has announced the signature of an exclusivity agreement with Brava Energia S.A for the potential acquisition of 13 oil-producing fields in Rio Grande do Norte Petro-Victory together with Azevedo e Travassos Petróleo S.A jointly signed an exclusivity agreement with Brava for the potential acquisition of two producing assets – Porto Carão Cluster and Barrinha Cluster The Porto Carão Cluster is located in the Potiguar onshore basin The Barrinha Cluster is also located in the Potiguar onshore basin The agreement grants Petro-Victory exclusivity for the negotiation of the acquisition of these assets for an initial period of 30 days which may be extended for a similar period provided there is mutual and formal agreement between the parties will be communicated to the market in due course as negotiations progress The Porto Carao Cluster near Guamare and the Barrinha Cluster near Mossoro together comprise 11 concession contracts in partnership with Azevedo e Travassos Petroleo (ATP) has signed an agreement with Brava Energia concerning the potential acquisition of 13 oil-producing fields in Brazil’s Potiguar Basin covers the Porto Carao Cluster and the Barrinha Cluster situated in the Potiguar onshore basin in Rio Grande do Norte near Guamare consists of four concession contracts encompassing four oil-producing fields located in the Potiguar onshore basin in Rio Grande do Norte near Mossoro includes seven concession contracts spanning nine oil-producing fields The agreement grants the company exclusive negotiation rights for the acquisition of these assets for an initial 30-day period from the signing date extendable by an additional 30 days with mutual formal agreement Details of the financial aspects and terms of the potential acquisition will be disclosed as negotiations evolve Don’t let policy changes catch you off guard Stay proactive with real-time data and expert analysis Petro-Victory and ATP are actively engaged in the development and production of oil and natural gas resources in Brazil The company owns 100% operating and working interests in 38 licences covering 257,604 acres (104,248 hectares) across two producing basins in Brazil In June 2024, Petro-Victory partnered with ATP to develop oil assets in Brazil’s Potiguar Basin The agreement focuses on Petro-Victory’s 100%-owned Andorinha Field and POT-T-281 block including plans for a workover of the CR-2 well in the POT-T-281 block Following the conclusion of the CR-2 workover and the Andorinha drilling initiative ATP will then have the opportunity to acquire a 50% stake in the Andorinha field and Block 281 at a cost of $10 for each proven barrel and $4 for each probable barrel Petro-Victory also recently signed a memorandum of understanding with Eneva to collaborate on the development of the company’s non-associated gas assets in the São João field situated in the Barreirinhas basin of Maranhão state in Brazil Give your business an edge with our leading industry insights View all newsletters from across the GlobalData Media network Saquarema has drawn its fair share of Rio commuters through the decades And now that the WSL makes an annual trip to Rio Barrinha and Itaúna — Saquarema’s two trademark waves — have a lot more world recognition The swell that just came to Rio last week is a perfect example of why the place churns out some of Brazil’s hardest chargers Barrinha famously turned on for the final stretch of the 2019 Oi Rio Pro shooting down the idea that the event would always be a sloppy beachbreak sore on the Dream Tour’s schedule Last week’s session at the right hander went down in even better conditions “Barrinha was literally FIRING,” filmmaker Matheus Cuoto told The Inertia after making the drive to Saquarema. “Pro surfers like Joao Chumbinho, Vitor Ferreira, locals like Raoni Monteiro, and others were getting perfect barrels.” The WSL had some terrible luck with contest windows in 2022, often missing season-best swells at places like G-Land by a matter of days. Maybe all that bad luck was used up in 2022 and we’ll get a day like this when the CT is in town next June? Petro-Victory Energy Corp. has signed an exclusivity agreement with Brava Energia S.A. for the potential acquisition of 13 oil-producing fields in Rio Grande do Norte, located in the Potiguar Basin of Brazil. The fields are located in two producing assets: the Porto Carão Cluster and the Barrinha Cluster, according to a news release from the company. The Porto Carão Cluster is located in the Potiguar onshore basin, in the state of Rio Grande do Norte, near the municipality of Guamaré. It comprises four concession contracts that cover four oil-producing fields. The Barrinha Cluster is also located in the Potiguar onshore basin, in Rio Grande do Norte, near the municipality of Mossoró. It comprises seven concession contracts that cover nine oil-producing fields. The agreement grants Petro-Victory exclusivity for the