VYEY Victory Oilfield Tech Inc (PK)

Victory Energy Corporation (OTCBB: VYEY), a developmental stage petroleum company primarily dedicated to energy-related opportunities, today announced the appointment of Robert Miranda, Chief Financial Officer of Victory Energy, to the Board of Directors. Robert Miranda joined the company as CFO in the fourth quarter of 2008. His role is integral in the areas of finance and administration, as it relates to audit and internal controls of the company, as well as review and implementation of corporate governance requirements for the corporation.

Mr. Miranda's appointment follows the recent appointments of Edgar P. Trotter, Ph.D. and Ronald W. Zamber, M.D. to Victory Energy's Board of Directors. The Corporation's Board now includes three independent directors along with Victory Energy Chairman, President and CEO Jon Fullenkamp and CFO Robert Miranda.

Mr. Fullenkamp stated, "Robert Miranda brings significant finance and administrative leadership from his more than 35 years of professional experience in the areas of auditing, accounting, mergers and acquisitions, strategy, and internal controls with private and public companies. His skills and experience continue to be great assets to the Corporation as we pursue an improved level of internal controls and continue the initiatives established for business growth."

Mr. Miranda's prior experience includes five years with KPMG's audit practice, fifteen years as founder/CEO of a regional CPA firm, five years as a national director of Deloitte & Touche, and five years with Jefferson Wells, an international consultancy. His executive management experience includes founding and managing a regional professional services firm that operated multiple offices in the United States and internationally. While associated with Jefferson Wells, an international consultancy, Mr. Miranda served as Global Operations Director and was responsible for managing a team of 250 professionals that implemented an enterprise wide Sarbanes-Oxley compliance program for a major Chicago based aerospace and defense firm.

Mr. Miranda holds a B.S. degree from the University of Southern California, a certificate from the Owner/President Management executive program at Harvard Business School, and is a licensed certified public accountant.

About Victory Energy Corporation:

Victory Energy Corporation (www.victoryenergyoilandgas.com) is a publicly traded, developmental stage petroleum company primarily dedicated to energy-related opportunities. The Company goal is to evaluate profitable options, develop a solid foundation through leadership and sound business acumen, and acquire producing wells as well as other potentially profitable prospects within the Oil & Gas Industry.

Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those discussed in filings made by the Company with the Securities and Exchange Commission. The Company's filings may be accessed at the SEC's EDGAR system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements.

Contact: Victory Energy Corporate Communications 1-702-989-9735