VERY GOOD NEWS!This is very good news, and more to come. Look at all the strong bids that came in from instituitions.....something is up and they know this is a good deal...great buying opp here....do NOT listen to the bashers who wanna get cheap shares!!!
GLTA
Petro Vista's Noellia No. 1 well shows oil, gas
2009-11-20 14:24 ET - News Release
Mr. Read Taylor reports
PETRO VISTA ENERGY CORP.: OPERATIONAL UPDATE-NOELIA #1 WELL IN LA MAYE BLOCK
Petro Vista Energy Corp. has reached total depth at its Noellia No. 1(the first of several planned wells) recently drilled in the LowerMagdalena Valley basin in Colombia, La Maye block. The well encounteredseveral oil and gas shows and has been cased for future testing. Thecompany holds a 25-per-cent participating interest in the block.
The well was drilled over 31 days to a total depth of 3,341feet into basement. The top of the prospective Cienega de Oro Cicucolimestone was encountered at 3,290 feet in measured depth, 82 feet highto the company's prognosis.
Read Taylor, president of Petro Vista, stated, "Although it'sstill early in the evaluation process, we are seeing that thehydrocarbon system is working for both gas and oil, and potentiallymultiple reservoirs and play types may exist in the La Maye block alongthis proven arch."
The partners are in the process of finalizing plans for testingthis well following the drilling of a second exploration well using acompletion rig. This will be completed by mid-February, 2010, forweather reasons. Rig limitations and availability require that testingof this well awaits the drilling of the second well on the block.Completions of both wells would then occur back to back with amobilized completion rig, better equipped and at lower cost.