Exhibit 99.1

Victory Energy Announces Second Quarter 2017 Financial Results

AUSTIN, TX--(August 11, 2017) - Victory Energy Corporation (OTCQB: VYEY) ("Victory Energy" or "the Company"), a growth stage, oil and gas exploration and production Company, today announced operating results for the three months ended June 30, 2017.

Second Quarter Highlights
During the six months ended June 30, 2017, the Company received $1,305,000 of investment capital. Investment capital was utilized for the review of prospect acquisition targets in the upstream, midstream and oil services sectors, for ongoing operations and debt service reduction. In addition, this capital has aided in the resolution of effectively all outstanding company litigation matters.
During the three months ended June 30, 2017, general and administrative expenses decreased by 18% compared to the second quarter of 2016.
At June 30, 2017, the Company held a working interest in 30 gross wells located in the states of Texas and New Mexico.

Second Quarter in Review

Oil and natural gas revenues decreased $8,505 or 11% to $70,680 for the three months ended June 30, 2017 from $79,185 for the three months ended June 30, 2016. The decrease is primarily the result of lower oil volumes and prices, which was partially offset by increases in natural gas volumes and prices.

General and administrative expenses decreased $110,169 or 18% to $513,826 for the three months ended June 30, 2017 from $623,995 for the three months ended June 30, 2016. The decrease is due to lower salaries expense due to lower headcount.

Depletion, depreciation, amortization, and accretion increased $8,992 or 32% to $37,259 for the three months ended June 30, 2017 from $28,267 for the three months ended June 30, 2016. The increase is primarily due to adjustments made to furniture and equipment during the second quarter of 2017.

Interest expense increased $65,509 or 198% for the three months ended June 30, 2017 from $33,124 for the three months ended June 30, 2016. The increase is primarily due to the a note payable – affiliate issued in the first quarter of 2017.
Net loss attributable to Victory Energy was $585,290, or $0.02 per share, for the three months ended June 30, 2017 compared to a net loss of $543,474, or $0.02 per share, for the prior year.


The following information was filed by Victory Oilfield Tech, Inc. (VYEY) on Friday, August 11, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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