ensuring the supply of gas for the Loma de la Lata thermal station, come on top of the agreement executed between Pampa and YPF in November 2009 whereby Pampa agreed to invest up to US$ 29,000,000 in the Rincón del Mangrullo field in the province of Neuquén and that would allow Pampa to supply 11% of the consumption of Loma de la Lata.

For further information, please contact:

Ricardo Torres - Chief Executive Officer

Mariano Batistella - Investor Relations

3302 Ortiz de Ocampo, Building #4

(C1425DSR) Autonomous City of Buenos Aires, Argentina

Phone: +5411 4809 9500

http://www.pampaenergia.com/ir

investor@pampaenergia.com

This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates offuture economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will a ctually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.

Pampa Energía S.A.


By:	/S/ Roberto Maestretti
	Name: Roberto Maestretti Title: Chief Financial Officer