07:54 AM EST, 01/07/2025 (MT Newswires) -- Petro-Victory Energy ( PTVRF ) (VRY,V) on Tuesday signed a strategic partnership with Blue Oak Investments to acquire Exploration and Production (E&P) assets and companies in Brazil and Latin America.

Blue Oak will provide the capital, while Petro-Victory will operate and develop the acquired assets.

The company has also signed a term sheet with Blue Oak to establish a Special Purpose Vehicle to acquire the assets.

"We are proud to join forces with Blue Oak in this transformative partnership. Their strong capital position to finance acquisitions and extensive experience in structuring oil and gas transactions, combined with our operational excellence and deep industry knowledge, positions us to drive meaningful growth and unlock significant value in the E&P sector across Brazil and Latin America," said Richard Gonzalez, CEO of Petro-Victory Energy ( PTVRF ).