Petro Vista Closes $1.25 M Private Placement

Petro Vista Energy Corp. (TSX VENTURE:PTV) - 

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Petro Vista Energy Corp. ("Petro Vista" or the "Company") announces that it has
closed the $1.25 million private placement announced on January 10, 11, and 12,
2012. The Company sold, on a non-brokered, private placement basis, an aggregate
of 25 million units of the Company at a price of $0.05 per unit for gross
proceeds of approximately $1.25 million. 


As previously disclosed, each unit consisted of one common share and one common
share purchase warrant. Each common share purchase warrant entitles the holder
to purchase one additional common share at a price of C$0.10 per common share
for a period of 3 years from the date of issue, subject to the Company's right
to accelerate the expiry date of the warrants if the daily volume weighted
average trading price of the common shares of the Company on the TSX Venture
Exchange is equal to or exceeds $0.20 for a period of 10 consecutive trading
days, commencing four months after the date the warrants are issued.


The proceeds of the Offering will be used by the Company primarily to provide
short term funding for the Company's operations in Brazil and Colombia and for
general working capital.


The Company may pay cash finders' fees in connection with the private placement
in accordance with the policies of the Exchange. 


All securities issued under the Offering and the shares issuable on the exercise
of the warrants will be subject to a four-month hold period in accordance with
applicable Canadian securities laws expiring on May 27, 2012.


Closing of this Offering has been conditionally accepted by the TSX Venture
Exchange.


About Petro Vista Energy 

Petro Vista Energy Corp. is an independent company engaged in the acquisition,
exploration and development of oil and natural gas properties located in South
America. The Company has exploration, development and production rights in
Colombia and Brazil. The Company's website at www.pvecorp.com provides
additional information about the Company's plans, including photographs and
other information with respect to its operations and assets.


ON BEHALF OF PETRO VISTA ENERGY CORP. 

Keith Hill, Chairman of the Board of Directors

This press release includes "forward-looking information" including statements
regarding the Offering that are subject to a number of assumptions, risks and
uncertainties, many of which are beyond the control of the Company. Statements
regarding future fund raising and capital expenditures are subject to all of the
risks and uncertainties normally incident with the raising of capital including,
but are not limited to, financing risks and risk of regulatory change. Investors
are cautioned that any such statements are not guarantees of future events and
that actual events or developments may differ materially from those projected in
the forward-looking information. Such forward-looking information represents
management's best judgment based on information currently available. The Company
does not assume the obligation to update any forward-looking statement, except
as required by applicable law.