SOURCE: Venoco, Inc.

Venoco, Inc.

February 07, 2011 06:50 ET

Venoco, Inc. Announces Common Stock Offering

DENVER, CO--(Marketwire - February 7, 2011) - Venoco, Inc. (NYSE: VQ) announced today that it intends to offer 4,000,000 shares of common stock to the public through an underwritten offering. The underwriters will have the option to purchase up to an aggregate of 600,000 additional shares of common stock from the company to cover any over-allotments. Venoco intends to use the net proceeds from the offering to reduce certain indebtedness and/or for general corporate purposes.

BofA Merrill Lynch and BMO Capital Markets will act as joint book-running managers for the offering.

When available, copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained free of charge by visiting EDGAR on the Securities and Exchange Commission's website at or from the underwriters as follows:

The common stock will be offered and sold pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering is being made only by means of a prospectus and related prospectus supplement.

Forward-looking Statements

Statements made in this news 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 are subject to a wide range of business risks and uncertainties and there is no assurance that these assumptions and expectations will be realized. Information regarding risks and uncertainties that may affect the company's operations 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.

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