Venoco Says Adjusting Financial Plans, Financing Date Extended to October 8

Venoco (NYSE: VQ) announced today that, based on the recommendation of the special committee of independent directors, the board of directors of Venoco has agreed to extend to 5 p.m. Eastern Time on October 5, 2012 the date by which committed financing must be obtained for the merger contemplated by the merger agreement among Venoco, Timothy Marquez, Denver Parent Corporation and another affiliate of Mr. Marquez (the "Merger Agreement"). The End Date (as defined in the Merger Agreement) was extended to 5 p.m. Eastern Time on October 8, 2012.

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