SOURCE: Venoco, Inc.

Venoco, Inc.

December 02, 2011 13:13 ET

Venoco, Inc. Hires Sr. VP - Bus. Development & Acquisitions

DENVER, CO--(Marketwire - Dec 2, 2011) - Venoco, Inc. (NYSE: VQ) announced today that Mark DePuy will rejoin the company as Senior Vice President of Business Development and Acquisitions.

"We are fortunate to have Mark rejoin the Venoco team," said Tim Marquez, Chairman and CEO. "In addition to his extensive, domestic and worldwide experience, Mark knows our assets very well from his years overseeing our operations."

Mr. DePuy will step down as CEO and President of Great Western Oil and Gas, a position he has held since March 2010 and where he established an impressive track record of growth through asset development and acquisitions. Prior to joining Great Western, he consulted with Venoco on coastal development projects in California after resigning as the company's Chief Operating Officer and Executive Vice President late in 2008. Mr. DePuy first joined Venoco in 2005 as Vice President of Northern Assets responsible for production and development of the company's Coastal California assets. The following year, he was named Chief Operating Officer and oversaw the company's assets in Northern and Southern California, as well as numerous field operations in Texas, including the large Hastings field which the company subsequently sold to Denbury Resources subject to a reversionary working interest.

Prior to joining Venoco in 2005, Mr. DePuy spent 27 years in various operational, management, and business planning functions with Unocal / Chevron in both domestic and international operations. His work experience includes over 13 years in Coastal California operations, both offshore and onshore, and across all engineering disciplines. As a corporate planning manager for Unocal / Chevron, Mr. DePuy was responsible for worldwide capital budgeting, business planning, and performance management.

Mr. DePuy is a registered engineer, with a petroleum engineering degree from Colorado School of Mines and an M.B.A. from UCLA's Anderson Graduate School of Management. He is a member of the Society of Petroleum Engineers, the American Petroleum Institute and part of the Denver Scholarship Foundation fund raising committee.

About the Company

Venoco is an independent energy company primarily 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 four onshore properties in Southern California, and has extensive operations in Northern California's Sacramento Basin.

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