Vanco and Aker Geo Launch 3D Survey Offshore Namibia

HOUSTON - June 20, 2000 Vanco Energy Company of Houston and Aker Geo of Oslo have launched a 3D survey offshore Namibia in the frontier region of the Namibe Basin. Yesterday, Aker Geo’s super class 3D vessel, the Aker Amadeus, departed the port of Walvis Bay to begin a one-month survey of Vanco’s License Area 1711. The license area is situated in the northern region of Namibia next to the southern border of Angola.

The Vanco/Aker Geo survey will cover 650 square kilometers of Vanco’s 8,931-square-kilometer license area. Vanco was awarded License Area 1711 on June 14, 2000. Vanco, as operator (88%), shares interest with The National Petroleum Corporation of Namibia (Namcor) (9%) and Pamue Investment Corporation (3%). Existing 2D seismic shows at least one large structure, probably Cretaceous in age. “Normally we would shoot 2D seismic first, as we have in the past with our acreage offshore Gabon, Morocco, Senegal, and Côte d’Ivoire,” says Vanco President Gene Van Dyke. “But, based on the considerable speculative 2D seismic we have purchased, we are going straight to 3D.”

Vanco Energy Company is a Houston-based independent oil and gas company specializing in exploring and developing West Africa’s deep water. In addition to Namibia, Vanco has licenses offshore Morocco, Senegal, Côte d’Ivoire, Equatorial Guinea, and Gabon.

Contact: Janice Walden, Director of Public Relations, Vanco Energy Company: jwalden@vancoenergy.com , 713-877-8544

Klaus Endresen, General Manager, Vanco Namibia: klendre.bridge@iwwn.com.na tel. + 264 61 230526, fax + 264 61 230528