Petro-Victory Energy and BlueOak Investments Complete Acquisition of Capixaba Energia, Strengthening Brazil Onshore Position

­Petro-Victory Energy Corp., an oil and gas exploration and production company focused on onshore Brazil, today announced the successful closing of its previously announced acquisition of Capixaba Energia LTDA ("Capixaba Energia"), a producing oil and gas asset, generating substantial free cash flow, in the Espírito Santo Basin. The acquisition was completed in partnership with BlueOak Investments ("BlueOak"), Petro-Victory's strategic financial partner. This acquisition, originally announced on March 6, 2025, marks the first successful transaction under the Petro-Victory and BlueOak partnership, reinforcing their shared commitment to unlocking value in Brazil's energy sector.

Richard F. Gonzalez, CEO of Petro-Victory, commented, "The closing of the Capixaba Energia acquisition marks a major milestone for Petro-Victory and a testament to the strength of our strategic partnership with BlueOak Investments. This transaction enhances our operational position in Brazil, delivering immediate positive cash flowing production, critical infrastructure, and significant future upside. With BlueOak's financial backing and our operational expertise, we are well-positioned to unlock value, optimize profitability, production, and drive long-term growth for our shareholders."

Meton Morais, CEO of BlueOak, commented, "Our partnership with Petro-Victory reflects our long-term conviction in the Brazilian energy market and our belief in the value that disciplined, performance-driven investment can unlock. Capixaba Energia represents the kind of asset we seek—profitable, producing, scalable production that is strategically located. We're proud to back this transaction and look forward to accelerating growth through continued collaboration with Petro-Victory."

Successful Acquisition Underscores Strength of Partnership-Driven Growth Model 

The successful closing of the Capixaba Energia acquisition serves as a proof point of Petro-Victory's highly effective partnership strategy. Despite macro uncertainty and commodity price volatility, Petro-Victory has positioned itself to grow by securing low-risk, high-upside assets with premier industry partners. As legacy producers look to scale back, Petro-Victory is charging ahead, leveraging this flexible, performance-based joint venture model to unlock value and capitalize on accelerated M&A opportunities across Brazil's onshore sector.

Capixaba Energia: Establishing Strategic Growth Hub 

The Capixaba acquisition strengthens Petro-Victory's position in Brazil's onshore oil and gas sector by delivering:

• Immediate Cash Flow & Production Growth - Currently producing approximately 400 boe/d (88% oil), with a fully funded workover and drilling campaign aimed at significantly increasing production and profitability.
• Strategic Infrastructure - Four producing oil fields, including the Lagoa Parda Cluster, plus two high-potential exploration blocks near major producing assets.
• Strong Financial & Operational Backing - BlueOak has fully funded the initial payments for the acquisition and committed additional capital expenditures to enhance production and operational efficiency.
• Proven Reserves & Exploration Upside - A new independent reserves report was completed earlier this month and is summarized below.