UPDATE: Petroamerica Discovers Oil in Une Formation; Stocks Record New Year Highs
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.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.