Victor Energy (VYEY) - 500 Beiträge pro Seite

[oneguy]

Victory Energy Corporation engages in the acquisition and development of oil and gas properties in the United States and Canada. The company primarily owns interests in the Northeast Glasgow Prospect located in Williston Basin Valley County, Montana, which consists of 1,960 acres; and the Skedee prospect in Oklahoma. It also owns joint venture interest in the Mesa gas prospect in Roosevelt County New Mexico. The company was founded in 1982 under the name All Things, Inc. and changed its name to New Environmental Technologies Corporation in 1985. Further, it changed its name to Victory Capital Holdings Corporation in 2003 and to Victory Energy Corporation in 2006. The company is based in Carson City, Nevada.



VYEY Share Structure:
Authorized Shares (AS) = 210,000,000 Shares
Outstanding Shares (OS) = 31,285,366 Shares
Restricted Shares = 6,285,366 Shares
Float Shares = 25,000,000 Shares

CONTACT
http://www.victoryenergyoilandgas.com
112 North Curry Street
Carson City, NV 89703-4934
USA

Victory Energy Corporation
Corporate Communications
Falcon Financial Partners, LLC
702-989-9735

Transfer Agent: Transfer Online
http://www.transferonline.com/





ABOUT
Victory Energy Corporation ( stock ticker symbol VYEY.OB ) 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.

Victory Energy Corporation focuses on the oil and gas industry. It engages in the acquisition and development of oil and gas properties in the United States and Canada.

Management has determined that the Company will focus on projects in the oil and gas industry. This is based upon a belief that this industry is becoming an economically viable sector in which to conduct business operations. We have targeted specific prospects and intend to engage in the drilling for oil and gas. Jon Fullenkamp, our President, has a great deal of experience in the oil and gas industry and has already recruited additional experience with the addition of new directors and advisory board member.

Victory Carbon Solutions Inc. was formed as a wholly owned subsidiary of the Corporation to participate in the Green House Gas opportunities currently available in today’s energy markets and for the Corporation to join in the Carbon Credits exchange currently offered as part of the Chicago Climate Exchange. In addition the Corporation will utilize this platform to establish a fund having a focus of investing in Carbon Credits as well as financing eco-friendly projects like, windmill farms, geothermal production, solar farms, and other energy saving projects.

The Corporation has secured the options on five (5) shallow gas wells located in the Adams-Baggett Ranch located in Crockett County Texas. The Adams-Baggett Canyon Sandstone gas field is located in the Permian Basin part of the 6th largest known oil and gas reserves in the world. The Canyon Sandstone formation is found at a depth of 4,300 feet to 4,900 feet. Each well drilled in the field has an estimated proven undeveloped reserve of 500 Million cubic feet of gas per well, giving a total of approximately 2.5 Billion cubic feet of natural gas of proven undeveloped reserves for the Corporation. The Corporation has an addition first right of refusal on five (5) more options as it evaluates the initial five (5) wells to be drilled.

Management has recently negotiated the mineral rights on a prospect for Victory in the Palo Duro Basin located in Briscoe County Texas. Victory has established a letter of intent which sets out the substantive terms of a Formal Agreement (“Agreement”) that Victory intends to complete and execute. Under the Agreement, we will be required to commit up to one hundred thousand dollars ($100,000.00) for seismic evaluation to determine the first three drilling targets. In exchange, we will receive 50% of the mineral rights of all hydrocarbon deposits on the first eight sections, approximately 10 sections of land. During the evaluation of the drilling targets, and including the time to drill the first three wells, we will have the ability to exercise its irrevocable option to lease up to a total of 100,000 acres of mineral rights within the Palo Duro Basin.

The Corporation also holds interest as a joint venture partner in the Mesa Gas Prospect located in Roosevelt County New Mexico. This Prospect is a 12,000-acre field targeted primarily for gas. Additionally, the Corporation owns the mineral rights in a prospective oilfield identified as N.E. Glasgow Prospect located in Valley County Montana. This particular acreage has a Wrench Fault identified geologically. The acreage also has indications of Lodgepole Reef deposits. We had taken on the evaluation of a prospect in Oklahoma identified as the Skedee Prospect. As we progressed into the due diligence of these prospects and the potential production, management determined that the development of the prospect was not worth the required investment capital. Even with the potential reduction in investment dollars, the prospects had an unacceptable pay back time for the initial investment. Management felt the shareholders would be better served by seeking other prospects.

[oneguy]

[oneguy]

Antwort auf Beitrag Nr.: 33.667.313 von oneguy am 18.03.08 00:59:19

[cherry8866]

Antwort auf Beitrag Nr.: 33.667.292 von oneguy am 18.03.08 00:46:14

Der Chart von VYEY sieht sehr vielversprechend aus. Die news waren auch sehr interessant. Habe schon länger ein Auge auf die Aktie. Gut möglich, dass sie bei weiteren guten news alte Höhen erreicht.