Petroamerica enters into investor relations agreements with Vanguard
Shareholder Solutions Inc. and Kin Communications Inc.

TSXV - PTA

VANCOUVER, Oct. 29 /CNW/ - Petroamerica Oil Corp. (the "Company" or "Petroamerica") has entered into investor relations agreements with Vanguard Shareholder Solutions Inc. ("Vanguard"), a company incorporated under the laws of British Columbia, located at Suite 1205-1095 West Pender Street, Vancouver, BC and with Kin Communications Inc. ("Kin"), a company incorporated under the laws of British Columbia and located at Suite 210 - 736 Granville Street, Vancouver, BC.

Vanguard, an investor relations firm, is at arm's length to the Company and will provide a variety of investor relations services to the Company, including assisting with the dissemination of news and information to the public and initiating and maintaining contact with the investment community. The initial term of the Vanguard Agreement is 6 months. Petroamerica will pay Vanguard a fee of CAD $7,500 per month and has granted Vanguard 500,000 stock options with an exercise price of $0.70 per share for a period of 5 years. Vanguard is owned and operated by Paul J. Lathigee.

Kin Communications Inc. is an investor relations firm specializing in resource and technology ventures, is at arm's length to the Company and will provide various investor relations services to the Company, including assisting with contacting brokers, investors and prospective investors and providing news and information about the Company. Petroamerica has granted Kin 350,000 stock options with an exercise price of $0.70 per share for a period of 5 years. Kin is owned and operated by Arlen Hansen.

    
    Neither the TSX Venture Exchange nor its Regulation Services Provider (as
    that term is defined in the policies of the TSX Venture Exchange) accepts
    responsibility for the adequacy or accuracy of this release.
    

SOURCE Petroamerica Oil Corp.

For further information: For further information: Gordon Keep, Secretary, Tel: (604) 609-6110

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Petroamerica Oil Corp.

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