negotiation of the acquisition of the assets for an initial period of 30 days, starting from the date of its signing on December 17, which may be extended for a similar period, provided there is a mutual and formal agreement between the parties. Meanwhile, Petro-Victory entered into a memorandum of understanding (MOU) with Eneva for the development of Petro-Victory’s non-associated gas resources located in the São João field, at the Barreirinhas basin, in the state of Maranhão. The São João Field non-associated gas reservoirs were discovered and tested by a previous operator. The assets were reported as having 50.1 billion cubic feet (1.4 billion cubic meters) of non-associated gas. The field is 100 percent owned and operated by Petro-Victory. Brazilian integrated energy operator and liquefied natural gas (LNG) producer Eneva will perform and pay all costs related to the drilling, logging, completion and testing of one non-associated gas well, targeting the Bom Gosto/Arpoador formations, at an approximate depth of 3 kilometers. Upon completion of the well commitment, Eneva will have an option to perform and pay all costs related to a 3D seismic data acquisition, processing, and interpretation program covering the entire São João Field, according to the MOU. Upon completion of the seismic commitment, Eneva will have the option to establish a joint venture company (JV) with Petro-Victory to develop the non-associated gas and agree on a unified gas monetization solution. Eneva will retain a 72 percent participation interest in the JV, while Petro-Victory will retain 28 percent interest in the JV. The JV structure will ensure that Petro-Victory retains 100 percent of the revenues from oil production, it stated. All activities to be carried out in the São João Field, under the MOU, and the establishment of the JV will be subject to the approval of the National Petroleum Agency, when applicable, Petro-Victory noted. Petro Victory is engaged in the acquisition, development, and production of crude oil and natural gas resources in Brazil. The company holds 100 percent operating and working interests in 38 licenses totaling 257,604 acres in two different producing basins in Brazil. To contact the author, email rocky.teodoro@rigzone.com FinanceBrazil player sells onshore fields to focus on ‘higher priority assets’Brava Energia divests 13 onshore concessions in the Potiguar basin for $15 million Recent security breaches at major companies and cyber-attacks such as the WannaCry ransomware attack have put cybersecurity firmly on the EU’s political agenda. But how coherent an actor is the EU in the field of cybersecurity? Drawing on a recent study, Andre Barrinha and Helena Farrand-Carrapico write that there remains a lack of cohesion in EU cybersecurity policy with the main responsibilities in cybersecurity governance remaining with the member states It remains to be seen whether recent events will encourage EU states to cooperate more closely on the issue or whether stronger responses will be pursued by individual states at the national level Cybersecurity is one of the European Union’s top policy priorities. The EU 2016 Global Strategy – adopted by the European Council five days after the Brexit referendum – and, more recently, Jean-Claude Juncker’s 2017 State of the Union address clearly highlight the centrality that Europe’s information networks and its critical infrastructures assume for the future of the Union In recent years, the panoply of objects and processes that have incorporated advanced computerised elements has grown rapidly to include not only laptops, tablets and smartphones, but also watches, cars, fridges, toys, classrooms and musical instruments – the so-called ‘internet of things’. By 2021, the number of objects connected to the Internet is projected to be over 20 billion the more vulnerable to cyber-attacks we become suggests the transformation of the European Network and Information Security Agency (ENISA) into the new permanent EU Cybersecurity Agency with added competences in terms of training and certification alongside the increasing use of cyber-tools by nation-states to disrupt or attempt to disrupt elections and other electoral processes These incidents have contributed to the approval of the above-mentioned EU-led initiatives Addressing cybersecurity issues demands the institutional flexibility that to a large extent goes against the EU’s bureaucratically heavy and institutionally sedimented default modus operandi Dealing with cyberspace means that multiple agencies institutions and even countries may be called to intervene to address a single incident the divide between internal and external security or between the public and private sector are not always clear in cyberspace As we argue in a recent study the EU equates policy success with increased levels of coherence: coherence across EU institutions (horizontal) and between