CALGARY, AB, Jan. 23, 2023 /CNW/ – Petro-Victory Energy Corp. ("Petro-Victory" or the "Company") (TSXV: VRY ) is pleased to announce the discovery of oil at its first well drilled in Brazil. The Company completed drilling operations at the PVE-01 well on October 12 th , 2022. PVE-01 is located within the 100% working interest Andorinha production concession in the Potiguar Basin, Northeast Brazil. The well was successfully drilled and cased down to 1,196m, with oil potential identified across multiple intervals following the evaluation of conventional wireline logging tools and correlating to nearby wells. Testing operations at PVE-01 commenced on December 26 th , 2022, utilizing the same testing rig that recently completed the successful workovers at the 100% owned São João field, located in the Barreirinhas Basin. Two (2) independent reservoirs in the PVE-01 well have tested and flowed oil to the surface: Zone 1 – 1,168.8-1,169.8m – Tested 37 API oil at a maximum oil cut of 50%, at a rate of 37 barrels of liquid per day – extrapolated to an oil production rate of 18.5 BOPD. Zone 2 – 1,157-1,160m – Tested 17 API oil at a maximum oil cut of 45%, at a rate […]
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