LEVITTOWN, NY, Oct. 31, 2013 /CNW/ - Far Vista Petroleum Corp (FVSTA, PinkSheets)
The president of the Company has given instructions to its attorneys to
study the possibilities of being listed on a higher exchange in both
the US as well as in Europe.
The president states," With the new huge discovery of oil as well as
with the purchase of the Usink Refinery, our revenues and
capitalization will undergo a substantial increase. This will greatly
affect our market value and we must be prepared to proceed onto a
The Company recently discovered a huge oil deposit on the border of its
territory with that of Lukoil after the latter advised the Company of
its discoveries in this immediate area.
Lukoil is Russia's second largest oil producer and is listed on NASDAQ
and its stock is trading at $65.28 at yesterday's closing. The
president adds, 'Lukoil's listing on NASDAQ was very profitable for
them and we foresee a similar path to follow. Based on our assets and
reserves, our share price is greatly undervalued on the OTC market and
we must look to a higher listing which reflects the true value of oil
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.
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.
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