Petroamerica Oil Corp. (fka PTAXF)

[natstocks]

Petroamerica Announces Successful Appraisal of Quinde East with the Quinde-3 Well

CALGARY, Dec. 15, 2014 /CNW/ - Petroamerica Oil Corp. (TSX-V:PTA) ("Petroamerica" or the "Company"), a Canadian oil and gas company operating in Colombia, is pleased to announce that it has successfully drilled the Quinde-3 appraisal well in the Quinde East discovery pool in the Suroriente Block (15.8% Company working interest) of the Putumayo Basin in Colombia. The Quinde-3 well was directionally drilled by operator Vetra, to a total depth of 10,430 feet from the Quinde multi-well surface pad and encountered 20 feet of net pay (true vertical depth) in the N Sand formation. The well, drilled 1.4 kilometres west of the Quinde-7 well, validates the Company's geological mapping of the extent of this recently discovered pool. After cementing production casing in place the Quinde-3 well is expected to be perforated over the N sand pay interval and equipped to pump, and is expected to commence permanent production into the existing Quinde production facility prior to the end of December 2014.