PetroNova Inc is a Colombia-based company engaged in the exploration, acquisition and development of oil and natural gas resources in South America, specifically in Colombia. The Company�s assets include various participating interests in the Colombian Blocks: the Putumayo 2 (PUT 2) and the Tinigua block, which are located in the Caguan-Putumayo Basin and operated by the Company, and the non-operated CPO-6, CPO-7 and CPO-13, which are located in the Llanos Basin. As of December 31, 2011, the Company owned such subsidiaries as PetroNova International Inc and PetroNova Colombia Inc, and Inepetrol Corp AB which was its majority shareholder.