Victory Energy Corp. (VYEY)

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Victory Energy Corp. (VYEY)

Postby QualityStocks » Mon Nov 11, 2013 3:45 pm

Victory Energy Corp. is an independent, growth-oriented oil and gas company focused on growing proved reserves and cash-flow via the continued development of existing properties and the acquisition of new resource properties, primary located in the prolific Permian Basin of Texas and southeast New Mexico. The Company will source new capital to facilitate this growth by continuing to utilize an established pipeline of investors available through Aurora Energy Partners and additional third-party sources. The company is committed to creating long-term shareholder value by increasing oil reserves, lowering costs, boosting production volumes, and prudently managing the capital on its balance sheet.

The company is geographically focused onshore, with a primary emphasis on the Permian Basin of Texas and southeast New Mexico. Victory strategically utilizes both internal capabilities and strategic industry relationships to acquire non-operated working interest positions in low-to-moderate risk oil and gas prospects. Its focus is on oil or liquid-rich gas projects within longer-life reservoirs that offer competitive finding and development (F&D) costs per barrel of oil equivalent (BOE).

Victory’s carefully assembled management team has more than 120 years of direct and relevant oil and gas experience. The company also utilizes a team of third-party professionals on an as-needed basis. This team includes geologists for property evaluation and assessment and reservoir engineering resources for the analysis of current and new properties. Reserve reporting is performed by a third-party engineer located in Midland, Texas. Each independent operator utilized by the company also has their own array of experts.

As it executes its strategy, Victory will be targeting investment in larger working interest projects (10%-25% that are weighted toward oil and high-BTU natural gas. This approach of increasing economic interest should allow for improved returns through cost efficiencies derived from economies of scale. Lower expenses and additional capital will give the company added flexibility to invest in the development of its current proven undeveloped, possible, and probable reserves, while also allowing for additional oil and gas prospects and improved working interest positions.

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Re: Victory Energy Corp. (VYEY)

Postby QualityStocks » Wed Nov 13, 2013 5:18 pm

Permian Basin Properties Poise Victory Energy Corp. (VYEY) for Double Growth in Fiscal 2013

Victory Energy, an independent growth-oriented oil and gas company, today issued its outlook for fiscal 2013, which includes fourth-quarter estimates, with projections that it will double in size as it is positioned for “significant” growth with its Permian Basin properties.

In August 2013, the company reported a major increase in proved reserves and said it remained on-track for growth and sustainable profitability. Management made this claim based on significant improvements in the first six months of 2013 as well as expectations for the end of the year.

“We are happy to report that our claim has been validated by the performance data. Every major 2013 goal was achieved and our current properties offer the near-term opportunity to double these key metrics again,” said CEO Kenny Hill.

For 2013, the company expects to see:

• 100 percent increase in mineral and drilling funding to $2 million as compared to $1 million reported in fiscal 2012
• 97 percent increase in undiscounted proved reserve value to $6.2 million from $3.3 million in fiscal 2012
• 106 percent increase in revenue to $674,000 from revenue of $326 reported in 2012
• 130 percent increase in oil as a percent of revenue to 41 percent, compared to 18 percent last year

Victory Energy also released historical restated financials and informed of a new investor presentation on the company website, www.vyey.com, reviewing the company’s 2013 calendar year, major properties in the portfolios, and a look-forward to 2014 and 2015. The presentation also discusses a multimillion-dollar capital raising effort with Victor Energy partner Navitus Energy Group.

Furthermore, Victory Energy detailed its reporting status with the SEC, noting issues in 2012 related to SEC financial reporting from prior years. Because of these issues, the non-controlling interest Navitus Energy Group will be separately detailed on the face of the consolidated financial statements in addition to being discussed in footnote disclosure for the 2011 and 2012 reporting periods.

Victory Energy has fulfilled its requirement to restate all quarterly and annual financial reports for the 2011 and 2012 reporting periods. With the impending completion and release of yet-to-be-filed 2013 Q1-Q3 reports, and prior to a timely filing of the 2013 Form 10-K, the company’s filings will be current.

“I’m happy to report the source of these accounting and reporting issues have been resolved and all back office accounting and business processes are now performed by qualified staff here in Austin, Texas,” said Hill.

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Re: Victory Energy Corp. (VYEY)

Postby protostars » Thu Nov 14, 2013 8:11 am

Be looking for a whopping good 4th quarter to generate those numbers.
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Re: Victory Energy Corp. (VYEY)

Postby ssh5558 » Thu Nov 14, 2013 7:37 pm

The price of oil has decreased over the last year which means that reserves are doing well.
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Re: Victory Energy Corp. (VYEY)

Postby protostars » Fri Nov 15, 2013 7:40 am

It's a competitive market, with U.S. based oil now playing a bigger and bigger part in the global picture.
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Re: Victory Energy Corp. (VYEY)

Postby stockseeker30 » Fri Nov 15, 2013 7:20 pm

Oil is a up and down story that cause greed at times
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Re: Victory Energy Corp. (VYEY)

Postby protostars » Mon Nov 18, 2013 8:14 am

Safe to say that the oil industry does not have a monopoly on greed, but it is certainly raising up some opportunities that weren't around a few years ago.
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Re: Victory Energy Corp. (VYEY)

