Petro Vista Energy Corp.

Petro Vista Energy Corp.

April 18, 2008 06:30 ET

Petro Vista Energy Shareholder Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 18, 2008) - Petro Vista Energy Corp. (TSX VENTURE:PTV) (the "Company"), an independent oil and gas exploration company, is pleased to provide a shareholder update on the Company's veteran management team, board of directors and advisory board. Petro Vista Energy has assembled a team skilled in recognizing and developing opportunities within the upstream petroleum industry in South America. The Company's experienced management team, directors and advisory board together provide shareholders with a seasoned group of professional geologists and industry executives.

The Company is currently negotiating several important deals in Colombia. The following is available to provide an overview of the Petro Vista strategy:

- Extensive experience in the upstream oil and gas business around the world including Devon Energy Brazil Ltd. (NYSE:DVN; Market Cap USD $38.79 B), Petrominerales Colombia Ltd. (TSX:PMG; Market Cap USD $1.6 B), Tanganyika Oil Company Ltd. (TSX.V:TYK; Market Cap USD $1.2 B), and Occidental Petroleum Corp. (NYSE:OXY; Market Cap USD $68.36 B).

- Experience on the boards of junior and mid-tier exploration and production companies.

- Successful negotiations with foreign governments, specifically those in Latin America.

Management Team & Board of Directors

Read B. Taylor - President, Chief Executive Officer and Director

Read Taylor has held management positions in the oil industry for over 26 years. Read recently served as General Manager and President of Devon Energy Brazil Ltd. (NYSE:DVN; Market Cap USD $38.79 B) where he was responsible for the discovery of the 200Mbbl Polvo Field in the Campos Basin, Brazil. Prior to his work in Brazil, Read served with UNOCAL (now "Chevron") and Anadarko. His experience includes interpretation in geophysics and geology for exploration and development, gas marketing and business development. He holds a B.Sc. in International Business from Pepperdine University, a B.Sc. in Geophysics and M.Sc. (Masters) degree in Geology from University of Southern California, USC.

Steven Benedetti - Vice President, South America

Steven Benedetti has over 30 years of upstream oil and gas experience in the United States and international locations from Russia to Latin America. Steven was one of the principal architects in transforming Petrominerales Colombia Ltd. (TSX:PMG) from a small explorer with a $3 share price to an active producer with a current $12+ share price and market capitalization in excess of $1 billion. As Vice President of Petrominerales, Steven negotiated over 10 exploration licenses and four Technical Evaluation Agreements (2.1 million acres) through Colombia's National Agency for Hydrocarbons (ANH), directly contributing to the company's proved-plus-probable reserve increase from 6.8 million barrels of oil (MMBO) in 2003 to 24.5 MMBO in 2006 and production increase from 800 barrels of oil per day (BOPD) from year end 2005 to 3,500 BOPD in Q2 2007. Steve received a B.Sc. Degree in Geology from Idaho State University in 1974 and a Master of Science in Geology from Texas Christian University in 1976.

John Nelson - Vice President, Exploration

John Nelson has over 20 years of oil industry experience in geology and geophysics. John served as President and Director of Winslow Resources Inc., which was acquired by DualEx Energy International Inc. in 2007 and is currently a Director of DualEx Energy and Resource Hunter Capital Corp. Previously John served as Exploration Geologist and Project Manager in numerous worldwide frontier areas for Mobil Oil Corp. (now ExxonMobil NYSE:XOM). Since that time he has founded two private companies providing geophysical services and technology to Canadian based oil and mining companies. John holds a B.Sc. and M.Sc. Degrees in Geology from Michigan State University and is a member of APEGGA, AAPG, CSPG and CSEG.

Keith Hill - Director

Keith Hill has over 22 years experience in the oil industry, primarily in international oil and gas exploration and production. Keith is currently President and Chairman of Pearl Exploration and Production Ltd. Keith previously founded and served as President and CEO of Valkyries Petroleum Corp. (later acquired by Lundin Oil in 2006) and General Manager of Lundin Malaysia and Lundin Sudan. In addition, he worked 12 years for Shell Oil (NYSE:RDS-B) and Occidental Petroleum (NYSE:OXY) in exploration and new ventures. Keith holds a B.Sc. in Geophysics and a M.Sc. in Geology from Michigan State University as well as a MBA in International Business from St Thomas University, Houston Texas.

Adam R. Kniec - Chief Financial Officer

Adam Kniec is a Canadian Chartered Accountant and a US Certified Public Accountant designated in the State of Illinois. He has over 11 years of high-quality auditing, accounting and financial reporting experience with Canadian and US publicly trading companies including many oil and gas companies.

