Victory Energy Corporation is an oil and gas exploration and production (E&P) company focused on the acquisition and development of assets in the Permian Basin. At September 30, 2014, the Company held a working interest in 31 net wells located in the States of Texas and New Mexico. As of September 30, 2014, the Company participated in the completion of four (gross) and 0.4 (net) wells. The Company�s portfolio of producing assets includes; the Lightnin property, the Bootleg Canyon Ellenberger Field, the Adams-Baggett Gas Field, the Chapman Ranch, the Morgan property, and the Clear Water Wolfberry resource play. At December 31, 2013, the Company�s proved developed reserves were 18% oil and 82% gas and liquids, respectively.