Victory Energy Corporation, announced that Target Energy Limited's (Target) convertible noteholders have approved the sale of 10% stake in the Fairway Project to Victory Energy Corp. Approval by Target's noteholders was one of the conditions required to complete Victory Energy's acquisition of the Fairway Project.

Victory announced on May 8, 2014 that Target agreed to sell a 10% non-operated working interest in certain oil and gas properties located in the Permian Basin, known as the "Fairway Project" in West Texas for a total cash consideration of approximately $6.0 million.

Tags: Victory Energy Corporation