On October 21, 2013, the board of directors of Victory Energy Corporation elected Mr. Patrick Barry to fill a vacancy on the Board. Mr. Barry will serve on the Board together with the company's existing directors, Dr. Ronald Zamber, Mr. David McCall, Mr. Robert Grenley and Mr. Kenny Hill. Mr. Barry was also elected to serve as Chairman of the Audit Committee of the Board.

During the meeting, the board also elected Dr. Ronald Zamber to the position of interim Chairman of the Board until such time as a full-time Chairman can be selected. The Board has formed a chairman search committee and has begun looking for a qualified executive with significant oil and gas business experience. Prior to joining the Board, Mr. Barry served as a financial and operations consultant for the company.

He is an experienced general manager with strengths in financial management, profitability improvement, strategy development, and implementing disciplined operating processes in both public and private companies. Barry is a former Managing Director of the Gigot Center for Entrepreneurial Studies at the University of Notre Dame where he was also an Adjunct Professor. Prior to Notre Dame, he spent eight years turning around Quality Dining Inc. Mr. Barry was a consultant with Andersen Consulting in their Strategic Service Group, focusing in strategy development and general management consulting.