Petro Vista Energy Corp.
TSX VENTURE : PTV

Petro Vista Energy Corp.

January 26, 2012 18:37 ET

Petro Vista Closes $1.25 M Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 26, 2012) - Petro Vista Energy Corp. (TSX VENTURE:PTV) -

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

Petro Vista Energy Corp. ("Petro Vista" or the "Company") announces that it has closed the $1.25 million private placement announced on January 10, 11, and 12, 2012. The Company sold, on a non-brokered, private placement basis, an aggregate of 25 million units of the Company at a price of $0.05 per unit for gross proceeds of approximately $1.25 million.

As previously disclosed, each unit consisted of one common share and one common share purchase warrant. Each common share purchase warrant entitles the holder to purchase one additional common share at a price of C$0.10 per common share for a period of 3 years from the date of issue, subject to the Company's right to accelerate the expiry date of the warrants if the daily volume weighted average trading price of the common shares of the Company on the TSX Venture Exchange is equal to or exceeds $0.20 for a period of 10 consecutive trading days, commencing four months after the date the warrants are issued.

The proceeds of the Offering will be used by the Company primarily to provide short term funding for the Company's operations in Brazil and Colombia and for general working capital.

The Company may pay cash finders' fees in connection with the private placement in accordance with the policies of the Exchange.

All securities issued under the Offering and the shares issuable on the exercise of the warrants will be subject to a four-month hold period in accordance with applicable Canadian securities laws expiring on May 27, 2012.

Closing of this Offering has been conditionally accepted by the TSX Venture Exchange.

About Petro Vista Energy

Petro Vista Energy Corp. is an independent 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 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.

Keith Hill, Chairman of the Board of Directors

This press release includes "forward-looking information" including statements regarding the Offering that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding future fund raising and capital expenditures are subject to all of the risks and uncertainties normally incident with the raising of capital including, but are not limited to, financing risks and risk of regulatory change. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking information. Such forward-looking information represents management's best judgment based on information currently available. 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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