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                                EXHIBIT 99.1







         Vanguard Energy Corporation Closes Private Placement Financing

Houston, TX -  (Marketwire)--07/6/12--Vanguard  Energy Corporation  (OTCQX:VNGE)
(OTCBB:VNGE),  a Houston,  Texas based oil development  and production  company,
today  announced  that it has  successfully  closed on the private  placement of
$461,000 in principal amount of convertible secured promissory notes.

The notes bear 15% interest  per year,  payable  quarterly.  The notes mature on
June 30,  2015 and are  convertible  into  common  stock at a price of $1.25 per
share.  The offering was presented to a limited  number of accredited  investors
through the Company's  placement agents. The securities have not and will not be
registered  under the  Securities  Act of 1933 and may not be offered or sold in
the United States absent  registration  under the  Securities  Act of 1933 or an
exemption from the registration requirements.

Of the  total  amount  raised,  $3,310,000  represents  new cash  investors  and
$2,600,000  represents  investors  from a  convertible  note  offering  that the
Company  completed in November  2010 who chose to roll their  investment in that
earlier offering into the Company's new offering.

Net  proceeds  from  this   financing  will  be  used  to  fund  an  accelerated
developmental  drilling program in the Company's oil fields located in Southeast
Texas and to pay any convertible notes, which were sold in 2010 and which remain
outstanding on October 31, 2012, the maturity date of the notes.

Safe Harbor

This press release and other  statements  Vanguard Energy may make in the future
contain  forward-looking  statements that relate to Vanguard's plans, objectives
and future estimates. Various risks, uncertainties and other factors could cause
actual results to differ materially from those expressed in any  forward-looking
statements.  For a more  detailed  list of such risks,  uncertainties  and other
factors,  please  refer to the Risk Factor  section of  Vanguard's  Registration
Statement  on Form  S-1 and in its  periodic  filings  with the  Securities  and
Exchange Commission.  Vanguard makes no commitment to update any forward-looking
statement,  or to disclose any facts, events, or circumstances after the date of
this  release  that may affect the  accuracy of any  forward-looking  statement,
except as may be required by applicable law.


Investor Relations Contact:
Brad Holmes
EnergyIR
(713)654-4009
B_holmes@att.net
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