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Petro-Victory Energy and BlueOak Investments Acquire Capixaba Energia, Expanding Brazil Onshore Operations
Petro-Victory Energy Corp. (TSXV: VRY) ("Petro-Victory" or the "Company") and BlueOak Investments ("BlueOak") have signed a sale and purchase agreement to acquire Capixaba Energia LTDA, a fully integrated onshore Brazilian production company with strong financials and near-term growth potential. The transaction is expected to close in the second quarter of 2025.
About this update from Petro-victory Energy Corp Class A
[{"type":"text","content":"DALLAS, March 6, 2025 /PRNewswire/ - Petro-Victory Energy Corp. (TSXV: VRY) ("Petro-Victory" or the "Company") and BlueOak Investments ("BlueOak") have signed a sale and purchase agreement to acquire Capixaba Energia LTDA, a fully integrated onshore Brazilian production company with strong financials and near-term growth potential. The transaction is expected to close in the second quarter of 2025.","length":452,"tagName":"p"},{"type":"image","alt":"Petro Victory Energy (CNW Group/Petro-Victory Energy Corp.)","displaySize":"","headline":null,"caption":"Petro Victory Energy (CNW Group/Petro-Victory Energy Corp.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":328,"url":"https://media.zenfs.com/en/prnewswire.com/9420079b04ab7d8c059f5b3485420016"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/vjhOgwdyRBIM3uE95uFFcw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTU3ODtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/9420079b04ab7d8c059f5b3485420016","width":400,"height":328}},"href":"https://mma.prnewswire.com/media/2635173/Petro_Victory_Energy_Corp__Petro_Victory_Energy_and_BlueOak_Inve.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Key Acquisition Highlights ","length":31,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Strategic Growth Hub: Capixaba Energia generates strong cash flow and owns critical infrastructure assets, positioning Petro-Victory and BlueOak for accelerated growth in Brazil's onshore oil and gas sector.","length":216,"tagName":"p"}]},{"val":[{"type":"text","content":"Proven Oil Fields & Exploration Potential: The acquisition includes four oil fields in the Espírito Santo Basin (including Lagoa Parda Cluster) plus two exploration blocks adjacent to major producers.","length":214,"tagName":"p"}]},{"val":[{"type":"text","content":"Production Expansion: Current output of approximately 400 boe/d (88% oil) with expectations to grow substantially within the next 12-18 months following a detailed and planned workover and drilling campaign targeting proven reserves.","length":238,"tagName":"p"}]},{"val":[{"type":"text","content":"Acquisition Terms: Total Price: USD $17.5 million (BRL $105 million) including earn-outs, funded by BlueOak and future ...