Petro Vista Energy Corp. PTVYF

Share Count per Feb MDA at Sedar

[geomean]

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DISCLOSURE OF OUTSTANDING SHARE DATA

During the three months ended December 31, 2009, 2,133,332 warrants were exercised, 25,000,000 shares were issued at a price of .20 per unit, 25,000,000 warrants were issued, 1,500,000 shares and 1,500,000 warrants were issued as finder’s fee, 1,000,000 loan bonus shares were issued valued at .18 per share, and 150,000 options were granted. As of the date of this MD&A, the Company had 108,873,554 shares outstanding. The following table summarizes maximum number of common shares outstanding as at December 31, 2009 and as of the date of this MD&A if all outstanding options and warrants were converted to shares:                                             December 31, 2009		As of the Date of this MD&A
Common shares	91,554,954		108,873,554
Warrants to purchase common shares	52,279,122		68,650,522
Options to purchase common shares	4,600,000		6,275,000
148,434,076		183,799,076