California Fire Impacts Vintage Petroleum's Production
October 27 2003 - 7:11PM
PR Newswire (US)
California Fire Impacts Vintage Petroleum's Production TULSA,
Okla., Oct. 27 /PRNewswire-FirstCall/ -- Vintage Petroleum, Inc.
announced today a portion of its oil and gas production in Ventura
County, California has been shut-in as a result of the Simi Valley
fire northwest of Los Angeles. As the fire approached Vintage's
properties, Vintage evacuated all personnel safely without
injuries. Production shut-ins began on Sunday, October 26 and net
production of approximately 2,400 barrels of oil per day and 6.4
million cubic feet of gas per day (approximately 3,500 barrels of
oil equivalent per day) is currently shut-in. This shut-in
production represents less than five percent of Vintage's total oil
and gas production. The assessment of any environmental impact and
physical damage to wells and production facilities is underway in
concert with local authorities and state regulatory agencies.
Vintage expects wells to be returned to production area by area as
necessary repairs are made and electric power service is restored
over the next several weeks. 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 production, planned development work and other events
or developments that the company expects 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, exploitation
and exploration successes, actions taken or to be taken by foreign
governments as a result of economic conditions or other factors,
changes in foreign exchange and inflation rates, as well as
continued availability of capital and financing, general economic,
market or business conditions, and risk factors listed from
time-to-time in our reports and other documents filed with the
Securities and Exchange Commission. Vintage Petroleum, Inc. is an
independent energy company engaged in the acquisition,
exploitation, exploration and development of oil and gas properties
and the gathering and 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
http://www.vintagepetroleum.com/ . DATASOURCE: Vintage Petroleum,
Inc. CONTACT: Robert E. Phaneuf, Vice President - Corporate
Development of Vintage Petroleum, Inc., +1-918-592-0101 Web site:
http://www.vintagepetroleum.com/
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