Victory Oilfield Tech, Inc. (VYEY)

[Michaelfaris77]

Victory Energy Reports Revenue

Jul 7, 2008 08:01:38 (ET)

CARSON CITY, NV, Jul 07, 2008 (MARKET WIRE via COMTEX) -- Victory Energy Corporation (VYEY, Trade ) announced today its fifth revenue payment from natural gas sales related to wells producing in Victory's Canyon Sandstone Gas play located in the Texas Permian Basin.

The revenue of approximately $92,170 pre-distribution represents sales of natural gas production for the month of April. The revenue is from Victory's interest in gas wells producing from the Canyon Sandstone zone. This represents an 18% increase in revenue over the previous month and includes the gas production from eight wells in the revenue cycle.

"We anticipate revenues to increase steadily as additional wells are drilled, completed, and brought online. In addition to new wells, we also expect increases in the value we receive for natural gas to boast revenues as well," stated Jon Fullenkamp, President of Victory Energy Corporation.

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