Victory to Report on Test Results in July

Victory Energy Corporation announced that it will have the test results of its shallow oil well by the end July.

The oil zone was treated with a large volume of acid, which was pumped into the formation. Weatherford Engineering is monitoring the results of the stimulation job and will collect the data for evaluation.

Production pipe was set on the latest Canyon Sandstone gas well drilled for the Corporation; it is scheduled for stimulation this week. Once the stimulation job is produced back, the well will be brought online into production.

Inclement weather delayed the deep rig moving onto location to finish drilling the first Strawn Limestone well for Victory. This well is currently drilled to 7,000 feet in-depth. Auxiliary equipment is being positioned and the rig should commence drilling by midweek.

Conductor pipe has been set on the second Strawn Limestone well being drilled by Victory. The drilling contractor will resume drilling after the 24-hour waiting period for the cement to dry.

"As a result of the unexpected weather delay, reaching total depth of our first Strawn Limestone gas well, has been pushed back by several weeks. Our drilling contractor expects to have this well back on track by mid-month," stated Jon Fullenkamp, President of Victory Energy Corporation.