Petro Vista Energy Corp.

Petro Vista Energy Corp.

April 15, 2009 17:45 ET

Petro Vista-Operational Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 15, 2009) - Petro Vista Energy Corporation (TSX VENTURE:PTV) ("Petro Vista" or the "Company") announced today that it has commenced drilling operations on the Morichito #1N (A1) well located within the Morichito Block in the Llanos Basin in Colombia.

The Morichito #1N well is expected to reach the planned total depth of 6,700 feet within 18 - 20 days, and the Company anticipates announcing results mid-to-end of May 2009. The Company's primary targets include the Carbonera C7 and Mirador formations which have produced as high as 2,000 barrels of oil per day from nearby well analogs. This well is the first of two exploration wells at Morichito. The second well, Morichito #3, will be drilled with the same rig following the completion of M#1N and is expected to spud in the second quarter of 2009. The Company expects results from the M#3 well by mid-June 2009. Both prospects were identified on newly re-processed 3D seismic and show well-defined structural closures typical of fields in the Llanos Basin.

Following the completion of the 2009 work program on the Morichito Block, the Company intends to conduct a four-well exploration program on its La Maye Block in the Magdalena Basin, Colombia and commence initial seismic work on its Block SSJN-5, also in the Magdalena Basin, in partnership with SK Energy Corp.

The Company has granted stock options to certain of its directors, officers, employees and consultants to acquire up to 2,145,000 common shares of the Company. Each option is exercisable to acquire one common share of Petro Vista at a price of $0.20 until April 15, 2014. The options will vest in accordance with the Company's Stock Option Plan.

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 840,191 gross acres (449,480 net 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 and assets.


Read B. 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 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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