PETROAMERICA RECEIVES KEY COLOMBIAN APPROVAL

Company Is Recognized to its 15% participating interest in the Balay Block by the Colombian Government

TSXV - PTA

CALGARY, Jan. 5 /CNW/ - Petroamerica Oil Corp. (the 'Company') is pleased to announce its wholly owned subsidiary; Petroamerica International Corp. has been recognized by the ANH (National Hydrocarbon Agency) as to its 15% participating interest in the Balay Block in the Llanos basin of Colombia. 

Paul Kroshko, President and CEO commented, "We are very pleased with the official recognition by the regulator and to be working with the other partners in this exciting block and discovery."

ANH's mandate is to manage Colombia's Oil & Gas resources, representing the Colombian government and its citizens when designating exploration areas.

Petroamerica is a junior oil and gas company operating in Colombia and its shares are listed on the TSX Venture Exchange under the symbol "PTA".  www.petroamericaoilcorp.com

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:

A. Paul Kroshko
President and CEO
Petroamerica Oil Corp.

Tel: 403-237-8300
Email: investorrelations@pta-oil.com

or

Colin Wagner
CFO
Petroamerica Oil Corp.

Tel: 403-237-8300
Email: investorrelations@pta-oil.com

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Petroamerica Oil Corp.

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