LEVITTOWN, NY,
Oct. 23, 2013 /PRNewswire/ - 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 Refinery.
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.
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.
SOURCE Far Vista Petroleum Corp.