Petro-Victory Energy Corp. (TSX-V:VRY) announced that drilling operations had started at the AND-5 well in the Andorinha Field, located in the Potiguar Basin in Brazil.
The oil and gas exploration and production company focused on onshore Brazil said the AND-5 well is the first in a series of two fully-funded drilling programs planned for the Andorinha Field.
The well is designed to target the Açu and Alagamar formations and will be drilled to a total planned depth of approximately 1,177 meters.
Petro-Victory holds 100% ownership of the Andorinha Field. The drilling initiative is part of the company’s ongoing strategic partnership with Azevedo & Travassos Energia (ATE), which was first announced in June last year.
Petro-Victory said that it will provide further updates following the completion of the AND-5 well.