Vero Energy Inc. completes equity financing


    CALGARY, May 21 /CNW/ - Vero Energy Inc. ("Vero") (TSX: VRO) is pleased
to announce that it has closed its previously announced equity offering of
4,000,000 common shares at an issue price of $3.75 per share, for total gross
proceeds of $15 million. The financing was completed through an underwriting
syndicate led by GMP Securities L.P. and included FirstEnergy Capital Corp.,
Clarus Securities Inc., Macquarie Capital Markets Canada Ltd., RBC Capital
Markets, CIBC World Markets Inc., Maison Placements Canada Inc., Dundee
Securities Corporation and Paradigm Capital Inc.

    Vero is a publicly traded company with its head office in Calgary and is
engaged in the business of exploring for, developing and producing crude oil
and natural gas and acquiring crude oil and natural gas properties in western
Canada. Please visit our website at for our most recent

    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.

    The Toronto Stock Exchange has neither approved nor disapproved the
    contents of this press release.

    %SEDAR: 00022902E

For further information:

For further information: Doug Bartole, President & Chief Executive
Officer, (403) 218-2063; Gerry Gilewicz, Vice-President Finance & Chief
Financial Officer, (403) 693-3170; Scott Koyich, Investor Relations, (403)

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