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Permian Player Victory Energy Names New CFO

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Victory Energy Corporation has reported that Fred Smith will become the Company's new Chief Financial Officer and Controller effective June 2, 2014.

Current Controller Luther Poehlmann is retiring to spend more time with his family, but will remain with the Company to ensure a successful transition.

Kenny Hill, Victory's CEO, commented: "On behalf of the board and senior management team, I would like to welcome Fred to Victory Energy. Fred's extensive public company financial and operational expertise in the upstream oil and gas sector is exactly what we need at this time to assist with our growth through acquisitions and drilling. He has implemented and managed financial reporting for other Permian Basin focused public companies that are the size we hope to be in coming years. Our ability to attract a seasoned executive of Fred's caliber is further testament to the strong relationships we have in industry and the exciting future ahead for our company."

Mr. Smith has over 36 years of financial, compliance and operational reporting experience, including internal controls and SOX compliance. Prior to joining Victory, Fred was Corporate Controller of Pioneer Natural Resources (a NYSE/S&P 500 company) from 2008 to 2012. He was responsible for financial reporting, capital and operating expense reporting and application process controls. He then briefly worked as Senior Vice President and Chief Accounting Officer of Magnum Hunter Resources and has been working as an independent consultant since 2013. Fred has worked for variety of energy companies during his career ranging from small privately held to major upstream entities. Fred has a B.S. in Accounting from the University of New Orleans and is a CPA - having worked for Ernst & Young as a senior auditor from 1974 to 1978.