Victory Energy Corp. (OTC: VYEY) said July 2 that its subsidiary Aurora Energy Partners completed its acquisition of a 10% stake in the West Texas Permian Basin’s Fairway Project.
Perth, Australia-based Target Energy Ltd. (ASX: TEX.AX, OTC: TEXQY) sold the stake for US$5.8 million, Victory said.
"We are extremely pleased to acquire a 10% interest in such a high quality producing asset," stated Kenny Hill, Victory’s CEO.
"This acquisition adds approximately 64 boe per day to our interest and provides approximately 40 additional drilling locations for future development. Since the ...