Petro Vista and Miramar Agree to Terminate Arrangement Agreement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 23, 2013) - Petro Vista Energy Corp. ("Petro Vista" or the "Company")(TSX VENTURE:PTV), announces that the Company and Miramar Hydrocarbons Ltd. ("Miramar") have mutually agreed to terminate the arrangement agreement between the parties dated June 4, 2013 (the "Arrangement Agreement") as the required financing was not available on terms reasonably acceptable to Petro Vista or Miramar. For further details on the Arrangement Agreement, see the Company's news release dated June 4, 2013. There are no termination fees payable by either party in connection with the termination of the Arrangement Agreement and the parties have released each other from all obligations in respect of the Arrangement Agreement.

ON BEHALF OF PETRO VISTA ENERGY CORP.

Keith Hill, Chairman of the Board of Directors

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.