Aviva Discontinues Trading in Depositary Receipts; Common Shares to Trade Under AVVP Symbol

Apr 27, 2001, 01:00 ET from Aviva Petroleum Inc.

    DALLAS, April 27 /PRNewswire/ -- Aviva Petroleum Inc.
 (OTC Bulletin Board:   AVVPP) reported today that it has discontinued the
 depositary share system established in 1994 in order to meet the minimum
 security price required by the American Stock Exchange Emerging Companies
 Marketplace ("Amex").  The depositary shares ("AVVPP"), each representing
 5 Aviva common shares ("AVVP"), began trading on the Amex on November 14,
 1994.  Subsequently, the depositary shares were delisted from the Amex and
 began trading on the OTCBB on May 13, 1999.
     The depositary share system now has no practical application and,
 therefore, Aviva will, effective as of 4 p.m. Eastern time, April 30, 2001,
 discontinue the trading of depositary shares so that the common shares will
 trade thereafter on the OTCBB under the symbol AVVP.  Mellon Investor Services
 LLC ("Mellon") will issue, to the holders of the depositary shares, 5 common
 shares for each depositary share surrendered.  Conversion instructions will be
 sent to all depositary shareholders shortly.  However, holders who wish to
 immediately convert their depositary shares into common shares may do so by
 contacting Mellon at 1-800-777-3674.
     Safe Harbor for Forward-Looking Statements: Except for historical
 information contained herein, the statements in this press release are
 forward-looking statements that are made pursuant to the safe harbor
 provisions of the Private Securities Litigation Reform Act of 1995.
 Forward-looking statements involve known and unknown risks and uncertainties
 which may cause the Company's actual results in future periods to differ
 materially from forecasted results.  These risks and uncertainties include,
 among other things, general economic conditions, volatility of oil and gas
 prices, the impact of possible geopolitical occurrences world-wide,
 imprecision of reserve estimates, the assessment of geological and geophysical
 data, changes in laws and regulations, unforeseen engineering and mechanical
 or technological difficulties in drilling, working-over and operating wells,
 and other risks described in the Company's filings with the Securities and
 Exchange Commission, THE MOST RECENT OF WHICH IS FORM 10-K FOR THE YEAR ENDED
 DECEMBER 31, 2000 WHICH WAS FILED MARCH 29, 2001.
 
      Further Information:  Ron Suttill, Aviva Petroleum Inc., Dallas, Texas,
 214 691 3464
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X20772465
 
 

SOURCE Aviva Petroleum Inc.
    DALLAS, April 27 /PRNewswire/ -- Aviva Petroleum Inc.
 (OTC Bulletin Board:   AVVPP) reported today that it has discontinued the
 depositary share system established in 1994 in order to meet the minimum
 security price required by the American Stock Exchange Emerging Companies
 Marketplace ("Amex").  The depositary shares ("AVVPP"), each representing
 5 Aviva common shares ("AVVP"), began trading on the Amex on November 14,
 1994.  Subsequently, the depositary shares were delisted from the Amex and
 began trading on the OTCBB on May 13, 1999.
     The depositary share system now has no practical application and,
 therefore, Aviva will, effective as of 4 p.m. Eastern time, April 30, 2001,
 discontinue the trading of depositary shares so that the common shares will
 trade thereafter on the OTCBB under the symbol AVVP.  Mellon Investor Services
 LLC ("Mellon") will issue, to the holders of the depositary shares, 5 common
 shares for each depositary share surrendered.  Conversion instructions will be
 sent to all depositary shareholders shortly.  However, holders who wish to
 immediately convert their depositary shares into common shares may do so by
 contacting Mellon at 1-800-777-3674.
     Safe Harbor for Forward-Looking Statements: Except for historical
 information contained herein, the statements in this press release are
 forward-looking statements that are made pursuant to the safe harbor
 provisions of the Private Securities Litigation Reform Act of 1995.
 Forward-looking statements involve known and unknown risks and uncertainties
 which may cause the Company's actual results in future periods to differ
 materially from forecasted results.  These risks and uncertainties include,
 among other things, general economic conditions, volatility of oil and gas
 prices, the impact of possible geopolitical occurrences world-wide,
 imprecision of reserve estimates, the assessment of geological and geophysical
 data, changes in laws and regulations, unforeseen engineering and mechanical
 or technological difficulties in drilling, working-over and operating wells,
 and other risks described in the Company's filings with the Securities and
 Exchange Commission, THE MOST RECENT OF WHICH IS FORM 10-K FOR THE YEAR ENDED
 DECEMBER 31, 2000 WHICH WAS FILED MARCH 29, 2001.
 
      Further Information:  Ron Suttill, Aviva Petroleum Inc., Dallas, Texas,
 214 691 3464
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X20772465
 
 SOURCE  Aviva Petroleum Inc.