Vast Exploration Inc.: Sale of Non Core Subsidiaries

Vast Exploration Inc. (TSX VENTURE:VST), a Forbes & Manhattan Energy Group
company, reports that it has completed a transaction with an independent third
party company to sell two of its wholly owned subsidiaries historically involved
in natural gas exploration and production operations in Alberta and Alabama. In
consideration for the sale of the subsidiaries and the assignment of debt owed
by the subsidiaries to Vast, the purchaser has provided Vast with a promissory
note in the amount of $325,000, with interest payable at 3% per annum. The
payments to Vast under the promissory note will be made in increments over a
three year period. 


The sale transaction by Vast is a divestment of two non-core subsidiaries with
potential liabilities due to historical operations. This transaction is a part
of the company's ongoing plans to restructure and refocus for its next potential
venture. Vast currently holds a net 10% carried interest in the Putumayo 3 oil
and gas block in Colombia and plans on evaluating and pursuing new acquisition
opportunities. 


This press release contains "forward-looking information" within the meaning of
applicable Canadian securities legislation. Forward-looking information
includes, but is not limited to, statements with respect to the sale of
subsidiaries and Vast's intention to pursue new acquisition opportunities.
Generally, forward looking information can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or variations of such
words and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of activity,
performance or achievements of the Company to be materially different from those
expressed or implied by such forward-looking information, including but not
limited to: general business, economic, competitive, geopolitical and social
uncertainties; the actual results of exploration activities; regulatory risks;
risks inherent in foreign operations; and other risks of the oil and gas
industry. Although the Company has attempted to identify important factors that
could cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause results not
to be as anticipated, estimated or intended. There can be no assurance that such
information will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking information. The
Company does not undertake to update any forward-looking information, except in
accordance with applicable securities laws.


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Vast Exploration Inc.
Ahmed Said
President and CEO
[phone]