CALGARY,
AB, Jan. 7, 2025 /CNW/ - Petro-Victory
Energy Corp. (TSXV: VRY) ("Petro-Victory" or the
"Company") is pleased to announce a strategic
partnership with Blue Oak Investments ("Blue Oak") and the
signing of a term-sheet to form a new Special Purpose Vehicle (SPV)
aimed at acquiring Exploration and Production (E&P) assets and
companies in Brazil and
Latin America. Under this
partnership, Blue Oak will provide the capital, while Petro-Victory
will operate and develop the acquired assets.
About Blue Oak
Blue Oak (https://blueoak.com.br/) is a prominent investment
firm with over 70 years of combined experience in the financial
markets, having led more than BRL 40
billion in transactions across Brazil and globally, with a focus on oil, gas,
and energy sectors. The firm specializes in identifying businesses
with strong fundamentals, such as stable cash flow, fixed assets,
and market leadership. Founded by industry veterans, Blue Oak
leverages expertise across private equity, distressed investing,
and special situations globally.
Term Sheet
The Company has signed a term sheet with Blue Oak to establish
an SPV aimed at acquiring assets and companies in Brazil and Latin
America. The SPV will be structured to achieve an equitable
ownership participation in the SPV, ensuring a balanced and
mutually beneficial relationship. The partnership leverages the
complementary strengths of both organizations. Blue Oak not only
provides the necessary capital but also brings extensive expertise
in strategic investments and the energy industry. Petro-Victory
will manage the operations, drawing on its deep experience in the
region and proven track record in onshore oil and
gas development.
Richard F. Gonzalez, CEO of
Petro-Victory Energy, commented:
"We are proud to join forces with Blue Oak in this
transformative partnership. Their strong capital position to
finance acquisitions and extensive experience in structuring oil
and gas transactions, combined with our operational excellence and
deep industry knowledge, positions us to drive meaningful growth
and unlock significant value in the E&P sector across
Brazil and Latin America."
Meton Morais, Founding Partner at Blue Oak,
commented:
"We are very pleased to establish this relationship with
Petro-Victory, a distinguished organization with a world-class
team, as we work together to explore promising opportunities in
Brazil
and Latin America."
About Petro Victory Energy Corp.
Petro Victory Energy Corp. is engaged in the acquisition,
development, and production of crude oil and natural gas resources
in Brazil. The company holds 100%
operating and working interests in thirty-eight (38) licenses
totaling 257,604 acres in two (2) different producing basins in
Brazil. Petro-Victory generates
accretive shareholder value through disciplined investments in
high-impact, low-risk assets. The Company's Common Shares trade on
the TSXV under the ticker symbol VRY.
Cautionary Note
Neither the TSXV nor its Regulation Services Provider (as that
term is defined in the policies of the TSXV) accepts responsibility
for the adequacy or accuracy of this release.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities, in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction. The
securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S.
Securities Act"), or any state securities laws and may not be
offered or sold within the United
States unless an exemption from such registration is
available.
Advisory Regarding Forward-Looking Statements
In the interest of providing Petro
Victory's shareholders and potential investors with
information regarding Petro
Victory's future plans and operations, certain statements in
this press release are "forward-looking statements" within the
meaning of the United States Private Securities Litigation Reform
Act of 1995 and "forward-looking information" within the meaning of
applicable Canadian securities legislation (collectively,
"forward-looking statements"). In some cases, forward-looking
statements can be identified by terminology such as "anticipate,"
"believe," "continue," "could," "estimate," "expect," "forecast,"
"intend," "may," "objective," "ongoing," "outlook," "potential,"
"project," "plan," "should," "target," "would," "will" or similar
words suggesting future outcomes, events or performance. The
forward-looking statements contained in this press release speak
only as of the date thereof and are expressly qualified by this
cautionary statement.
Specifically, this press release
contains forward-looking statements relating to,
but not limited to, our business strategies, plans and objectives,
and drilling, testing, and exploration expectations.
These forward-looking statements are based on certain key
assumptions regarding, among other things, our ability to add
production and reserves through our exploration activities;
the receipt, in a timely manner, of regulatory and other
required approvals for our operating activities; the approval
by the TSXV of the Market Maker Agreement; the availability
and cost of labor and other industry services; the continuance
of existing and, in certain circumstances, proposed tax and
royalty regimes; and current industry conditions, laws and
regulations continuing in effect (or, where changes
are proposed, such changes being adopted
as anticipated). Readers are cautioned that
such assumptions, although considered reasonable by
Petro Victory at
the time of preparation, may prove
to be incorrect.
Actual results achieved will vary from the information provided
herein as a result of numerous known and unknown risks and
uncertainties and other factors.
The above summary of assumptions and risks related to
forward-looking statements in this press release has been provided
in order to provide shareholders and potential investors with a
more complete perspective on Petro
Victory's current and future operations, and such
information may not be appropriate for other purposes. There is no
representation by Petro Victory that
actual results achieved will be the same in whole or in part as
those referenced in the forward-looking statements, and
Petro Victory does not undertake any
obligation to update publicly or to revise any of the included
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required by applicable
securities law.
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SOURCE Petro-Victory Energy Corp.
