Venoco, Inc. (VQ) Share Price

Venoco, Inc. Extends Financing Date in Go-Private Agreement

Jul 20, 2012 6:03:00 AM
DENVER, CO -- (Marketwire) -- 07/20/12 -- Venoco, Inc. (NYSE: VQ) announced that based on the recommendation of a special committee of independent directors, the board of directors of Venoco has agreed to extend to August 31, 2012 the date by which committed financing to complete the previously announced merger between Venoco and an affiliate of Timothy M. Marquez, Venoco's chairman and CEO, must be obtained. The merger was previously approved by a majority of the outstanding shares of Venoco common stock and a majority of the votes of the common stock not owned by Mr. Marquez, his affiliates, and by directors, officers and employees of Venoco or its subsidiaries. Completion of the transaction is subject to certain closing conditions, including a financing condition and other customary conditions.

Rick Walker, chairman of the special committee of the board of directors, stated, "In light of the June 5, 2012 approval of the transaction by a large majority of the company's public shareholders as well as continued progress that has been made toward obtaining the necessary financing by Mr. Marquez, the special committee concluded that an extension until August 31, 2012 was appropriate in order to maximize the opportunity that Venoco shareholders receive the benefits of the merger transaction."

Mr. Marquez commented, "I am pleased with the interest expressed by multiple parties to provide financing for our 'go private' proposal. I feel confident that with this additional time, we will be able to secure a financing package sufficient to close the transaction."

In connection with this extension of the Financing Date, the committee negotiated for a requirement to amend the End Date (as defined in the Merger Agreement) from October 16, 2012 to September 14, 2012, by which time closing must occur or the merger agreement may be terminated by either party. Mr. Walker noted, "The acceleration of the End Date of the Merger Agreement by more than a month will reduce the uncertainty associated with the current 'go private' process."

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.

Forward-Looking Statements

All statements in this press release except statements of historical fact are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and these statements are subject to numerous risks and uncertainties. The closing of the merger agreement with Mr. Marquez and his affiliates is subject to a number of conditions, including a financing condition, and those conditions may not be satisfied. The term sheet referred to above is not a binding commitment on the part of the potential source of financing. The financing contemplated by the term sheet would be in addition to certain financing arrangements to be entered into by the company, and these arrangements may not be finalized or closed. All forward-looking statements are made only as of the date hereof and the company undertakes no obligation to update any such statement. Further information on risks and uncertainties that may affect the company's operations and financial performance, and the forward-looking statements made herein, is available in the company's filings with the Securities and Exchange Commission, which are incorporated by this reference as though fully set forth herein.

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

Source: Venoco, Inc.

Somebody needs to cheer . Go VQ

Book/Sh = $0.77
Cash/Sh = $0,00
Equity = 47,7M
Market Cap. = 604.3M
Retained Earnings = -399.0M
Debit to Equity Ratio = 18.25
Quick Ratio = 0.51
Current Ratio = 0,61
Net Cash = 0,02M

~ Monday! $VQ ~ Earnings posted, pending or coming soon! In Charts and Links Below!

~ $VQ ~ Earnings expected on Monday *
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One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.








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*If the earnings date is in error please ignore error. I do my best.

Venoco Shareholder Action Group Created
I just set up a site for us to share ideas about this deal. take a look

venocoshareholderactiongroup.blogspot.com

Venoco Shareholder Action Group Website

$12.50 makes me sick. I'm looking for information about what can be done, I figure there is strength in numbers

Jefferies is out with its report today on Venoco (NYSE: VQ), lowering its PT from $18.50 to $16.

In a note to clients, Jefferies writes, "Our $16 PT includes $10/share for proved reserves and $6/share for probables including Hastings EOR reserves. We expect reserves to grow little between 2010 and 2012. '12e reserves of 516 bcfe are valued at $2.67/mcfe based on our LT price deck of $85/$5. Risks include commodity price volatility and geologic uncertainty."


