Brazil: Petro-Victory Energy announces independently certified 2P reserves of 2.8 million BO and PV10 valuation of USD90,386,000

Brazil: Petro-Victory Energy announces independently certified 2P reserves of 2.8 million BO and PV10 valuation of USD90,386,000
04 May 2021
As of December 31, 2020, total proved plus probable
('2P') reserves of 2.827 MMBO and a before tax value discounted at 10% of
US$90.386 million has been assigned to the company for the
Andorinha, Carapitanga, and Sao Joao oil fields in Brazil. This represents a 2P Net Asset Value of CAD$12.18/share on an undiluted basis (9,214,020 shares outstanding). The reserves data set forth herein is based on an independent reserve assessment and evaluation prepared by GLJ, Ltd. dated April 13, 2021 with an effective date of December 31, 2020.
Reserve Report Highlights:

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