NuVista Energy Ltd. Announces Closing of Offerings

NuVista Energy Ltd. Announces Closing of Offerings 
CALGARY, ALBERTA -- (Marketwire) -- 12/11/12 -- 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 depot
et placement du Quebec 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".
Contacts:
NuVista Energy Ltd.
Jonathan Wright
President and CEO
(403) 538-8501 
NuVista Energy Ltd.
Robert F. Froese
VP, Finance and CFO
(403) 538-8530