Vanco Begins Seismic Survey Offshore Ghana

HOUSTON--Oct. 11, 2002--Vanco has started a 3,000-kilometer 2D seismic survey of its recently signed Cape Three Points Deep License offshore Ghana, West Africa.

On Sept. 28th, the American International Exploration Group began shooting the 2D survey using the Nan Hai 502 vessel. During the next 5 weeks, the survey will shoot 2D seismic over prospects in the block, ranging in water depths from 1,500 to 2,500 meters.

This work program follows the Aug. 19th signing of the Petroleum Agreement for the Cape Three Points Deep license between operator Vanco Ghana Ltd. and the Government of the Republic of Ghana.

The Cape Three Points Deep license covers 2.5 million acres, and is distinguished by a number of anticlinal structures of Cretaceous age.

Houston-based Vanco Energy Company operates offshore seven African countries, and is active in eight. A major deepwater drilling program offshore Africa is planned for 2003.

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CONTACT: Vanco Energy Company, Houston
Janice Van Dyke Walden, 713/877-8544
jwalden@vancoenergy.com