them and member states (vertical) That can be seen from an institutional perspective – institutional coordination – but also from a deeper shared understanding of what cybersecurity is and how it should be approached This need for coherence is recognised by the EU in multiple instances from European Commission communications to the EU Global Strategy the fact that the EU’s 2013 strategy was drafted as a combined effort between DG Home Affairs and the European External Action Service (with an active contribution from DG JUST) is quite revealing of this need for a coherent cross-sector approach in practice its implementation has been broadly divided along three main lines – cybercrime critical information infrastructure protection and cyberdefence – each with its own budgets The major paradox in the EU’s cybersecurity architecture and the main cause for its lack of cohesion results from the mismatch between needs and responses in the relationship between Brussels and its member states Although the EU recognises the transnational character of cyber-related threats it also acknowledges that the main responsibilities in cybersecurity governance should remain with member states giving itself more of a light-touch coordination role The measures adopted since then do not really address that balance At the centre of this mismatch are issues of trust (both vertical and horizontal) and divergent policy priorities between member states (in 2017 there are still member states without a cybersecurity strategy) States are often afraid of sharing information that could compromise the economic interests of their companies or given the significant secrecy that still surrounds cybersecurity operations of sharing too much operational information It is also the case that certain countries have neither the know-how nor the interest in the field whereas larger member states do not want to be controlled by Brussels when it comes to setting their own cybersecurity priorities The EU cybersecurity architecture is – as in many other areas – complex and multi-layered It is also a still largely incipient area in which actors and institutions are still shaping their practices and priorities The Cybersecurity Package that was presented last September is a sign of some maturation by the European Union in this field If the notion of cybersecurity as a progressively important policy area has been maintained since 2013 it is now more visible than it was four years ago due to the damaging consequences that cyber-attacks can have on our way of life be it ransomware attacks on hospitals or the attempt to use information networks to influence electoral processes Whether this will lead to additional coherence in terms of the way the EU approaches cybersecurity Please read our comments policy before commenting Note: This article draws on the authors’ recent paper in the Journal of Common Market Studies The article gives the views of the authors not the position of EUROPP – European Politics and Policy or the London School of Economics You don't have permission to access the page you requested What is this page?The website you are visiting is protected.For security reasons this page cannot be displayed Be one of the first to try our new activity feed One climber finds uncommon adventure in a city whose soul is found at the beach I dip my hand into my chalkbag and feel a thick paste I’m not sure if it’s from the humidity in the air and the sky is just getting dark enough to warrant headlamps I hand Forest the gear so he can lead and photograph the next pitch We checked the forecast and there was zero chance of rain we padded through the jungle with marmosets perching on nearby branches and a giant lizard ambling across the trail in front of us Our approach halted abruptly at the base of Pão de Açúcar a popular tourist attraction where summit seekers can ride a cable car to the top of the iconic monolith We swapped our flip-flops for sticky rubber and began our climb out of the confines of the canopy The sky was a deep red behind me and the view dramatically postcard-perfect Now I look behind us in the direction of the looming Christ the Redeemer statue pulsing black clouds impede our view and a lightning bolt splits the horizon feverishly growing nimbus clouds trump Google’s meteorology report every time We fix the anchor to rappel and within five minutes of the first raindrop Thunder cracks and flashes of light illuminate a sky filled with dark we wade through knee-deep water in the parking lot below We find shelter in a café and then negotiate with taxi drivers requesting four times the normal fare to return us to our neighborhood I find myself thinking back to a Facebook message I received that morning from a local climber: “Where have you got this idea of climbing Italianos at night and I know my climbing teachers and mentors wouldn’t too The way out from Pão de Açúcar after 19:00 