CALGARY, AB , July 18,
2023 /CNW/ - Petro-Victory Energy Corp. (TSXV: VRY)
is delighted to announce the appointment of Mr. Gervasio Barzola as an Advisor to the CEO with
responsibility for directing and leading the Geological &
Geophysical (G&G) Subsurface team. With over 34 years of
industry experience, including 14 years specifically in
unconventional reservoirs, Barzola brings a wealth of
knowledge and expertise to Petro
Victory.
Highlights:
- 22-year career and former VP at Pioneer Natural Resources
("Pioneer")
- Led the development plan for 800,000 acres in the Permian
Basin
- Led the team that discovered, appraised, and defined the
development plan
for Pioneer's Eagle Ford Play in South
Texas
- Advised YPF, Tecpetrol, Phoenix, CGC, and Pluspetrol on Neuquén Basin
Vaca Muerta & Austral Basin Projects
Under the direction of Barzola, Pioneer drilled and completed
over 1,000 wells in the Permian multi-reservoirs' shale. After his
22-year career at Pioneer, Barzola has advised several other
prominent oil and gas companies, such as YPF, Tecpetrol,
Phoenix, CGC, and Pluspetrol, on
their successful Neuquén Basin Vaca Muerta projects. Barzola has
vast experience in designing and monitoring subsurface technical
initiatives, defining data acquisition strategies and leveraging
critical information to de-risk reservoirs. His expertise and
experience have allowed him to make valuable recommendations based
on analogs in the USA
(EagleFord/Permian) and to modernize shale production in
Latin America.
Mr. Barzola is a highly accomplished geologist and co-author of
multiple influential papers on unconventional resources and has
gained recognition for his expertise and contributions to the
energy industry. With an extensive background in shale plays, Mr.
Barzola has been a key figure in analyzing and understanding the
potential of unconventional resources.
Throughout his career, Mr. Barzola has co-authored several
notable papers that have garnered attention within the industry.
Some of his prominent works include "Assessing Well Performance in
a Prolific Liquids-rich Shale Play - An Eagle Ford Case Study,"
published in the AAPG Eagle Ford Memoir, and "Eagle Ford Reservoir
Characterization from Multisource Data Integration" for which he
was recognized with the AAPG's John W.
Shelton Search & Discovery Award in 2014. Additionally,
Mr. Barzola chaired panels and served as a keynote speaker at the
Unconventional Resources Technology Conference (URTEC), where he
delivered presentations on topics such as well spacing in the Eagle
Ford of South Texas and leveraging
seismic data for reservoir characterization.
His contributions also extend to international events, where he
has shared his knowledge and insights. Mr. Barzola presented at the
SPE Buenos Aires in Argentina in
2016, discussing key learnings from the development of the Eagle
Ford and Wolfcamp Shale plays. He also participated as a panel
moderator and co-author at the SPE Argentina event in 2018,
focusing on the completion of design and optimization programs in
the Permian Basin.
In addition to his academic and professional achievements, Mr.
Barzola has delivered numerous industry talks across the United States, Argentina, Colombia, and Mexico, demonstrating his commitment to
sharing knowledge and advancing the understanding of unconventional
resources.
Richard F. Gonzalez,
Petro-Victory CEO, commented:
"Gervasio's appointment marks an important milestone for
Petro Victory. With his extensive
experience in the energy industry and his deep understanding of
conventional and unconventional resources, we are confident that
Gervasio will make immediate and significant contributions to
Petro Victory. Gervasio has a proven
track record in creating, leading, and executing development plans.
We look forward to his guidance and insights as we realize the
maximum value of our reserves and resources in Brazil."
About Petro-Victory Energy
Corp.
Petro Victory Energy Corp. is engaged in the acquisition,
development, and production of crude oil and natural gas resources
in Brazil. The company holds 100%
operating and working interests in thirty-eight (38) licenses
totaling 257,604 acres in two (2) different producing basins in
Brazil. Petro Victory generates accretive shareholder
value through disciplined investments in high-impact, low-risk
assets. The Company's Common Shares trade on the TSX Venture
Exchange ("TSXV") under the ticker symbol VRY.
Cautionary Note
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.
Advisory Regarding Forward-Looking
Statements
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 as a result of 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
the actual results achieved will be the same in whole or in part as
those referenced in the forward-looking statements. 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.