Petro Vista Energy Corp.
TSX VENTURE : PTV

Petro Vista Energy Corp.

December 09, 2009 13:06 ET

Petro Vista Receive Shareholders Approval of the Creation of a New Control Person

SAN CLEMENTE, CALIFORNIA--(Marketwire - Dec. 9, 2009) - Petro Vista Energy Corp. (TSX VENTURE:PTV) (the "Company") is pleased to announce that further to its news release dated October 13, 2009, it has received shareholder approval to the creation of a new control person involving Petroamerica Oil Corp. ("Petroamerica") formerly Cantrell Capital Corp. Consequently, the Company has completed the issuance of 16,000,000 units (the "Units") to Petroamerica at a price of C$0.20 per Unit. Each Unit consists of one common share and one common share purchase warrant which is exercisable to purchase one additional common share at a price of C$0.30 per common share until October 9, 2011.

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 assets.

ON BEHALF OF PETRO VISTA ENERGY CORP.

"Read Taylor"

Read B. Taylor, President and CEO

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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