Page 14 - LatAmOil Week 15 2022

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INVESTMENT upstream market. The Permanent Offer Round in two different producing basins in Brazil. Pet-
was highly competitive with 79 E&P companies ro-Victory generates accretive shareholder value
Petro-Victory Energy qualified by ANP to participate in the bid round. through disciplined investments in high impact,
The closure and signing date for the 19 new low risk assets. The Company’s Common Shares
acquires 19 oil blocks, blocks is expected in Q4 2022, with the initial trade on the TSX Venture Exchange under the
ticker symbol VRY.
signature bonus payable on completion esti-
increasing Brazil portfolio mated to be $227,000 in addition to $1,723,402 Petro-Victory Energy, April 14 2022
in work programme related guarantees.
to 1,042 square km has announced that it will commence a drill- Petrobras comments on
Brazil Portfolio Summary: The Company
Petro-Victory Energy Corp. is delighted to ing and workover programme in Q2-2022 on receiving compensation
announce that it has secured 19 new oil and gas its Andorniha and Sao Joao fields with four
blocks in the Company’s core operating area, the new wells and a number of workovers targeting for Atapu block
Potiguar Basin onshore Brazil. This acquisition total production of over 1,000 bpd by year end.
cements Petro-Victory’s status as one of the larg- Ahead of commencing with the new drilling and Petrobras informs that it received today, at sight,
est landholders in the highly petroliferous basin. workover programme, the Company intends to the amount of BRL5.26bn from Shell Brasil
Bid Round Success: The Company today release an updated reserve report to the market Petróleo Ltda, referring to its share of 25% in the
announces that it has successfully participated before the end of April 2022. compensation for Atapu, a block acquired by the
in the Agencia Nacional do Petroleo Gas Nat- Petro-Victory now holds 38 blocks in the consortium composed by Petrobras (52.5%),
ural e Biocombustiveis of Brazil (ANP) 3rd highly prolific Potiguar Basin focusing on Shell (25%) and Total Energies EP Brasil Ltda
Oferta Permanente (Permanent Offer Round) high-impact, low-risk production drilling tar- (22.5%) in the 2nd Bidding Round for the Trans-
held in Rio de Janeiro, Brazil on April 13, 2022. gets. There are 29 historical wells drilled across fer of Rights surplus under the Production Shar-
Petro-Victory has been awarded 19 new oil and the 19 new blocks, with the majority of the ing Regime, on December 17, 2021.
gas blocks in the Potiguar Basin, Brazil. This new drilled wells establishing the presence of oil and This amount already includes the prelimi-
acquisition will increase the Petro-Victory Brazil gas shows. The blocks have 3D seismic coverage nary estimate of the gross-up of the taxes levied,
portfolio to 38 blocks (37 of those blocks in the which the Company has already successfully in accordance with the ordinance no. 08 of April
Potiguar Basin) and represents a 99% increase in sourced from ANP. The immediate work pro- 19, 2021 of the Ministry of Mines and Energy
the Company’s total acreage. The 19 new blocks gramme consists of a re-evaluation of the drilled (MME), and may be updated when Petrobras
cover 128,080 acres (518 square km) and are wells, reprocessing and mapping of seismic data, calculates the capital gain from the transfer of
located adjacent to Petro-Victory’s operating followed by ranking the numerous oil and gas assets to the Production Sharing regime.
infrastructure at the Andorinha, Alto Alegre, targets across the portfolio to solidify the drilling Petrobras expects to receive the full payment
and Trapia oilfields allowing for low-cost organic and workover programme for 2023 and beyond. regarding TotalEnergies’ stake, as disclosed to
expansion. Richard F. Gonzalez, Petro-Victory CEO, the market on December 17, 2021.
In addition, the new acquisitions are adja- commented: “Petro-Victory’s success in the 3rd The signing of the Production Sharing con-
cent to some of the largest producing fields in Permanent Offer Round is the culmination of six tract and the Coparticipation Agreement are
the Basin. The Potiguar Basin covers an area years of disciplined capital expenditure, focused expected to occur until April 29, 2022.
of approximately 60,000 square km with over work and execution in Brazil. We now have one Petrobras, April 13 2022
1bn barrels of oil produced onshore from >70 of the largest portfolios in Brazil’s most exciting
onshore oilfields in the basin. Onshore Potiguar onshore Basin, materially increasing our drilling Petrobras approves
has almost exclusively been held by Petrobras inventory, reserves and future production for
until the recent divestiture processes and Perma- many years to come. We appreciate, value and dividends payment
nent Offer rounds allowing new entrants to enter honor the continued trust placed in us by our
this highly prolific Basin. The current oil produc- shareholders.” Petrobras, following up on release of February
tion from the Potiguar Basin is about 32,000 bpd. Petro-Victory Energy Corp. is engaged in 23, 2022, informs that, in a meeting held today,
The Permanent Offer Round is a new ini- the acquisition, development, and production the Annual General Meeting (AGM) approved
tiative in Brazil which allows independent of crude oil and natural gas resources in Brazil. the remuneration to shareholders relative to the
E&P companies to bid on blocks relinquished The company holds 100% operating and work- Fiscal Year 2021 in the amount of BRL7.773202
by Petrobras as they exit the onshore Brazil ing interests in 19 licenses totaling 129,524 acres per outstanding share (common or preferred).

P14 www. NEWSBASE .com Week 15 14•April•2022