Petro-Victory Energy Corp Begins Drilling SJ-12 Well at Sao Joao Field, Brazil

Executive Summary

• Petro‑Victory Energy Corp. began drilling the SJ‑12 well at its wholly‑owned São João Field in Brazil’s Barreirinhas Basin.
• The field holds an estimated 50.1 billion cubic feet (1.4 bcm) of best‑estimate development‑pending contingent non‑associated gas resources per the GLJ report dated 31 Dec 2024.
• Completion and testing of SJ‑12 are intended to verify deliverability for initial gas commercialization aimed at regional industrial and power demand.

Key Details

• Well Identification: SJ‑12, single non‑associated gas well under the previously disclosed MOU.
• Location: São João Field, Barreirinhas Basin, Maranhão, Brazil – 100% owned and operated by Petro‑Victory.
• Resource Estimate: GLJ reserve & resource report (12/31/2024) cites 50.1 billion cubic feet (1.4 bcm) of non‑associated gas (Best Estimate Development Pending Contingent Resources, risked).
• Drilling Status: Commenced on 2 Mar 2026; drilling and subsequent testing are expected to confirm well deliverability.
• Commercialization Goal: Enable initial gas sales to serve regional industrial users and power generation, with flexibility for other market‑based solutions.
• Regulatory Note: All field activities remain subject to any required regulatory approvals.

Notable Quotes

(No direct CEO/CFO quotes were provided in the release.)