Victory Energy Initiates Drilling Program in Prolific Gas Field

CARSON CITY, NV, Jan 22 (MARKET WIRE) --
Victory Energy Corporation (OTCBB: VYEY) announced today that the Corporation
has started drilling its first shallow gas well located in the Adams Ranch
section of the Adams-Baggett Canyon Sandstone gas field in Crockett County,
Texas.

The "Canyon Sandstone" gas zone located on this ranch is part of the large
prolific Adams-Baggett Canyon Sandstone gas field. The Canyon Sandstone
formation
is found at a depth of 4,300 feet to 4,900 feet. Initial production for these
wells is approximately 250,000 cubic feet of gas per day per well. The
success rate for commercially producing gas wells in this area is over 97%.

The Company has established a financial facility with institutional
investors providing
drilling funds to the company for the further development of the Adams ranch
properties. This facility provides for direct participation by the investors
in the production of the completed wells.

"Victory plans to drill multiple wells in this field, given the positive
support
financially through institutional investors. This is a major asset for the
Corporation and a strategic step in the growth and long term development of
shareholder value," 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.

For information, please contact:
Corporate Communications
Falcon Financial Partners, LLC
1.866.210.4671
Steve Demeo

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