Petro Vista Energy Corp.
TSX VENTURE : PTV

Petro Vista Energy Corp.

August 27, 2010 16:30 ET

Petro Vista Energy Corp. Closes C$3,000,000 Private Placement of Convertible Notes

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 27, 2010) -

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Petro Vista Energy Corp. (TSX VENTURE:PTV) ("Petro Vista" or the "Company"), an independent oil and gas exploration and production company, announces the completion of its C$3,000,000 private placement of convertible promissory notes (the "Notes") previously announced on August 17, 2010. 

The proceeds of the private placement will be used by the Company for general working capital purposes, including the payment of outstanding liabilities and the balance of outstanding completion costs on the Tartaruga development well being the balance of the Company's obligations to earn its interest in the Tartaruga Block.

The Company did not pay any commissions or fees in connection with the private placement.

All securities issued in connection with this private placement are subject to a hold period in Canada that expires on December 28, 2010, in addition to such other restrictions as may be applicable under securities laws outside Canada.

About Petro Vista Energy Corp.

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 www.pvecorp.com provides additional information about the Company's plans, including photographs and other information with respect to its operations and assets.

ON BEHALF OF PETRO VISTA ENERGY CORP.

Read B. Taylor, President and CEO

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company's securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available. Any public offering of securities in the United States must be made by means of a prospectus that contains detailed information about the Company and its management, as well as financial statements.

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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