Petro Vista Energy says that its wholly–owned Colombian subsidiary Petropuli Ltd. has signed a participation agreement with Golden Oil Corp., a private Korean company with oil and gas exploration and production assets in Colombia, Argentina and Canada. Pursuant to the Agreement, Petro Vista will farm–out a 35% participating interest in the Morichito Block located in the Llanos Basin, Colombia. Petro Vista will remain operator with a 35% participating interest.

Petro Vista President, Read B. Taylor said, "The farm–out agreement with Golden Oil, in combination with the farm–out of a 35% net working interest to Omega Energy Colombia and Green Power Corporation (as previously announced January 19, 2009), allows Petro Vista to complete the Morichito #2 discovery well and drill its two high–value prospects Morichito #1N and Morichito #3 at no capital cost. The farm–out is complementary to our strategy of leveraging value from our assets as well as a risk reduction tool on exploration blocks. We look forward to working with our partners and achieving our production goals in the Morichito block."

Tags: Petro Vista Energy Corp.