Petro Victory Energy Announces Successful SJ-12 Well Results

• Petro Victory Energy announced successful results from the SJ-12 well in the São João Field, Brazil.
• The well encountered 72 meters of net gas pay and 45 meters of oil shows across multiple formations.
• A stacked reservoir system was identified with 125m of net reservoir.
• Logging included resistivity, density, neutron, and sonic logs; RDT formation testing confirmed pressure continuity.
• CEO Richard F. Gonzalez stated results significantly exceed expectations and mark a major milestone.
• Follow-up well testing campaign is planned to evaluate deliverability for commercialization.

• The SJ-12 results validate the subsurface model and resource estimates previously announced in March 2026 (50.1 Bcf gas).
• While technically positive, the news must be weighed against the April 16 debt settlement amendment which increased share issuance for debt from $1M to $6.2M.
• The dilution risk from recent related-party financings limits the immediate upside potential of exploration success.
• Results are expected following the March drilling commencement announcement; thus, they are largely anticipated rather than a surprise discovery.
• The confirmation of stacked pay supports long-term value but does not immediately resolve liquidity concerns or production timelines.

• Petro Victory Energy Corp is an oil and gas exploration company focused on Brazil's Barreirinhas Basin.
• Flagship Project: São João Field (100% owned), estimated 50.1 billion cubic feet of non-associated gas resources.
• Strategic Asset Deal: Contributed selected Brazilian assets to Azevedo & Travassos Energia for a 10.25% stake in March 2026.
• Retained Assets: São João field, Capixaba Energia partnership, Alto Alegre and Trapiá concessions, and 28 exploration blocks in Potiguar Basin.