Petro-Victory Energy is pleased to provide an update on the workover campaign to increase oil production in the 100% owned São João field. SJ-06 well successfully completed adding additional 8.3 m of oil pay in the Tutoia formation. SJ-06 well tested at rate of 228 bopd during initial 35-hour test. SJ-06 Well. On Feb 27th, the SPT-129 workover rig mobilized from the SJ-01 well to the SJ-06 well with a workover program [...]
Petro-Victory Energy is pleased to provide an update on the workover campaign to increase oil production in the 100% owned São João field in the Barreirinhas Basin of Maranhão. SJ-01 successfully completed ahead of schedule and under budget adding an additional 32.2 meters of oil pay in the Tutoia formation. SJ-01 initial production rate of 303 bopd. SJ-11 successfully completed on schedule and under budget adding an [...]
Petro Victory Energy is pleased to announce that further to the news releases dated Dec 19, 2023 and Feb 14, it has increased the amount raised under the private placement to USD $2.7 million and has closed the Private Placement with an issuance of 1,205,350 units at a price of CAD $3.00 per unit. Each unit is comprised of: (i) one common share in the capital of the Company, (ii) one transferable share purchase warrant [...]
Petro-Victory Energy is pleased to announce execution of definitive agreements on a series of financing transactions previously announced on November 25th, 2020 which refinance existing debt on significantly improved terms, through a structure which includes a new US$5 million debt facility. Financing Highlights Established a new US$5.0 million secured loan with a 5-year term and average net interest cost below 2 [...]
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