Petro Vista Announces Notification From the Brazil National Oil Agency of Clearance to Close the Sale of Petro Vista Energy Petroleo do Brasil Ltda.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 29, 2016) - Petro Vista Energy Corp. ("Petro Vista" or the "Company") (TSX VENTURE:PTV) is pleased to announce that the Agência Nacional do Petróleo, Gas Natural e Biocombustíveis ("ANP") has provided confirmation that no additional ANP approvals are required in order for the Company to proceed with the previously announced sale of of its wholly owned Brazilian subsidiary, Petro Vista Energy Petróleo do Brasil Ltda. ("PVEB"), to Maha Energy AB ("Maha"). Petro Vista and Maha will now proceed to close this transaction.

PVEB holds a 37.5% undivided working interest in the exploration and production contract covering the Tartaruga offshore hydrocarbon development block, located in the Sergipe Alagoas Basin in Brazil.

ON BEHALF OF PETRO VISTA ENERGY CORP.

Keith Hill, Chairman of the Board of Directors

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