Petro Vista Energy Corp. PTVYF

Finally a fantastic news!!!

[Thechaser]

April 08, 2013 09:00 ET

Petro Vista Provides Operational Update

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 8, 2013) - Petro Vista Energy Corp. (TSX VENTURE:PTV) ("Petro Vista" or the "Company"), an independent oil and gas exploration and production company is pleased to provide the following operational update.

The operator, UP Petroleo Brasil Ltda, reports that the workover operation to restore production to the field has been successfully completed and the 7-TTG-1DP-SES well is now producing at an average rate of approximately 510 barrels of oil per day. The wellhead pressure has stabilized at 71 psi and the pump appears to be operating smoothly. Production for the last 16 days has been 8150 total barrels.

Petro Vista's Chairman Keith Hill commented, "We are very pleased that the operator has been able to establish production in the field and look forward to the resulting cash flow to help fuel the rejuvenation of the company. We plan to install a similar pump on the other production well in the field and are looking to drill additional development and exploration wells in the field later this year. We are also looking at several acquisition and business combination opportunities to help accelerate this growth."

The Company has earned the right to request a 37.5% working interest in the Tartaruga field. The assignment of this working interest is subject to several conditions, including approval from the consortium members and the Agencia Nacional do Petroleo, Gas Natural e Biocombustiveis ("ANP"). The Company is awaiting receipt of these approvals.