Source: http://www.benzinga.com/analyst-ratings/analyst-color/11/05/1067300/update-jefferies-lowers-pt-on-venoco-to-18-50-vq#ixzz1LrpRRqJ5

Nice call tommyboy the stock has been building lower lows every sense. This is likely going to change going into the new year though. Venoco's pretty interesting. In a sense, you are really betting on its core gas position in the Sacramento Basin. It provides nice baseline cash flow because it's gas and is well hedged for the next couple of years. One would say, "well that's not very exciting." But the really attractive upside is Venoco's Monterey Shale play. Venoco has a couple of thousand acres there, and it's just Venoco and Occidental Petroleum Corp. (OXY) in this play.

This Monterey Shale is a very interesting oil play on the coast of California. Estimates say there could be more than 100 million barrels in place, though the estimates could be extremely high. This play is almost like an offshore. You have a lot of upside, but you've got a lot of risk because we just don't know about the timing. The company's only going to drill four or five horizontal Monterey Shale wells this year and probably 15–20 next year; so, you're not going to see a ton of results. But as those results unfold, I think you're going to have a lot of people very excited.

This has done very well over the last 16 months. Always follow the lead of insiders. They have been selling a little at a time over the last month or so. Today I sold all. It was by far my largest holding. GLTA!

Congrats! Looks like there is more to come here. Nice uptrend and oil going higher.

Where is everybody?
We are up 300% since Feb. and nobody is here...sold today for a 3 bagger.

Venoco, Inc. to Post Updated Presentation
DENVER, April 1 /PRNewswire-FirstCall/ -- Venoco, Inc. (NYSE: VQ) announced today it will post an updated investor presentation on its website (www.venocoinc.com) after market close on Friday, April 3rd.

The company is also scheduled to release first quarter of 2009 results on Thursday, May 7th - more details will follow regarding conference call in numbers and a link to a webcast.

About the Company

Venoco is an independent energy company primarily engaged in the acquisition, exploitation and development of oil and natural gas properties in California and Texas. 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, has extensive operations in Northern California's Sacramento Basin and operates thirteen fields in Texas.

SOURCE Venoco, Inc.
04/01/2009
CONTACT: Mike Edwards, Vice President of Venoco, Inc., +1-303-626-8320,
investor@venocoinc.com
Web Site: http://www.venocoinc.com
(VQ)

;)

VQ is looking real goooooooooooood these days

No wonder he's buying this up. Money in the bank.

Venoco, Inc. Announces 2008 Financial and Operational Results for Full-Year and Fourth Quarter

- Full-Year Operating Cash Flow up 32%

- Full-Year Production up 11%

- Quarterly Production Record of 22,674 BOE/d

- Pro Forma Reserve Replacement of 161%

DENVER, March 5 /PRNewswire-FirstCall/ -- Venoco, Inc. (NYSE: VQ) today reported financial and operational results for the fourth quarter and full-year 2008. Highlights for 2008 included the following:
-- Operating cash flow of $212 million, up 32% from $161 million in 2007.
-- Production of 7.9 million barrels of oil equivalent (MMBOE) for the
year or 21,674 BOE per day (BOE/d), up 11% from 7.1 MMBOE or 19,535
BOE/d for 2007.
-- Proved Reserves of 97.5 MMBOE as of December 31, 2008. Pro forma for
the sale of the Hastings Complex in early February 2009, Proved
Reserves were 89.8 MMBOE (a 13% increase from December 31, 2007 pro
forma reserves).
-- Adjusted EBITDA of $300 million, up 43% from $210 million for 2007.
-- Adjusted Earnings of $55 million, up 176% from $20 million for 2007.

http://investor.venocoinc.com/phoenix.zhtml?c=193733&p=irol-news2&nyo=0

New SC 13D filing out (Aspen Exploration Corporation):
http://investor.venocoinc.com/phoenix.zhtml?c=193733&p=irol-sec

He owns over 50% of the OS and has a controlling interest but yet keeps buying. Perhaps the co. will be bought out.

Man, this guy is greedy LOL !!!

More insider buying filings last nite!! The CEO adds another 129,000 shares!! He just keeps adding!!!

If the CEO continues to buy up the stock off the street, there is going to be nothing left for us!!! Oh, never mind, that would be good for my current position!!

