Golden Cross
19 years ago
Victory Energy Corporation
Monday May 8, 10:41 am ET
LOS ANGELES, CA--(MARKET WIRE)--May 8, 2006 -- Victory Capital Holdings Corporation (OTC BB:VTYC.OB - News) announced today it has changed its name, to Victory Energy Corporation.
The name Victory Energy Corporation more accurately reflects the direction of the company, the industry that the company is pursuing and identifies its position in the market.
"We are pleased with the name selection and name change for the Company. This name identifies the Company into the energy market sector within the oil and gas industry. Victory Energy Corporation will continue its successful march to develop oil and gas properties in North America," stated CEO, Jon Fullenkamp.
About Victory Energy Corporation: Victory Energy Corporation (http://www.vtyc.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.
Contact:
Contact:
Victory Energy Corporation
Investor Relations
Lynne Folks
(949) 348-0213
Golden Cross
19 years ago
Victory Completes Deal
Wednesday March 29, 9:00 am ET
LOS ANGELES, CA--(MARKET WIRE)--Mar 29, 2006 -- Victory Capital Holdings Corporation (OTC BB:VTYC.OB - News) announced today it has succeeded in negotiating the joint venture agreement with TD Energy, LLC of Tulsa, Oklahoma, for approximately 7,000 acres in Pawnee County, Oklahoma.
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Victory's initial participation in the project is for 5 wells to be drilled for evaluation of production in the Wilcox, Arbuckle, Woodford Shale, Prue, and Dawson zones. Victory has taken a 45% interest in this upcoming drilling activity. Offset production initially shows new gas wells reaching 2 million cubic feet of gas production per day with a steady rate of 800 cubic feet of gas per day stabilized at the end of several months. Regional aspects of the Cherokee Basin show wells drilled 20 years ago still producing economic amounts.
"Michael Korte, the lead geologist on the Skedee Oil & Gas Development Project, has 25 years experience in similar fields in the Oklahoma area. His review of the subsurface geophysical data from approximately 70 drilled and logged wells in and around the area supports his conservative recoverable estimate of 15 billion cubic feet of gas for the project. In his estimation, each well drilled will recover approximately 3/4 billion cubic feet of gas," stated Jon Fullenkamp, CEO of Victory Capital Holdings.
TD Energy, LLC is an independent oil and gas producer in Okfuskee and Pawnee Counties Oklahoma. TD Energy was instrumental in discovering certain Prue, Gilcrease, Red Fork and Penn Unconformity zones in Okfuskee County. These fields have proven to be highly successful for TD Energy.
Golden Cross
19 years ago
Robert Milam Joins Advisory Board of Victory
Tuesday February 28, 2:08 pm ET
LOS ANGELES, CA--(MARKET WIRE)--Feb 28, 2006 -- Victory Capital Holdings Corporation (OTC BB:VTYC.OB - News) announced today that Robert "Bob" Milam has joined the Company as a member of its Advisory Board. Based in Houston, Texas, Mr. Milam brings a wealth of experience and expertise to Victory.
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Robert Milam received his BA in Geology from Rice University and his PhD. in Geology from Stanford University. He spent twelve years working for Exxon USA, followed by ten years as an independent geologist for companies including Cities Services, Bannon Energy, First Texas Hydrocarbons, Mitchell Exploration, Pemex, and Apache Oil.
Some of the geographic areas Bob has worked include; Piceance Basin, Colorado, Permian Basin, West Texas, East Texas Basin and Fort Worth Basin, McAllen Ranch Field, South Texas, Middle Texas Gulf Coast Basin, Offshore Louisiana, Gulf of Mexico, Dalhart Basin, Oklahoma, Uinta Basin, Utah, San Juan Basin, New Mexico, and the Anadarko Basin. Along with his experience in North America, Bob has completed several projects internationally.
"We are very pleased Bob has agreed to assist us in our growth strategy with his geological knowledge during our evaluations of pending projects. We are fortunate to be able to attract industry partners and advisors of Bob Milam's caliber," stated Jon Fullenkamp, CEO of Victory Capital Holdings Corporation. "I am very excited to be associated with Victory and its aggressive focus on oil and gas exploration," added Robert "Bob" Milam.
About Victory Capital Holdings Corp: Victory Capital Holdings Corporation (http://www.vtyc.com) is a publicly traded 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.
Golden Cross
19 years ago
Victory Updates 5 Million Barrel Oil Estimate
Wednesday March 15, 9:30 am ET
LOS ANGELES, CA--(MARKET WIRE)--Mar 15, 2006 -- Victory Capital Holdings Corporation (OTC BB:VTYC.OB - News) Montana Glasgow Prospect staff geologist, Bill Clark, with over 40 years experience in all phases of geological exploration in the Rocky Mountain region, supports the estimated 5 million barrels of oil reserves for the Glasgow field located in the Williston Basin from his analysis of the seismic and topographical information.
