SOURCE: Victory Energy Corporation

February 27, 2008 09:00 ET

Victory Energy New Gas Well Online

CARSON CITY, NV--(Marketwire - February 27, 2008) - Victory Energy Corporation (OTCBB: VYEY) announced today the first gas well the Corporation drilled in the Adams-Baggett Canyon Sandstone gas field in Crockett County, Texas has been brought online today.

Victory's newest gas well is producing from the Canyon Sandstone gas zone. On Sunday the gas well began flowing gas to surface on its own. The well stabilized after 24 hours of sustained flow and was tied into the gas production transportation line. Sales of the gas into the market started immediately. The single point flow test has been scheduled with Fesco and actual production rates should be known by March 4.

"We are anticipating a strong production rate from this well based on its 25% higher tubing pressure than the average Canyon Sandstone gas well," 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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