LEVITTOWN, NY, Oct. 23, 2013 /CNW/ - Far Vista Petroleum Corp (FVSTA, PinkSheets) The CEO of the Company announces that it has obtained
financing in the amount of $45 million for the acquisition of the Usink
A few months ago, the Board had appointed Grigory Gabrielyants, vice
president of the Company, doctor of geological and mineralogical
sciences, to immediately commence the proceedings to obtain a financing
for the acquisition.
Mr Gabrielyants has successfully put his expertise to work on his long
list of connections in the oil industry to obtain this financing to
complete the transaction. He states, 'Over the years I have
successfully dealt with many banks and commercial funds that operate
within the oil industry. My activities while I was the Minister of
Geology permitted me to participate in many transactions involving
governmental and private sector activities as well as a mixture of
both. All these transactions were in the field of natural resources
such as oil and general mining.''
The Refinery is situated in the Usink region which is approximately 15
miles from the Chedty oil fields.
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.
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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