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The Glasgow Prospect, identified through similarities in seismic work completed in Michigan, which established production in the Michigan Basin from similar "Wrench Faults." Seismic information of the proposed drill site shows small repeat and normal faults along a wrench structure. This type of repeated sections may be similar to wrench structures found associated in the Michigan Basin, cumulative production for this basin to date is 1.3 billion barrels of oil and 6,408 Bcf of gas.
The Williston Basin is one of nine major petroleum provinces in the northern Rocky Mountains-Great Plains area. It has four known giant oil fields, at Beaver Lodge, Pine, Little Knife, and Billings Nose, each of which contains over a hundred million barrels of oil. The basin has produced more than 1.2 billion barrels of oil since Amerada drilled the No. 1 Clarence Iverson Well near Minot, North Dakota in 1951. The U.S. Geological Survey predicts that another 700 million barrels remain to be found.
"With estimates of 5 million barrels at today's prices this will be equivalent to a $300,000,000 asset on our books," stated Jon Fullenkamp CEO of Victory Capital Holdings Corporation.
About Victory Capital Holdings Corp: Victory Capital Holdings Corporation is a publicly traded, developmental stage petroleum exploration company primarily dedicated to the oil & gas industry and similar energy related opportunities. (http://www.vtyc.com) 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.
Golden Cross
19 years ago
VTYC: Victory Engages in Joint Venture Negotiation for 7,000 Acres
Friday March 24, 2:12 pm ET
LOS ANGELES, CA--(MARKET WIRE)--Mar 24, 2006 -- Victory Capital Holdings Corporation (OTC BB:VTYC.OB - News) announced today it is negotiating a joint venture agreement for approximately 7,000 acres in Pawnee County, Oklahoma with TD Energy, LLC of Tulsa Oklahoma.
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Pawnee County is bordered to the north by Osage County, Tulsa County to the southeast, Creek County to the south, Payne County to the southwest, and Noble County to the West. Osage County is of importance due to the discovery and completion of a delineation well that initially flowed 348 barrels of oil per day.
The prospect in Pawnee County is referred to as the Skedee Oil & Gas Development Project and is located in the western portion of the Cherokee Basin. The Cherokee Basin has had 844 wells produce over 45 billion cubic feet of gas over 9 years. The outlook for increased gas production is very good from the Basin as well as some discoveries for oil production are currently being tested.
TD Energy. LLC is an independent oil and gas producer in Okfuskee and Pawnee Counties Oklahoma. TD Energy was instrumental in discovering certain Prue, Gilcrease, Red Fork and Penn Unconformity zones in Okfuskee, County. These fields have proven to be highly successful for TD Energy.
"There are several things we like about this prospect, the economics are good, the regulatory environment is favorable and the transportation network is established. More importantly this prospect diversifies Victory into natural gas as the Skeede Oil & Gas Development Project has excellent potential for natural gas production. The initial thrust for Victory's oil production is in the Glasgow prospect," stated Jon Fullenkamp CEO of Victory Capital Holdings.
About Victory Capital Holdings Corp: Victory Capital Holdings Corporation (http://www.vtyc.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.
Golden Cross
19 years ago
VTCY: Victory Executes Offer to Purchase With Thunder Oil & Gas
Tuesday January 24, 9:30 am ET
LOS ANGELES, CA--(MARKET WIRE)--Jan 24, 2006 -- Victory Capital Holdings Corporation (OTC BB:VTYC.OB - News) announced today that it has signed an Offer to Purchase the Yellowstone Prospect from Thunder Oil & Gas, LLC, an Oklahoma based oil and gas producer. The closing of the transaction is subject to customary due diligence and other closing conditions, and is expected to take place on or before June 1, 2006.
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The Yellowstone Prospect produces from the Mississippi Lime, Dolomite, and Oswego Lime formations. The area consists of approximately 4,300 gross acres located in Northwest Oklahoma and Southern Kansas in Woods County, Oklahoma and Barber County, Kansas. There are 25 producing wells with the majority of the production in natural gas. On-going development is occurring at this time. Originally, the Prospect was drilled on 640 acre spacing, and is now being drilled on 160 acre spacing. Currently there are approximately four additional infill drill locations. The possibility exists to increase the well density to 80 acre spacing.
Harry Spring of Thunder Oil & Gas commented, "These properties, which represent a portion of our core holdings, have produced significant volumes of natural gas in the past and shall continue to do so in the future. The properties have proven long term reserves and further development by infill drilling and remedial workovers will only enhance the opportunity for even greater future production and revenues."
"After researching many of the opportunities available to Victory I am very pleased we were able to come to an agreement with Thunder Oil & Gas to purchase their interest in the Yellowstone Prospect. This offers Victory excellent, stable production revenues as this production area and production zones have been historically recognized for the ability to provide long term steady production. In addition, there is room for expansion with more wells to be drilled as well as remedial work which can be done on the existing production zones to increase volumes," said Jon Fullenkamp, CEO of Victory Capital Holdings Corp.
About Victory Capital Holdings Corp: Victory Capital Holdings Corporation (http://www.vtyc.com) is a publicly traded company primarily dedicated to energy related opportunities in the energy sector. 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.