is tricky Just locals know the path out by the beach And thus we spent most of our time in this tropical city soaking wet Rio is not a city you see; it is a city you feel it’s certainly made of sand and nestled on the edge of the Atlantic Ocean the sand is teeming with Brazilians hiding under umbrellas and strolling two by two along the shoreline peddling cold beer and Brazil’s national cocktail and carrying racks of string bikinis and sunglasses The beach is Rio’s unofficial center for commerce The rock in Rio doesn’t discriminate either; it rises out of favelas (urban slums that creep up the city’s many hillsides) Rio’s roughly 470 square miles of dramatic topography—where ocean meets jungle meets granite monoliths all with sandy strips of beach in between—is an absolute climber’s paradise The city is home to the world’s largest urban forest much of which is protected as a national park as well as hidden overhanging crags and clean boulders Almost all of the rock in Rio is solid granite I had shared a campsite with a Brazilian who raved about the climbing in Rio You can climb up to Christ the Redeemer himself!” Though the setting sounded absurd and I dreamed all year of an urban climbing trip to Rio I’m an alpinist at heart and thrive off a good dose of route finding And yet my Brazilian friend’s portrayal had caught my attention so when a winter climbing trip to Colombia brought me down to South America I jumped at the chance to extend my journey farther south Nereida Rezende shows up to take us climbing in a matching sports bra and capris the same color yellow as her home country’s flag with an identical fire engine red set in her bag I met Nereida through Rio’s Facebook climbing group After one glimpse at the complex geography of the city and the complete lack of online trip reports and Rio’s tight-knit population of climbers delivered Nereida has driven all the way across the city keen to give two young Americans a royal tour of Rio by way of its rock We slither through stop-and-go traffic toward Floresta de Tijuca passing construction workers blasting a tunnel in hurried preparation for the upcoming Olympics We’re surrounded by the rumble of careening city buses But there are many places that are paradise inside Babylon,” Nereida says Nereida was invited by a friend to take a beginner mountaineering course she’s hooked and has reoriented her life around climbing currently training to be a guide with hopes of starting her own international guiding company When I ask her about where to find some good samba in town she explains that she does not go out at night because she wants to be in fine shape to climb the next morning Nereida takes us to the local hardman crag Barrinha driving through a hilly neighborhood that grows more and more green as we ascend We park at a Tijuca National Park guard station quickly leaving the main trail for a climber’s path that spirals up through the jungle’s via hanging vines and thick underbrush and we’re accompanied now by birds and the thick white noise of humidity We arrive at the shaded and clean granite wall and Nereida shows us the warm-up: a 5.12c that goes at 11c if you stop two bolts from the end We are sure something has been lost in translation but Nereida leads the way and gracefully hangs the draws We follow suit despite sweat pouring from our bodies and mosquitos chasing us up the rock Any notion of proper temps and sending conditions is thrown out the window making powerful moves on the steep and sustained face pulling on crimps and jugs with sweaty fingers that somehow stick It takes us two hours to return home through the traffic making a 1 to 1 ratio of hours driven to pitches climbed a city where “hurry” isn’t in the vocabulary—an annoyance when standing in a cramped grocery store line for 30 minutes as the clerk pauses to look at her nails between scanning each item but a luxury when it’s 90°F with 80% humidity Driving through sheets of pelting rain on our way back a Portuguese word that references effort and commitment basically meaning “you gotta want it.” As we say farewell and make a mad dash to our apartment through the rain Climbing in Rio will take all the empenho we can muster we’re standing at the base of the Sugarloaf cable car and we’re meeting a group of local teenagers and their mentors for a morning of climbing The kids are coming from a favela across town meeting time on the text message was a typo and a pair of men with ropes hanging off their packs pull up on a motorcycle I see some familiar faces among the group of five: Andrew who we had met at Barrinha a few days before a teenager I bouldered next to at the local climbing gym a kind-eyed old hand who Nereida described “like my climbing brother.” We leave the parking lot behind the boys skillfully leading the way with their mentors in tow Spirited banter rises early from the subdued Familiar with the approach to their 