Heavy Earth Resources Gets Colombia Shale Stake

To buy sole issued share of Petro Vista Energy Colombia Corp. with WI in 68,302 gross-acre La Maye Block in Lower Magdalena Valley Basin, Colombia.

Heavy Earth Resources Inc., through its subsidiary Deep Core Inc., entered into a purchase and sale agreement with Petro Vista Energy Corp. to acquire the sole issued share of Petro Vista Energy Colombia Corp., the operations of which include a working interest in the La Maye exploration and production contract in the Lower Magdalena Valley Basin, Colombia.

The La Maye block consists of approximately 68,302 gross acres and is surrounded by analog production, including the productive Cienaga de Oro and Cicuco formations. The Cienaga de Oro formation is sandstone and the Cicuco formation is reefal limestone over and around granite basement highs. Located updip of the Cicuco and Boquete fields, La Maye's geology is shallow-water high porosity sandstone.

An exploration well, the Noelia-1 was drilled on the La Maye block in October of 2009 and is awaiting testing. The company has identified three additional drilling prospects with multiple additional uphole zones and deeper potential horizons on the block.