/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY
CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./
CALGARY, May 12, 2015 /CNW/ - Petro-Victory Energy Corp.
("Petro-Victory" or the "Company") (TSX-V: VRY) is pleased to
provide the following update on its Pirity concession in
Paraguay.
Pirity Concession
Petro-Victory confirms that the dispute with President Energy
PLC has now been amicably resolved and a joint statement from both
President and Petro-Victory has today been issued. A copy of the
statement is attached as an appendix below.
Richard F. Gonzalez, Chairman
and Chief Executive Officer, commented:
"We are very pleased to announce that the dispute with our
partners in Paraguay has been
amicably settled and resolved. Our joint work will continue to
unlock the value potential of our Paraguayan Concession."
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities, in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction.
The securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S.
Securities Act"), or any state securities laws and may not be
offered or sold within the United
States unless an exemption from such registration is
available.
Appendix:
JOINT STATEMENT FROM PETRO-VICTORY ENERGY CORP
AND PRESIDENT ENERGY PLC
PIRITY CONCESSION PARAGUAY
Petro-Victory Energy Corp. and President Energy PLC for
themselves and their subsidiary and associated companies
(respectively the "PV Group" and the "PE Group") are pleased to
jointly announce the following:
- That the Parties have achieved an amicable resolution of all
issues between themselves in relation to the Pirity Concession,
Paraguay and all claims and
actions have been discontinued and withdrawn.
- The Parties are pleased to put the recent events behind them
and move forward constructively together led by PE Group as
Operator of the Concession in what they hope will be a stronger and
closer relationship.
PETRO-VICTORY ENERGY CORP
PRESIDENT ENERGY PLC
12 of May 2015
Cautionary Note
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Not for distribution to U.S. Newswire Services or for
dissemination in the United
States. Any failure to comply with this restriction may
constitute a violation of U.S. securities laws.
SOURCE Petro-Victory Energy Corp.