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Petro-Victory Energy Corp Announces 43% Increase in Proved Plus Probable Reserves of 6.939 Million Barrels of Oil Equivalent and PV10 Valuation of CAD$346.3 million (USD$255.7 million)
Petro-Victory Energy Corp Announces 43% Increase in Proved Plus Probable Reserves of 6.939 Millio...
About this update from Petro-victory Energy Corp Class A
[{"type":"text","content":"\n \n \n \n Petro-Victory Energy Corp Announces 43% Increase in Proved Plus Probable Reserves of 6.939 Million Barrels of Oil Equivalent and PV10 Valuation of CAD$346.3 million (USD$255.7 million)\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.prnrbrb0{\nBORDER-RIGHT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnsbtb0{\nBORDER-TOP:black 0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnpr2{\nPADDING-RIGHT:0.17em\n}\n.prnpl2{\nPADDING-LEFT:0.17em\n}\n.prnsbbb0{\nBORDER-BOTTOM:black 0pt\n}\n.prnsblb0{\nBORDER-LEFT:black 0pt\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 May 2, 2023\n \n \n /CNW/ - Petro-Victory Energy Corp. (\"Petro-Victory\" or the \"Company\") (TSXV: VRY) is delighted to announce a 43% increase of its before-tax value discounted at 10% (\"PV10 Valuation\") net proved plus probable reserves (\"2P\") from\n \n USD$178.7 million\n \n in year-end 2021 proforma reserve report to\n \n USD$255.7 million\n \n in year-end 2022\n \n 1\n \n .\n \n \n \n \n \n \n \n \n \n As of\n \n December 31, 2022\n \n , total 2P reserves of 6.939 million barrels of oil equivalent and a PV10 Valuation of\n \n CAD$346.3 million\n \n (\n \n USD$255.7 million\n \n ) has been assigned to the Company for the Andorinha, Sao Joao, Alto Alegre, Trapia, POT-T-281, and POT-T-391 fields in\n \n Brazil\n \n . This represents a 2P Net Asset Value of\n \n CAD$16.94\n \n /share on an undiluted basis (20,429,849 shares in issue today). The reserves data set forth herein is based on an independent reserve assessment and evaluation prepared by GLJ, Ltd. dated\n \n April 28, 2023\n \n , with an effective date of\n \n December 31, 2022\n \n (\"The Reserve Report\").\n \n \n \n \n \n \n \n \n 1\n \n Refer to the section entitled \"Oil and Natural Gas Advisories\" for additional disclosures regarding oil and natural gas ‎reserves, contingent resources and prospective resources. In addition refer to \"Oil and – Natural Gas Advisories - Other ‎Metrics\" for additional disclosu...