Victory Energy provides production test results for Bootleg Canyon Field discovery well

Source: Victory Energy Corporation

Victory Energy Corporation (OTCQB: VYEY.PK), today announced that it has provided initial production results for the University "6" #1 well in the Bootleg Canyon (Ellenberger) Field, also known as the Tunis Creek project. The well was tested flowing at a daily rate of 252 barrels of oil and 300 Mmcf of natural gas with tubing pressure of 600 psi on a 12/64-inch choke.

The 2,397 acre multi-well Bootleg Canyon Oil Field is currently producing oil and gas in the prolific Permian Basin in west Texas . The first well (University "6" #1) was completed in late June 2011 and has continued to flow oil since that time. The well was later recognized as a "discovery" well by the Railroad Commission of Texas. Flow tests were performed using the wells' natural bottom-hole pressure and was limited to the lower portion of the Ellenburger formation in the wellbore. The company has commissioned an SEC qualified reserve report and will release that information as available. Several additional development wells may be drilled. Victory owns a 5% WI and 3.75% NRI in the prospect.

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