11a project they lead us to a slab overlooking Rio’s harbor where we drop packs and drape soaked shirts on the nearby branches to dry a small outreach to under-privileged youth This nonprofit gives kids a solid community and an engaging activity to keep them away from the violence that has infiltrated slum life in Rio The leaders also provide powerful mentorship sweat glistening on his dark skin and focus in his eyes Andrew and Babu shout words of encouragement to breathe I would need the same reminder for climbing slab in the direct sunlight Andrew leans over and jokes to me that climbers in Rio are fond of practicing two sports at once—swimming and climbing CALGARY, AB, Dec. 17, 2024 /CNW/ - Petro-Victory Energy Corp. ("Petro-Victory" or the "Company") (TSXV: VRY) is pleased to announce the signature of an exclusivity agreement with Brava Energia S.A ("Brava") for the potential acquisition of 13 oil-producing fields in Rio Grande do Norte the Company has jointly signed an exclusivity agreement with Brava for the potential acquisition of two producing assets – Porto Carão Cluster and Barrinha Cluster The agreement grants the Company exclusivity for the negotiation of the acquisition of these assets for an initial period of 30 days will be communicated to the market in due course as negotiations progress.  and production of crude oil and natural gas resources in Brazil The company holds 100% operating and working interests in thirty-eight (38) licenses totaling 257,604 acres in two (2) different producing basins in Brazil Petro-Victory generates accretive shareholder value through disciplined investments in high impact The Company's Common Shares trade on the TSXV under the ticker symbol VRY Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction The securities have not been and will not be registered under the United States Securities Act of 1933 or any state securities laws and may not be offered or sold within the United States unless an exemption from such registration is available Advisory Regarding Forward-Looking Statements In the interest of providing Petro-Victory's shareholders and potential investors with information regarding Petro-Victory's future plans and operations certain statements in this press release are "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation (collectively forward-looking statements can be identified by terminology such as "anticipate" "will" or similar words suggesting future outcomes The forward-looking statements contained in this press release speak only as of the date thereof and are expressly qualified by this cautionary statement There is no assurance the transaction will progress to the definitive agreement stage or will be completed at all.  The Company cautions readers that it has not entered into any agreements or understandings to effect a possible transaction with Brava and there can be no assurance that any discussions that have taken place will result in any such agreements or understandings The Company is continuing its evaluation of other opportunities available to the Company the Company does not intend on commenting further unless otherwise required pursuant to applicable securities laws and regulations this press release contains forward-looking statements relating to but not limited to: our business strategies These forward-looking statements are based on certain key assumptions regarding among other things: regulatory and other required approvals; entering into a definitive agreement with Brava and the financing of same the approval by the TSXV; ‎the availability and cost of labor and other industry services; the continuance of existing and proposed tax and royalty regimes; and current industry conditions laws and regulations  continuing in effect (or such changes being adopted as anticipated) Readers are cautioned that such assumptions although considered reasonable by Petro-Victory at the time of preparation Actual results achieved will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors The above summary of assumptions and risks related to forward-looking statements in this press release has been provided in order to provide shareholders and potential investors with a more complete perspective on Petro-Victory's current and future operations and such information may not be appropriate for other purposes There is no representation by Petro-Victory that actual results achieved will be the same in whole or in part as those referenced in the forward-looking statements and Petro-Victory does not undertake any obligation to update publicly or to revise any of the included forward-looking statements except as may be required by applicable securities law For further information: Petro-Victory Energy Corp. Do not sell or share my personal information: Two-year project to contribute to efficacy and impact of UK international cyber statecraft over the next decade It will develop a