Vecta Energy Corporation Announces Signing of Exshaw/Bakken Joint Venture Agreement

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Vecta Energy Corporation (TSX VENTURE:VER) ("Vecta" or the "Company") is pleased
to announce that it has signed a Joint Venture Agreement (the "JV Agreement")
with Vecta Oil & Gas, Ltd. ("VOG"), of Dallas, Texas to participate in an
Exshaw/Bakken light oil resource play in north central Montana. The joint
venture (the "JV") positions Vecta as a key player among the leaders in the
emerging Alberta Bakken play. The transaction is expected to close on or about
April 8, 2011, subject to the terms and conditions set forth in the JV
Agreement.


Vecta is also pleased to announce that it has entered into an engagement letter
with Wellington West Capital Markets Inc. ("Wellington"), pursuant to which
Vecta will issue subscription receipts, by way of a short form prospectus
offering (the "Offering"), with Wellington acting as the sole agent on a
"commercially reasonable best efforts" basis, for gross proceeds of at least $32
million to participate in and to meet work commitments associated with the JV
and for general corporate purposes. Vecta has filed a preliminary prospectus
with the securities regulatory authorities in all of the provinces of Canada
(except Quebec) in connection with the Offering. The filed preliminary
prospectus will be available for review at www.sedar.com under the Vecta
listing. When the Company has met certain release conditions, the proceeds of
the Offering will be released to the Company and each Subscription Receipt will
be automatically converted into one common share of the Company. The issue price
of the subscription receipts will be determined in the context of the market and
the Offering is subject to certain conditions including, but not limited to, the
execution of a definitive agency agreement with Wellington and the receipt of
regulatory and exchange approvals. The closing date of the Offering is expected
to be on or about March 31, 2011.


The securities offered have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the United
States absent registration or applicable exemption from the registration
requirements. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful.


Additional information is available on SEDAR at www.sedar.com. The Company has
also posted an updated presentation on its website at www.vectaenergy.com.


JOINT VENTURE

The objective of the JV Agreement is to combine technical and financial
expertise to pursue the prospective Exshaw/Bakken oil resource play and
additional high potential objectives in the Sweetgrass Arch area of north
central Montana. Under the terms of the JV Agreement, Vecta will make a capital
contribution of US$27.0 million to initially evaluate the play, including the
drilling of 2-4 vertical wells and 3-4 horizontal wells (the "Evaluation
Phase"), and VOG will assign more than 112,000 net acres (approximately 175
sections) of leasehold and other development rights to the JV within Pondera,
Glacier and Toole Counties of Montana (the "Project Area"). Additional leasehold
is also being acquired by VOG that is expected to augment the land position
assignable to the JV at closing. Vecta and VOG both hold a 50% interest in the
JV.


The Evaluation Phase includes payment of a leasehold equalization fee to VOG;
multiple seismic programs within the Project Area, including the acquisition of
proprietary multicomponent (9C) seismic; the drilling of two to four vertical
test wells, and the drilling of a minimum of two or more horizontal test wells.
The Evaluation Phase is scheduled to commence shortly after closing.


Vecta will manage all financial and administrative functions for the JV from its
Calgary office and VOG will be responsible for operations, including all
engineering, land, geological and geophysical functions in the evaluation and
development of the Project Area. An Operating Committee consisting of members
appointed by Vecta and VOG will govern the JV. "We believe this relationship
will allow the partners to achieve a level of success that would be unattainable
by either acting independently. The synergies created through this JV will
facilitate the most effective development of the acreage position amassed by
VOG. Vecta shareholders will be the beneficiaries of this creative venture for
many years to come as the JV seeks to crystallize the upside potential under
these lands. The structure of the JV will allow Vecta to acquire and test the
multiple play concepts at an aggregate cost that is substantially less than the
capital being exposed for acquisition of leasehold in other areas of the play,"
said Tom Coffman, President and Chief Executive Officer of Vecta.


"A key element of the JV is the multi-zone potential of the Exshaw/Bakken,
Banff, Lodgepole and Three Forks formations. Additional conventional plays exist
in the Bow Island, Sunburst, Cutbank, Swift, Sawtooth, Mission Canyon, and Nisku
formations, many of which have not been fully exploited in the Sweetgrass Arch,
and certainly not with the state-of-the-art multi-component seismic which is
available exclusively to the JV," said Tom Coffman, President and Chief
Executive Officer of Vecta.


A unique opportunity also exists on the JV lands for an abundant CO2 source in
the Duperow formation. Vecta has obtained an independent audit of its CO2
resource potential from Sproule U.S. Limited, which confirmed Vecta's estimates
(P50) of 260 Bcf of C02 net to Vecta.


VECTA OIL AND GAS, LTD.

Vecta Oil & Gas Ltd. is an oil and gas exploration company that employs a
patented suite of technologies that permit Full Vector Wave Form Seismic (9C-3D)
to be more robustly acquired and processed, interpreted and related to
geological exploration and development objectives. 9C-3D seismic is the most
rigorous form of multi-component seismic acquisition with the richest
information content. 9C-3D seismology has been successfully applied in West
Texas, southeast Colorado, North Dakota and Western Alberta in both clastic and
carbonate environments. VOG has developed expertise in the management of all
aspects of 9C data analysis, emphasizing the rigorous integration of
acquisition, processing and interpretation with geological concepts, and has
made several oil and gas discoveries based on its proprietary analysis of 9C
data.


