Far Vista Petroleum Corp is pleased to announce that, having completed the acquisition of all the outstanding shares of CJSC Chedty Neft, the Company is active in the oil industry with important reserves.
A report of the estimated net oil reserves was completed on its Chedtyiskoye Field by Miller and Lents Ltd, international oil and gas consultants, having its offices in Houston, Texas.
Proved, probable and possible reserves were estimated in accordance with standards of the Society of Petroleum Engineers. No director, officer, or key employee of Miller and Lents has any financial ownership in Chedty Neft or any related company.
As new wells are drilled, portions of these probable and possible reserve quantities may be upgraded.