Petro Vista Energy Corp. provides an operations update on its properties in Colombia and Brazil.

Petro Vista has recently acquired a large land base of over 230,000 gross acres totaling 17 blocks in proven basins in Colombia (2 blocks) and Brazil (15 blocks). A drilling program of up to 8 wells is moving forward and scheduled for Q4 2008. In support of these operations, Petro Vista has recently established a South America regional office, located in Bogota Colombia, led by Petro Vista’s Vice President – South America, Steven Benedetti, along with several experienced technical and management local staff. A second operations base is now in place in Aracaju, Brazil in the Sergipe Alagoas area where Petro Vista operates 4 Blocks.

On July 2, Petro Vista will complete the acquisition of a 47.42% working interest in the Morichito Block located in the Llanos Basin, Colombia.

Petro Vista has initiated reconnaissance operations, built and repaired roads including bridges and access roads, acquired land rights and environmental permits. Additional operations are underway.

Petro Vista has acquired a significant data base in the area and completed seismic reprocessing and other detailed well log evaluation studies in order to identify optimum drilling locations and reduce risk. Utilizing this integrated approach including 3D seismic interpretations and petrophysical analysis of well logs from nearby wells and existing producing wells including the existing Morichito #2 discovery well on the block. Petro Vista has identified several high potential high-quality reservoir sands along this proven Llanos structural trend. As a reference for the potential of these reservoirs, field analog wells in the area produced 1,350 barrels of oil per day (bopd) of 37 degree API oil.

Tags: Petro Vista Energy Corp.