Petro Vista Energy Corp.
TSX VENTURE : PTV

Petro Vista Energy Corp.

November 20, 2009 13:58 ET

Petro Vista Energy Corp.: Operational Update-Noelia #1 Well in La Maye Block

SAN CLEMENTE, CALIFORNIA--(Marketwire - Nov. 20, 2009) - Petro Vista Energy Corp. (TSX VENTURE:PTV) ("Petro Vista" or the "Company"), a Canadian independent oil and gas exploration company, announces that it has reached TD at its Noellia #1 (the first of several planned wells) recently drilled in the Lower Magdalena Valley Basin Colombia, La Maye Block. The well encountered several oil and gas shows and has been cased for future testing. The Company holds a 25% participating interest in the block.

The well was drilled over 31 days to a total depth of 3,341 feet into basement. The top of the prospective Cienega de Oro Cicuco Limestone was encountered at 3,290 feet measured depth, 82 feet high to our prognosis.

Read Taylor, President of Petro Vista, stated, "Although it's still early in the evaluation process we are seeing that the hydrocarbon system is working for both gas and oil and potentially multiple reservoirs and play types may exist in the La Maye block along this proven arch."

The partners are in the process of finalizing plans for testing this well following the drilling of a second exploration well using a completion rig. This will be completed by mid February 2010, for weather reasons. Rig limitations and availability require that testing of this well awaits the drilling of the second well on the block. Completions of both wells would then occur back to back with a mobilized completion rig, better equipped and at lower cost.

Prior to drilling the second exploration well, the partners will incorporate new data from the drilling of the first well in order to identify all prospective play types in the block and those areas where prospective Tertiary clastic and limestone's reservoirs of the Cienega de Oro with the highest chance of success can be found. The La Maye Block lies along the southeastern flank of the Plato sub-basin of the Lower Magdalena Valley Basin and along the eastern edge of the Cicucco Arch which extends from the Cicucco Field 25 kms to the west of the 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 www.pvecorp.com provides additional information about the Company's plans, including photographs and other information with respect to its operations and asset.

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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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