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Last updated on April 23, 2014 at 13:57 EDT

Far Vista Petroleum Corp reports monstrous oil discovery

October 29, 2013

LEVITTOWN, NY, Oct. 29, 2013 /PRNewswire/ – Far Vista Petroleum Corp (FVSTA, PinkSheets) The president of the Company is ecstatic to announce that
it has discovered a huge oil deposit. It had previously announced that
it was informed by Lukoil that a discovery of a sizeable deposit of
oil at the boundary of its territory with that of Far Vista and that
this oil is common to both areas. This was a result of the drilling of
well no 15 on its Lekker field . At a depth of 3790 meters the well has
opened a high pressure oil saturated deposit. Considering the close
proximity of the Lukoil’s Lekker field with Far Vista’s Chedty field
and the fact that they both have a common geomorphology of Lower
Devonian and Silurian deposits, the presence of a hydrocarbonic mine of
a size no less that 36 square kilometers is highly probable.

The report states that no less than 5 hydrocarbonic mines can be
predicted with geological reserves up to 10 million tons. An expert
committee advised the Board of Far Vista about this high probability of
oil reserves in exploring at least 4 new horizons from the Lower
Permian to the Lower Devonian discharges in the south-western part of
Chedty field.

Mr Plekhanov, president, states, ‘This is excellent news from Lukoil
and we may possibly envisage a common exploration of this area and a
possible joint venture to extract the oil more efficiently and
sooner.”

About Far Vista Petroleum Corp

Far Vista Petroleum Corp has the 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 investment or joint ventures in oil/gas
operations. Its first acquisition is that of CJSC Chedty Neft

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.

Actual results could differ from those projected in any forward-looking
statements due to numerous factors. Such factors include the
fluctuations in the price of gold and in the event of severe weather
conditions. These forward-looking statements are made as of the date of
this news release, and the Company assumes no obligation to update the
forward-looking statements, or to update the reasons why actual results
could differ from those projected in the forward-looking statements.
Although the Company believes that any beliefs, plans, expectations and
intentions contained in this press release are reasonable, there can be
no assurance that such beliefs, plans, expectations or intentions will
prove to be accurate.

SOURCE Far Vista Petroleum Corp.


Source: PR Newswire