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Petro-Victory Energy Corp Acquires 19 Oil Blocks Increasing Brazil Portfolio to 257,604 Acres (1,042 km2)
Petro-Victory Energy Corp Acquires 19 Oil Blocks Increasing Brazil Portfolio to 257,604 A...
About this update from Petro-victory Energy Corp Class A
[{"type":"text","content":"\n \n \n \n Petro-Victory Energy Corp Acquires 19 Oil Blocks Increasing Brazil Portfolio to 257,604 Acres (1,042 km2)\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n April 14, 2022\n \n \n /CNW/ -  Petro-Victory Energy Corp. (\"Petro-Victory\" or the \"Company\") (TSXV: VRY) is delighted to announce that it has secured 19 new oil and gas blocks in the Company's core operating area, the Potiguar Basin onshore\n \n Brazil\n \n . This acquisition cements Petro-Victory's status as one of the largest landholders in the highly petroliferous basin.\n \n \n \n \n \n \n \n \n \n \n Highlights\n \n \n \n \n The Company secured 19 new blocks in the onshore Potiguar Basin through its participation in the Agencia Nacional do Petroleo Gas Natural e Biocombustiveis of\n \n Brazil\n \n (\"ANP\") 3\n \n rd\n \n Oferta Permanente (\"Permanent Offer Round\");\n \n \n The acquisition of the blocks adds an additional 128,080 acres (518 sq km) almost doubling (+99%) the Company's existing portfolio of 19 blocks covering 129,524 acres (524 sq km);\n \n \n Upon completion the Company will hold a combined acreage position of 257,604 acres (1,042 sq km) making it one of the largest portfolios in\n \n Brazil's\n \n most prolific onshore basi\n \n \n The new blocks have 3D seismic coverage which the Company has already successfully sourced from ANP pre-bid allowing the Company to target specific blocks in its bidding strategy and to fast-track its future work program;\n \n \n In securing this dominant acreage position, the Company has committed to Work Program Guarantees of\n \n US$1,723,402\n \n with total Signing Bonuses of\n \n US$226,943\n \n ;\n \n \n \n \n Bid Round Success\n \n \n \n The Company today announces that it has successfully participated in the Agencia Nacional do Petroleo Gas Natural e Biocombustiveis of\n \n Brazil\n \n (\"ANP\") 3\n \n rd\n \n Oferta Permanente (\"Permanent Offer Round\") held in\n \n Rio de Janeiro, Brazil\n \n on\n \n April 13, 2022\n \n . Petro-Victory has been awarded 19 new ...