LEVITTOWN, NY, Oct. 30, 2013 /CNW/ - Far Vista Petroleum Corp (FVSTA, PinkSheets)
The president is very pleased to announce that the Company has received
two major offers.
The Company received a purchase order from an oil distributor to buy on
a monthly basis 300,000 barrels of oil. "This is exciting news that
probably is a result of the discovery of the large additional deposit
of oil on our territory which has a common border with Lukoil. This
purchase would result in increased monthly revenues of approximately
Nevertheless, this new order for oil can be fulfilled without depending
on the new discovery.
This discovery of oil is attracting much attention and was not included
in the original evaluation.
The report of the estimated net oil reserves was completed on its
Chedtyiskoye Field by Miller and Lents Ltd, international oil and gas
consultants, having its offices in Houston, Texas.
The current oil reserves are "Proved, developed and producing" 1,584,000
barrels having a value of $166,320,000; "Proved undeveloped'
4,134,000 barrels having a value of $434,070,000; ' Probable '
10,351,000 barrels having a value of$1,086,855,000 and 'Possible'
14,201,000 barrels having a value of $1,491,105,000.
"We are most excited regarding the constant excellent offers that we
received during the past month,' says Alexander Plekhanov. He adds, " I
cannot comment at this time on the second offer; I have convened the
Board of Directors for an urgent meeting on Friday, November 1, 2013."
The Board will review the offer and report to the shareholders.
The president cannot divulge details of the offer pending discussions
with the members of the Board.
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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