Weiss & Lurie, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating Venoco Inc. (NYSE: VQ) for potential breaches of fiduciary duty and other violations of law by its Board of Directors arising from the Board's evaluation of a non-binding buy-out offer by the Company's Chairman, CEO, and majority shareholder, Timothy M. Marquez.

Marquez already holds 50.3% of Venoco's outstanding common stock and seeks to purchase the remainder of the Company for merely $12.50 per share. The proposed price values Venoco's shares more than 44% below the stock's 52-week high of $22.46 in February 2011. Most, if not all, analysts covering Venoco have set the price target for the stock at or above $14 per share, with a high target of $24 per share.

As Chairman and CEO, Marquez understands the intrinsic value of the Company and its prospects for growth. Notably, in its most recent quarter, in attempting to offset low gas prices, Venoco invested half its capital expenditure in the oil-rich Monterey shale formation. In making his proposal at this time, Marquez appears to be seeking to take advantage of the recent dip in the Company's stock. In fact, less than a week before Marquez made his proposal, Venoco's stock hit its 52-week low of $8.18 per share.

If you have held Venoco shares since at least August 29, 2011 and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Julia J. Sun either by email at info@weisslurie.com or by telephone at (888) 593-4771.

Weiss & Lurie has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded institutions and individuals and obtained important corporate governance in these cases. If you have information or would like legal advice concerning possible corporate wrongdoing, consumer fraud, or anti-trust violations, please email us at info@weisslurie.com or fill out the form on our website, http://www.weisslurie.com/contact/report_fraud/.

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Weiss & Lurie
Julia J. Sun, Esq.
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