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Petro-Victory Energy ( (TSE:VRY) ) has issued an update.
Petro-Victory Energy Corp. announced a non-brokered private placement to raise up to US$2.3 million, which will be used for general working capital and capital expenditures. The company is also in discussions to modify its business combination with Azevedo & Travassos Energia due to unmet conditions. Additionally, Petro-Victory reported a commercial oil discovery at the AND-5 well with a production rate of approximately 42 barrels of oil per day, and extended the maturity of its promissory notes totaling US$4.4 million to July 2026.
More about Petro-Victory Energy
Petro-Victory Energy Corp. operates in the energy sector, focusing on the exploration and production of oil and gas. The company is involved in the development of existing fields and is working on business combinations to enhance its market position.
Average Trading Volume: 8,706
Technical Sentiment Signal: Sell
Current Market Cap: C$12.5M
For a thorough assessment of VRY stock, go to TipRanks’ Stock Analysis page.