Pursuing and developing exploration project opportunities in Latin America

About Us

Company Highlights

  • Company’s common shares, listed as VRY.V on the TSX Venture Exchange, began trading on July 24, 2014.

  • Company exploration effort is focused on Latin America and its current portfolio includes a main asset in Paraguay with pending assets in Brazil and Guyana.
  • Petro-Victory Energy Corp., through its wholly owned subsidiary Pirity Hidrocarburos SRL (PHSRL), is the original concession holder of the Pirity Block (2.0 mm acres / 800,000 hectares of acreage in the under explored Pirity Sub-Basin) in North-West Paraguay (near the border with Argentina) and maintains a 36% working interest.

  • In September 2012, Petro-Victory farmed-out and assigned its operatorship to President Energy PLC (an international oil and gas operating Company with headquarters in London, U.K.) to earn up to 59% working interest for paying $10 mm in back costs and carrying $40 mm in work commitments. 

  • During 2013, the Company together with the Operator have acquired 3D Seismic (791 Km2) and 2D seismic (459.89 Km). The Operator has made the geological and geophysical evaluation and interpretations of the Block, identified and mapped over 20 leads and prospects at the Pirity Block (identifying high impact, drill ready targets on trend with prior discoveries in Argentina and Bolivia).

  • All the Company’s prospective resources (pre-drill)  at the Pirity Block in Paraguay are independently certified by two Audit Reports produced by the RPS Energy Group ("RPS"), which reported a large resource potential at this Block. Below is included a General Note containing certain relevant information related to the total prospective resources (pre-drill)  corresponding to Petro-Victory Energy Corp. reported by RPS in these two reports. The RPS Cautionary Statements are also included below.

  • During its 2014 drilling campaign, the Company, together with President Energy PLC as Operator, decided to contract some special services to well-reputed international companies in order to expedite the overall execution of the drilling work at this remote location (the Pirity Block): Schlumberger Integrated Project Management team (“IPM”) providing management and field services, and Quieroz Galvao, providing drilling services.

  • On June 14, 2014, Operator and Company initiated their Two-Plus-One Drilling Campaign at the Pirity Block. The drilling campaign initially consisted on drilling three (3) possible Independent wells (the third well to be drilled subject to the results of wells 1 and 2):

    • Well 1: Jacaranda X-1 (Spud 6-14-14) – Cretaceous and Devonian targets.
    • Well 2: Lapacho X-1 (Spud 9-3-14) – Santa Rosa Formation target.

    • Well 3: Tapir – Cretaceous target.

  • Petro-Victory Energy Corp. does not have hydrocarbon reserves as of January 31, 2015. During 2014, the Company drilled two (2) wells, the “Jacaranda X-1” and the “Lapacho X-1”. Despite the fact that these 2 wells were unsuccessful, the 2014 drilling campaign completed by Operator and Petro-Victory at the Pirity Block represented a very important achievement because it significantly di-risked the future exploration program not only in this block but also in the whole Pirity Sub-basin.

    • Well 1 - Jacaranda X-1: It was drilled to TD 4,500 m and suspended. There was no-top seal at the Cretaceous target. The well penetrated 800+ m of live Devonian source rock. The main achievement of Operator and Petro-Victory in this well is that they proved the presence of the Devonian source rock in the Pirity Sub-basin of Paraguay.

    • Well 2 - Lapacho X-1: It was drilled to TD: 4,543 m and suspended. It did encounter hydrocarbons at the Icla and Santa Rosa Formations. However, despite of the multiple attempts, Operator and Petro-Victory were unable to successfully flow-test this well. The main achievement of Operator and Petro-Victory in this well is that they proved the presence of hydrocarbons in the Icla and Santa Rosa Formations.

  • During 2014, President Energy PLC fully earned its 59% Working Interest on the Pirity Block. During June 2014, President Energy PLC reported that it had acquired “LCH”, the Paraguayan Company owing 5% working interest on the Pirity Block Concession. As a direct consequence of such acquisition, President Energy claimed by then that it became the holder of 64% working interest on the Pirity Block Concession.

 

General Note: The RPS reports are audits of resource assessments conducted initially by President Energy PLC as Operator and then by Petro-Victory Energy Corp., which were based on the results of the extensive 2013 2D and 3D seismic campaigns conducted by President Energy as the Operator and by Petro-Victory LLC and only considered a total of eight prospect targets. Specifically, RPS only audited the volumetric and economic modelling of three prospect areas which contain five culminations with potential for targeting multiple (‘stacked’) reservoirs in two of these culminations, Jacaranda and Tapir, as currently mapped. The volumetric and economic models have been developed as standalone cases and have no inter dependence (including economies of scale or timing of discovery and development). Based on a probabilistic consolidation (summation) of Petro-Victory’s 36% working interest in all eight prospects, these three (3) areas are estimated to contain gross total unrisked Prospective Resources (Pre-Drill) Attributable to Petro-Victory of 361 mmboe (Net Attributable to Petro-Victory of 300 mmboe). All volumes quoted represent the aggregated mean outcome assuming all eight prospect targets become discoveries and should not be taken as the mean expectation from the drilling campaign which may contain some success and some failure in individual prospect targets. In addition, the "Lapacho" prospect (PRe-Drill) estimated to have mean unrisked Prospective Resources (Pre-drill) Estimate Net Attributable to Petro Victory of 1.13 Tscf gas and 34 million barrels of condensate, in total over 220 million boe (Net Attributable is Petro-Victory’s 36% WI entitlement after Government Royalty and 5% ORRI). It is very important to point out that the Prospective Resources (Pre-drill) RPS audit reports initially carried out for President Energy as the Operator and lately for Petro-Victory LLC demonstrate the opportunity to open up a significant new hydrocarbon province, with over 20 leads and prospects yet to be evaluated in the Pirity Sub-basin (Pirity and Demattei Blocks). The RPS Audit Reports, which are published in full on both the Operator’s website and Petro-Victory’s website, also contain Low, Best and High estimates of the Prospective Resources (Pre-drill) , estimates of geologic chance of success of each prospect, and risked consolidations of all prospects.

RPS Cautionary Statements: There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources. The estimate of recoverable resources (unrisked) includes prospective resources that have not been adjusted for risk based on the chance of discovery or chance of development. If a discovery is made, there is no certainty that it will be developed or, if it is developed, there is no certainty as to the timing of such development. Actual recovery is likely to be less and may be substantially less or zero.