Victory Energy Elects CFO to Board of Directors

Victory Energy announced the appointment of Robert Miranda, Chief Financial Officer of Victory Energy, to the Board of Directors. Robert Miranda joined the company as CFO in the fourth quarter of 2008. His role is integral in the areas of finance and administration, as it relates to audit and internal controls of the company, as well as review and implementation of corporate governance requirements for the corporation.

Mr. Miranda's appointment follows the recent appointments of Edgar P. Trotter, Ph.D. and Ronald W. Zamber, M.D. to Victory Energy's Board of Directors. The Corporation's Board now includes three independent directors along with Victory Energy Chairman, President and CEO Jon Fullenkamp and CFO Robert Miranda.

Mr. Fullenkamp stated, "Robert Miranda brings significant finance and administrative leadership from his more than 35 years of professional experience in the areas of auditing, accounting, mergers and acquisitions, strategy, and internal controls with private and public companies. His skills and experience continue to be great assets to the Corporation as we pursue an improved level of internal controls and continue the initiatives established for business growth."

Mr. Miranda's prior experience includes five years with KPMG's audit practice, fifteen years as founder/CEO of a regional CPA firm, five years as a national director of Deloitte & Touche, and five years with Jefferson Wells, an international consultancy. His executive management experience includes founding and managing a regional professional services firm that operated multiple offices in the United States and internationally. While associated with Jefferson Wells, an international consultancy, Mr. Miranda served as Global Operations Director and was responsible for managing a team of 250 professionals that implemented an enterprise wide Sarbanes-Oxley compliance program for a major Chicago based aerospace and defense firm.

Mr. Miranda holds a B.S. degree from the University of Southern California, a certificate from the Owner/President Management executive program at Harvard Business School, and is a licensed certified public accountant.