Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
SHEPPARD LARRY W
   2. Issuer Name and Ticker or Trading Symbol
VINTAGE PETROLEUM INC [VPI] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Sr.VP - New Ventures
(Last)
(First)
(Middle)
110 WEST SEVENTH STREET, SUITE 2300		 3. Date of Earliest Transaction (Month/Day/Year)
06/16/2005
(Street)

TULSA, OK 74119		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 06/16/2005   M   60,000 A $ 15.5 108,950 D  
Common Stock 06/16/2005   M   55,000 A $ 7.25 163,950 D  
Common Stock 06/16/2005   S   75,700 D $ 29.5 88,250 D  
Common Stock 06/16/2005   S   700 D $ 29.54 87,550 D  
Common Stock 06/16/2005   S   100 D $ 29.55 87,450 D  
Common Stock 06/16/2005   S   8,800 D $ 29.53 78,650 D  
Common Stock 06/16/2005   S   2,300 D $ 29.58 76,350 D  
Common Stock 06/16/2005   S   1,600 D $ 29.62 74,750 D  
Common Stock 06/16/2005   S   200 D $ 29.67 74,550 D  
Common Stock 06/16/2005   S   100 D $ 29.57 74,450 D  
Common Stock               14,731 (1) I 401(k) Plan

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (right to buy) (2) $ 15.5 06/16/2005   M     47,100 03/07/2000 03/06/2007 Common Stock 47,100 $ 0 0 D  
Employee Stock Option (right to buy) (3) $ 15.5 06/16/2005   M     12,900 03/07/2000(4) 03/06/2007 Common Stock 12,900 $ 0 0 D  
Employee Stock Option (right to buy) $ 7.25 06/16/2005   M     55,000 03/16/2002 03/15/2009 Common Stock 55,000 $ 0 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
SHEPPARD LARRY W
110 WEST SEVENTH STREET
SUITE 2300
TULSA, OK 74119		       Sr.VP - New Ventures  

Signatures

 Larry W. Sheppard   06/17/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Information is based on a plan statement dated as of June 16, 2005.
(2) This option was previously reported as covering 23,550 shares at an exercise price of $31.00 per share, but was adjusted to reflect a two-for-one stock split on October 7, 1997.
(3) This option was previously reported as covering 6,450 shares at an exercise price of $31.00 per share, but was adjusted to reflect a two-for-one stock split on October 7, 1997.
(4) This option became exercisable in increments as follows: 6,450 shares beginning March 7, 2000, and 6,450 shares beginning January 1, 2001.

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