SOURCE: Victory Energy Corporation

February 22, 2007 09:00 ET

Victory Energy Corporation Welcomes New Board Member

LOS ANGELES, CA -- (MARKET WIRE) -- February 22, 2007 -- Victory Energy Corporation (OTCBB: VYEY) today announced that Mr. Perry R. Mansell has joined the Board of Directors of the Corporation.

"We are pleased to announce that Mr. Perry R. Mansell has joined Victory Energy Corporation as a member of the board of directors," said Jon Fullenkamp, Victory's Chief Executive Officer. "His knowledge of the petroleum industry as it relates to construction and the establishment of infrastructure is a welcome addition to the Board."

Mr. Mansell's experience includes a professional career at North American Rockwell - Space Division heading up the Testing Team. This involved working with NASA in the areas of reaction control, environmental control and waste management systems for the Apollo Command and Service Modules. In 1970 Mansell Construction was founded focusing on commercial and industrial projects, the company continues to flourish today. Specific projects to the petroleum industry include the construction of fuel depots and refurbishment of refineries and pipelines. Mr. Mansell is well known in his industry and is called upon to present as an expert his opinion in situations where an outside expert is required.

Mr. Mansell's experience in serving in and knowledge of local government is an asset to the Company. His stand on environmentally favorable projects that affect the local economy is positive and visionary. This will serve the Company well as it moves forward on a national level.

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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