Update from May 7, 2012
" Petro Vista Provides Corporate UpdateFont size: A | A | A10:09 AM ET 5/7/12 | Marketwire
Petro Vista Energy Corp. (TSX VENTURE: PTV) ("Petro Vista" or the "Company"), an independent oil and gas exploration and production company, provides the following corporate update.
In the Tartaruga field, Sergipe Basin, Brazil, the Operator UP Petroleo Brasil Ltda. currently has a workover rig on location to install Electrical Submersible Pumps ("ESP's") in the two existing production wells in the field. These pumps are expected to enhance production. These operations are expected to be completed by the end of May at which point an update will be issued.
The Company has earned the right to request a 37.5% working interest in the Tartaruga field. The assignment of this working interest is subject to several conditions, including approval from the consortium members and the Agencia Nacional do Petroleo, Gas Natural e Biocombustiveis ("ANP"). The Company is awaiting receipt of these approvals. "