SOURCE: Victory Capital Holdings Corporation

October 05, 2005 09:30 ET

Victory to Capitalize on Energy Market

LOS ANGELES, CA -- (MARKET WIRE) -- October 5, 2005 -- Victory Capital Holdings Corporation (OTC BB: VTYC) announced today that under the leadership of CEO Jon Fullenkamp, the Company intends to enter the Oil & Gas Industry. Victory intends to become an Oil & Gas Company with two areas of focus. Initially, Victory intends to acquire existing oil and gas production in order to create immediate cash flow and add assets to the Company's balance sheet. Second, the Company has formulated a plan to participate in drilling projects with proven industry leaders in both the US and Canadian markets.

Mr. Fullenkamp stated, "Over the past 90 days, the Company has completed primary due diligence on several properties, including producing oil and gas wells in central and southern Alberta, Canada. The next step, as a result of this due diligence, will be a Letter of Intent to acquire an interest in this Canadian production. Additionally, the Company has targeted gas fields in the Muddy Ridge area of Wyoming as well as an oil project in the White River Valley in Nevada." Mr. Fullenkamp furthered, "The vision is to build a profitable Company focused on the oil & gas industry, thus providing a significant return for our shareholders. This will be accomplished through my background, experience, and relationships in the oil & gas sector, and by bringing together a superior team, both in terms of staff and business partnerships, where all parties share the same vision."

Chairman and CEO Jon Fullenkamp has over 20 years experience in the oil and gas industry, having managed production fields and drilling projects for various major oil companies and many of the major independent exploration companies in North America. His knowledge of this industry is extensive and varies from hands on work on derricks throughout the US and Canada to managing drilling, completion, and production from the shallowest wells in the Appalachian Mountains to the deepest wells in the Anadarko Basin. Mr. Fullenkamp holds a degree in Geology from the University of South Dakota.

About Victory Capital Holdings Corp: Victory Capital Holdings Corporation (VTYC) is a publicly traded company designed to leverage the assets of existing businesses, with proven technology and to infuse those assets with marketing, management and financial support to become the recognized leader in its space (http://www.vtyc.com).

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.

Contact Information

  • CONTACT:
    Victory Capital Holdings Corporation
    Investor Relations
    (916) 965-6439
    Email Contact