Carson City, Nevada. February 14, 2008. Victory Energy Corporation (OTCBB:VYEY - News) announced today that it is intensifying its presence into the Adams-Baggett Canyon Sandstone gas field in Crockett County, Texas.
The Corporation is working with the drilling contractor in an effort to acquire additional drilling rigs to support an increase in drilling capacity beyond the current two (2) wells per month. To accomplish this, communications have begun with drilling rig manufacturers regarding lead times for the delivery of new equipment.
“Based on the results we are receiving from the initial well drilled and the progress made on the well currently being drilled, we are committing significant resources to intensify this field’s development. This will facilitate multiple wells to be drilled concurrently to establish a higher rate of production” stated Jon Fullenkamp, President of Victory Energy Corporation.
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
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