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Petro Vista Energy Corp.: Petro Vista Announces Spud of 1st Exploration Well La Maye Project, Colombia

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  Published in House and Home on Tuesday, September 22nd 2009 at 6:39 GMT by Market Wire
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SAN CLEMENTE, CALIFORNIA--(Marketwire - Sept. 22, 2009) - Petro Vista Energy Corp. ("Petro Vista") (TSX VENTURE:PTV) and its wholly owned Colombian subsidiary, Petropuli Ltda., announce the initiation of drilling activities (spud) on its La Maye Block, Lower Magdalena Valley Basin, Colombia, The "Noelia-1" well is the first of two planned exploration wells to be drilled and tested through the remainder of 2009, as part of a funded four well turn-key exploration program.

The La Maye Block is operated by New Horizon Energy, Inc. ("New Horizon") with Petro Vista owning a 25% working interest.

The drilling rig, "Rosie", owned by TOC Ltd., a Trinidad company wholly owned by New Horizon arrived at the well site on September 7th the rig and its crew completed a series of initial procedures and spud on September 21st. The Noelia-1 well will be drilled to a total depth (TD) of approximately 5,000 feet, with the primary objectives being Teritary carbonates of the Cienega de Oro Formation, immediately overlying basement. Basic drilling activities to TD are anticipated to take approximately 30 days with testing to follow as determined by logging results.

For additional information please see previous press releases and the La Maye Block independent technical evaluation completed by John Yu of Petrotech Engineering Ltd. for Petro Vista. The report is dated effective May 1, 2008 and entitled "Evaluation of Interest of Petro Vista Energy Corp. in the La Maye Block, Lower Magdelena Valley, Onshore Colombia". A copy of this report is available on Petro Vista's profile on SEDAR ([ www.sedar.com ]).

In addition, Petro Vista has granted stock options to an officer, an employee and a consultant to purchase up to 125,000 common shares of Petro Vista. Each option is exercisable to purchase one common share of Petro Vista at a price of C$0.20 until Sept 21, 2014. The options will vest in accordance with the Company's stock option plan.

About Petro Vista Energy

Headquartered in San Clemente, California, USA, Petro Vista Energy Corp., is an independent exploration company engaged in the acquisition, exploration and development of oil and natural gas properties located in South America. The Company has exploration, development and production rights to over 3,230,936 gross acres (930,629 net acres) in Colombia and Brazil. Petro Vista's website is [ www.pvecorp.com ].

ON BEHALF OF PETRO VISTA ENERGY CORP.

Read B. Taylor, President and CEO

This press release includes "forward-looking statements" including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Petro Vista. Statements regarding future production, reserve additions and capital expenditures are subject to all of the risks and uncertainties normally incident to the exploration for and development and production of oil and gas. These risks include, but are not limited to, financing risks, inflation or lack of availability of goods and services, environmental risks, drilling risks and regulatory changes. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Petro Vista does not assume the obligation to update any forward-looking statement, except as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.