Petroamerica Oil Corp has commenced drilling of the Balay-2 appraisal well in the Llanos Basin of Colombia.
The well is being drilled directionally by Nabors Drilling Rig No 119 from the same surface platform as the Balay-1 discovery well.
Balay-2 is expected to reach total depth by mid-December of this year.
The company, through its wholly owned Panamanian subsidiary, Petroamerica International Corp, is entitled, pursuant to a farmin agreement with Petrobras Colombia, to a 15% participating interest in the Balay Block, subject to the approval of the National Hydrocarbon Agency.
Petroamerica is a junior oil and gas company operating in Colombia.