LEVITTOWN, NY -- (Marketwire) -- 01/23/13 -- Far Vista Interactive Corp (PINKSHEETS: FVSTA) is most pleased to announce that it has signed a Letter of Intent with CJSC Chedty Neft Neft by which it intends to acquire its outstanding shares. Chedty Neft Neft is an oil producer with proven oil reserves in the Federation of Russia.
The parties have previously exchanged pertinent documents and information as part of a general due diligence process. Upon the satisfaction of all parties, a formal Agreement should be signed within a few weeks.
OJSC Komineftegasprom is the Company"s representative in Russia and it both introduced Chedty Neft Neft to the Company and it also acts as the facilitator of the transaction. Its extensive knowledge within this industry and assistance provides for both rapid and accurate interactions.
Maxim Sushchenko, President of Far Vista, states, "We have been very active in the Russian oil industry and we are very excited to have succeeded in our entry into this field. Furthermore, because of this project, additional opportunities have manifested themselves through the assistance of Komineftegasprom."
About Far Vista Interactive Corp
Far Vista Interactive Corp has two business objectives.
It is interacting with Russian operators in the oil/gas industry with the goal of building a strong 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 in oil/gas operations.
Since its inception, it has been active in the development, distribution, marketing and sale of video game software as well as in its in-house development of online active video games. It develops online active video games for the PC, Microsoft Xbox 360, Sony PlayStation consoles, and online game community making video games more appealing to First Person Shooter ("FPS") types of gamers and non-gamers alike. It also has the worldwide right and license to the Trademarks and the System in connection with the operation of "Run The Gauntlet"
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.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include the fluctuations in the price of gold and in the event of severe weather conditions. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.
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