Petro Vista Energy Corp.(Formerly Texada Capital Corp.) Completes Qualifying Transaction & Financing

April 10, 2008

Vancouver, B.C. April 11, 2008 - Petro Vista Energy Corp. (TSX-V: PTV) (formerly, Texada Capital Corp.) (the “Corporation”) is pleased to announce the closing of its Qualifying Transaction, consisting of the acquisition (the “Acquisition”) of all of the issued quotas (shares) in the capital of Petro Vista Energy Petroleo do Brasil Ltda. (“PV Brazil”) that owns working interests in 14 oil and gas exploration and development concessions in Brazil. Concurrently with the completion of the Acquisition, the Corporation successfully raised C$9,179,000 to fund an exploration and development program on the Corporation´s properties and to fund further acquisitions, through a private placement of 15,298,334 units at a price of C$0.60 per unit.

The Corporations´ common shares will resume trading on the TSX Venture Exchange at the commencement of trading on Friday April 11, 2008 under its new symbol TSXV: PTV.

The Acquisition

The Corporation purchased the issued quota capital of PV Brasil from Petro Latina Energy Pty. Ltd. (a Singaporean holding company) in exchange for 1,000,000 common shares in the capital of the Corporation and the assignment to the Corporation of US$3,500,000 in convertible loans which the Corporation settled by issuing 7,000,000 common shares of the Corporation to the lenders. PV Brasil owns working interests in 14 onshore oil and gas concessions in Brazil.

The Acquisition constitutes the Corporation´s “Qualifying Transaction” pursuant to the policies of the TSX Venture Exchange. All of these common shares issued on the Acquisition are subject to a 4-month resale restriction that expires on August 10, 2008. An aggregate of 7,616,667 shares are subject to a three-year escrow under Exchange policies.

Summary of the Oil and Gas Projects

Brazil - Onshore
The Corporation holds the following working interests in 13 hydrocarbon exploration blocks with a gross area of 33,595 net acres in the Recôncavo and Sergipe Alagoas Basins, onshore Brazil.

The Recôncavo and Sergipe Basins are among the most prolific and have been extensively developed by Petrobras since the 1950´s. The majority of the Corporation´s acreage is adjacent to these known oil fields and proven areas.

In the Recôncavo Basin, the Corporation and its partners are evaluating a hole recently drilled on Block 235. Three additional and more prospective drilling locations in Block 235 have been subsequently identified using the Corporation´s geotechnical staff. Subject to approval of the Agency National Petroleum (“ANP”), a work program to evaluate these prospects will be undertaken. A technical report on Block 235 prepared in compliance with National Instrument 51-101 Standard Disclosure for Oil and Gas Activities (“NI 51-101”) is available on the Corporation´s SEDAR profile at www.sedar.com.

During the recent bid round in November 2007, a consortium including the Corporation was awarded Block 170 in the Recôncavo Basin (25% working interest to the Corporation). Block 170 is adjacent to the large Miranga Oil field (Petrobras) having over 814 MMBOE in place according to ANP (source: ANP - Bid Round 9 Data Package, October 2007).

In addition to the anticipated drilling on Block 235, the Corporation will participate in 2D and 3D seismic surveys over the remainder of the Blocks and anticipates the drilling of 2-3 further wells within the next 12 months.

Brazil - offshore
The Corporation has executed a Letter Agreement to acquire a net 30% working interest in a shallow water exploration and production property in the Sergipe Alagoas Basin. The Corporation is completing its due diligence and will provide additional information on this opportunity as it becomes available. Assuming completion of this transaction, the Corporation would acquire immediate initial production and cash flow. A single well is currently producing from one zone at a monthly average rate of net 88 bopd (source: TDC Engineering Ltd. / Petrobras - daily production reports, January 2008). The proposed work program on this property calls for a sidetracking and re-completion of additional zones of interest in two wells. This work is expected to increase production to the Corporation within 90-120 days of the completion of an acquisition. The Corporation anticipates completing this acquisition in the next 45 days.

Colombia
As previously announced on March 19, 2008, the Corporation entered a binding letter of intent with Petropuli Ltda. (“Petropuli”), a Colombian limited liability Corporation, and certain of its quotaholders, and Compañia Geofisica Latinoamericana S.A. (“CGL”), a Colombian private company, to acquire not less than 90% of the quota capital of Petropuli and all of CGL´s interest in oil and gas exploration and production rights over 23,169 hectares, that includes the Morichito Block located in the prolific East Plains, Llanos Basin, Colombia. Assuming completion of this acquisition, the Corporation will acquire a 47.4% working interest in and operational control of this Morichito Block.  The completion of the acquisition will require all necessary regulatory and corporate approvals including the Colombian government and its agencies.

