UPDATE: Petro Vista Edges Up; Reschedules Closing Of Sale of Morichito Block, Secures US$800,000 Cash Advance
Petro Vista Energy Corp. (PTV.V), an independent oil and gas exploration and production company, has edged up and a little bit further away from a year low 3.5 cents after it announced today that the closing of the sale of its subsidiary Petropuli SAS by Petro Vista Energy Colombia (Barbados) Corp. has been rescheduled for January 16, 2012.
PTV Barbados has also entered into an advance payment agreement with the purchaser of Petropuli, Deep Core Inc., to facilitate an advance of US$800,000 of the Petropuli purchase price to cover outstanding cash calls covering pre-drilling works on its SSJN-5 Block. The advance has been secured by Petropuli and PTV Barbados' rights in the La Maye and Morichito Blocks and will be repaid from the proceeds of the sale of Petropuli.
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