VPI Vintage Pete

California Fire Impacts Vintage Petroleum's Production TULSA, Okla., Oct. 27 /PRNewswire-FirstCall/ -- Vintage Petroleum, Inc. announced today a portion of its oil and gas production in Ventura County, California has been shut-in as a result of the Simi Valley fire northwest of Los Angeles. As the fire approached Vintage's properties, Vintage evacuated all personnel safely without injuries. Production shut-ins began on Sunday, October 26 and net production of approximately 2,400 barrels of oil per day and 6.4 million cubic feet of gas per day (approximately 3,500 barrels of oil equivalent per day) is currently shut-in. This shut-in production represents less than five percent of Vintage's total oil and gas production. The assessment of any environmental impact and physical damage to wells and production facilities is underway in concert with local authorities and state regulatory agencies. Vintage expects wells to be returned to production area by area as necessary repairs are made and electric power service is restored over the next several weeks. Forward-Looking Statements This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address estimates of production, planned development work and other events or developments that the company expects are forward-looking statements. Although Vintage believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include oil and gas prices, exploitation and exploration successes, actions taken or to be taken by foreign governments as a result of economic conditions or other factors, changes in foreign exchange and inflation rates, as well as continued availability of capital and financing, general economic, market or business conditions, and risk factors listed from time-to-time in our reports and other documents filed with the Securities and Exchange Commission. Vintage Petroleum, Inc. is an independent energy company engaged in the acquisition, exploitation, exploration and development of oil and gas properties and the gathering and marketing of natural gas and crude oil. Company headquarters are in Tulsa, Oklahoma, and its common shares are traded on the New York Stock Exchange under the symbol VPI. For additional information, visit the company website at http://www.vintagepetroleum.com/ . DATASOURCE: Vintage Petroleum, Inc. CONTACT: Robert E. Phaneuf, Vice President - Corporate Development of Vintage Petroleum, Inc., +1-918-592-0101 Web site: http://www.vintagepetroleum.com/

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