Victory Energy Reports on Wells
September 02 2008 - 8:00AM
Marketwired
Victory Energy Corporation (OTCBB: VYEY) announced today drilling
has progressed into the deep Strawn Limestone formation to
approximately 11,500 feet on deep well 154-6. This well is one of
two deep Strawn Limestone wells located in the Corporation's
Crockett County gas play in the Texas Permian Basin.
Victory's drilling contractor reports that well 154-6 has a very
strong showing of natural gas at this level, exceeding
expectations. Drilling will continue to approximately 12,000 total
depth or when reaching the bottom of the Strawn formation.
The second deep well, V-127, has reached a depth of 10,000.
Drilling will continue when the rig from 154-6 is moved onto this
well to complete drilling through the Strawn Limestone
formation.
"We are moving slowly and cautiously through the Strawn
Limestone formation to ensure steady progress consistent with good
drilling practices," commented Jon Fullenkamp, President of Victory
Energy Corporation.
Of Victory's remaining wells, eight gas wells are producing in
accordance with historical information for this field. Two
additional Canyon Sandstone wells have been stimulated and are in
the process of flowing back the stimulation fluid prior to
production. The most recent is Canyon Sandstone well in the initial
drilling stages. All wells are located within the Texas Permian
Basin.
Victory Energy Corporation (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.
Contact: For information contact: Investor Relations
1-702-989-9735
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