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To: Joe Copia who wrote (81246)	3/5/2001 1:40:18 PM
From: Jim Bishop	Read Replies (1) \| Respond to of 150070

AVVPP unaudited earnings..... .28/share Aviva Reports Preliminary 2000 Results and Change in Colombian Contract Terms DALLAS, March 5 /PRNewswire/ -- Aviva Petroleum Inc. (OTC Bulletin Board: AVVPP.OB) reports preliminary (unaudited) net earnings of $13.4 million, or $1.42 per depositary share ($.28 per common share), for the year 2000, compared with a net loss of $(.4) million, or $(.04) per depositary share ($.01 per common share), for 1999. The 2000 earnings figure includes gains of $8.4 million on extinguishment of debt and $3.5 million on the transfer of approximately 70% of our Colombian interests. Ron Suttill, Chief Executive of Aviva, said: "2000 was a big 'turnaround' year, in which we were able, as a result of the reduction in our Colombian interests, to reduce our long-term debt and accrued interest from $15 million at the end of 1999 to ZERO at December 31, 2000. Our momentum should extend into 2001, as we have been informed that Ecopetrol, the Colombian national oil company, has indicated that it will implement more favorable terms to encourage new activity on our existing Santana contract. Full details will be made available as they become known." With regard to the Aviva Depositary Shares which trade on the OTC Bulletin Board, this unit, which was created in 1994 to achieve a listing on the American Stock Exchange, now has no practical application. The Company intends to eliminate the Depositary Shares and have Mellon Investor Services LLC issue 5 Common Shares for each Depositary Share, so that future trading will be in Common Shares. This is scheduled to occur in April and shareholders will be kept informed of the process. Aviva Petroleum is engaged in exploration for and the development and production of oil and gas in Colombia, offshore the United States, and in Papua New Guinea. 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, 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. Further Information: Ron Suttill, Aviva Petroleum Inc., Dallas, Texas, 214-691-3464. SOURCE Aviva Petroleum Inc. -0- 03/05/2001 /CONTACT: Ron Suttill of Aviva Petroleum Inc., 214-691-3464/ (AVVPP) CO: Aviva Petroleum Inc.; Ecopetrol ST: Texas, Colombia IN: OIL SU: ERN * end of story *