LEVITTOWN, NY, Nov. 5, 2013 /PRNewswire/ - Far Vista
Petroleum Corp (FVSTA, PinkSheets)
The president, Alexander
Plekhanov, is pleased to announce to its shareholders that
an offer of purchase was presented by a financial institution to
Far vista Petroleum Corp. The amount of $35
million was offered for the purchase of the Class B shares
and $0.45 for all the outstanding
shares of the Company.
The Board has advised Mr Plekhanov that the offer is
insufficient for its shareholders and to immediately forward a
proposal stating that the Board is willing to accept an offer of
$35 million for the Class B stock and
$0.62 per common share on condition
that it is not a mandatory sale but is open to the individual
shareholder's discretion to sell or refuse the offer. This counter
offer is open for acceptance until 12:00 November 7, 2013.
Upon acceptance, the Mr Plekhanov will release to the
shareholders the name of the financial institution (Bank) that has
made the offer.
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.