DENVER, Aug. 29 CO-Venoco-Director
DENVER, Aug. 29 /PRNewswire-FirstCall/ -- Venoco, Inc. (NYSE: VQ) today
announced that J. Timothy Brittan has resigned from its board of directors.
Mr. Brittan is President of Infinity Oil & Gas, Inc., an exploration and
production company and joined the Venoco board in 2003.
"It is with regret that I accepted Tim's resignation," said Venoco
founder, chairman and CEO, Tim Marquez. "Tim has been a big contributor to
Venoco through a time of dramatic transformation. Tim was a member of the
board that resolved shareholder issues that constrained growth, then
reorganized the management team and eventually launched our IPO in 2006."
Mr. Brittan's resignation was prompted by ongoing discussions Venoco is
having with Infinity about potential transactions. These discussions impaired
Mr. Brittan's ability to continue as an independent director on Venoco's
board. "We wish Tim continued success with his company and thank him for his
many years of service," Mr. Marquez said.
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 eighteen fields in Texas.
SOURCE Venoco, Inc.
