Joint Statement JOINT STATEMENT FROM PRESIDENT ENERGY PLC AND PETRO-VICTORY ENERGY CORP PIRITY CONCESSION PARAGUAY President Energy PLC and Petro-Victory Energy Corp. for themselves and their subsidiary and associated companies (respectively the PE Group and the PV Group) are pleased to jointly announce the following; 1. That the parties have achieved an amicable resolution of all issues between themselves in relation to the Pirity Concession, Paraguay and all claims and actions have been discontinued and withdrawn. 2. The parties are pleased to put the recent events behind them and move forward constructively together led by PE Group as Operator of the Concession in what they hope will be a stronger and closer relationship