12:31 PM EST, 12/17/2024 (MT Newswires) -- Petro-Victory Energy ( PTVRF ) on Tuesday signed an exclusivity agreement with Brava Energia for the potential acquisition of 13 oil-producing fields in Rio Grande do Norte, in Brazil's Potiguar Basin.

The company said the deal grants exclusivity to negotiate the acquisition of the Porto Carao Cluster and Barrinha Cluster for an initial period of 30 days, starting from Dec. 17, which may be extended for a similar period, provided there is mutual and formal agreement between the parties.

Shares of the company last traded on Monday, closing at $0.82 on the TSX Venture Exchange.