SOURCE: Victory Energy Corporation

November 12, 2008 09:00 ET

Victory Retains CFO

CARSON CITY, NV--(Marketwire - November 12, 2008) - Victory Energy Corporation (OTCBB: VYEY) announced today that Robert Miranda has joined the Corporation as CFO.

"We are pleased to have Robert's experience and knowledge in the areas of audit and internal controls as part of the Corporation's leadership. His initial duties will include the completion of the final stages of Victory's corporate governance structure, as well as other corporate compliance responsibilities during Victory's upcoming growth period," stated Jon Fullenkamp, President, Victory Energy Corporation.

Robert Miranda has more than 35 years of professional experience in the areas of auditing, accounting, mergers and acquisitions, strategy, and internal controls with private and public companies. His prior experience includes five years with KPMG's audit practice, fifteen years as founder/CEO of a regional CPA firm, five years as a national director of Deloitte & Touche, and five years with Jefferson Wells, an international consultancy.

Presently, Mr. Miranda serves as Managing Director of Miranda & Associates, a Southern California-based accounting and management consulting firm. Mr. Miranda's industry experience includes manufacturing, aerospace, defense, healthcare, distribution, financial services, and international trade. He is a graduate of the University of Southern California (USC) and has a certificate from the Owner/President Management program at the Harvard Business School. He is a certified public accountant, currently licensed to practice in California.

Mr. Miranda is slated to join Victory Energy this month, assisting with the quarterly report for the third quarter. Additionally, he will play an integral role in the review, finalization and implementation of Corporate Governance requirements for the Corporation.

About Victory Energy Corporation:

Victory Energy Corporation (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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