LEVITTOWN, NY, Nov. 4, 2013 /CNW/ - Far Vista Petroleum Corp (FVSTA, PinkSheets)
The president states that he received instructions from the Board of Directors to cancel 195,973,767 common shares. The purpose of the cancellation is to decrease the number of shares outstanding thereby increasing the value of the remaining shares held by the Company's shareholders.
The president states, "The cancellation of this large block was made because we want to increase the share price of the outstanding stock."
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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