Postby mwest » Mon Nov 18, 2013 8:53 pm

The phrase oil and greed many like to associate together though
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Re: Victory Energy Corp. (VYEY)

Postby protostars » Tue Nov 19, 2013 8:23 am

Suppose people will forever picture John D. Rockefeller and Standard Oil.
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Re: Victory Energy Corp. (VYEY)

Postby stockseeker30 » Tue Nov 19, 2013 11:36 pm

(+112.22%) check this figure out that is huge
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Re: Victory Energy Corp. (VYEY)

Postby protostars » Wed Nov 20, 2013 9:09 am

Right. A knockout price gain, though not unprecedented for VYEY. A real stock for traders. Longer term gains will be fed as revenue continues to build.
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Re: Victory Energy Corp. (VYEY)

Postby QualityStocks » Wed Nov 20, 2013 8:33 pm

Victory Energy Corp. (VYEY) Growing Rich in the Permian Basin

Victory Energy Corporation is an independent, growth-oriented oil and gas company based in Texas, with a primary emphasis on the Permian Basin of Texas and southeast New Mexico.

The U.S., with its long history of oil production, was seen in recent decades as a fading star. With U.S. oil production having peaked in the early 1970s, the U.S. began to drop in ranking as a world oil and gas producer. But that’s not the case today. Since 2008, new technologies and discoveries have uncovered vast new potential in the U.S., allowing production to jump, once again giving the U.S. title in late 2013 as the world’s largest oil producer.

And when it comes to American oil and gas production, the place to remember is the Permian Basin in Texas, in spite of all the talk about the Bakken. Although the Bakken fields in the Dakotas remain highly productive, the existing and future potential represented by the Permian Basin exceeds anything in the country. In fact, roughly 60% of all the oil produced in America currently comes out of the Permian Basin in western Texas, and estimates now suggest that there’s much more to come. New technologies are opening up major new oil deposits in the area previously unavailable.

In the case of Victory Energy, the company recently announced that it is on pace to double in size for the 2013 fiscal year, and do so again very quickly with currently held Permian Basin properties. Although still a young company, undiscounted proved reserves are expected to exceed $6.6 million for the 2013 reporting period, delivering a significant impact on current and future revenue.

For more information, visit www.vyey.com

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Re: Victory Energy Corp. (VYEY)

Postby protostars » Thu Nov 21, 2013 7:37 am

The Permian is where much of the action is today, and where much of it will be tomorrow.
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Re: Victory Energy Corp. (VYEY)

Postby stockseeker30 » Thu Nov 21, 2013 11:25 pm

Their confidence in that statement protostars is all over the article above looking forward to continuing to see the figures
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Re: Victory Energy Corp. (VYEY)

Postby mwest » Fri Nov 22, 2013 10:16 pm

Huge drop heading into the weekend looking to see how this holiday week will turn out for them
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Re: Victory Energy Corp. (VYEY)

Postby protostars » Mon Nov 25, 2013 7:33 am

The Iranian deal hasn't helped oil prices, but that's just the volatile nature of the energy market.
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Re: Victory Energy Corp. (VYEY)

Postby stockseeker30 » Tue Nov 26, 2013 1:27 am

very true protostars it is the nature of the beast ,but I would like to see a domestic discount seeing the current yield.
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Re: Victory Energy Corp. (VYEY)

Postby QualityStocks » Tue Nov 26, 2013 1:17 pm

24-page IR Kit is Now Available Online

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Re: Victory Energy Corp. (VYEY)

Postby stockseeker30 » Wed Nov 27, 2013 3:19 pm

New technology through the admission of VYEY has open up big waves in areas that previously was unavailable
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Re: Victory Energy Corp. (VYEY)

Postby QualityStocks » Wed Nov 27, 2013 6:27 pm

Victory Energy Corp. (VYEY) Engages Weaver and Tidwell to Conduct Annual Audit, Quarterly Review

Victory Energy, an independent, growth-oriented oil and gas company, has engaged the services of accounting firm Weaver and Tidwell, L.L.P. (Weaver) to audit the company’s financial statements and its annual 10-K report for the 2013 reporting period.

Weaver will also review Victory Energy’s unaudited quarterly financial information for each of the three quarters and the related 2013 year-to-date periods, which are to be included in the quarterly reports (Form 10-Q) to be filed. Upon completion of the quarterly reports, Victory Energy will be current and will be allowed to file its annual 10-K report in a timely manner.

Victory Energy CEO Kenny Hill said that retaining a reputable accounting firm such as Weaver is a natural fit for Victory Energy as it remains on pace for continued growth.

“Our recent announcement that Victory has doubled its reserves since the end of 2012 and expects to continue on this impressive trend has set the tone for the quality of management and execution that we expect of our team going forward,” Hill stated in the news release. “Weaver is not only the largest independent accounting firm in the Southwest, they are also providing their services to other oil and gas companies that we view as the top of their class. Weaver’s Texas roots and their extensive knowledge and relationships in the oil and gas industry make them an ideal firm to serve as our auditor of record as we enter the next phase of growth here at Victory.”

For more information, visit www.vyey.com

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