UPDATE: Petroamerica Discovers Oil in Une Formation; Stocks Record New Year Highs

By Midnight Trader,  January 02, 2013, 09:57:40 AM EDT

Petroamerica Oil Corp. (PTA.V) announced the results of its Las Maracas-6 well drilled on the Las Maracas Field in the Llanos Basin of Colombia. The well has successfully tested 29 degree API oil from a new reservoir interval, the Une Formation, at rates of approximately 600 barrels of oil per day.

The Las Maracas Field has now produced oil from 3 different reservoir intervals, the Mirador, Gacheta and Une Formations.

PTA went up by nearly 6% to a new year high of 37 cents. Volume traded is over 227,000.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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