clearer understanding of the role of cyber statecraft in the competitive reshaping of international order specifically in the context of the UK seeking global leadership in cyber security and governance It will provide a refreshed understanding of the central concept of ‘cyber power’ and novel methodological approaches to the comparative evaluation of national cyber power "Despite the centrality of cyberspace in contemporary life we often lack the conceptual tools to fully grasp its social, political and economic importance. By unpacking the idea of ‘cyber statecraft’ in this project – in both theory and practice – we will be contributing to update the analytical toolbox that helps us understand the international relations of the digital age,” said Dr André Barrinha from the University of Bath’s Department of Politics the project is a collaboration between researchers in the Faculty of Humanities & Social Sciences and will be hosted by Bath’s new Institute for Digital Security and Behaviour “The combination of disciplines addressing a key question - in this case, international relations, economics, and information systems - is a great example of how we are going to focus on some of the challenges of security in the digital world through innovative, interdisciplinary work," said Professor Adam Joinson from the School of Management Dr Joanna Syrda from the School of Management require new and improved theoretical models But in order to model - in theory or practice - we need to define and quantify We will work together on developing measures of cyber power that can meaningfully help evaluate effectiveness of cyber statecraft.” For more information on the project contact Dr Barrinha (a.barrinha@bath.ac.uk) This is a collection of photos I’ve taken in 2018 around Rio de Janeiro We received some good-sized swell this season with a few days where the right conditions came together for some of Brazil’s slabs and heavy beach breaks Brazil may not be very famous for this particular kind of wave but we’re always searching for some good moments Give @luizblancofotografia a follow is pushing through with the acquisition of 13 oil fields in Rio Grande do Norte Petro-Victory signed a sale purchase agreement with a 50/50 partnership with Azevedo & Travassos Petroleo (ATP) for the acquisition of Polo Porto Carão and Polo Barrinha from Brava Energia subsidiaries 3R RNCE S.A Alberta-based company signed an exclusivity agreement with Brava Energia S.A The total acquisition value for the assets is $15 million The payment will be made in four tranches plus a gross overriding royalty of which Petro-Victory’s contribution will be pro-rated at 50 percent working interest The transaction is expected to close in the second half of 2025 subject to customary closing conditions and regulatory approvals from the National Agency of Petroleum in Brazil with fully operational production facilities comprising 38,301 acres are “strategically located adjacent to Petro-Victory’s existing assets,” it said The assets have current production of 250 barrels of oil per day with a high-impact work program underway to increase oil production Brazil’s National Agency of Petroleum has reported a volume of oil in place of 125 million barrels “The proximity of the new oil fields to our existing assets enables us to streamline logistics and share services such as maintenance This shared infrastructure significantly reduces overall operational costs,” Petro-Victory said The Porto Carão Cluster is located in the Potiguar onshore basin It comprises four concession contracts that cover four oil-producing fields It comprises seven concession contracts that cover nine oil-producing fields Petro-Victory said it currently has three oil producing fields and 34 exploration blocks in the Potiguar Basin it has reprocessed and merged 12 volumes of 3D seismic data covering more than 579.15 square miles (1,500 square kilometers) in the Potiguar basin including volumes which cover the acquired fields “This acquisition marks a transformative milestone for Petro-Victory significantly enhancing our oil production capacity and increasing our proven reserves We expect the updated reserve report will increase our proven reserves by 50 percent,” Petro-Victory CEO Richard Gonzalez said “It also maximizes the substantial investments made by our Subsurface and Operations teams over the past five years in the Potiguar Basin Through disciplined strategy and technical expertise we have built a strong position and deep understanding of this oil-prolific basin We are pleased to further strengthen our partnership with ATP through this acquisition reinforcing our commitment to unlocking the full potential of the Potiguar Basin,” he added Brava originally purchased the 13 oil fields from Petrobras between the years 2020 and 2022 The fields were discovered in 1976 by Petrobras and have produced 16.5 million barrels of oil to date