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VINTAGE PETROLEUM REPORTS COMMON STOCK FILING

 TULSA, Okla., Dec. 29 /PRNewswire/ -- Vintage Petroleum Inc. (NYSE: VPI) today announced it has filed a registration statement with Securities and Exchange Commission concerning the public sale of 3,400,000 shares of its common stock. Of the offered shares, 3,000,000 are being sold by the company and 400,000 by a stockholder.
 Managing underwriters of the offering are Dillon, Read & Co. Inc., Dean Witter Reynolds Inc. and Rauscher Pierce Refsnes, Inc.
 Net proceeds to the company will be used to reduce a portion of the indebtedness incurred to consummate the Company's previously announced agreement to acquire certain oil and gas properties from Atlantic Richfield Company. Closing of such acquisition is anticipated to occur on December 30, 1992.
 Vintage Petroleum is an independent energy company engaged in the acquisition, exploitation and development of oil and gas properties and the marketing of natural gas and crude oil. Company headquarters are in Tulsa, and its common shares are traded on the NYSE under the symbol VPI.
 The registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 A prospectus relating to the proposed offering may be obtained by contacting Dillon, Read & Co. Inc., 535 Madison Avenue, New York, New York, 10022, Attention: Prospectus Department.
 -0- 12/29/92
 /CONTACT: William C. Barnes, senior vice president and chief financial officer of Vintage Petroleum, 918-592-0101/
 (VPI)


CO: Vintage Petroleum Inc. ST: Oklahoma IN: OIL SU:

TM -- SF004 -- 0400 12/29/92 16:09 EST
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Publication:PR Newswire
Date:Dec 29, 1992
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