Petro-Victory Energy Announces the Commencement of the Fully-Funded Drilling Campaign in the Potiguar Basin
AND-5 Well: Fully-Funded Drilling Campaign Underway in the Potiguar Basin
The AND-5 well drilling campaign, located in the 100% owned Andorinha Field in Brazil's Potiguar Basin, commenced on June 20, 2025. The well represents the first of two fully-funded drilling programs in the Andorinha field under Petro-Victory's strategic partnership with Azevedo & Travassos Energia ("ATE") previously announced in a press release on June 24 th, 2024. The well targets the Açu and Alagamar formations at a targeted total depth of approximately 1,177 meters. The Company looks forward to providing further updates upon completion of the well.
About Petro-Victory Energy Corp.
Petro-Victory Energy Corp. is an oil and gas company engaged in the acquisition, development, and production of crude oil and natural gas in Brazil. The total portfolio under management as of the date of this filing includes 49 concession contracts with 276,755 acres, net to Petro-Victory plus an additional 6 concessions and 19,074 acres owned jointly with BlueOak in Capixaba Energia. Through disciplined investments in high-impact, low-risk assets, Petro-Victory is focused on delivering sustainable shareholder value. The Company's common shares trade on the TSX Venture Exchange under the ticker symbol VRY.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "target", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur, including without limitation statements relating to the drilling and completion of the AND-5 well and ATE's option to acquire a portion of Petro-Victory's interest in the Andorinha Field. Such forward – looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: availability of skilled labour; availability of drilling and related equipment; timing and amount of capital expenditures; current and anticipated commodity prices and royalty regimes; the price of oil; conditions in general economic and financial markets; effects of regulation by governmental agencies; and receipt of partner, regulatory and community approvals. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company cannot assure that actual results will be consistent with these forward looking statements. They are made as of the date hereof and are subject to change and the Company assumes no obligation to revise or update them to reflect new circumstances, except as required by law. Information and guidance provided herein supersedes and replaces any forward-looking information provided in prior disclosures. Prospective investors should not place undue reliance on forward looking statements. These factors include the inherent risks involved in the exploration for and development of crude oil and natural gas properties, the uncertainties involved in interpreting drilling results and other geological and geophysical data, fluctuating energy prices, the possibility of cost overruns or unanticipated costs or delays and other uncertainties associated with the oil and gas industry. Other risk factors could include risks associated with negotiating with foreign governments as well as country risk associated with conducting international activities, and other factors, many of which are beyond the control of the Company. Other risks are more fully described in the Company's most recent Management Discussion and Analysis and Annual Information Form, which are incorporated herein by reference and are filed on SEDAR+ at www.sedarplus.ca.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Petro-Victory Energy Corp.
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