3% Royalty on 3 BillionBoe , VRY : TSXV : .015
June 12 2017
President's management estimates that its Paraguayan prospect and lead portfolio identified to date contains a combined mean unrisked Prospective Resources net to President of 3 Billion BOE. This includes 10 Tcf of gas resources and 300 MMbbls of drill-ready oil resources in the extension of the light oil play proven by existing producing fields 30-70 km away across the Argentine border.
Further
Oct 7 2015
A Net Profits Interest of 3% of net income generated from successful commercial production of hydrocarbons in the Pirity Concession to be paid to PH. April 25 2017
| Number of Voting and
Restricted Voting Shares | Percentage of Total
Outstanding Shares |
| Richard Gonzalez, CEO | 72,533,334 | 30.1% |
| Harvison Capital Management | 57,991,111 | 24.0% |
| Directors and Officers | 11,542,213 | 4.3% |
| Patrick Yeghnazar | 25,000,000 | 9.3% |
Total 167,066,658 67.7%
CALGARY,
May 26, 2017 /CNW/ - Petro-Victory Energy Corp. ("Petro-Victory" or the "Company") (TSX-V: VRY) announces that it has approved the settlement of outstanding management fees and salaries payable to certain directors, officers and employees of the Corporation in an aggregate settlement amount of
$1,354,575.40, through the issuance of an aggregate of 27,091,508 common shares in the capital of the Corporation ("
Common Shares"), at a price of
$0.05 per Common Share. The Common Shares are subject to a four-month hold period from the date of issuance in accordance with applicable securities laws.
Oct 7 2015
In the event of a farm-out taking place in relation to the Pirity Concession and back costs being paid, a sum limited to the first US$2.7million of back costs received by President to be paid to the Petro-Victory group; and June 2 2017
President has determined that it is now appropriate to move forward to identify serious farm-out partners for its Paraguay interests
12 June 2017
PRESIDENT ENERGY PLC
("President", “the Company” or “President Energy”) Appointment of Advisors for Paraguay Farm-outs
Management Estimate of Paraguay Resources
President Energy (AIM: PPC), the upstream oil and gas company is pleased to announce that it has appointed the specialist global oil and gas adviser ENVOI to support the prospective farm-outs of its Paraguay interests together with an updated management estimate of Prospective Resources.
The Company’s four onshore Paraguayan Concessions in which it is interested extend to some 34,000 km2, and benefit from extensive 2D and 3D seismic data acquired by President as well as the two Paleozoic exploration wells drilled in 2014, which successfully identified the petroleum system with significant oil and gas shows.
During the last 2 years, further detailed geological and geophysical work has been conducted which gives strong support to President's view as to prospectivity of its Licence areas.
President's management estimates that its Paraguayan prospect and lead portfolio identified to date contains a combined mean unrisked Prospective Resources net to President of 3 Billion BOE. This includes 10 Tcf of gas resources and 300 MMbbls of drill-ready oil resources in the extension of the light oil play proven by existing producing fields 30-70 km away across the Argentine border.
Further details of ENVOI and President's assets can be found at: https://envoi.co.uk/projects/active-projects/americas/paraguay/
Peter Levine, Chairman and Chief Executive commented:
"With significantly increased investment interest in South America energy, particularly gas and with the significant onshore prospective resources of President's interests in Paraguay, we take the view that it is the right time to take a pro-active approach to developing the significant Prospective Resources of the Company in that Country.
"This is particularly so due to the investment in wells, seismic and other technical work already made and carried out by President providing drill ready prospects and with our experienced management teams across the border at our Puesto Guardian Concession in Argentina”.