Petro Vista's goal of building an oil and gas company focused on production is heightened with key resource-rich assets in South America, a growing global appetite for oil, decline in production and strong energy prices.

Increase in World Consumption

In 2005, global primary energy consumption was approximately 230 MMBOE, comprised of fossil fuels - oil, natural gas and coal - plus other non-fossil energy, namely nuclear power and renewable sources. By 2030, energy demand is expected to reach almost 325 MMBOE, or approximately 40 percent more than in 2005.

Overall global demand and th e need for particular energy types are also influenced considerably by the growing and diverse requirements of the major demand sectors - power generation, transportation, industrial and residential/commercial.

Decline in World Production

Since 1960, the majority of the world oil market has been substantially monopolized by the Organization of Petroleum Exporting Countries (OPEC). OPEC consists of 11 members mainly in the Middle East and Africa and controls close to 70 percent of the world's proven oil reserves. In 2005, OPEC accounted for 41 percent of the world's supply of oil. High oil prices, new exploration and production technologies, aggressive cost-reduction programs by industry and the emergence of unconventional resources contribute to a positive outlook for continued growth in non-OPEC petroleum production.

Access to key resource-rich Mexico, Venezuela (world's fifth largest oil exporter) are limited until economic decisions on investment allow production to improve. Furthermore, political developments in Iran and Iraq are expected to keep production levels fairly flat until after 2015.

The growing demand is further outpacing supply by a burgeoning population that will increase 25 percent in the next 20 years, with most of that growth in emerging economies, such as those of China and India. For instance, in China alone, a projected 100 million new vehicles will be purchased by 2020.