Petroamerica acquires balance of shares and warrants of Petro Vista Energy
Corp. by way of private placement

TSXV - PTA

VANCOUVER, Dec. 9 /CNW/ - Further to its news release of October 13, 2009, Petroamerica Oil Corp. (TSXV: PTA) has completed the acquisition of the balance of shares and warrants of Petro Vista Energy Corp. ("Petro Vista") which was effected by way of private placement. A portion of the private placement was subject to the approval of Petro Vista shareholders which was obtained on December 7, 2009. The Company now holds 25,000,000 shares of Petro Vista representing 28.3% of Petro Vista's outstanding shares, and warrants to acquire an additional 25,000,000 shares at C$0.30 per share until October 9, 2011.

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: Paul Kroshko, Chief Executive Officer, Tel: (403) 607-8184

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Petroamerica Oil Corp.

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