2009-09-21-2009-06-18-2009-07-27

Acquired 77% WI in Martin Creek area of BC, AB, gaining 5,900 BO/d, 18.8 MMBOE 2P.

NuVista Energy Ltd., Calgary, (Toronto: NVA) has closed its acquisition of properties in the Martin Creek area of northeastern British Columbia and in northwestern Alberta from an undisclosed seller for C$174 million in cash. NuVista values the deal at C$15.42 per proved barrel, C$10.90 per proved plus probable barrel, and C$29,800 per flowing barrel. The acquired properties will form a new core area for NuVista characterized by longer life reserves. NuVista has identified more than 30 drilling opportunities. Current production is approximately 5,900 barrels of oil per day (82% gas; 96% operated) with an average working interest of 77%. The majority of the liquids production is light oil production from Keg River pools in northwestern Alberta. Proved plus probable reserves were estimated by Sproule Associates Ltd. to be 18.8 million barrels of oil equivalent as of March 31. Included in the acquisition is approximately 140,000 net acres of undeveloped land with an average working interest of 71%. The Martin Creek property in northeastern British Columbia property represents approximately 75% of the total value and 55% of the total production. The northwestern Alberta properties include gas production primarily from the Bluesky and Debolt formations at Sousa, Rainbow and Fontas, and Keg River light oil production at Rainbow and Sousa. The effective date is April 1.