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