Have a look at this. https://www.newswire.ca/en/releases/archive/April2022/26/c5861.html
CALGARY, AB, April 26, 2022 /CNW/ - Petro-Victory Energy Corp. ("Petro-Victory" or the "Company") (TSXV: VRY) is delighted to announce a 98% increase of its before tax value discounted at 10% ("PV10 Valuation") net 2P reserves from USD$90.4 million in year-end 2020 to USD$178.7 million in year-end 2021.
As of December 31, 2021, total proved plus probable ("2P") reserves of 4.5 million barrels of oil and a PV10 Valuation of CAD$223.4 million (USD$178.7 million) has been assigned to the company for the Andorinha, Sao Joao, Alto Alegre, and Trapia fields in Brazil. This represents a 2P Net Asset Value of CAD$12.46/share on an undiluted basis (17,929,139 shares in issue today). The reserves data set forth herein is based on an independent reserve assessment and evaluation prepared by GLJ, Ltd. dated April 21, 2022 with an effective date of December 31, 2021 ("The Reserve Report").