Also new form 4, more insider buying by CEO

New 8K out:

http://investor.venocoinc.com/phoenix.zhtml?c=193733&p=irol-sec

MORE GREAT NEWS FOR VQ JUST ANNOUNCED!! THIS JUST GETS BETTER!!

I just did some calculations on how many shares should be issued, via the % owned reported by some recent Schedule 4's and I have the shares issued at around 55,000,000 million shares. Of those shares the CEO has now purchased about 28,500,000 of them or 51.8% of the company. Now look at the other institutional investors who have bought the stock over the last year and there cannot be more than 10 million shares in the float!! When Gas and Oil go back up, this stock may be the biggest best kept secret on the street!!

I know, I keep reading how many hundreds of MILLIONs the CEO has used of his own money to buy over 28 million shares off the street and I just shake my head!!! Any guess on how many shares are in the float????

Venoco, Inc. Announces Reserves and Operations Update

--Venoco Reports Year-End 2008 Reserves of 97.5 Million BOE - Reflecting 13% Year-over-Year Reserve Growth (net of production and pro forma for the sale of the Hastings Complex). --Full-year 2008 Production was 21,674 BOE/d - an increase of 11% over Full-year 2007. --Fourth Quarter 2008 Production was 22,674 BOE/d - an increase of 13% over Fourth Quarter of 2007.

DENVER, Feb 20, 2009 /PRNewswire-FirstCall via COMTEX/ -- Venoco, Inc. (NYSE: VQ) today announced that its total proved oil and gas reserves as of December 31, 2008 were 97.5 million barrels of oil equivalent (MMBOE) at SEC pricing. The company's production in 2008 was approximately 7.9 MMBOE or 21,674 BOE/d.
"We were successful this year in adding reserves in our California business units and are pleased with our double-digit, pro forma reserve growth," said Tim Marquez, Venoco's Chairman and CEO. "Reserves in our long-lived, low-decline rate oil assets in Southern California and our gas assets in the Sacramento Basin were only modestly impacted by commodity prices."

Net of production in 2008, the company added 5.7 MMBOE of proved reserves in its Southern California assets with the majority of the additions coming from the West Montalvo field. In the Sacramento Basin the company added 7.8 MMBOE to proved reserves. In Texas, where pricing had a significant negative impact, reserves declined a total of 8.0 MMBOE net of production, primarily as a result of a decrease in reserves from the Hastings Complex of 5.8 MMBOE net of production.

Pro forma for the February 2, 2009 sale of the Hastings Complex, Venoco's December 31, 2008 total proved reserves are 89.8 MMBOE, which, net of production, represents a 13% increase from pro forma December 31, 2007 reserves of 85.5 MMBOE and replacement of 161% of production. Production in 2008, pro forma for the Hastings sale, was 7.0 MMBOE. Pro forma for the Hastings sale, the company expects 2008 all-in finding and development costs will be approximately $25.75 per BOE.

The pre-tax PV-10 value of the company's reserves using year-end SEC pricing of $44.60 per barrel for oil and $5.62 per MMBTU for gas is $616.7 million. The company's estimate of reserves using a NYMEX 5-year strip pricing is 108.2 MMBOE. The pre-tax PV-10 value using the NYMEX 5-year strip pricing is $1.614 billion.

Full Cost Ceiling Write-down

Based on year-end 2008 commodity prices, the company expects to record a non-cash, full-cost ceiling write-down of approximately $645 million in the fourth quarter of 2008. As a result of the write-down, the company's 2009 guidance on DD&A will fall to $12.00 per BOE. The company has hedged 101% of its forecast 2009 production, more than 90% of its anticipated 2010 production, and more than 60% of its anticipated 2011 production. Because Venoco does not utilize cash flow hedge accounting for its derivative instruments, the value of these contracts (which approximated $90 million at December 31, 2008) was not included in the ceiling test calculation.

Operations Update

The company announced that production in the fourth quarter of 2008 was an all-time high of 22,674 BOE/d, an increase of 3.3% over the 21,949 BOE/d in the third quarter of 2008 and a 13% increase over the fourth quarter of 2007 production of 20,100 BOE/d. Production for the full-year of 2008 was 21,674 BOE/d, up 11% over production in 2007 of 19,535 BOE/d.