Petropuli has completed extensive 3D seismic work and an exploration well on the Morichito Block. Petropuli drilled the Morichito #2 well in late 2006 and recovered oil, but was unable to complete the well at the time due to adverse weather conditions resulting from the rainy season in this equatorial area. The well logs from this well have been analyzed both internally and by third party petrophysical experts and show potential high quality reservoir sands found in field analog wells in the area producing, for instance 1,350 bopd of 37 degree API oil (independent source: La Punta Well, Mirador Formation, Llanos Basin - Baraka Petroleum Limited, ASX Quarterly Report January 30, 2008). 

Preliminary 3D seismic evaluation by the Corporation over the Morichito Block indicates several leads and drillable prospects, the largest and most prospective of which shows similar geophysical similarities to the La Punta oil field, 25 kilometers to the west of Morichito which has produced 2 MMbo to date with total estimated recoverable field reserves of 6-9 MMbo (independent source: Baraka Petroleum Limited, ASX Quarterly Report January 30, 2008).  In the Caracara Block, 20 kilometres to the southwest and on a parallel structural trend with Morichito, Hupecol has had multiple discoveries. To give an indication of the value of discoveries in the area, on March 17, 2008, Hupecol Caracara LLC entered into an agreement to sell the Caracara Prospect for US$920 million to an undisclosed buyer. (Independent source: Yahoo Finance, March 17, 2008). Note that it is unknown whether these analog reserve estimates were prepared in accordance with NI 51-101 and the Corporation has no verified the estimates and therefore should not be relied upon.

Assuming completion of this acquisition, the Corporation anticipates completing the current well and drilling a second well, up-dip of the current well location by September 30, 2008.

Private Placement

The Corporation completed a non-brokered private placement of 15,298,334 units at a price of $0.60 per unit. Each Unit consists of one common share of the Corporation and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share at a price of C$1.00 for a period of two years from issuance, subject to the Corporation´s right to accelerate the exercise of the common share purchase warrants if the closing price of the common shares of the Corporation on the Exchange is C$1.35 or more for 20 consecutive trading days.

The Corporation issued to finders under the private placement an aggregate of 1,046,050 share purchase warrants to purchase up to 1,046,050 common shares at a price of $1.00 per common share for a period of 24 months subject to the Corporation´s right to accelerate the exercise of the common share purchase warrants if the closing price of the common shares of the Corporation on the Exchange is C$1.35 or more for 20 consecutive trading days. The Corporation also issued to Haywood Securities Inc. share purchase warrants to purchase up to 100,000 common shares at a price of $0.60 per common share for a period of 12 months as partial payment of its fee for acting as the Corporation´s sponsor.
As of the closing, the Corporation has common shares issued and outstanding of which 1,600,007 common shares 800,000 common share purchase warrants and 425,000 options are subject to escrow or pooling restrictions. The common shares issued pursuant to the private placement are the common shares issuable upon exercise of the share purchase warrants are subject to 4-month resale restriction that expires on August 10, 2008.

Change of Name and Stock Option Plan

The Corporation completed the change in its name effective April 7, 2008 from Texada Capital Corp. to Petro Vista Energy Corp. (www.pvecorp.com) to reflect the Corporation´s new business direction.
The Corporation has implemented a rolling stock option plan under which it has granted 2,250,000 incentive stock options to directors, officers, employees and consultants at a price of $0.60. All options vest as to 25% of the options on grant and 25% every 6 months thereafter.

Investor Relations

The Corporation has engaged Senergy Communications Inc. to provide it with investor relation services. The Corporation and Senergy have signed a six (6) month consulting agreement which requires the Corporation to pay Senergy C$10,000 per month and grant Senergy 100,000 options which will be exercisable at a price of C$0.69 per share and will vest as to 25% of the options on grant and 25% every 6 months thereafter.

Senergy Communications Inc. is a British Columbia company, based in Vancouver and owned by Anthony Zelen that provides investor relations and marketing services to public companies. Senergy and the Corporation are at arms-length to one another.

ON BEHALF OF PETRO VISTA ENERGY CORP.

"Read Taylor"

Read Taylor, President and CEO

THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

This press release includes "forward-looking statements" including forecasts, estimates, expectations and objectives for future operations that subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Corporation. Statements regarding 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 risks and regulatory changes. 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. Corporation does not assume the obligation to update any forward-looking statement.

Mailing Address:

Petro Vista Energy Corp. (USA)
910 South El Camino Real Suite D
San Clemente, California 92672, USA
+1 (949) 373-3655
Fax: +1 (949) 369-2810
E-mail: info@pvecorp.com
Web: www.pvecorp.com

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