QualityStocks would like to highlight
Victory Energy Corp. (
PINK: VYEY), an independent, growth-oriented oil and gas company. Victory Energy is focused on growing proved reserves and cash-flow via the continued development of existing properties and the acquisition of new resource properties, primary located in the prolific Permian Basin of Texas and southeast New Mexico.
In the company’s news,
Victory Energy Corporation is rapidly growing along with oil developments in the Permian Basin of western Texas, recently announcing a doubling in size.
The U.S., with its long history of oil production, was seen in recent decades as a fading star. With U.S. oil production having peaked in the early 1970s, the U.S. began to drop in ranking as a world oil and gas producer. But that’s not the case today. Since 2008, new technologies and discoveries have uncovered vast new potential in the U.S., allowing production to jump, once again giving the U.S. title in late 2013 as the world’s largest oil producer.
And when it comes to American oil and gas production, the place to remember is the Permian Basin in Texas, in spite of all the talk about the Bakken. Although the Bakken fields in the Dakotas remain highly productive, the existing and future potential represented by the Permian Basin exceeds anything in the country. In fact, roughly 60% of all the oil produced in America currently comes out of the Permian Basin in western Texas, and estimates now suggest that there’s much more to come. New technologies are opening up major new oil deposits in the area previously unavailable.
In the case of Victory Energy, the company recently announced that it is on pace to double in size for the 2013 fiscal year, and do so again very quickly with currently held Permian Basin properties. Although still a young company, undiscounted proved reserves are expected to exceed $6.6 million for the 2013 reporting period, delivering a significant impact on current and future revenue.
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
