Far Vista Petroleum Corp reports monstrous oil discovery

LEVITTOWN, NY, Oct. 29, 2013 /CNW/ - 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.

For further information:

Contact:

Alexander Plekhanov

EMAIL: info@farvistapetro.com

Profil de l'entreprise

Far Vista Petroleum Corp.

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