Suroco Energy Inc.

July 15, 2014

Petroamerica Oil Corp. ("Petroamerica") and Suroco Energy Inc. ("Suroco") are pleased to announce that the previously announced plan of arrangement under the provisions of the Business Corporations Act (Alberta) among Petroamerica, Suroco and the shareholders of Suroco (the "Arrangement") was voted on and overwhelmingly approved by holders ("Suroco Shareholders") of common shares of Suroco ("Suroco Shares") at the reconvened Annual General and Special Meeting of Suroco Shareholders held on July 14, 2014 (the "Meeting").

The combined company holds working interests in 11 blocks covering over 1 million gross (439 thousand net) acres in the Llanos and Putumayo Basins in Colombia. For more information please visit the Petroamerica website at www.petroamericaoilcorp.com.

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