SOURCE: Victory Energy

April 28, 2008 08:00 ET

Victory Energy Board of Directors Announces Record Date for Dividend

CARSON CITY, NV--(Marketwire - April 28, 2008) - Victory Energy Corporation (OTCBB: VYEY) announces that the Board of Directors has established the Record date for the extraordinary stock dividend to the Corporation's shareholders.

The Record date has been established by the Board of Directors as Friday, May 2, 2008. All shareholders of Record at the close of the stock market on Friday will receive an extraordinary stock dividend, one (1) common share of stock for every four (4) shares of common stock owned. The Board has also determined the Payment date as July 1, 2008. The dividend common shares will be subject to Rule 144 re-sale rules.

The company will round up to the nearest whole share in the event of any fractional share issuances.

"The feedback from our shareholders is extremely supportive and positive regarding the recent accomplishments and successes of the Corporation. We are pleased to extend this extraordinary stock dividend to those shareholders loyal to the Corporation's long term growth," stated Jon Fullenkamp, President of Victory Energy Corporation.

About Victory Energy Corporation:

Victory Energy Corporation (http://www.victoryenergyoilandgas.com) 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 www.sec.gov. 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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