Petro Vista Announces Approval of Return of Capital

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 21, 2017) - Petro Vista Energy Corp. (TSX VENTURE:PTV) ("Petro Vista" or the "Company"), announces that its shareholders and the board of directors of the Company (the "Board") have approved a return of capital distribution (the "Return of Capital") of $0.0471 per share of the Company (each, a "Share"). The Return of Capital will be paid to all registered shareholders of record as at the close of business on May 12, 2017.

The Return of Capital will be made in accordance with the "due bill" trading procedures of the TSX Venture Exchange (the "Exchange"). The purpose is to have traded shares carry the value of the Return of Capital until it is paid. A due bill will notionally represent the Return of Capital of $0.0471 per Share which a holder of a Share is entitled to receive. A due bill will attach to each Share traded from the second trading day before the record date for the Return of Capital until May 26, 2017 (the "Payment Date"), being the date the Return of Capital is paid. Based on the Payment Date, the due bill period for the Return of Capital will be May 10, 2017 to May 26, 2017. Anyone acquiring a Share up to and including May 26, 2017 will be entitled to receive the Return of Capital. The Shares will commence trading on an ex-distribution basis (without an attached "due bill" entitlement) effective from the opening of trading on May 29, 2017, the next trading day following the Payment Date. The due bill redemption date will be May 31, 2017 (the second trading day after the ex-distribution date, when all trades with due bills attached have settled).

Shareholders do not need to take any action. Computershare Investor Services Inc., the Company's transfer agent, will send to registered shareholders funds representing the return of capital and beneficial shareholders will have their brokerage accounts automatically updated to reflect the Return of Capital.

Eligible shareholders are strongly cautioned to consult with their financial, broker, legal, tax and/or investment advisors regarding any matters pertaining to the Return of Capital and the tax consequences associated therewith.

ON BEHALF OF PETRO VISTA ENERGY CORP.

Darren Devine, Executive Vice President, Director

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.