Petroamerica Provides a Testing Update with its Las Maracas-5 Well Flowing at 3,700 bopd

Petroamerica Provides a Testing Update with its Las Maracas-5 Well Flowing at 
3,700 bopd 
CALGARY, Nov. 15, 2012 /CNW/ - Petroamerica Oil Corp. (TSX-V:PTA) 
("Petroamerica" or the "Company"), further to the operations update release on 
November 13, 2012, is pleased to announce the results of ongoing testing 
operations at its Las Maracas-5 well (the "well"), which flowed approximately 
3,700 barrels of oil per day ("bopd") from the middle Gacheta sand only. This 
rate does not include production from the lower Gacheta sand. 
The middle Gacheta sand, which produces in the Las Maracas-3 and Las Maracas-4 
wells, was flow tested in the Las Maracas-5 well and produced 30 degree API 
oil from a 6-foot perforated interval at maximum rate of 3,762 bopd under 
natural flow conditions, with a watercut of 0.1% at the end of the test. The 
well was tested over a 13 hour period and had to be choked back due to storage 
capacity limitations at the well site. The well will now be completed as a 
Gacheta producer following which the Tuscany 109 rig is expected to be skidded 
to drill the Las Maracas-6 well. 
The Las Maracas field is situated in the Los Ocarros block, Colombia, where 
Petroamerica holds a 50% participating interest. 
About Petroamerica: 
Petroamerica Oil Corp. is a junior oil and gas exploration and production 
company with activities in Colombia. Petroamerica has production coming from 
two oil discoveries and has interests in seven exploration blocks, all located 
in Colombia's Llanos Basin. Petroamerica's shares are listed on the TSX 
Venture Exchange under the symbol "PTA". 
Forward-Looking Statement 
This news release includes forward-looking statements related to the expected 
occurrences in relation to the properties identified including expectations 
regarding the results and timing of drilling test wells. A multitude of 
factors can cause actual events to differ significantly from any anticipated 
development and although Petroamerica believes that the expectations 
represented by such forward-looking statements are reasonable; there can be no 
assurance that such expectations will be realized. These forward looking 
statements are based upon assumptions that Petroamerica has made concerning 
the oil and gas industry in Colombia, the reliability of available data 
regarding the properties, and the continuing market for oil and gas. Risk 
factors may include the uncertainty of conducting operations under a foreign 
regime, the availability of labour and equipment, the fluctuating price of oil 
and gas, and Petroamerica's dependence upon other participants in the property 
areas. Neither Petroamerica nor any of its subsidiaries nor any of its 
officers or employees guarantees that the assumptions underlying such 
forward-looking statements are free from errors, nor do any of the foregoing 
accept any responsibility for the future accuracy of the opinions expressed in 
this document or the actual occurrence of the forecasted developments. 
Although the Company believes that the expectations represented by 
theforward-looking statements contained herein are reasonable, undue 
reliance should not be placed on the forward-looking statements because there 
can be no assurance that such expectations will be realized. The 
forward-looking statements contained in this document are made as of the date 
hereof and the Company undertakes no obligation to update publicly or revise 
any forward-looking statements or information, whether as a result of new 
information, future events or otherwise, unless so required by applicable 
securities laws. 
Data obtained from the initial testing results at the referenced wells, which 
may include barrels of oil produced and levels of water-cut, should be 
considered to be preliminary until a further and detailed analysis or 
interpretation has been done on such data. The test results disclosed in this 
press release are not necessarily indicative of long-term performance or of 
ultimate recovery. The reader is cautioned not to unduly rely on such results 
as such results may not be indicative of future performance of the well or of 
expected production results for the Company in the future. 
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. 
Nelson Navarrete President and CEO 
Colin Wagner CFO 
Ralph Gillcrist Executive Vice President Exploration & Business Development 
Tel Bogota, Colombia: +57-1-744-0644 Tel Calgary, Canada: +1-403-237-8300 Web 
SOURCE: Petroamerica Oil Corp. 
To view this news release in HTML formatting, please use the following URL: 
CO: Petroamerica Oil Corp.
ST: Alberta
-0- Nov/15/2012 21:10 GMT
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