VYEY Victory Oilfield Tech Inc (CE)

Victory Energy Corporation (PINKSHEETS: VYEY), an oil and gas exploration and development company, today announced the appointment of Kenneth Hill to its board of directors. Mr. Hill currently serves as vice president and chief operating officer for the Company, responsible for managing operations, overseeing contract negotiations, field oversight and administration at the Company's Austin, Texas location.

Mr. Hill brings a broad array of corporate operations and financial expertise to his position with the Company and as a newly appointed member of the board of directors. Over the last twenty-five years Mr. Hill has been an instrumental part of the development and success of numerous well-known companies in a variety of vertical markets. As one of the first twenty individuals to be employed by Dell Computer Corporation, he gained a diversified set of practical hands-on experiences during his tenure. His previous oil and gas experience involved a successful turnaround of a publicly traded oil and gas company headquartered in Australia.

More recently, Mr. Hill has used his expertise to help create and improve business entities. He has been a team leader, a consultant, a board member and a direct investor. His primary focus has been centered on finding ways to take winning ideas, products and companies to the next level by improving income, developing customer-retention programs, streamlining operations, and identifying competitive differentiators.

Robert Miranda, Victory Energy's chairman and CEO, stated, "We are pleased to add Kenny to our board of directors. He is a team builder with a unique set of management and technical skills, instrumental in running the day-to-day operations of the Austin office. The Austin team is working diligently to identify new oil and gas development opportunities for the Company and increase our asset portfolio. Kenny's extensive background in business development, marketing, and strategic initiatives will be a valuable addition to the board."

About Victory Energy Corporation

Victory Energy Corporation is engaged in the exploration, acquisition, development, and exploitation of oil and gas properties. The Company's current producing assets are located in the state of Texas.

Victory Energy seeks to identify proven development prospects, conduct thorough geological and engineering evaluations and then target suitable farm-in partners for long term development of additional prospects.

For more information, please visit our website www.vyey.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

There are forward-looking statements contained in this news release. They use such words as "intend," "will," "may," "expect," "believe," "plan," or other similar terminology. These statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results to be materially different than those expressed or implied in such statements. These factors include, but are not limited to: risks associated with the implementation of the Company's strategic growth plan; legislation and government regulation including the ability to obtain satisfactory regulatory approvals; conditions beyond the Company's control such as weather, natural disasters, disease outbreaks, epidemics or pandemics impacting the Company's customer base or acts of war or terrorism; availability and cost of materials and labor; demand for natural gas; cost and availability of capital; competition; the Company's overall marketing, operational and financial performance; economic and political conditions; the continued service of the Company's executive officer; adverse developments in and increased or unforeseen legal costs related to the Company's litigation; the success of the Company's strategic partnerships and joint venture relationships; the Company's ability to pay certain debts; adoption of new, or changes in, accounting policies and practices; adverse court rulings; results of other litigation in which the Company is involved; and other factors discussed from time to time in the Company's news releases, public statements and/or filings with the Securities and Exchange Commission. Forward-looking information is provided by Victory Energy Corporation pursuant to the safe harbor established under the Private Securities Litigation Reform Act of 1995 and should be evaluated in the context of these factors. In addition, the Company disclaims any intent or obligation to update these forward-looking statements.

CONTACT: Robert J. Miranda Chairman and Chief Executive Officer 714.480.0305 Investor Relations 714.227.0391