LEVITTOWN, NY, Oct. 31, 2013 /PRNewswire/ - Far Vista
Petroleum Corp (FVSTA, PinkSheets)
The president of the Company has given instructions to its
attorneys to study the possibilities of being listed on a higher
exchange in both the US as well as in Europe.
The president states," With the new huge discovery of oil as
well as with the purchase of the Usink Refinery, our revenues and
capitalization will undergo a substantial increase.
This will greatly affect our market value and we must be prepared
to proceed onto a higher exchange."
The Company recently discovered a huge oil deposit on the border
of its territory with that of Lukoil after the latter advised the
Company of its discoveries in this immediate area.
Lukoil is Russia's second
largest oil producer and is listed on NASDAQ and its stock is
trading at $65.28 at yesterday's
closing. The president adds, 'Lukoil's listing on NASDAQ was very
profitable for them and we foresee a similar path to follow. Based
on our assets and reserves, our share price is greatly
undervalued on the OTC market and we must look to a higher listing
which reflects the true value of oil producers.''
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.