Mr. Richard Gonzalez reports

PETRO-VICTORY ENERGY CORP. CORPORATE UPDATE

Petro-Victory Energy Corp.'s board of directors has approved the grant of stock options exercisable for a total of 918,507 common shares to its directors, officers, employees and consultants. All options were granted pursuant to the company's stock option plan, and are subject to the terms of the applicable grant agreements and the requirements of the TSX Venture Exchange.

The options were granted at an exercise price of 95 cents and expire on May 20, 2030. The options shall vest annually over three years from the date of grant. The options are subject to TSX-V acceptance.

The company relied on Section 5.5(b) of Multilateral Instrument 61-101 as the exemption from the formal valuation requirements of MI 61-101 in respect of the grant of options to the directors and officers of the company as the common shares of the company are not listed on a specified market (and the common shares are only listed on the TSX-V). The company relied on Section 5.7(a) of MI 61-101 as the exemption from the minority approval requirements of MI 61-101 in respect of the grant of options to the directors and officers of the company as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the grant of the options to the director of the company exceeded 25 per cent of the company's market capitalization. In this grant, a total of 853,507 options were granted to the directors and officers of the company.

About Petro-Victory Energy Corp.

Petro-Victory is an oil and gas company engaged in the acquisition, development and production of crude oil and natural gas in Brazil. The total portfolio under management includes 49 concession contracts with 276,755 acres, net to Petro-Victory plus an additional six concessions and 19,074 acres owned jointly with BlueOak. Through disciplined investments in high-impact, low-risk assets, Petro-Victory is focused on delivering sustainable shareholder value. The company's common shares trade on the TSX Venture Exchange under the ticker symbol VRY.

We seek Safe Harbor.