LEVITTOWN, N.Y., Nov. 6, 2013 /PRNewswire/ - Far Vista
Petroleum Corp (FVSTA, PinkSheets)
The president states that the Board has been reviewing the offer
to purchase the outstanding shares of the Company with the
assistance of its accountants. It concludes that the past activity
of its shares on the market indicate that a company with such
assets and potential does not receive an equitable evaluation on
the OTC market.
The current stock price is way below the true market value. The
president adds, "Two days ago we announced the cancellation of
195,973,767 common shares to decrease the number of shares
outstanding thereby increasing the value of the remaining shares
held by the Company's shareholders. Although it represents almost a
third of the issued shares, this was not reflected in the price of
the shares on the market. Mathematically, this alone should
increase the value of the remaining shares. This indicates that it
is imperative that the Company be listed on a higher exchange."
About Far Vista Petroleum Corp
Far Vista Petroleum Corp has business objectives
of interacting with Russian operators in the oil/gas industry with
the goal of building a vertically integrated petroleum
company based on opportunities available in the Russian Federation. This will be accomplished
through acquisitions of interests to develop crude oil sites with
proven reserves by means of equity investment or joint
ventures.
Forward-Looking Statements
This news release contains "forward-looking statements," as that
term is defined in Section 27A of the United States Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
Statements in this press release that are not purely historical are
forward-looking statements and include any statements regarding
beliefs, plans, expectations or intentions regarding the
future.
SOURCE Far Vista Petroleum Corp.