Petro Victory Energy Corp. announced the results of 7-SJ-12DA-MA well ("SJ-12") in the São João ("SJ") Field, Barreirinhas Basin, Brazil. The well encountered ~280 meters (918 feet) of gross interval containing hydrocarbon-bearing sections identified on wireline logs throughout 5 different prospective zones of Bom Gosto - Arpoador formation.

The well encountered 72 net meters (236 feet) of hydrocarbon pay (gas), verified by wireline logs, petrophysical work, and supported by mud logging anomalies. An additional 45 meters (147 feet) of hydrocarbon (oil) shows were identified, in the shallower Barro Duro - Tutoia formation and in the Bom Gosto - Arpoador formation. Additional testing program planned, with results to be announced separately.

The SJ-12 well was drilled to a total depth of 3,180 meters measured depth, intersecting the Barro Duro - Tutoia and Bom Gosto - Arpoador formations. Based on integrated petrophysical interpretation and formation testing data, the Company has identified 5 net pay zones in the Bom Gosto Arpoador reflecting a stacked gas reservoir system indicating 125m of net reservoir with 72m of net hydrocarbon pay across a gross interval of 280m. A comprehensive open-hole wireline evaluation program was completed, including resistivity, density, neutron and sonic logs, as well as RDT formation testing and Mechanical Sidewall Coring Tool ("MSCT") sidewall cores.

21 formation pre-tests confirmed pressure continuity and favorable mobility. Gas samples recovered at measured depths of 2,682.4 m and 2,975.3 m. Gas samples exhibit low density under downhole conditions, consistent with gas-phase hydrocarbons. SJ-12 was drilled using a rack-and-pinion hydraulic drilling unit with a 551,000-pound hook load.

The well was completed safely and on program. Following logging operations, 4½-inch production casing was run and cemented, and the drilling rig was released. The identification of stacked reservoirs and pressure-connected intervals reinforces the technical basis of the São João gas development concept previously disclosed by Petro Victory in connection with its strategic partnership with Eneva.

A well testing campaign is planned to further evaluate the SJ-12 well, with results to be announced separately.