Vero Energy Inc. Confirms Receipt of Shareholder Approval For Payment of Cash Distribution

THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY UNITED STATES NEWS SERVICES

CALGARY, March 8, 2012 /CNW/ - Vero Energy Inc. (TSX:VRO) ("Vero" or the "Company") announces that at a meeting held on March 7, 2012, Vero's shareholders approved the payment of the proposed one-time cash distribution to shareholders of $0.30 per common share (the "Cash Distribution").  Accordingly, the Board of Directors of the Corporation has confirmed the payment of the Cash Distribution to be made on or about March 27, 2012 to Vero shareholders of record on March 20, 2012.

Subject to the issuance of a publication by the Toronto Stock Exchange, the common shares of the Corporation will commence trading on an "ex-distribution" basis at the opening of markets on March 16, 2012.

Reader Advisory

This press release contains forward-looking statements and information concerning the anticipated timing of the record, payment and ex-distribution dates in respect of the Cash Distribution.  Readers should not place undue reliance on the forward-looking statements and information contained in this press release.

The forward-looking statements and information contained in this press release are made as of the date hereof and Vero undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The common shares of Vero have not and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold in the United States or to any U.S. person except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws.

Doug Bartole
President & Chief Executive Officer
[phone]

Gerry Gilewicz
Vice-President Finance & Chief Financial Officer
[phone]

Scott Koyich
Investor Relations
[phone]

Internet: www.veroenergy.ca