Carson City, Nevada. February 13, 2008. Victory Energy Corporation (OTCBB:VYEY - News) announced today that surface pipe has been set on the second well the Corporation is currently drilling. This new well is a Canyon Sandstone gas zone well located in the Adams-Baggett Canyon Sandstone gas field in Crockett County, Texas.
On Saturday February 9th the first well the Corporation drilled to total depth, was completed with a successful stimulation job. A stimulation job of this nature opens the production zone by fracturing the zone allowing gas to flow into the well bore. Currently a work-over rig has moved onto the well location to begin swabbing the production zone for testing. The Corporation should have preliminary testing results by February 22.
“Due to our own internal level of expertise, coupled with the experience and knowledge of the drilling contractor and completion engineers selected by the Corporation, we are well ahead of our completion and drilling time frames for these two wells,” stated Jon Fullenkamp, President of Victory Energy Corporation. “this currently provides for the Corporation to maintain a schedule of drilling up to two wells per month for the next several months”.
About Victory Energy Corporation:
Victory Energy Corporation (http://www.victoryenergyoilandgas.com) is a publicly traded, developmental stage petroleum company primarily dedicated to energy-related opportunities. The Company goal is to evaluate profitable options, develop a solid foundation through leadership and sound business acumen, and acquire producing wells as well as other potentially profitable prospects within the Oil & Gas Industry. Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those discussed in filings made by the Company with the Securities and Exchange Commission. The Company's filings may be accessed at the SEC's EDGAR system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements.
For information, please contact:
Corporate Communications
1-702-989-9735 |
