Victory Energy Corporation reported a further expansion at its Jones County play with the addition of two new wells, Swede Church and Mangrove.

The Company plans to drill and complete the two wells sequentially, with drilling operations scheduled to begin on the first well (Swede Church) prior to the end of February. Drilling through completion is anticipated to take approximately three weeks for each well with a combined net expense to Victory of approximately $56,000. Both prospect wells are supported by 3D seismic and are targeting 20,000-45,000 barrels of recoverable oil per well with natural gas as a secondary target.

The Company holds a 5 percent working interest and a 3.75 percent net revenue interest in each well.

Tags: Victory Energy Corporation