CALGARY, AB, Jan. 23, 2023 /CNW/ – Petro-Victory Energy Corp. (“Petro-Victory” or the “Company”) (TSXV: VRY) is pleased to announce the discovery of oil at its first well drilled in Brazil.

The Company completed drilling operations at the PVE-01 well on October 12th, 2022. PVE-01 is located within the 100% working interest Andorinha production concession in the Potiguar Basin, Northeast Brazil. The well was successfully drilled and cased down to 1,196m, with oil potential identified across multiple intervals following the evaluation of conventional wireline logging tools and correlating to nearby wells.

Testing operations at PVE-01 … Continue Reading

CALGARY, AB, Dec. 28, 2022 /CNW/ – Petro-Victory Energy Corp. (“Petro-Victory” or the “Company”) (TSXV: VRY) is pleased to announce that operations have commenced at the PVE-01 well at the Andorinha Oil Field, in the Potiguar Basin.

The SPT-144 mechanical service rig has now been mobilized to the PVE-01 well location after a successful workover campaign at the São João oil field. Testing operations at the PVE-01 well have commenced with results to be shared on completion of testing activity.

Petro-Victory Energy Corp. is engaged in the acquisition, development, and production of crude oil and … Continue Reading

CALGARY, AB, Dec. 28, 2022 /CNW/ – Petro-Victory Energy Corp. (“Petro-Victory” or the “Company”) (TSXV: VRY) is pleased to announce that operations have commenced at the PVE-01 well at the Andorinha Oil Field, in the Potiguar Basin.

The SPT-144 mechanical service rig has now been mobilized to the PVE-01 well location after a successful workover campaign at the São João oil field. Testing operations at the PVE-01 well have commenced with results to be shared on completion of testing activity.

Petro-Victory Energy Corp. is engaged in the acquisition, development, and production of crude oil and … Continue Reading

CALGARY, AB, Dec. 19, 2022 /CNW/ – Petro-Victory Energy Corp. (“Petro-Victory” or the “Company”) (TSXV: VRY) is delighted to provide an operational update regarding its workover program on the Sao Joao Field, with the SJ-11 oil well coming online at rates of 640 barrels of oil per day (“BOPD”).

Highlights

CALGARY, AB, Dec. 15, 2022 /CNW/ – Petro-Victory Energy Corp. (“Petro-Victory” or the “Company”) (TSXV: VRY) announces US$1.0 M financing.

The Company is pleased to announce that it has closed on US$1.0 million of secured financing from existing shareholders “Lender 1” and “Lender 2”. The new financing will bear interest at the rate of 12% per annum, payable quarterly, with principal due at maturity on May 31, 2024. The Lenders shall each receive 147,059 warrants (the “Warrants”) where each one Warrant will entitle the holder thereof to purchase one common share in the Company (“Common Shares”) … Continue Reading

CALGARY, AB, Nov. 29, 2022 /CNW/ – Petro-Victory Energy Corp. (“Petro-Victory” or the “Company”) (TSX: VRY) is pleased to announce that it has signed binding concession contracts in connection with the previously announced nineteen (19) Block acquisition in the Potiguar Basin, onshore Brazil.

CALGARY, AB, Nov. 10, 2022 /CNW/ – Petro-Victory Energy Corp. (“Petro-Victory” or the “Company”) (TSXV: VRY) provides an operational update regarding its upcoming workover program on the Sao Joao Field, the testing program at PVE-01 on the Andorinha field, and a corporate update regarding conversion of shares from common shares (“Common Shares”) into restricted voting shares of the Company (“Restricted Voting Shares”). 

The Company has signed a contract with BRASERV PETRÓLEO LTDA (“Braserv”) for the provision of the SPT-144 transportable and mechanical service rig. Braserv is a Brazilian company highly specialized in completion and workover … Continue Reading

CALGARY, AB, Oct. 24, 2022 /CNW/ – Petro-Victory Energy Corp. (“Petro-Victory” or the “Company”) (TSX-Venture Symbol: VRY) is pleased to provide an operational update on the Company’s 100%-owned Alto Alegre Field in the Potiguar Basin, onshore Brazil.

Highlights:

CALGARY, AB, Oct. 20, 2022 /CNW/ – Petro-Victory Energy Corp. (“Petro-Victory” or the “Company”) (TSX-Venture Symbol: VRY) is pleased to provide an operational update on the Company’s 100%-owned Andorinha Field in the Potiguar Basin, onshore Brazil.

Andorinha Field Facilities Expansion

The Company has commenced work on the expansion of production facilities and oil storage capacity at the 100% operated Andorinha field with an expected completion during Q4 2022. The project has been undertaken to expand the capacity of the current facilities on the Andorinha field and to provide the Company with the necessary storage … Continue Reading

CALGARY, AB, Oct. 18, 2022 /CNW/ – Petro-Victory Energy Corp. (“Petro-Victory” or the “Company”) (TSXV: VRY) is pleased to announce that it has reached Total Depth of 1,196m and completed the Wireline Logging program at the first of its development wells to be drilled on the Company’s 100%-owned Andorinha Field in the Potiguar Basin, onshore Brazil.

PVE-01 well is located approximately 250m from producing oil wells at Andorinha and targeted a separate geological compartment from the accumulations found at the main Andorinha field. The well was successfully drilled to 1,196m, encountering oil shows from 525m to the … Continue Reading

CALGARY, AB, Oct. 6, 2022 /CNW/ – Petro-Victory Energy Corp. (“Petro-Victory” or the “Company”) (TSXV: VRY) announces US$1.7M financing.

The Company is pleased to announce that it has closed on US$1.7 million of secured financing from 579 Max Ltd. (the “Lender”). The new financing will bear interest at the rate of 12% per annum, payable quarterly, with principal due at maturity on March 31, 2024. The Lender shall receive 500,000 warrants (the “Warrants”) where each one Warrant  will entitled the holder thereof to to purchase one common share in the Company (“Common Shares”) for three years … Continue Reading

CALGARY, AB, Aug. 25, 2022 /CNW/ – Petro-Victory Energy Corp. (“Petro-Victory” or the “Company”) (TSXV: VRY) announces that it has applied to the TSX Venture Exchange ‎(the “TSXV”) for a one-time extension of the expiration date of common share purchase warrants issued by the ‎Company (the “Warrants”) in connection with US$1,000,000 unsecured financing on August 25, 2021 (“Loan Financing”). The amendments to the expiration date of the Warrants is set out in the table below. The Warrants to be ‎amended do not include any warrants issued to finders or agents in connection with the Loan Financing. No other terms … Continue Reading