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Last updated on April 16, 2014 at 16:55 EDT

Far Vista Petroleum Corp becomes oil producer

October 23, 2013

LEVITTOWN, NY, Oct. 23, 2013 /PRNewswire/ – Far Vista Petroleum Corp (FVSTA, PinkSheets) The CEO of the Company announces that it is proceeding
with the acquisition of an oil refinery under excellent conditions.
Through this acquisition, the company would not only be an oil producer
but would also act as a refinery to process its own products as well as
those of the other producers in this oil rich area.

The Refinery is situated in the Usink region which is approximately 15
miles from the Chedty oil fields.

Alexander Plekhanov, president and CEO, is overwhelmed,” First, the
discovery of additional oil reserves on our territory, and now the
acquisition of the Usink Oil Refinery. This acquisition would permit us
to be a key player within the region.” He adds, ‘Since we became a
public company in the United States, we are attracting interest from
the industry as well as from giants like Lukoil.”

In the meantime, following the news release of October 3 relating to the
additional and large deposit of oil on our land discovered by our
neighbor, Lukoil, the Board is reviewing the possibility of a joint
venture with Lukoil. The oil that was discovered lies on the area
adjacent to both the properties of Far Vista and Lukoil.

“Because of our excellent record regarding environmental issues, we
received permission from all government agencies, the Subsoil
Department of the Komi Republic, the Ministry of Natural Resources, the
Department of Nature Control and the Russian Technical Control of the
Republic, to commence work on these reserves as soon as this November,
”says the company’s geologist.

About Far Vista Petroleum Corp

Far Vista Petroleum Corp has business objectives of interacting with
Russian operators in the oil/gas industry with the goal of building a
vertically integrated petroleum company based on opportunities
available in the Russian Federation. This will be accomplished through
acquisitions of interests to develop crude oil sites with proven
reserves by means of equity investment or joint ventures.

Forward-Looking Statements

This news release contains “forward-looking statements,” as that term is
defined in Section 27A of the United States Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Statements in this
press release that are not purely historical are forward-looking
statements and include any statements regarding beliefs, plans,
expectations or intentions regarding the future.

SOURCE Far Vista Petroleum Corp.


Source: PR Newswire