Petro Vista Energy Corp.

Petro Vista Energy Corp.

December 10, 2009 11:24 ET

Petro Vista Commences Drilling Operations in Brazil

SAN CLEMENTE, CALIFORNIA--(Marketwire - Dec. 10, 2009) -  Petro Vista Energy Corp. (TSX VENTURE:PTV) ("Petro Vista" or the "Company"), a Canadian independent oil and gas exploration company, have commenced drilling operations on a new development well 7-TTG-1DP-SES at the Tartaruga Oil Field in Brazil.

Operations began today with the arrival of a Coil Tubing Unit (provided by Halliburton) to conduct pre-drill operations. The drilling rig is expected to arrive on December 17, 2009 to begin rigging up prior to the holidays. Planned spud date is on or about January 2, 2010 and the total planned depth of -3315m on the well is anticipated to be reached by January 30, 2010. If successful, the well will be immediately completed as a production well tied into existing facilities.

Petro Vista has a 27.3% net revenue interest in the new development well in addition to its share of production in the existing producing well. UP Petroleo Ltda is operator of the block and Petrobras, the Brazilian state oil company, also hold a working interest. The Tartaruga field was originally discovered by Petrobras in 1994 and has been producing for over 15 years.

The proposed development well is planned to target the crest of the 4 way faulted anticline structure defined by 3D seismic. The well will penetrate a prospective section of multiple "stacked" reservoirs (from 6 to 27 individual sands) approximately 250 m SW of the current producing well and is expected to be approximately 40-50m updip. One of these sands had an initial production rate of 855 bopd and 539mcfd. Closures at these sands range from estimated 200 acres to 750 acres.

The crude oil is light high quality 41 degree API. Existing high quality field facilities are in place including the tank batteries and separators. The crude oil is currently being trucked and, once higher production rates are established, it is planned to construct a tie-in to an existing pipeline approximately 5 km to the West of the Tartaruga Block.

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 169,000 acres gross (59,000 net) leasehold acres in Colombia and Brazil. The Company's website at provides additional information about the Company's plans, including photographs and other information with respect to its operations and asset.


"Read Taylor"

Read B. Taylor, President and CEO

BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

This press release includes "forward-looking statements" including forecasts, estimates, expectations and objectives for future operations that subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. 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, 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. The Company 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.

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