Vintage Petroleum Announces Fifth Successful Horizontal Well in Yemen and Return to Production of Hurricane Affected Volumes

Vintage Petroleum, Inc. (NYSE:VPI) announced today that
the An Nagyah #17 well in the Republic of Yemen has tested light (43
degree API) oil from the sub-salt Upper Lam formation. The well is the
fifth horizontal well drilled in the company's An Nagyah field.
   The An Nagyah #17 well was drilled horizontally to a total
measured depth of 6,779 feet (2,066 meters) and was completed in 1,887
feet (575 meters) of gross oil bearing Lam section. The interval was
tested at a stabilized, water free rate of 3,250 barrels per day of
oil, 1.8 million cubic feet per day of natural gas flowing at 480
pounds per square inch tubing pressure on a 48/64 inch choke. Two
additional wells are planned to be drilled during the remainder of
2005.
   With testing completed at the An Nagyah #17 well, the drilling rig
is moving approximately two miles to the An Nagyah #18 location to
drill a horizontal Lower Lam development well.
   All of the An Nagyah field production is being transported via a
recently completed 18 mile (28 km) pipeline to a nearby facility for
processing and transportation to an export terminal. The pipeline is
currently transporting approximately 10,200 gross barrels of oil per
day (5,325 net). Daily production from the concession is expected to
increase to 11,000 to 12,000 gross barrels of oil (5,750 to 6,250
barrels net) by the end of the month.
   Progress continues towards returning to production volumes that
were shut-in as a result of Hurricanes Katrina and Rita. The company
expects that all but approximately 1,100 barrels of oil equivalent per
day, or one and one-half percent of the net daily volume produced in
the second quarter, will be returned to production by the end of
October.

   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
plans, future production, strategies, exploration drilling,
exploitation activities, estimates of oil and gas reserves, and events
or developments that the company expects or believes 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 and to be taken by foreign governments as a result of
political and economic conditions or other factors, changes in foreign
exchange rates and inflation rates, continued availability of capital
and financing, and general economic, market or business conditions, as
well as other risk factors described from time to time in the
company's filings with the SEC. The company assumes no obligation to
update publicly such forward-looking statements, whether as a result
of new information, future events or otherwise.

   Vintage Petroleum, Inc. is an independent energy company engaged
in the acquisition, exploitation and exploration of oil and gas
properties and the 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 www.vintagepetroleum.com.