Venoco, Inc’s production for the third quarter of 2007 was 20,700 barrels of oil equivalent per day (BOE/d), a 22% increase over the third quarter of 2006. Of the 3,738 BOE/d growth between periods, about one third results from the second quarter acquisitions of the West Montalvo field in California and properties in Texas including the Manvel field.

"I am very pleased with our first year as a publicly traded company," noted Venoco's founder, Chairman and CEO, Tim Marquez. "We have achieved significant growth over this past year both organically and through strategic acquisitions. For 2008 we have a solid portfolio of organic growth opportunities and will continue to actively pursue acquisitions."

Third quarter net production averaged 20,700 BOE/d, compared to 16,962 BOE/d in the third quarter of 2006. The company expects full-year 2007 production to be up 25% from full-year 2006 production and to average 19,900 BOE/d.

"We see production growing organically throughout the coming year," said Venoco's Chief Operating Officer and Executive Vice President, Mark DePuy. "We expect production increases in all our major areas, including continued growth in both of our recently acquired properties - West Montalvo in coastal California and Manvel in Texas. We commenced drilling on Platform Grace in the third quarter with production expected to come on line in November. We continue to have an active development drilling and workover program in the Sacramento Basin with five drilling and five workover/completion rigs. In addition, we remain active in Hastings and expect our efforts to increase fluid processing capacity will further increase production from the field."