Petroamerica Oil Corp. has entered into a definitive agreement, subject to the approval of the National Hydrocarbon Agency of Colombia (the "ANH"), with Pacific Stratus Energy Colombia Corp. (PSE), a wholly owned subsidiary of Pacific Rubiales Energy Corp., to acquire a 50% working interest (WI) in the Llanos-19 Block (LLA-19), excluding the Tormento Field where PSE will retain its 100% WI.

This farm-in constitutes a key strategic acquisition for Petroamerica, targeting light oil in highly prospective low-side fault closures in the Company's core producing area. The LLA-19 block is strategically situated with respect to Petroamerica's existing Llanos Basin blocks, bordering the Los Ocarros Block (50% WI) which contains the Las Maracas Field, the El Eden Block (40% WI) containing the La Casona and Rumi oil discoveries, and the El Porton Block (50% WI in the exploration area and 25% WI in the Curiara oil discovery).

Tags: Petroamerica Oil Corp