Vast Exploration Inc. Appoints New Chief Executive Officer

CALGARY, ALBERTA--(Marketwire - Dec. 3, 2012) - Vast Exploration Inc. (TSX VENTURE:VST) reports that Mr. Ahmed Said has been appointed chief executive officer of the company. Mr. Said will succeed Mr. Sig Slotboom who has resigned to focus on other commitments and opportunities.

Mr. Said is a Professional Engineer and has structured and financed over $220 million in equity and debt transactions over the past three years. His recent focus has included merger and acquisition transactions and overseeing capital markets operations. Additionally, he has been involved in various host government negotiations and asset acquisitions in Brazil, Colombia, Iraq, Yemen, Syria, Chad, Jamaica, Guyana, Turkey and Nigeria. Mr. Said sits on the boards of several public and private companies.

Vast also announces the departure of Mr. Joao Saraiva e Silva from its board of directors. Mr. Saraiva e Silva has tendered his resignation from the company as he intends to focus on other endeavors.

The management and board of Vast would like to thank Mr. Slotboom and Mr. Saraiva e Silva for their service to the company and wish them well in the future.

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 impact of the appointment and resignation of officers and directors of the company. 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.