VRY Petro Victory Energy Corp

CALGARY, AB, July 11, 2023 /CNW/ - Petro-Victory Energy Corp. (TSXV: VRY) is delighted to announce the appointment of Mr. Andre Naslausky as Chief Operating Officer. With a distinguished international career in the oil and gas industry, Mr. Naslausky has consistently demonstrated his ability to drive profitable growth and operational excellence.

Highlights

• Former Vice President of Schlumberger and Managing Director of Maha Energy Brazil
• Extensive experience in Operations, HSE, Engineering, and Business Development
• Holds a Master's in Management for the Oil and Gas Industry from Heriot-Watt University, Edinburgh

Most recently, Mr. Naslausky served as the Managing Director of Maha Energy Brazil, an independent onshore oil and gas producer recently acquired by PetroReconcavo, where he successfully oversaw the company's concession areas in Brazil, including the Tie field in the Reconcavo Basin and Tartaruga in Sergipe. In this role, he ensured the safe achievement of production targets, implemented effective oil and gas offtake strategies, and optimized capital expenditure to deliver the best OPEX/bbl. Additionally, Mr. Naslausky led efforts to enhance production operations and facilities, streamline E&P projects, and maximize productivity and capacity.

Prior to his tenure at Maha Energy, Mr. Naslausky served as a Senior Advisor at 3R Petroleum (3R Offshore), where he was responsible for production development and investment projects of substantial complexity and value. He played a pivotal role in structuring a new organization and project management office, as well as leading the technical evaluation and steering committee for the Albacora bid.

As Operations Director at DBO Energy, Mr. Naslausky partnered with 3R Petroleum in a joint venture focused on acquiring and operating mature offshore fields, driving efficiency, productivity, and returns. His responsibilities included asset due diligence, scouting cost efficiency opportunities, revenue modeling, bidding strategies, and more.

Earlier in his career, Mr. Naslausky showcased his leadership capabilities as the Vice President of the Drilling Group for Schlumberger, overseeing drilling operations in Saudi Arabia and Bahrain. During his tenure, he managed a workforce of 3,000 employees across various services, including major turnkey projects for Saudi Aramco.

Mr. Naslausky's educational background is equally impressive, with a Mechanical Aeronautical Engineering degree from the Instituto Tecnológico de Aeronáutica (ITA) in Brazil, complemented by a Master's in Management for the Oil and Gas Industry from the Edinburgh Business School at Heriot-Watt University.

Petro-Victory Energy Corp. is confident that Mr. Naslausky's extensive expertise, strategic mindset, and proven track record will significantly contribute to the Company's ongoing success. His appointment reinforces Petro-Victory's commitment to cultivating a high-caliber executive team capable of driving growth and operational excellence.

Richard F. Gonzalez, Petro-Victory CEO commented:

"I am very pleased to announce Andre as our new Chief Operating Officer. Andre has proven expertise in Operations, HSE, Engineering, and Business Development in Brazil. I am confident that Andre's leadership and experience will make an immediate impact on our company. Our entire team looks forward to working with Andre as we continue to maximize value for our shareholders.

We also express our gratitude to Richard Lane for his instrumental role in establishing Petro Victory Energy as a leading onshore player in Brazil. Mr. Lane will remain with the Company during the next 90 days to ensure a smooth transition and provide ongoing support."

Andre Naslausky, Petro-Victory COO, commented:

"I am excited and honored to be part of the Petro-Victory leadership team. Petro-Victory has an extensive and impressive portfolio of assets in Brazil. I am committed to working alongside Richard, the executive team, and the talented individuals in Brazil to continue building on the Company's momentum by significantly increasing production across the portfolio."

Petro-Victory Energy Corp. (TSXV: VRY) is a dynamic energy company focused on the acquisition, development, and production of crude oil and natural gas resources in Brazil. With a strong presence in Brazil, Petro-Victory holds a 100% operating and working interest in thirty-eight (38) licenses, covering an extensive land area of 257,604 acres across two (2) producing basins.

Driven by a commitment to delivering value to shareholders, Petro-Victory strategically invests in high-impact, low-risk assets with the potential for significant growth and returns. The company's operations are guided by disciplined practices and a relentless pursuit of operational excellence.

At Petro-Victory Energy Corp., we recognize the importance of energy security and sustainable energy practices. We are dedicated to minimizing our environmental impact while meeting the growing global demand for energy resources. Our team of industry professionals and technical experts are focused on maximizing production efficiency, optimizing asset utilization, and leveraging innovative technologies to drive operational success.

Listed on the TSX Venture Exchange under the ticker symbol VRY, Petro-Victory Energy Corp. provides an opportunity for investors to participate in the exciting growth potential of the Brazilian energy market while benefiting from the company's strategic approach and long-term vision.

For more information about Petro-Victory Energy Corp., please visit our website at www.petrovictoryenergy.com.

Note: This description provides an overview of Petro-Victory Energy Corp. and should not be considered a comprehensive representation of the company.

Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States unless an exemption from such registration is available.

In the interest of providing Petro-Victory's shareholders and potential investors with information regarding Petro Victory's future plans and operations, certain statements in this press release are "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation (collectively, "forward-looking statements"). In some cases, forward-looking statements can be identified by terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "objective," "ongoing," "outlook," "potential," "project," "plan," "should," "target," "would," "will" or similar words suggesting future outcomes, events or performance. The forward-looking statements contained in this press release speak only as of the date thereof and are expressly qualified by this cautionary statement.

Specifically, this press release contains forward-looking statements relating to, but not limited to, our business strategies, plans and objectives, and drilling, testing, and exploration expectations. These forward-looking statements are based on certain key assumptions regarding, among other things: our ability to add production and reserves through our exploration activities; the receipt, in a timely manner, of regulatory and other required approvals for our operating activities; the availability and cost of labor and other industry services; the continuance of existing and, in certain circumstances, proposed tax and royalty regimes; and current industry conditions, laws and regulations continuing in effect (or, where changes are proposed, such changes being adopted as anticipated). Readers are cautioned that such assumptions, although considered reasonable by Petro-Victory at the time of preparation, may prove to be incorrect.

Actual results achieved will vary from the information provided herein due to numerous known and unknown risks and uncertainties and other factors.

The above summary of assumptions and risks related to forward-looking statements in this press release has been provided in order to provide shareholders and potential investors with a complete perspective on Petro-Victory's current and future operations, and such information may not be appropriate for other purposes. There is no representation by Petro-Victory that actual results achieved will be the same in whole or in part as those referenced in the forward-looking statements, and Petro Victory does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.

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SOURCE Petro-Victory Energy Corp.