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COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Victory Completes Deal
LOS ANGELES, CA, Mar 29, 2006 (MARKET WIRE via COMTEX) -- Victory Capital Holdings Corporation (OTC BB: VTYC) announced today it has succeeded in negotiating the joint venture agreement with TD Energy, LLC of Tulsa, Oklahoma, for approximately 7,000 acres in Pawnee County, Oklahoma. Victory's initial participation in the project is for 5 wells to be drilled for evaluation of production in the Wilcox, Arbuckle, Woodford Shale, Prue, and Dawson zones. Victory has taken a 45% interest in this upcoming drilling activity. Offset production initially shows new gas wells reaching 2 million cubic feet of gas production per day with a steady rate of 800 cubic feet of gas per day stabilized at the end of several months. Regional aspects of the Cherokee Basin show wells drilled 20 years ago still producing economic amounts.
"Michael Korte, the lead geologist on the Skedee Oil & Gas Development Project, has 25 years experience in similar fields in the Oklahoma area. His review of the subsurface geophysical data from approximately 70 drilled and logged wells in and around the area supports his conservative recoverable estimate of 15 billion cubic feet of gas for the project. In his estimation, each well drilled will recover approximately 3/4 billion cubic feet of gas," stated Jon Fullenkamp, CEO of Victory Capital Holdings.
TD Energy, LLC is an independent oil and gas producer in Okfuskee and Pawnee Counties Oklahoma. TD Energy was instrumental in discovering certain Prue, Gilcrease, Red Fork and Penn Unconformity zones in Okfuskee County. These fields have proven to be highly successful for TD Energy.
About Victory Capital Holdings Corp: Victory Capital Holdings Corporation (http://www.vtyc.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
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Victory Updates 5 Million Barrel Oil Estimate
LOS ANGELES, CA, Mar 15, 2006 (MARKET WIRE via COMTEX) -- Victory Capital Holdings Corporation (OTC BB: VTYC) Montana Glasgow Prospect staff geologist, Bill Clark, with over 40 years experience in all phases of geological exploration in the Rocky Mountain region, supports the estimated 5 million barrels of oil reserves for the Glasgow field located in the Williston Basin from his analysis of the seismic and topographical information. The Glasgow Prospect, identified through similarities in seismic work completed in Michigan, which established production in the Michigan Basin from similar "Wrench Faults." Seismic information of the proposed drill site shows small repeat and normal faults along a wrench structure. This type of repeated sections may be similar to wrench structures found associated in the Michigan Basin, cumulative production for this basin to date is 1.3 billion barrels of oil and 6,408 Bcf of gas.
The Williston Basin is one of nine major petroleum provinces in the northern Rocky Mountains-Great Plains area. It has four known giant oil fields, at Beaver Lodge, Pine, Little Knife, and Billings Nose, each of which contains over a hundred million barrels of oil. The basin has produced more than 1.2 billion barrels of oil since Amerada drilled the No. 1 Clarence Iverson Well near Minot, North Dakota in 1951. The U.S. Geological Survey predicts that another 700 million barrels remain to be found.
"With estimates of 5 million barrels at today's prices this will be equivalent to a $300,000,000 asset on our books," stated Jon Fullenkamp CEO of Victory Capital Holdings Corporation.
About Victory Capital Holdings Corp: Victory Capital Holdings Corporation is a publicly traded, developmental stage petroleum exploration company primarily dedicated to the oil & gas industry and similar energy related opportunities. (http://www.vtyc.com) 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.
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