SOURCE: Venoco, Inc.

Venoco, Inc.

October 11, 2010 07:06 ET

Venoco, Inc. Announces "At-the-Market" Offering

DENVER, CO--(Marketwire - October 11, 2010) -  Venoco, Inc. (NYSE: VQ) announced today that it will shortly file a prospectus supplement under which it may from time to time sell an aggregate of up to $75 million of its common shares through an "at-the-market" share offering program. The shares would be offered through BMO Capital Markets Corp. as sales agent.

Sales of common shares, if any, will be made on the New York Stock Exchange, to or through a market-maker other than on an exchange or in negotiated transactions. The company intends to use the proceeds from any sales for general corporate purposes. Sales in the offering, if any, would be made pursuant to a prospectus supplement to the company's prospectus, dated May 14, 2010, filed as part of its effective shelf registration statement.

The prospectus and the prospectus supplement may be obtained when available by visiting EDGAR on the SEC website at or the sales agent will arrange to send the prospectus and the prospectus supplement when available by contacting BMO Capital Markets Corp., 3 Times Square, 27th Floor, New York, New York 10036, Attn: Equity Syndicate or by email to or by calling 1-800-414-3627. Prospective investors should read the registration statement (including the base prospectus), the prospectus supplement and other documents Venoco files with the SEC for more complete information about Venoco and the offering.

This press release is for informational purposes only and is not an offer to sell or the solicitation of an offer to buy any security of the company, nor will there be any sale of any security in any jurisdiction in which such offer, sale or solicitation would be unlawful. The offering may be made only by means of a prospectus supplement and related base prospectus.

Safe Harbor Statement
All statements made in this news release other than statements of historical fact are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on assumptions and estimates that management believes are reasonable based on currently available information; however, management's assumptions and the company's future performance are both subject to a wide range of business risks and uncertainties and there is no assurance that these goals and projections can or will be met. All forward-looking statements are made only as of the date hereof and the company undertakes no obligation to update any such statement. Information on risks and uncertainties that may affect the company's operations and financial performance, and the forward-looking statements made herein, is available in the company's filings with the Securities and Exchange Commission, which are incorporated by this reference as though fully set forth herein.

About Venoco
Venoco is an independent energy company primarily engaged in the acquisition, exploitation and development of oil and natural gas properties in California and Texas. Venoco operates three offshore platforms in the Santa Barbara Channel, has non-operated interests in three other platforms, operates four onshore properties in Southern California, has extensive operations in Northern California's Sacramento Basin and operates thirteen fields in Texas.

Contact Information

  • For further information, please contact
    Mike Edwards
    Vice President
    (303) 626-8320
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