LEVITTOWN, NY, Oct. 23, 2013 /CNW/ - Far Vista Petroleum Corp (FVSTA, PinkSheets) The CEO of the Company announces that it is proceeding with the acquisition of an oil refinery under excellent conditions. 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.
The Refinery is situated in the Usink region which is approximately 15 miles from the Chedty oil fields.
Alexander Plekhanov, president and CEO, is overwhelmed,'' First, the discovery of additional oil reserves on our territory, and now the acquisition of the Usink Oil Refinery. This acquisition would permit us to be a key player within the region.'' He adds, 'Since we became a public company in the United States, we are attracting interest from the industry as well as from giants like Lukoil.''
In the meantime, following the news release of October 3 relating to the additional and large deposit of oil on our land discovered by our neighbor, Lukoil, the Board is reviewing the possibility of a joint venture with Lukoil. The oil that was discovered lies on the area adjacent to both the properties of Far Vista and Lukoil.
"Because of our excellent record regarding environmental issues, we received permission from all government agencies, the Subsoil Department of the Komi Republic, the Ministry of Natural Resources, the Department of Nature Control and the Russian Technical Control of the Republic, to commence work on these reserves as soon as this November, ''says the company's geologist.
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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