Vast Exploration Inc.
TSX VENTURE : VST

Vast Exploration Inc.

June 14, 2010 00:01 ET

Vast Exploration Inc.-Drilling Update on Exploration Well in Kurdistan Region-Iraq

CALGARY, ALBERTA--(Marketwire - June 14, 2010) - Vast Exploration Inc. ("Vast" or the "Company") (TSX VENTURE:VST) is pleased to provide the following progress update on the Qara Dagh - 1 Exploration Well, Qara Dagh Block, in the Kurdistan Region of Iraq.

The Qara Dagh Well was spudded on 12 May 2010 with a planned TD of 3600-4000 meters. Following the setting of 20" surface casing at 686 meters, an 8-1/2" pilot hole is currently being drilled down to the 13-3/8" intermediate casing point. The decision to drill a pilot hole was based on the expected fracture nature of the shallow geological formations, and the ability to better control the drilling in a smaller size hole.

Currently the well is drilling ahead at approximately 1,300 meters through the top boundary of the Cretaceous age formations. The Company believes there could be up to three potential reservoirs in the Cretaceous with the Shiranish formation being the uppermost perspective reservoir. During the past several days, drilling gas shows have been observed, which is an encouraging indication of hydrocarbons being present in the well bore.

The well plan is to drill through the Shiranish formation and upon positive indications an open hole DST test will be planned. Then the plan is to continue drilling to evaluate the prospectivity of the Kometan and Qamchuqa horizons in the Cretaceous. Drilling is expected to take an additional three months to complete and will target up to seven potential reservoirs in the Cretaceous, Jurassic and Triassic formations.

Mr. Ahmed Said, President and CEO, stated, "We are very pleased with the operational progress to date. The drilling program is ahead of our projected estimates, and we are looking forward to entering into the primary zones of interest that are below current depths."

Regulatory Statements

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 estimated resource assessment, the prospective nature of the Block, exploration and development plans and projected expenses, receipt of government approvals, and relationships with other companies who hold an interest in the Qara Dagh block. 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". Resource estimates are based on assumptions and parameters agreed upon, and considered reasonable, by the management of the Company, AJM and the other companies with interests in the Block. Statements regarding timetable of future exploration of the Block are based on the plans set by the companies with interests in the Blocks. 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. For a description of some of such risks, please see the Company's annual information form filed under the profile of the Company on SEDAR. 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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