Aviva Reports Revenues Up 29 Percent and Substantially Reduced Net Loss for the Third Quarter and the First Nine Months of 1996.

DALLAS--(BUSINESS WIRE)--Nov. 12, 1996--Aviva Petroleum Inc. (ASE:AVV) reported a net loss for the quarter ended September 30, 1996 of $81,000, a strong improvement from the $508,000 net loss for the same quarter of 1995.

Aviva also reported a net loss of $536,000 ($.02 per common share) for the nine months ended September 30, 1996, compared to a net loss of $1,236,000 ($.04 per common share) for the corresponding 1995 period. Oil and gas sales for the nine months were up 29 percent to $10,512,000 from $8,157,000 in 1995.

Aviva's net crude oil sales in Colombia totaled 370,000 barrels (1,350 per day) in the first nine months of 1996 against 323,000 barrels (1,183 per day) for the 1995 period, a 15 percent increase. The Colombian oil price improved substantially from an average of $16.38 per barrel in the 1995 period to $19.37 per barrel during the first nine months of this year. In the United States higher oil and gas prices also contributed to increased sales.

Net cash provided by operating activities, excluding changes in working capital, was $4.4 million for the 1996 nine-month period compared with $2.4 million in the 1995 period. Continued reductions were achieved in general and administrative expenses which, at $261,000 in the 1996 quarter, and $1,276,000 for the nine months, were down 42 percent and 25 percent respectively from the prior year periods.

The following Condensed Consolidated Statement of Operations (unaudited) will be filed shortly with the U.S. Securities and Exchange Commission as part of the Company's third quarter report on Form 10-Q.

Aviva Petroleum is engaged in the exploration for and the development and production of oil and gas in Colombia and onshore and offshore in the United States. Aviva's common stock is also quoted on the London Stock Exchange (symbol "AVP"). -0-

                  AVIVA PETROLEUM INC. AND SUBSIDIARIES
             Condensed Consolidated Statement of Operations
                  (in thousands, except per share data)
                              (unaudited)

                              Three Months Ended   Nine Months Ended
                                September  30,      September  30,
                              ------------------   -----------------
                                1996      1995      1996      1995
                                ----      ----      ----      ----

Oil and gas sales             $ 3,103   $ 2,755   $10,512   $ 8,157
                              -------   -------   -------   -------
Expense:
 Production                    1,149     1,225     3,663     3,769
 Depreciation, depletion
  and amortization             1,538     1,323     5,117     3,805
 General and
  administrative                 261       448     1,276     1,700
 Severance                        24        --       196        --
                              -------   -------   -------   -------
    Total expense              2,972     2,996    10,252     9,274
                              -------   -------   -------   -------
Other income (expense):
 Interest and other
  income (expense), net          107       (58)      245       379
 Interest expense               (196)     (152)     (602)     (393)
 Debt refinancing expense         --        --      (100)       --
                              -------   -------   -------   -------
    Total other income
     (expense)                   (89)     (210)     (457)      (14)
                              -------   -------   -------   -------
Earnings (loss) before
 income taxes                      42      (451)     (197)   (1,131)

Income taxes                      123        57       339       105
                              -------   -------   -------   -------
    Net loss                  $   (81)  $  (508)  $  (536)  $(1,236)
                              =======   =======   =======   =======
Weighted average common
 shares outstanding            31,483    31,483    31,483    31,483
                              =======   =======   =======   =======

Net loss per common share     $    --   $  (.02)  $  (.02)  $  (.04)
                              =======   =======   =======   =======

CONTACT: Ron Suttill, Aviva Petroleum Inc., 214/691-3464.