Far Vista Petroleum Corp Reports Monstrous Oil Discovery
October 29 2013 - 8:00AM
Marketwired
Far Vista Petroleum Corp Reports Monstrous Oil Discovery
LEVITTOWN, NY--(Marketwired - Oct 29, 2013) - Far Vista
Petroleum Corp (OTC Pink: FVSTA) 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.
Contact: Alexander Plekhanov EMAIL: info@farvistapetro.com
Far Vista Petroleum (CE) (USOTC:FVSTA)
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