Victory Energy Corporation announced today the development plans for the acreage it holds in the Glasgow Prospect located in Valley County Montana.
The Corporation will continue to develop the Glasgow Prospect as a Wrench Fault oil deposit. The evidence of Wrench zones is supported by surveys and geological documentation. http://www.victoryenergyoilandgas.com/prospects/Montana-Report.pdf The geological findings place the potential production from multiple zones trapping oil in the Wrench Fault to be as high as 4,000,000 recoverable barrels of oil.
The company has initiated the process of identifying and mapping Lodgepole structures for further development. The Glasgow prospect has the potential for multiple development sites. Upon identification, each site will undergo specific tests including seismic mapping, which will determine its viability.
"Our original interest in this Prospect was the massive potential oil deposit from multiple oil bearing zones from the trap created by a wrench fault structure, this alone gives Victory an extremely valuable asset. Now with more knowledge and published success from Lodgepole deposits, in Valley County Montana, the Corporation believes identifying just a single Lodgepole well will double the production potential and value of the Prospect. Estimated recoverable hydrocarbons from a good Lodgepole well can be approximately 4,000,000 barrels of oil and 2 billion cubic feet of gas," stated Jon Fullenkamp, President of Victory Energy Corporation.
About Victory Energy Corporation:
Victory Energy Corporation (http://www.victoryenergyoilandgas.com) is a publicly traded, developmental stage petroleum company primarily dedicated to energy-related opportunities. The Company goal is to evaluate profitable options, develop a solid foundation through leadership and sound business acumen, and acquire producing wells as well as other potentially profitable prospects within the Oil & Gas Industry. Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those discussed in filings made by the Company with the Securities and Exchange Commission. The Company's filings may be accessed at the SEC's EDGAR system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements.
Contact:
Bentley Communications
Mr. Trevor Bentley, Investor Communications, 888-818-8738
bentleycomm@gmail.com
Source: Victory Energy Corporation
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