NuVista Energy Ltd.: Announcing The Completion Of $18.4 Million Equity Financing

CALGARY, ALBERTA--NuVista Energy Ltd. ("NuVista") announces today 
that it has completed the previously reported equity issue of 2.5 
million common shares of NuVista at a price of $7.35 per common 
share, resulting in gross proceeds of $18.4 million.  This 
financing was led by TD Securities Inc. and included FirstEnergy 
Capital Corp., Orion Securities Inc., Peters & Co. Limited, BMO 
Nesbitt Burns Inc., CIBC World Markets Inc., Sprott Securities 
Inc., Griffiths McBurney & Partners and Tristone Capital Inc. 

This private placement will be used to fund NuVista's expanded 
2003 and 2004 combined capital programs to $100 million, in 
addition to strengthening NuVista's shareholder base. 

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". 

This news release shall not constitute an offer to sell or the 
solicitation of an offer to buy the securities in any 
jurisdiction.  The common shares offered will not be and have not 
been registered under the United States Securities Act of 1933 
and may not be offered or sold in the United States absent 
registration or an applicable exemption from the registration 
requirement.   

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NuVista Energy Ltd.
Keith A. MacPhail
Chairman
(403) 213-4315

or

NuVista Energy Ltd.
Alex G. Verge
President and Chief Executive Officer
(403) 213-4306

or

NuVista Energy Ltd.
Glenn A. Hamilton
Vice President and Chief Financial Officer
(403) 213-4302