Petroamerica Oil Corp., together with its subsidiaries, is engaged in hydrocarbon exploration, production and development activities in Colombia. The Company has either a beneficial or legal interest in the six blocks located in the Llanos Basin: Los Ocarros (50% working interest (WI)), CPO-1 (50% WI), LLA-10 (50% WI), El Eden (40% WI), El Porton (25% WI) and Balay (15% WI). Three of the blocks, Los Ocarros, Balay and El Eden, contain oil discoveries or producing fields. These properties cover approximately 783 thousand gross acres or 287 thousand net acres. Its CPO-1 Block has an area of 152,652 gross acres (76,326 net acres) and is located 80 kilometers north of the Rubiales field and on trend and to the north east of the Caracara field in the Llanos Basin of Colombia. The Company�s LLA-10 Block consists of 189,536 gross acres (94,768 net acres). The Company has exploration and production contract for SSJN-5 Block area, consisting of 570,453 gross acres (142,613 net acres).