Vast Exploration Inc. Provides Drilling Update on Kurdistan Operations

CALGARY, ALBERTA--(Marketwire - Jan. 14, 2011) - Vast Exploration Inc. ("Vast" or the "Company") (TSX VENTURE:VST) is pleased to provide the following update on the drilling progress of the Qara Dagh - 1 Exploration Well.

Since the last update on December 13, 2010 the well has been drilled down to 2,522 meters, and over the past several days, an intermediate 9 5/8 inch casing string has been successfully set and cemented.

Based on regional geological correlations with nearby wells it has been interpreted that the well is near the top of the Shiranish formation which is the first of three primary drilling targets in the Cretaceous.

Once logging and related geological survey runs are completed on this current section, drilling operations are expected to resume. Mr. Ahmed Said, President & CEO, stated "We are pleased with the recent drilling progress, despite past delays due to difficult geological conditions. We are eagerly awaiting further results as we drill into our primary targets".

About Vast Exploration

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 prospective nature of the Block, exploration and development plans and projected expenses and timetable 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". 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.