SOURCE: Victory Energy Corporation

January 20, 2011 16:51 ET

Victory Energy Appoints David B. McCall to Its Board of Directors

NEWPORT BEACH, CA--(Marketwire - January 20, 2011) - Victory Energy Corporation (PINKSHEETS: VYEY) today announced that it has appointed David B. McCall to its Board of Directors. Mr. McCall has over 35 years of experience in the oil and gas industry, and is currently a partner in The McCall Firm in Austin, Texas.

Mr. McCall's law practice has centered on the upstream, midstream and downstream activities of major and independent oil companies. His expertise encompasses all aspects of oil and gas operations. He has been instrumental in negotiating operating leases and agreements; production purchase and sale agreements; pipeline and exploration agreements. He has been lead counsel on complex oil and gas litigation matters including disputes between interest holders in producing properties; contract and lease disputes; title controversies and other traditional oil and gas matters.

He has represented clients in federal royalty valuation disputes and Minerals Management Service (MMS) administrative proceedings. He is also experienced in the preparation of drilling title opinions, loan opinions, division order title opinions, and acquisition opinions. He is board-certified in oil, gas and mineral law.

Mr. McCall is an author and has served as an expert witness in title matters involving oil and gas properties.

In 1971, Mr. McCall received a Bachelor of Arts in marketing from McMurry University, Abilene, Texas. He graduated from Texas Tech School of Law, Lubbock, Texas in 1974. He is a Member of the Bar, State of Texas; a Life Fellow, Texas Bar Foundation; and a Founding Fellow, Austin Bar Foundation.

Robert Miranda, Victory Energy's chairman and interim CEO, stated, "We are pleased to welcome David to our Board of Directors. He brings a wealth of experience and knowledge in all phases of upstream, midstream, and downstream oil and gas operations and transactions, and the drafting and negotiation of related contracts. His proven record of legal skills and expertise in oil and gas business and his ability to develop and implement legal strategies for large complex transactions will be a tremendous asset to Victory Energy."

About Victory Energy Corporation

Victory Energy Corporation is engaged in the exploration, acquisition, development, and exploitation of oil and gas properties. The company's current producing assets are located in the state of Texas.

Victory Energy seeks to identify proven development prospects, conduct thorough geological and engineering evaluations and then target suitable farm-in partners for long term development of additional prospects.

For more information, please visit our website

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

There are forward-looking statements contained in this news release. They use such words as "intend," "will," "may," "expect," "believe," "plan," or other similar terminology. These statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results to be materially different than those expressed or implied in such statements. These factors include, but are not limited to: risks associated with the implementation of the Company's strategic growth plan; legislation and government regulation including the ability to obtain satisfactory regulatory approvals; conditions beyond the Company's control such as weather, natural disasters, disease outbreaks, epidemics or pandemics impacting the Company's customer base or acts of war or terrorism; availability and cost of materials and labor; demand for natural gas; cost and availability of capital; competition; the Company's overall marketing, operational and financial performance; economic and political conditions; the continued service of the Company's executive officer; adverse developments in and increased or unforeseen legal costs related to the Company's litigation; the success of the Company's strategic partnerships and joint venture relationships; the Company's ability to pay certain debts; adoption of new, or changes in, accounting policies and practices; adverse court rulings; results of other litigation in which the company is involved; and other factors discussed from time to time in the Company's news releases, public statements and/or filings with the Securities and Exchange Commission. Forward-looking information is provided by Victory Energy Corporation pursuant to the safe harbor established under the Private Securities Litigation Reform Act of 1995 and should be evaluated in the context of these factors. In addition, the Company disclaims any intent or obligation to update these forward-looking statements.

Contact Information

    Robert J. Miranda
    Chairman and Interim Chief Executive Officer
    Chief Financial Officer

    Investor Relations