SOURCE: Victory Energy Corporation

April 23, 2007 09:00 ET

Victory Energy Announces Annual General Meeting Results

LOS ANGELES, CA -- (MARKET WIRE) -- April 23, 2007 -- Victory Energy Corporation (OTCBB: VYEY) announced today that the Annual General Meeting (AGM) was held in Vancouver BC on April 18, 2007.

Legal council representing Victory Energy Corporation in Canada presiding over the Annual General Meeting. opened the meeting at 8:00 AM. A corium was noted and recorded, with a majority of the common stock present. The majority voting in favor on the election of officers and directors as well as ratification of past corporate actions including, change of the corporate name to Victory Energy Corporation, creation and sale of the preferred class of stock along with their respective conversion and voting rights, and the reverse split of 25/1, an information statement will soon follow to each shareholder.

Election to Board of Directors:
Jon Fullenkamp - Chairman of the Board
Rick May - Director
Perry Mansell - Director
"This meeting represented a strategic milestone for the company, as we have seen a corporation properly cared for will have the opportunity to grow only limited by the horizons it maintains," stated Jon Fullenkamp President, of Victory Energy Corporation.

About Victory Energy Corporation: Victory Energy Corporation ( is a publicly traded, developmental stage petroleum company primarily dedicated to energy-related opportunities. The Company goal is to evaluate profitable options, develop a solid foundation through leadership and sound business acumen, and acquire producing wells as well as other potentially profitable prospects within the Oil & Gas Industry.

Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those discussed in filings made by the Company with the Securities and Exchange Commission. The Company's filings may be accessed at the SEC's EDGAR system at Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements.

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