Victory Energy Corp. (VYEY) Makes Major Progress, Sets 2012 Goals
Victory Energy is a domestic energy company engaged in the production of oil and natural gas through its onshore wells in west Texas, Oklahoma, and New Mexico. Currently, the company has 17 wells in production with the capacity to expand to an additional 31 wells. VYEY seeks to maximize shareholder value over the long term by increasing accessible oil reserves, producing more oil, lowering its costs, and carefully managing the capital entrusted to it. For 2012, the company looks to invest in acreage with proved reserves in order to minimize its exploration and development costs. To gauge how the company…