VPI Vintage Pete

Vintage Petroleum, Inc. (NYSE:VPI) announced today that it has temporarily shut-in net daily production of approximately 4,000 barrels of oil equivalent in the company's eastern Gulf Coast operations as a result of Hurricane Katrina. Activity is currently underway to assess the extent of any damage and the timing required to restore production. The volume temporarily shut-in represents approximately five percent of the net daily volume produced in the second quarter of 2005. 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 damages, plans and timing to restore production to prior levels, future production, strategies, estimates of oil and gas reserves, capital spending, and events or developments that the company expects or believes 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, success of well and facility repair, actions taken and to be taken by governments and their agencies as a result of political and economic conditions or other factors, inflation rates, continued availability of capital and financing, and general economic, market or business conditions, as well as other risk factors described from time to time in the company's filings with the SEC. The company assumes no obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise. Vintage Petroleum, Inc. is an independent energy company engaged in the acquisition, exploitation and exploration of oil and gas properties and the 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 www.vintagepetroleum.com.