Petroamerica Announces 2013 Capital Program, Appoints Ralph Gillcrist as COO; Shrs At Yr Highs

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Petroamerica Oil Corp. (PTA.V), which is trading at year highs, announced its 2013 capital program of $70.0 million for exploration, appraisal and development activities in Colombia which is expected to be fully funded through existing working capital and cash flow.

The company also announced that, in recognition of his significant contribution to the recent exploration and production success of the company, effective immediately Dr. Ralph Gillcrist has been appointed as the Chief Operating Officer of Petroamerica in addition to remaining Executive Vice President Exploration and Business Development. Gillcrist has more than 23 years of international experience in the oil and gas industry and has been in charge of the company's exploration, appraisal and business development efforts since he joined Petroamerica in 2010.

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

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