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Petroamerica Discovers Oil in Une Formation

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 closed at 35 cents on Monday, which is slightly below year high $0.365.

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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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