NuVista Energy Ltd. Announces Closing of Offerings

CALGARY, ALBERTA--(Marketwire - Dec. 11, 2012) - NuVista Energy Ltd. ("NuVista") (TSX:NVA) is pleased to announce that it has closed its previously announced public offering of 5,350,000 common shares, including 1,110,000 common shares issued on a "flow-through" basis, with a syndicate of underwriters led by Peters & Co. Limited and including BMO Capital Markets, CIBC, FirstEnergy Capital Corp., RBC Capital Markets Corp., Scotia Capital Inc., and TD Securities Inc. (collectively, the "Underwriters") for gross proceeds of $27.3 million (the "Offering").

NuVista has also closed its previously announced private placement offering of "flow-through" shares to certain directors and officers at a price of $5.89 per share for gross proceeds of $3.5 million and its private placement of 6,120,000 common shares to Caisse de dépôt et placement du Québec and 3,440,000 common shares to Ontario Teachers' Pension Plan at a price of $4.90 per common share for gross proceeds of $46.8 million. The balance of the private placement of 3,500,000 common shares to Bissett Investment Management, a division of Franklin Templeton Investments Corp., is expected to be completed shortly.

ADVISORY REGARDING FORWARD-LOOKING INFORMATION AND STATEMENTS

This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. The use of any of the words "will", "expects", "believe", "plans", "potential" and similar expressions are intended to identify forward-looking statements or information.

More particularly and without limitation, this press release contains forward looking statements and information concerning the timing of the completion of the balance of the private placement. The forward-looking statements and information in this press release are based on certain key expectations and assumptions made by NuVista including satisfaction of the conditions of closing of the balance of the private placement on the timing planned. Although NuVista believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because NuVista can give no assurance that they will prove to be correct.

INVESTOR INFORMATION

NuVista is an independent Canadian oil and natural gas exploration, development and production company with its Common Shares trading on the Toronto Stock Exchange under the symbol "NVA".