Petroamerica Appoints VP of Exploration

Petroamerica announced the appointment of Mr. Ralph Gillcrist as Vice President of Exploration.

Ralph Gillcrist brings to Petroamerica a wealth of experience with more than 20 years in exploration and production worldwide. Mr Gillcrist has worked for the companies Union Texas Petroleum and LASMO and while at the latter, lived and worked in Colombia from 1995 to 1998. For the last nine years, Mr. Gillcrist worked for CEPSA (Compania Espanola de Petroleos, S.A.) where he was the E&P Exploration Manager in Madrid. He holds a PhD in Structural Geology from the Royal School of Mines, Imperial College, London, UK, and a BSc in Geology from Portsmouth University, UK. A British citizen, he has lived and worked in the United Kingdom, Italy, Colombia, Venezuela and Spain.

Ms. Anh Vardalos, the former Vice President of Exploration, will remain with Petroamerica, assisting Mr. Gillcrist on a part time basis. The Company would like to take this opportunity to thank Ms. Vardalos for her past and future efforts.