Petro-Victory Energy (TSE:VRY) has released an update.
Petro-Victory Energy Corp. has reported a year-end reserve evaluation, revealing a significant holding of 3,434 thousand barrels of oil equivalent in proved reserves and an anticipated net present value of $130.5 million. The company, which has a 100% interest in 41 blocks, has also identified 8.4 million barrels of risked contingent natural gas resources, with a strong chance of commerciality in Brazil’s high-demand regions. Driven by a rigorous capital expenditure program and the potential for increased production and cash flow, Petro-Victory is poised for growth in the latter half of 2024.
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