VQ Venoco, Inc.

Venoco, Inc. (NYSE: VQ) announced today that its board of directors has established April 11, 2012 as the record date for its special meeting of stockholders to consider and vote upon the previously announced merger agreement, dated as of January 16, 2012, between the company, Timothy M. Marquez, Venoco's chairman and CEO, and certain entities affiliated with Mr. Marquez. Stockholders of record at the close of business on April 11, 2012 will be entitled to notice of the special meeting and to vote at the special meeting. The date, time and place of the special meeting has not yet been determined and will be announced separately.

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.

Additional Information and Where to Find It

This communication may be deemed to be solicitation material in respect of the proposed acquisition of Venoco, Inc. by Denver Parent Corporation. In connection with the transaction, Venoco, Inc. has filed a preliminary proxy statement on February 13, 2012, as amended on March 21, 2012, and will file or furnish other relevant materials (including the definitive proxy statement) with the Securities and Exchange Commission, or SEC. STOCKHOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY ALL RELEVANT MATERIALS FILED OR FURNISHED WITH THE SEC, INCLUDING THE DEFINITIVE PROXY STATEMENT WHEN IT IS AVAILABLE BECAUSE THESE MATERIALS WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Stockholders are able to obtain a free copy of the preliminary proxy statement and other relevant documents filed with the SEC (including the definitive proxy statement, when available) from the SEC's website at www.sec.gov, or by directing a request by mail to Venoco, Inc., 370 17th Street, Suite 3900, Denver, CO 80202-1370, or from the Company's website at www.venocoinc.com. The contents of the websites referenced above are not deemed to be incorporated by reference into the proxy statement.

Participants in Solicitation

Venoco, Inc. and certain of its directors, officers and other members of management may, under the rules of the SEC, be deemed to be "participants" in the solicitation of proxies from its stockholders that will occur in connection with the transaction. Information concerning the interests of the persons who may be considered "participants" in the solicitation is set forth in the Company's proxy statements and Annual Reports on Form 10-K previously filed with the SEC, and are also set forth in the preliminary proxy statement relating to the transaction filed with the SEC on February 13, 2012, as amended on March 21, 2012. Copies of these documents and the definitive proxy statement, when available, can be obtained, without charge, at the SEC's website at www.sec.gov, by directing a request to the Company at the address above, or at www.venocoinc.com.

For further information, please contact Mike Edwards Vice President (303) 626-8320 http://www.venocoinc.com E-Mail Email Contact