The following table details the company's quarterly daily production by region (BOE/d) as reported:




Region 4Q 2007 3Q 2008 4Q 2008
Sacramento Basin 7,887 9,363 9,668
Southern California 8,273 8,606 8,903
Texas (and other) 3,940 3,980 4,103
Total 20,100 21,949 22,674
====== ====== ======

Total excluding Hastings 17,578 19,551 20,110
====== ====== ======


Production from the Sacramento Basin continued to climb in the fourth quarter. However, the company's 2009 capital expenditure plan calls for a 3-rig drilling program in the Basin (a reduction from the 5-rig program run throughout most of 2008). As a result, average daily production in the Basin is expected to decline by year-end 2009.

In Southern California, production climbed at the offshore Sockeye field as a result of a solid response to the company's waterflood and several well re-works completed late in the second quarter of 2008. Production also continued to increase at the West Montalvo field. The company expects to see modest production increases from its Southern California properties during 2009.

Pro forma for the sale of the Hastings Complex, the company expects to see modest production increases from its remaining Texas properties during 2009.

Expectations with respect to future production rates, reserves and capital projects are subject to a number of uncertainties, including those referenced below in "Forward-looking Statements".

2009 Capital Budget

The company announced on January 12, 2009 that its revised capital expenditures forecast for 2009 is $150 million. Approximately $74 million (49%) is budgeted for the Sacramento Basin, $35 million (23%) for Southern California, $17 million (12%) for Exploration, $5 million (3%) for Texas with the balance of $19 million (13%) for capitalized G&A. As to spending by category, approximately $90 million (60%) will be for development wells and wellwork, $23 million (15%) will be spent on facilities/other, with the balance, as noted above, for Exploration and capitalized G&A.

2009 Forecasts

The following table summarizes the company's 2009 guidance:

-- Production: 19,000 BOE/d
-- Lease Operating Expenses: $15.00 per BOE
-- G&A Expenses (excluding stock-based compensation): $4.50 per BOE
-- DD&A: $12.00 per BOE


Earnings Conference Call

Venoco will file its form 10-K with the SEC and host a conference call to discuss results on Thursday, March 5, 2009 at 11:00 a.m. Eastern time (9 a.m. Mountain). The conference call will be webcast and those wanting to listen may do so by using a link on the Investor Relations page of the company's website at http://www.venocoinc.com. Those wanting to participate in the Q & A portion can call (866) 730-5768 and use conference code 92777677. International participants can call (857) 350-1592 and use the same conference code.

A replay of the conference call will be available for one week by calling (888) 286-8010 or, for international callers, (617) 801-6888, and using passcode 51550711. The replay will also be available on the Venoco website for 30 days.

About the Company

Venoco is an independent energy company primarily engaged in the acquisition, exploitation and development of oil and natural gas properties in California and Texas. 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, has extensive operations in Northern California's Sacramento Basin and operates fifteen fields in Texas.

Forward-looking Statements

Statements made in this news release relating to Venoco's anticipated "ceiling test" write down, future production and expenses and all other statements except statements of historical fact, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on assumptions and estimates that management believes are reasonable based on currently available information; however, management's assumptions and the company's future performance are both subject to a wide range of business risks and uncertainties and there is no assurance that these goals and projections can or will be met. Any number of factors could cause actual results to differ materially from those in the forward-looking statements, including, but not limited to, the timing and extent of changes in oil and gas prices, the timing and results of drilling and other development activities, the availability and cost of obtaining drilling equipment and technical personnel, risks associated with the availability of acceptable transportation arrangements and the possibility of unanticipated operational problems, delays in completing production, treatment and transportation facilities, higher than expected production costs and other expenses, and pipeline curtailments by third parties. All forward-looking statements are made only as of the date hereof and the company undertakes no obligation to update any such statement. Further information on risks and uncertainties that may affect the Company's operations and financial performance, and the forward-looking statements made herein, is available in the company's filings with the Securities and Exchange Commission, which are incorporated by this reference as though fully set forth herein.

