The law firm of Wohl & Fruchter LLP has commenced an investigation into the proposal by the Chairman and Chief Executive Officer of Venoco, Inc. (VQ) (NYSE: VQ), to acquire the publicly-held shares of VQ at a price of $12.50 per share in cash.

On August 29, 2011, VQ announced that its board of directors had received a non-binding proposal from Timothy M. Marquez, Chairman and CEO of the company, to acquire all of the outstanding shares of the company's common stock for $12.50 per share in cash.

Mr. Marquez already owns approximately 50.3% of VQ's outstanding shares.

The proposed acquisition price is at a discount to VQ's 30-, 60- and 90-day trailing closing prices, and appears timed to exploit the recent run-down in the company's stock price. Indeed, several analysts have opined that Mr. Marquez's offer substantially undervalues the company.

For example, Philip McPherson, an analyst at Global Hunter with a $20 per share target on VQ, called Mr. Marquez's bid the "Takeunder of the Decade." Prithcard Capital's Stephen Berman pointed out the bid does not factor in upside from certain assets held by VQ.

Wohl & Fruchter's investigation concerns the fairness of Mr. Marquez's proposal, the causes of VQ's stock price decline in the months leading up to the proposal, and the adequacy of the procedures adopted by VQ to respond to the proposal.

Additional information is available at http://www.wohlfruchter.com/cases/vq.

Persons with relevant information, and VQ shareholders with questions about this investigation, are invited to contact our Firm.

About Wohl & Fruchter

Wohl & Fruchter LLP represents plaintiffs in litigation arising from fraud and other fiduciary breaches by corporate managers, as well as other complex litigation matters. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.

This release may be deemed to constitute attorney advertising.

Wohl & Fruchter LLP
Ethan Wohl, 212-758-4000
Toll Free: 866-582-8140
ewohl@wohlfruchter.com
www.wohlfruchter.com