VOG TEAM

The VOG team is comprised of the following individuals who bring world-class
industry experience to the JV:


Mr. John Beecherl, B.Sc., Chairman and CEO, brings over 30 years' experience in
multiple aspects of the energy business. Over his career, he co-founded a
variety of private family companies within the drilling and operations side of
the oil business as well as mineral and royalty acquisition interests. Mr.
Beecherl co-founded Vecta Oil & Gas to develop intellectual property rights and
exploration techniques for the direct use of full vector wave form seismic in
finding and developing oil and gas. He graduated from the University of Texas at
Austin with a B.Sc., Petroleum Engineering in 1980.


Bryan DeVault, Ph.D. (Geophysics), J.D., President, presides over a team of
explorationists and supervises research and development initiatives in 9C
seismic and prospects in several of VOG's ongoing exploration plays. Dr. DeVault
has participated in international exploration assignments in the Netherlands and
UK Southern North Sea gas basin and domestic projects where he was involved in
several significant oil and gas discoveries in the Eastern and Central Gulf of
Mexico. Dr. DeVault obtained his Ph.D. in geophysics from the Colorado School of
Mines in 1998 followed by a J.D. from the University of Michigan in 1993 and a
B.Sc. in Mathematics and a B.Sc. in Physics at the University of Houston in
1990.


Mr. Herb Mosca, B.Sc., Geology, VP Exploration has over 33 years' experience
generating, reviewing and operating exploration projects. Mr. Mosca has
evaluated the technical and economic merits of new projects in the Cook Inlet,
Peru and Brazil. As Manager of North American Operations for a major independent
company he was responsible for exploration and development plays in the Hardeman
Basin, the Paradox Basin; waterflood unit in the Permian Basin, Williston Basin,
Texas Gulf Coast and South Louisiana. Mr. Mosca obtained his B.Sc. Geology from
Southern Methodist University in Dallas in 1977.


David Bowen, Ph.D. (Geology) is VOG's Chief Geologist, specializing in the
integration of stratigraphy, sedimentology, reservoir characterization and
petroleum systems with advanced geophysical methods for oil and gas exploration
and exploitation. Dr. Bowen has 30 years of industry experience as an
independent geologist and consultant. His exploration track record includes most
notably finding and developing significant reserves in the Morrow play of
eastern Colorado and the Almond play of the Green River Basin and has consulted
on projects throughout the U.S. and internationally. Dr. Bowen earned his Ph.D.
from the University of Colorado in 2001 where his dissertation topic was the
reservoir geology of incised valley-fill sandstones. He received his M.S. in
Geology at Montana State University in 1980 where he continues as an Affiliate
Professor.


Mr. Richard Pate, B.Sc., Engineering is the VP Operations with over 33 years of
experience in senior engineering and management levels. Mr. Pate brings
extensive experience in implementation and management of start-up and large
development programs through innovative use of technology and effective team
leadership. Mr. Pate has had responsibility for all operations and engineering
aspects of exploration and development projects in the Rocky Mountain Region
where he developed horizontal drilling and completion strategies for
exploitation of the Sussex and Niobrara formations. Mr. Pate holds a B.Sc.,
Chemical Engineering from the University of Wyoming.


Mr. Jim Bob Byrd, VP Land, brings more than 30 years of oil and gas experience
to the venture. Mr. Byrd has successfully assembled a significant land base for
the JV in a very competitive and complex play area. Mr. Byrd is experienced in
the planning and execution of multi-rig/well drilling programs in numerous
basins and has successfully completed acquisitions and divestitures of producing
properties and exploration projects throughout the U.S. Mr. Byrd is skilled at
negotiating and drafting exploration, development, operations, mid-stream and
down-stream agreements; property and lease acquisition and other related
agreements. Mr. Byrd received his Bachelor of Arts degree from Baylor University
in 1982.


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and specify "Vecta Press Releases" in the subject line.


This news release contains forward-looking statements relating to the Company's
plans and other aspects of the Company's anticipated future operations,
strategies, financial and operating results and business opportunities. In
particular, but without limiting the foregoing, this press release contains
statements regarding the anticipated closing date of the JV Agreement and the
Offering and the anticipated use of the net proceeds of the Offering.
Forward-looking statements typically use words such as "anticipate", "believe",
"project", "expect", "plan", "intent" or similar words suggesting future
outcomes, statements that actions, events or conditions "may", "would", "could"
or "will" be taken or occur in the future, or consists of statements regarding
estimates of future production, operating costs or other expectations, beliefs,
plans, objectives, assumptions or statements about future events or performance.
Statements regarding reserves are also forward-looking statements, as they
reflect estimates as to the expectation that the deposits can be economically
exploited in the future.


Although the Company believes that the expectations represented in such
forward-looking statements are reasonable, there can be no assurance that such
expectations will prove to be correct. As a consequence, actual results may
differ materially from those anticipated in the forward-looking statements and
you should not unduly rely on forward-looking statements. The forward-looking
statements contained in this news release are made as the date of this news
release and the Company does not undertake any obligation to update publicly or
to revise any of the included forward-looking statements, whether as a result of
new information, future events or otherwise, except as may be required by
applicable securities laws.
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