Petroamerica Oil Corp. says 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.

Tags: Petroamerica Oil Corp