Northwire Canada EditionThursday, October 15, 2026
Northwire
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GOLD 4107.90 −1.7% SILVER 55.88 −6.1% COPPER 6.62 −1.6% OIL 95.09 +1.0% PALLADIUM 1096.50 −2.7% CIA 2.64 −0.4% BTO 7.09 −4.3% MCI 0.155 +0.0% CAN 0.065 +0.0% BLDS 0.335 +8.1% SAO 0.050 +0.0% SF 0.315 +0.0% BEA 0.055 −15.4% BMM 3.90 +11.1% AUGC 0.295 −13.2% MFG 3.34 −3.8% CDE 21.33 −7.7% CYG 0.160 −5.9% RSMX 0.100 −4.8% TUF 0.830 −5.7% GPG 0.285 −3.4% GOLD 4107.90 −1.7% SILVER 55.88 −6.1% COPPER 6.62 −1.6% OIL 95.09 +1.0% PALLADIUM 1096.50 −2.7% CIA 2.64 −0.4% BTO 7.09 −4.3% MCI 0.155 +0.0% CAN 0.065 +0.0% BLDS 0.335 +8.1% SAO 0.050 +0.0% SF 0.315 +0.0% BEA 0.055 −15.4% BMM 3.90 +11.1% AUGC 0.295 −13.2% MFG 3.34 −3.8% CDE 21.33 −7.7% CYG 0.160 −5.9% RSMX 0.100 −4.8% TUF 0.830 −5.7% GPG 0.285 −3.4%
Drill Results Routine +

Petro Victory Energy Announces Successful SJ-12 Well Results

Petro Victory Well Results Validate Assets Amidst Capital Strain

Executive Summary
  • 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.
Material Impact
  • 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.
VRY · Price
Company Overview
  • 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.
Read the original news release →

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