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Venoco Inc | August 2011 Corporate Presentation | Timothy Marquez | Page 3 of 11 | October 31, 2024

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Hastings Field (Texas) ? Venoco retained 22.3% reversionary interest in CO2 flood of the field ? Denbury initiated CO2 flood in Dec. 2010 ? Venoco?s net share of potential reserves estimated to be approximately 40 MMBoe with potential to begin booking proved reserves by year-end 2011(4) Company Overview Venoco, Inc. 3 Sacramento Basin ? Natural gas assets ? 47% of proved reserves(1) ? 55% of production(2) ? Operate 2 of 3 largest natural gas fields in CA ? Hold ~265,000 gross / ~223,000 net acres(3) ? 2011: ~40 wells, 220 recompletions, 20 fracs Sacramento Basin Southern California Monterey Shale Prospects (1) Based on 2010 year end proved reserves. (2) Based on 2010 production. Producing Texas properties, which were sold in a series of transactions during 2009 and 2010, represented ~3% of 2010 production. (3) Sacramento Basin acreage position as of 12/31/10. Onshore Monterey shale acreage position as of 6/30/11. (4) Internal estimate of unrisked reserve potential. See “Net Asset Value & Unrisked Data” and “Cautionary Statement Regarding Forward Looking Information.” (5) See Appendix for a definition of PV-10 and the relevant GAAP reconciliation. Southern California ? Oil focused assets ? 53% of proved reserves(1) ? 42% of production(2) ? South Ellwood, Sockeye and West Montalvo fields ? Numerous development opportunities Monterey Shale Prospects ? Began actively leasing Monterey shale formation properties in 2006 ? Multi-year, multi-100 million barrel potential ? Hold ~304,000 gross / ~214,000 net acres(3) Share price: $12.42 (8/01/11) Shares outstanding: 61.6 million Market capitalization: $765 million Enterprise Value: $1.4 billion Production: 17,687 Boe/d (1H 2011) YE10 Proved Reserves: 85.1 MMBoe PV-10(5): $1.1 billion @ YE10 SEC Pricing $1.6 billion @ YE10 5-year NYMEX Strip