Vast Exploration Inc.
TSX VENTURE : VST

Vast Exploration Inc.

June 25, 2009 21:41 ET

Vast Exploration Inc.-Operational Update

CALGARY, ALBERTA--(Marketwire - June 25, 2009) -

NOT FOR ISSUE IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES

Vast Exploration Inc. ("Vast" or the "Company") (TSX VENTURE:VST) is pleased to announce that the consortium has completed the acquisition of its 2D seismic program over the surface structure that dominates the Qara Dagh block.

The 355 kilometer program was completed successfully using a combination of vibrator and dynamite sources. Processing has commenced and interpretation will follow once final processed sections are received. Interpretation of the data is expected to resolve the sub-surface structural model and identify potential reservoir sections leading to the selection of a drilling location. The first drilling location is expected to be identified by the end of the third quarter of 2009.

Ahmed Said, President and Chief Executive Officer of the Company stated, "While the exploration program on the Qara Dagh block is at an early stage, we are excited by the results obtained to date on the seismic program on Qara Dagh block and the recent successes in neighboring blocks. We look forward to the next phase of our program, including completing the data interpretation upon completion of the processing phase."

In addition, the Company announces that it has entered into a loan agreement with Longford Energy Inc. ("Longford"), whereby the Company has agreed to lend Longford US$4,600,000 (the "Loan"). Longford intends to use the proceeds of the Loan for general working capital purposes and for the pursuit of, and satisfaction of financial commitments in respect of an interest in a production sharing contract for the exploration, development and production of hydrocarbon resources.

The principal under the Loan will incur interest at a rate of 12% per year and shall be secured against certain of the assets of Longford and shall mature on December 25, 2009. Longford intends to repay the Loan upon completion of its previously announced private placement financing (See Longford Press Release dated June 18, 2009).

Longford and Vast have common officers and directors, being Stan Bharti and Ahmed Said, who are directors of Longford and Vast; and Gary Lobb and Patrick Gleeson, the Chief Financial Officer and Corporate Secretary, respectively of both Longford and Vast. In addition, Ahmed Said is the President and Chief Executive Officer of both Longford and Vast. As such the loan will be considered a non-arm's length transaction for the purposes of the TSX Venture Exchange.

About Vast Exploration Inc.

Vast Exploration Inc. is an independent oil and gas exploration and production company actively pursuing crude oil and natural gas opportunities. Vast currently has production operations in the Province of Alberta, Canada.

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the terms of the loan, the seismic program, the planned use of proceeds, and receipt of all regulatory approvals. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of exploration activities; regulatory risks; risks inherent in foreign operations; and other risks of the oil and gas industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

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