Darren Devine - Vice President, Corporate Secretary and Director

Darren Devine is currently the President of Chelmer Consulting Corp., a Canadian corporate finance advisory group that specializes in cross-border M&A, financing and stock exchange listings for junior private and public companies. Darren also currently serves as Corporate Secretary for Galena Capital Corp. (CDNX:FYI.V) which is a premium mining company operating in both Canada and Latin America. Darren is a qualified lawyer who practiced exclusively in Securities and Corporate Finance. Darren is a director and advisory to a number of private and public companies in the energy sector, including Impact Petroleum, Centric Energy and Titan Uranium.

Ian Baron - Director

Ian Baron has worked in the upstream oil and gas industry for over 25 years. He worked through the ranks of the industry from oil-field operations to serving as CEO of an independent oil company listed on the London Stock Exchange. He has significant experience in the Middle East and Caspian areas through which he developed extensive business and political networks. He has held positions as CEO of Dragon Oil PLC, VP of Business Development for Conoco Middle East Ltd. (now ConocoPhillips, NYSE:COP) in Dubai, and Exploration Director of two listed oil companies in Australia. Ian is a Geology graduate from the University of Manchester England.

Max Pozzoni - Director

Max Pozzoni has been actively involved in the oil and gas industry for the past decade, working for industry oil service Titan Schlumberger Oilfield Services in the United States and South America. Max currently serves as a Director of Impact Petroleum Corp., an independent energy exploration company focused on exploring the gas rich Barnett Shale region in the Fort Worth Basin of Texas. In addition, Max is involved in lead management roles of two Texas based public companies which have raised in excess of $20 million towards various exploration and drilling opportunities and can now count several producing wells in Texas and Louisiana. He has also worked in the past with Lehman Brothers Inc. Max holds a B.Sc. in International Business from the University of Kansas and an MBA from the prestigious London Business School in London, England.

Advisory Board

Gary Guidry - Advisor

Gary Guidry draws on his extensive background of energy industry business management. Gary is currently Director of Pearl Exploration and Production Ltd. and President and CEO of Tanganyika Oil Company Ltd. Gary formerly served as President and CEO of Calpine Natural Trust, President of AEC International (now Encana NYSE:ECA, TSX:ECA.TO) and in Senior Management positions at Nexen (NYSE:NXY, TSX:NXY.TO), Benton Oil and Gas (CDNX:BTC.V) and Occidental Petroleum Corporation (NYSE:OXY). Gary holds a B.Sc. in Petroleum Engineering and is currently a registered Professional Engineer in Alberta, Canada.

Andy Mirkin - Technical Advisor

Andy Mirkin is President and Founder of Rincon Energy LLC, a highly experienced and successful company actively involved in generating oil and gas prospects and developing fields around the world. Founded in 2001, Rincon has a team of professionals with more than 130 years of collective experience that takes an integrated approach to generating exploration opportunities using 3D seismic combined with geologic expertise. Rincon has extensive experience in seismic processing and currently performs in-house pre-stack time migration, and high-resolution velocity analysis and CDP gather conditioning for AVO interpretation. Andy has over 28 years experience in Asset Management, New Ventures, and E&P geology. He has worked with Shell Oil, Saga Petroleum, and Benton Oil & Gas Co.

CEO and President Read Taylor stated: "We intend to make Petro Vista Energy a leading player in this expanding upstream sector in South America and are determined to be a significant independent oil and gas producer. Through the expertise of the management team and advisors we've assembled, we believe that we have the right tools necessary to realize this goal."

VP South America Steven Benedetti commented: "Taking into consideration the always developing stories regarding discoveries of hydrocarbons in Brazil and Colombia, we believe that the opportunities we've aligned for our company will be commercially viable and economically stable. The political climate in each region is favourable and we believe each country will cooperate with us and our partners to develop our prospects to aid in the supply to satiate the market's demands."

About Petro Vista Energy

Headquartered in Vancouver, Petro Vista Energy Corp., is an independent exploration company engaged in the acquisition, exploration and development of oil and natural gas properties located in the South America. The Company has exploration, development and production rights to approximately 162,108 gross (64,664 net) leasehold acres in Colombia and Brazil. The Company's website at provides additional information about the Company's plans, including photographs and other information with respect to its operations.


Read Taylor, President and CEO

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 are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Corporation. 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. Corporation does not assume the obligation to update any forward-looking statement.

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

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