Petro-Victory Energy Surpasses Expectations at Capixaba Energia

Petro-Victory Energy Corp., an oil and gas company listed on the TSXV under the ticker VRY, announced its first-year performance at Capixaba Energia, exceeding expectations in production growth and cost reduction. The partnership with Blue Oak Investments aimed to unlock value from mature onshore assets.

Oil production increased by 128%, from 256 barrels per day (bbl/d) to 583 bbl/d, while gas production rose by 471%. This significant increase in gas production created additional revenue opportunities and supported the company's strategy to maximize economic value. Production costs declined by 37%, from US$25.8/bbl to US$16.3/bbl.

Richard F. Gonzalez, CEO of Petro-Victory Energy Corp., commented on their first year at Capixaba Energia: 'Our first year demonstrates the strength of our partnership with Blue Oak Investments and our ability to unlock value from mature onshore assets.'