Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of Venoco, Inc. (“Venoco” or the “Company”) (NYSE: VQ) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s receipt of a proposal from its Chairman and CEO, Timothy M. Marquez, to acquire the remainder of the Company he does not already own for $12.50 per share in cash (the “Proposal”).

The Proposal contemplates Mr. Marquez’s acquisition of all of the outstanding shares of common stock of Venoco he does not already own for $12.50 per share in cash.  Mr. Marquez already owns approximately 50.3% of the Company’s outstanding common stock.

The investigation concerns whether Venoco’s board of directors is adequately shopping the Company and working to obtain the best price possible for Venoco’s shareholders.  Indeed, according to Yahoo! Finance, at least one analyst has issued a price target for $22.00 per share for Venoco stock.

If you own the common stock of Venoco and purchased your shares before August 29, 2011, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to info@rigrodskylong.com.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

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