Petro Vista Provides Corporate and Operational Update

Petro Vista Energy Corp. ("Petro Vista" or the "Company") (TSX VENTURE:PTV), an
independent oil and gas exploration and production company provides the
following corporate and operational update


Loan Financing

The Company has entered into short-term loan agreements with certain lenders.
These unsecured loans in the principal amount of $950,000 (the "Loans") mature
and will be repayable on January 26, 2013 and accrue simple interest at a rate
of 10% per annum.


One of the lenders is Keith Hill who is a related party and the loan transaction
with Mr. Hill (the "Hill Loan") is a related party transaction. However, the
directors of the Company, all of whom are independent in the respect of the Hill
Loan, have determined that the terms and conditions of the Hill Loan are fair
and reasonable and in the best interests of the Company, and have unanimously
approved the Hill Loan. In addition, the directors of the Company have
determined that the Hill Loan is exempted from the formal valuation and minority
shareholder approval requirements.


The Company will use the proceeds of the Loans to fund a portion of the ongoing
work over of the Tartaruga wells.


Loan Note Extensions

The Company has negotiated the extension of the maturity date of all currently
outstanding unsecured loans and convertible promissory notes in the aggregate
amount C$3,300,000 to January 26, 2013. No additional consideration was payable
in respect of the extensions.


Tartaruga Operations

The Company announces that production on the Tartaruga field has been suspended
due to the failure of the recently installed electric submersible pumping unit
installed as part of the work over of development well 7-TTG-1DP-SES. A new pump
has been procured by the operator UP Petroleo Brasil Ltda. and a rig is being
moved onto location to replace this pump. This operation is expected to be
completed by the middle of February 2013.


The Company has earned the right to request a 37.5% working interest in the
Tartaruga field. The assignment of this working interest is subject to several
conditions, including approval from the consortium members and the Agencia
Nacional do Petroleo, Gas Natural e Biocombustiveis ("ANP"). The Company is
awaiting receipt of these approvals.


About Petro Vista Energy

Petro Vista Energy Corp. is an oil and gas exploration and development company
with near-term production opportunities in South America. The Company has the
rights to acquire an interest in an exploration, development and production
property in Brazil.


ON BEHALF OF PETRO VISTA ENERGY CORP.

Keith Hill, Chairman of the Board of Directors

This press release includes "forward-looking statements" including expectations
for future operations that are subject to a number of assumptions, risks and
uncertainties, many of which are beyond the control of the Company. Statements
regarding the Company's plans and expectations for the successful completion of
the workoover of the wells and future development of the Tartaruga Block, future
growth of the Company, development success, future production, reserve additions
and capital expenditures are subject to all of the risks and uncertainties
normally incident to the exploration for and development and production of oil
and gas. These risks include, but are not limited to, inflation or lack of
availability of goods and services, environmental risks, drilling, completion
and production risks, equipment failure, availability of labor, unexpected
geological or other effects, regulatory changes and availability of capital.
Additionally there are no guarantee that the workover of either of the Tartaruga
wells will be successfully completed or that if successfully completed will
result in an increase or sustainable increase in oil production or that the
Company will receive the approval of the ANP to it being assigned its working
interest in the Tartaruga Field. Investors are cautioned that any such
statements are not guarantees of future performance and that actual results or
developments may differ materially from those projected in the forward-looking
statements. Such forward-looking information represents management's best
judgment based on information currently available. No forward-looking statement
can be guaranteed and actual future results may vary materially. The Company
does not assume the obligation to update any forward-looking statement, except
as required by applicable law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Petro Vista Energy Corp.
Darren Devine
[phone]
[phone] (FAX)
[e-mail]
www.pvecorp.com