Vast Exploration Inc.

Vast Exploration Inc.

May 30, 2006 09:15 ET

Vast Drilling Program Underway

CALGARY, ALBERTA--(CCNMatthews - May 30, 2006) -

1st well cased, drilling of 2nd well started

Vast Exploration Inc. (TSX VENTURE:VST) ("Vast" or "the Company") has started its twelve well drilling program on the Paddle Prairie Metis Settlement in Boyer, Alberta. The first well, 13-26-102-23W5, was successfully drilled and cased to a total depth of 355 meters. The rig has been moved to the second location at 13-6-103-22W5 and is drilling ahead to a similar total depth. The remainder of the wells will follow in succession. The completion program will begin immediately after the first three wells of the program are drilled and cased. Pipelining will follow once all of the wells are completed by mid-June. First gas sales are still anticipated by mid-August.

Vast Exploration Inc. is an Alberta-based exploration and production company focused on the above joint venture with the Paddle Prairie Metis in Boyer, Alberta; an exploration land play in Barrhead, Alberta; and a Coal Bed Methane (CBM) farm-out in the Black Warrior Basin in Alabama. Vast produces 25 boe/d and has 30,000 acres of undeveloped land in Western Canada. The Company trades on the TSX Venture exchange under the symbol "VST". Further information on Vast can be found at

Forward-looking Information

Certain information regarding Vast in this news release including management's assessment of future plans and operations, wells to be drilled, timing of drilling, testing and tie in of wells, and anticipated production rates may constitute forward-looking statements under applicable securities laws and necessarily involve risks including, without limitation, risks associated with oil and gas development, production, competition from other producers, inability to retain drilling rigs and other services, and delays resulting from or inability to obtain required regulatory approvals. As a consequence, Vast's actual results, performance or achievements could differ materially from those expressed in, or be given that any events anticipated by the forward looking statements will transpire or occur, or, if any implied by, these forward looking statements and, accordingly no assurance can of them do so, what benefits Vast will derive therefrom. Readers are cautioned not to place undue reliance on this forward-looking information and that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could effect Vast's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (

BOE Disclosure

BOE's may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf:bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward-looking statements".

The TSX Venture Exchange does not accept responsibility for the adequacy of this release.

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