Vast Exploration Inc.

Vast Exploration Inc.

September 09, 2010 16:01 ET

Vast Exploration Inc.-Provides Drilling Update and Appointment to Advisory Board

CALGARY, ALBERTA--(Marketwire - Sept. 9, 2010) - Vast Exploration Inc. ("Vast" or the "Company") (TSX VENTURE:VST) is pleased to provide a progress update on the drilling of the Qara Dagh -1 Exploration Well and to announce the appointment of General John P. Abizaid to the Advisory Board of the Company.

The Qara Dagh Well was spud on 12 May 2010 with a planned total depth of 3,600 to 4,000 meters. As previously reported, the well has encountered a thick Aliiji section with strong indications of hydrocarbons. Petrophysical analysis on this section confirms a possible 64 meter net pay which is expected to be further tested upon completion of drilling operations.

The well is currently drilling ahead at approximately 2,200 meters after successfully setting the 13 3/8 inch intermediate casing string at 1,650 meters. Currently the well is expected to be completed at the end of October or first half of November 2010.

Mr. Ahmed Said, President & CEO, stated "The drilling program is moving ahead steadily without encountering any major operational issues. The presence of hydrocarbons in the tertiary section could provide a significant resource and is a positive indication for underlying primary targets".

Additionally, the Company is pleased to welcome Retired General John P. Abizaid to the Advisory Board. General Abizaid retired in 2007 with thirty four years of service. He was one of the longest serving commanders of the United States Central Command, with responsibility for an area spanning 27 countries in the Middle East, Southwest Asia, and the Horn of Africa. He studied at West Point, the University of Jordan in Amman, holds a master's degree in Middle Eastern Studies from Harvard University, and as such, is widely considered to be an expert in the field of Middle Eastern affairs. He is a member of the Council on Foreign Relations and the International Institute for Strategic Studies.

"Vast is very pleased to have such a highly regarded individual join our Advisory Board," stated Mr. Said, "His contacts and expertise in the Middle East will be invaluable to the Company as we move forward".

The Company also announces the resignation of Mr. Greg Cameron, Vice President Corporate Development effective August 31, 2010. The company would like to thank Greg for his contribution and wish him well in his future endeavors.

About Vast Exploration Inc.

Vast Exploration Inc. is an independent oil and gas company. Vast is focused on the exploration and development of its principal asset, the Qara Dagh Block, in the Kurdistan region of Iraq. The Qara Dagh Block lies on trend with existing discoveries and is located in the prolific Zagros Fold Belt of Northern Iraq, which contains several large fields including the super-giant Kirkuk field.

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 effect of the appointment and resignation on the Company, 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.


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