SOURCE Venoco, Inc.


http://www.venocoinc.com

Well todays news and increased production would really explain why the CEO has bough several millions of shares of his own company stock off the street!! Amazing!!! He actually went to the street and spent his own money to buy the stock!!! The future for VQ looks outstanding!!! This is the way to run a business!!!

New form 4 out now 28,171,985 shares are being owned by CEO Marquez

http://investor.venocoinc.com/phoenix.zhtml?c=193733&p=irol-sec

Downgraded this morning! Took it down to where all the insiders have been buying so I suspect they will buy more shares which is good for those of us who purchased for the energy turnaround!!

Anybody know why the sudden drop today? Thinking about taking a position here.

Venoco, Inc. CFO to Speak at Conference

DENVER, Feb 13, 2009 /PRNewswire-FirstCall via COMTEX/ -- Venoco, Inc. (NYSE: VQ) announced today that Tim Ficker, CFO, will be speaking at the EnerCom Oil & Services Conference on Wednesday, February 18, 2009 beginning at 1:05 p.m. Eastern time.

The presentation will be available after market-close on Tuesday, February 17th via the Investor Relations page of the company's website, www.venocoinc.com.

The presentation will be webcast live using the URL below or the link may be accessed on the company's website. http://www.investorcalendar.com/CEPage.asp?ID=140751

Venoco is an independent energy company primarily engaged in the acquisition, exploitation and development of oil and natural gas properties in California and Texas. 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, has extensive operations in Northern California's Sacramento Basin and operates fifteen fields in Texas.

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

SOURCE Venoco, Inc.

http://www.venocoinc.com

Consolidating recent gains nicely in a tighter trading range for next move up.

MARQUEZ holds 27,879,385 shares as of 01/27/2009!

Yesterdays after hour 43,873 share volume action:

16:33 $ 3.25 300
16:32 $ 3.25 2,731
16:31 $ 3.2815 4,300
16:14 $ 3.2777 700
16:13 $ 3.2777 300
16:13 $ 3.2777 200
16:13 $ 3.2777 200
16:13 $ 3.2777 300
16:13 $ 3.2777 100
16:13 $ 3.2777 100
16:13 $ 3.2777 500
16:13 $ 3.2777 100
16:13 $ 3.2777 1,500
16:13 $ 3.2777 100
16:12 $ 3.2777 100
16:12 $ 3.2777 1,100
16:03 $ 3.25 31,242

MORGAN STANLEY filed one too

http://investor.venocoinc.com/phoenix.zhtml?c=193733&p=irol-sec

Clear sailing to around $12 looks like.

THIS CAN BE VERY INTERESTING

% Held by Insiders1: 66.63%

8-Dec-08 MARQUEZ TIMOTHY
Officer 750,000 Indirect Purchase at $2.80 per share. $2,100,000

mmmmmmmmmmmmmmmmm

I wonder how many shares are left free trading?

BLACKROCK JUST FILED A 13g, THEY OWN 3.8 MILLION SHARES OF VQ NOW!!!!

lookin' real good

Look at the share volume on friday 10% of the float.

VQ - more coming for sure !!
ascending triangle in formation ..

Pretty soon the insiders are going to take every share off the street! They just keep accumulating shares which bodes well for the future of higher oil and gas prices. We know it is coming, summer driving season is upon us!!

8K out http://investor.venocoinc.com/phoenix.zhtml?c=193733&p=irol-sec

Great! NP. Go VQ;)

I just put it in I box, thaks very much for the chart Zorro

7 new filings (form 4 & 3) can be found on website:

http://investor.venocoinc.com/phoenix.zhtml?c=193733&p=irol-sec

Can we get this cahrt in the box?

Man this is great! Just keeps chugging along. WEEEE;)

Today CEO was speaking at the Credit Suisse 2009 Energy Summit. The presentation is available on the website as well as the webcast

http://investor.venocoinc.com/phoenix.zhtml?p=irol-eventDetails&c=193733&eventID=2088444