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                                  EXHIBIT 99.1




1330 Post Oak Boulevard, Suite 1600                         (713) 627-2500 (tel)
HOUSTON, TEXAS  77056                                       (713) 963-4663 (fax)

       Vanguard Energy Corporation Announces Expanded Drilling Program and
                          Quarterly Financial Results

For Immediate Release

HOUSTON,  TX - (Market  Wire) - August 14,  2012 - Vanguard  Energy  Corporation
(OTCQX:VNGE),  an oil  development  and  production  company today  announced an
expanded  drilling  program and results of  operations  for its Fiscal Year 2012
third quarter ended June 30, 2012.

The Company has  commenced  drilling on the first of what is planned to be a new
six  well  program  to be  completed  in 2012 in the  Company's  oil  fields  in
southeast  Texas. A drilling rig was moved into position in early August and the
first of these wells was spud on August 8. The Company  plans to drill these new
wells back to back with the same drilling rig and crew in place.

The Company  recently  announced  the  successful  close of initial  stages of a
convertible  debt  offering  raising a total of $6.8  million,  including  $3.05
million of rollovers of existing debt that was due on October 31, 2012.  The new
net cash will be used to fund the drilling of the new wells.

Mr. Warren Dillard,  President and CEO of Vanguard  Energy stated,  "Vanguard is
well  positioned  to enjoy  substantial  growth  over the rest of the year as we
execute our  development  drilling  program with new cash provided by our recent
sales of new convertible notes."

Highlights for the quarterly  fiscal year 2012 third quarter  financial  results
include:

     o    Revenue  from oil and gas sales for the nine  months  ending  June 30,
          2012 was $2,459,575,  an increase of 87% from the previous  nine-month
          period ending June 30, 2011 of $1,314,982.

     o    For the nine  months  ended June 30,  2012 net  income  was  ($56,452)
          compared to ($1,142,935) for the nine months ended June 30, 2011.

     o    Net income (loss) for the quarter was ($328,199)  compared to $270,552
          for the same period of 2011.

     o    The most  recent  nine months and  quarterly  losses are  attributable
          primarily to a non-cash  charge  reflecting a change in the fair value
          of warrant and  conversion  liabilities  of  ($427,162) as required by
          generally accepted accounting principles associated with public market
          prices of the Company's shares.

     o    Shareholder  equity  grew to  $4,189,422  from  $638,648  for the same
          quarter 2011 due to the Company's IPO in Q1 of FY 2012.

     o    The Company produced and sold 11,875 barrels of oil during the quarter
          ending June 30, 2012.


     o    Revenue  from  oil  and  gas  sales  for  the  quarter  was  $851,899.
          Conference call

The Company will host a  conference  call on August 23, 2012 at 10:30 AM Eastern
time  (9:30 CT,  7:30 PT) to  discuss  the  results of  operations  and  provide
additional details on drilling activity. The dial in number for those interested
in participating is (877) 548-9590.  The call will be web cast and can be viewed
on the Company web site at www.vanguardenergy.com.

About Vanguard Energy

Vanguard  Energy  is an oil  drilling  and  production  company  with a focus on
established oil fields in southeast  Texas.  Concentrating  on oil properties in
established  areas with  proven  production,  Vanguard  applies  its  managerial
expertise to maximize  production while minimizing risk.  Vanguard is focused on
creating  shareholder  value by building  cash flow and oil reserves  through an
aggressive,   focused  acquisition  and  development  program  in  the  prolific
southeast Texas oil producing region. Vanguard's initial area of operation is in
the  famous  Batson  Dome  Field  where it  controls  500  strategic  acres with
substantial oil reserves.  For more information  visit the Company's web site at
www.vanguardenergycorp.com

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