The producing well is part of a 320-acre lease named the White Unit.
The White #1 well is currently producing nearly 30 barrels of oil and 100 thousand cubic feet of natural gas per day from the Caddo formation.
The company has identified a second well location on this unit, which is being scheduled for drilling.
The White #2 location is up-dip and 3-D seismic supported.
Victory Energy chairman and interim CEO Robert Miranda said that the White #1 well represents the second successfully completed well from the Jones County oil play.
