Vecta Energy Corporation Files First Quarter Report and Provides Update

Vecta Energy Corporation (TSX VENTURE:VER) has filed its first quarter results
and is please to report a modest profit from operations. Revenues of $153.500
were slightly below the previous year quarter but expenses were considerably
lower, resulting in earnings from operations of $43,500. In addition, the
Company recorded a gain on the sale of assets of $100,000 thus bringing the gain
for the quarter to $143,500. 


Vecta has an overriding royalty interest in two significant gas/liquids wells in
the Harmattan area of west central Alberta and a small working interest in two
gas/liquids wells in the Brewster area. It also has other minor producing
interests in British Columbia. The income from these properties exceeds the
Company's ongoing operating and administrative expenses so modest progress is
being made on reducing outstanding liabilities. The Company sold its only
remaining 320 acre working interest in the Harmattan area and the proceeds were
dedicated to reduction of outstanding liabilities. 


Vecta wishes to advise that it has entered into discussions with a large
financial corporation to undertake a restructuring of its activities. New
financing will be required to achieve such a restructuring and in view of the
current market situation it may take some time to accomplish. As a consequence,
the Company is continuing to seek other alternatives in the event the
restructuring is unreasonably delayed. 


The Directors holding the Company's Secured Loans have agreed to extend the
maturity date and defer interest accruals to October 31, 2012. Two independent
Secured Loan holders did not agree to the extension of the maturity date but
indicate that they plan no action to seek repayment at the present time. 


The Company also advises that it has relocated its offices to 2200, 300 - 5 Ave
SW, Calgary, T2P 3C4. Telephone and email contact information remain unchanged. 


To receive company news releases via e-mail, please advise admin@vectaenergy.com
and specify "Vecta Press Releases" in the subject line.

Vecta Energy Corporation (TSXV:VER)
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