Victory Energy Corp . (OTC: VYEY) appointed Fred Smith as its CFO and controller, the company said June 2, the date the appointment became effective, the company said.

He replaced Luther Poehlmann as controller, Victory added.

"On behalf of the board and senior management team, I would like to welcome Fred to Victory Energy" said Kenny Hill , Victory's CEO.

Hill added, "Fred's extensive public company financial and operational expertise in the upstream oil and gas sector is exactly what we need at this time to assist with our growth through acquisitions and drilling. He has implemented and managed financial reporting for other Permian Basin-focused public companies that are the size we hope to be in coming years. Our ability to attract a seasoned executive of Fred's caliber is further testament to the strong relationships we have in industry and the exciting future ahead for our company."

Smith has more than 36 years’ experience in financial, compliance and operational reporting, the company said.

Most recently, he was corporate controller for Pioneer Natural Resources Co . (NYSE: PXD) from 2008 to 2012, Victory said. He also worked for Magnum Hunter Resources Corp . (NYSE: MHR), as its senior vice president and chief accounting officer, the company added.

Smith holds a bachelor’s of science degree in accounting from the University of New Orleans and is a certified public accountant, Victory said.

Austin, Texas-based Victory Energy Corp. acquires and develops Permian Basin assets.