Pursuing and developing exploration project opportunities in Latin America

Projects

Projects

Petro-Victory Energy Corp., through its subsidiary Pirity Hidrocarburos, SRL (PHSRL), is currently primarily engaged in the exploration and development of oil and natural gas resources in the Pirity Block, located in the Pirity Sub-basin of Paraguay. This Paraguayan Concession covers an important portion of the prospective Pirity Sub-basin (8,000 km2) in the Chaco, which is virtually undrilled and believed to be a direct extension of the proven Olmedo Sub-basin on the Argentine side of the country border. PHSRL is the original concessionaire of the Pirity Block.

The Pirity Concession totals 800,000 hectares or 2,000,000 acres and is located in NW Paraguay. The Pirity Sub-basin is a contiguous extension of Argentina’s prolific Olmedo Sub-basin, which has demonstrated production, and is structurally positioned similar to the nearby Palmar Largo fields with reported reserves. Because the Company made a Farm-out deal in September 2012, it currently holds a thirty-six (36) percent working interest in the Pirity Concession.

The Company, subject to the completion of some other Asset Acquisitions in Brazil and Guyana, which are still pending, will also be engaged in the exploration and development of oil and natural gas resources in two additional onshore blocks, the REC-T-170 Concession Block, located in the Recôncavo Basin of Brazil, and the Takutu PPL Concession Block, located in the Takutu Basin of Guyana.

The REC-T-170 Concession Block is a 6,909 acre (gross) exploration block in which the Company will have a fifty (50) percent working interest in the shallow formations and a ten (10) percent working interest in the deep formations if the Brazil Acquisition is completed.

The Takutu PPL is an exploration license over an area of 1,540,000 acres (gross) of State lands located in the Takutu Basin, onshore Guyana, adjacent to Guyana’s border with Brazil, in which the Company will have a 100 percent working interest on the property and the resources, subject to a ten (10) percent private carried working interest relating to the first well, which is held by Takutu Oil and Gas Inc.