Petro-Victory Energy Signs Deal for Oil Fields

Petro-Victory Energy, in collaboration with Azevedo e Travassos Petroleo, has signed an exclusivity agreement with Brava Energia for the potential acquisition of 13 oil-producing fields located in Brazil's Potiguar Basin. The agreement, signed on December 17, 2024, encompasses the Porto Carão Cluster, which includes four concession contracts with four oil fields, and the Barrinha Cluster, comprising seven contracts covering nine fields. Petro-Victory has a 30-day exclusive negotiation period, extendable by mutual agreement, to finalize the acquisition details, including financial terms yet to be disclosed. This strategic move aims to enhance Petro-Victory's operational footprint in Brazil, where it already holds significant interests in oil and gas resources. Further information regarding the acquisition will be released as negotiations advance, highlighting the company's commitment to disciplined investments in the energy sector.