Vecta Energy Provides Upate on Exshaw/Bakken Joint Venture Transaction

Vecta Energy Corporation (TSX VENTURE:VER) ("Vecta" or the "Company") wishes to
provide an update on the joint venture transaction (the "JV") with Vecta Oil &
Gas Ltd., ("VOG") as first announced on March 8, 2011.


Under the terms of the Joint Venture Agreement, Vecta is to participate with VOG
in an Exshaw/Bakken light oil resource play in north central Montana. The
closing date of the transaction was initially set for April 8, 2011, but has now
been extended by VOG until May 31, 2011. The extension shall allow Vecta to
complete the due diligence review of the VOG assets, including new leases
covering lands across leads developed by the technical team at VOG and confirmed
by Vecta.


As a result of the ongoing VOG lease acquisition program, we are pleased to
announce that the JV acreage now covers interests in more than 117,000 acres
(58,500 net to Vecta), a 30% increase over the previously announced 90,000
acres. Vecta and the technical team at VOG continue their extensive geological
and petrophysical work on the JV acreage, which indicates thermal maturity, high
resistivity, reservoir thicknesses between 8 and 42 metres, source rock
thicknesses between 8 and 25 metres and porosities of over 5% that are pervasive
across the JV acreage, with highs of as much as 14%.


Management of Vecta continue to be of the view that the JV is in the best
interests of the Company and is continuing its efforts to complete the necessary
financing, as well as the associated due diligence. Tom Coffman, President of
Vecta states "While we are disappointed in the extended period of time it has
taken to close this transaction, the analysis that we have done as part of the
due diligence process has further validated the numerous merits of the play and
the tremendous opportunity presented by the JV."


Closing has also been affected by delays in the financing initiative. To raise
funds for Vecta's commitments under the JV, Vecta entered into an engagement
letter with Wellington West Capital Markets Inc. ("Wellington") and filed a
preliminary prospectus with various securities commissions in an attempt to
raise $32.0 million by issuing subscription receipts. Based on feedback received
to date, Vecta and VOG are working to amend the JV to address concerns expressed
in the market in the course of securing the necessary capital. In conjunction
with the extension for closing and the revision and amendment of the Joint
Venture Agreement, the Secured Loan Holders have agreed to extend the maturity
of the Secured Loans to June 30, 2011.  


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This news release contains forward-looking statements relating to the Company's
plans and other aspects of the Company's anticipated future operations,
strategies, financial and operating results and business opportunities.
Forward-looking statements typically use words such as "anticipate", "believe",
"project", "expect", "plan", "intent" or similar words suggesting future
outcomes, statements that actions, events or conditions "may", "would", "could"
or "will" be taken or occur in the future, or consists of statements regarding
estimates of future production, operating costs or other expectations, beliefs,
plans, objectives, assumptions or statements about future events or performance.
Statements regarding reserves are also forward-looking statements, as they
reflect estimates as to the expectation that the deposits can be economically
exploited in the future.


Although the Company believes that the expectations represented in such
forward-looking statements are reasonable, there can be no assurance that such
expectations will prove to be correct. As a consequence, actual results may
differ materially from those anticipated in the forward-looking statements and
you should not unduly rely on forward-looking statements. The forward-looking
statements contained in this news release are made as the date of this news
release and the Company does not undertake any obligation to update publicly or
to revise any of the included forward-looking statements, whether as a result of
new information, future events or otherwise, except as may be required by
applicable securities laws.