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Victory Energy to Double in Size; Anticipates 'Significant' Growth
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Victory Energy Corporation will double in size for the 2013 fiscal year and is poised for significant growth with currently held Permian Basin properties.
Undiscounted proved reserves are expected to exceed $6.6 million for the 2013 reporting period, delivering a significant impact on current and future revenue.
Company Growth2012 - 2013 Comparables (includes Q4 estimates)
100 percent increase in mineral and drilling funding ($1 million vs. $2 million) 97 percent increase in undiscounted proved reserve value ($3.3 million vs. $6.2 million) 106 percent increase in revenue ($326,000 vs. $674,000) 130 percent increase in oil as a percent of revenue (18 percent vs. 41 percent)In August 2013, Victory Energy announced a major increase in proved reserves and declared the company on track to…
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