Petro-Victory Energy Corp V.VRY

Petro victory Brazil!!!! Low share FL 6.8M

[Alby123]

This is now a junior producing oil with low share float of 6.8 M with management owning 50 percent

[babyofbullion]

Interesting. What's the debt situation here?

[Alby123]

its recently just changed and is impressive So recently the borrowed 2 million and then another 1.4 M. So a total of 3.4M. But here is the kicker recently they partered with a billion dollar company in Brazil Imetame and they had excellent assets actually drilling a big well all paid for by imetame.  They never released the numbers of the well but must of been amazing as they are now

[baystock1]

The reason there is a low float of 7 million shares is because they did a 40 for 1 reverse split earlier this year. This is not something you want to draw attention to as it sound disastrous for long time shareholders. Also I think you are wrong about the company receiving 3.4 million as the net amount they will actually receive is much less. Most of the 3.4 million goes towards compensating

[Alby123]

Ok. Before jumping to conclusions I think you should call Richard to explain breakdown of sale.

[Alby123]

Baystock1, you could be right they might have to pay back capital but check out this statement in news release .  They must have good amount to spend on other properties.

[Alby123]

sorry forgot to add. news statement November 20th The cash proceeds, generated from the previously announced sale of non-operated assets, will fund the robust 2021 work program across our portfolio of oil fields.”

[retirebefore50j]

Where's all this VRY takeoff I read about