Victory Energy Corporation provided an update to the previously announced purchase of a 10% non-operated Working Interest ownership of "The Fairway Prospect" from a wholly-owned subsidiary of Target Energy Limited for A$6.5 million (US$6.0 million) by Aurora Energy Partners, a consolidated subsidiary of Victory in which Victory is the controlling member.

The Company expects that the acquisition will close on June 30, 2014. The original estimated closing date for the transaction was June 5, 2014 and was postponed due to open items required for the purchase and sale agreement. The company anticipates no other delays.

Tags: Victory Energy Corporation