Vintage Petroleum, Inc. Names Stephenson as President And CEO

TULSA, Okla.--Feb. 18, 2004--Vintage Petroleum, Inc. announced today that effective immediately Charles C. Stephenson, Jr., Chairman of the Board of Directors of Vintage, has been named to the additional position of President and Chief Executive Officer.

Charles Stephenson, 67, succeeds outgoing President and CEO, S. Craig George, who has resigned effective today to pursue other interests. Craig George also resigned as a Director of Vintage.

Stephenson, a co-founder of Vintage, has been a Director since June 1983 and Chairman of the Board of Directors of Vintage since April 1987. He also served as CEO of Vintage from April 1987 to March 1994 and President of the company from June 1983 to May 19, 200490.

Vintage Petroleum is an independent energy company engaged in the acquisition, exploitation, exploration and development of oil and gas properties and the marketing of natural gas and crude oil. Company headquarters are in Tulsa, Oklahoma, and its common shares are traded on the New York Stock Exchange under the symbol VPI. For additional information, visit the company's website at www.vintagepetroleum.com.