SOURCE: Venoco, Inc.

Venoco, Inc.

June 05, 2012 09:53 ET

Venoco, Inc. Announces Stockholder Approval of Go-Private Agreement

DENVER, CO--(Marketwire - Jun 5, 2012) - Venoco, Inc. (NYSE: VQ) announced the results of a special meeting of shareholders held today to consider and vote on a proposal to adopt and approve the merger agreement dated as of January 16, 2012, between the company and Timothy M. Marquez, Venoco's chairman and CEO, and certain entities affiliated with Mr. Marquez (the Proposal). A majority of all outstanding shares and a majority of the outstanding shares not owned by Mr. Marquez and his affiliates or by any director, officer or employee of Venoco or its subsidiaries voted in favor of the adoption of the Proposal. Completion of the transaction is subject to a financing condition and customary closing conditions.

About the Company

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

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