2009-08-15-2008-11-01-2008-11-01

Bought remaining 47.8% WI in Morichito Block in Llanos Basin, now owns 100%.

Petro Vista Energy Corp., San Clemente, Calif., (Toronto Venture: PTV) has acquired the remaining 47.8% working interest in the Morichito Block in the Llanos Basin in Colombia from Eagle Transport Ltda. for US$3 million. The company now owns 100% of the block through its Colombian subsidiary, Petropuli Ltda. Petro Vista paid US$500,000 in cash, US$2.5 million from 40% net production on the block, issued a 1% net production royalty over its production from the block and waived Eagle's obligations to repay its working interest commitments expended by Petropuli Ltda. The Morichito Block comprises 57,252 gross acres with a net potential production of 2,100 barrels of oil per day. Estimated proven and probable reserves are 141,350 barrels plus contingent resources of 3.47 million barrels. Petro Vista focuses on South America with rights to more than 169,000 acres gross (59,000 net) in Colombia and Brazil.