A down hole vibration dampener for dampening vibrations caused by drilling a well bore, the down hole vibration dampener having: a hollow cylindrical housing having a lower connecting extent for connection to one part of a drill string; a splined mandrel extending longitudinally into the cylindrical housing and having an upper connecting extent for connection to another part of a drill string, the splined mandrel having a through bore; a second mandrel section connected to and depending downwardly from the splined mandrel; an upper seal structure located between the splined mandrel and an interior of the cylindrical housing adjacent the upper extent thereof; a floating, movable piston located between the second mandrel section and the interior of the cylindrical housing adjacent a lower extent thereof which, together with the upper seal structure defines a lubricant chamber for the vibration dampener; characterized in that a vibration dampening structure is located in the lubricant chamber which is formed between the interior of the hollow cylindrical housing and the splined mandrel, the vibration dampening structure being compressible longitudinally to absorb vibration and shock loads; the vibration dampening structure is made up of a series of resilient rings formed of a polymeric material which are separated by a series of interspersed metal rings which give the resilient rings support and definition while being subjected to a load and thereby form a vibration dampening column, the column being encased on either of upper and lower opposite ends thereof by metallic end rings; the resilient rings are formed of polyurethane; the metal rings are formed of steel; the polyurethane rings each have a generally planar upper circumferential surface and a generally planar lower circumferential surface at least a selected one of which is provided with a plurality of machined ridges arranged as concentric circles on the selected generally planar surface, the plurality of machined ridges acting as further shock absorbers and to improve the deformation properties of the polyurethane rings; the polyurethane rings are shaped and engineered in such a manner that when the set of polyurethane rings are subjected to a shock load, the metal rings will not touch one another except under maximum load circumstances; and the upper end ring abuts against a shoulder present in the interior of the cylindrical housing and also a shoulder on the splined mandrel, and wherein the lower end ring abuts against an end of the second mandrel section, whereby force is transferred from the splined mandrel to the vibration dampening column while also limiting the amount of movement the splined mandrel and second mandrel section can have relative to the outer cylindrical housing. a hollow cylindrical housing having a lower connecting extent for connection to one part of a drill string; a splined mandrel extending longitudinally into the cylindrical housing and having an upper connecting extent for connection to another part of a drill string, the splined mandrel having a through bore; a second mandrel section connected to and depending downwardly from the splined mandrel; an upper seal structure located between the splined mandrel and an interior of the cylindrical housing adjacent the upper extent thereof; a floating, movable piston located between the second mandrel section and the interior of the cylindrical housing adjacent a lower extent thereof which, together with the upper seal structure defines a lubricant chamber for the vibration dampener; characterized in that a vibration dampening structure is located in the lubricant chamber which is formed between the interior of the hollow cylindrical housing and the splined mandrel, the vibration dampening structure being compressible longitudinally to absorb vibration and shock loads; the vibration dampening structure is made up of a series of resilient rings formed of a polymeric material which are separated by a series of interspersed metal rings which give the resilient rings support and definition while being subjected to a load and thereby form a vibration dampening column, the column being encased on either of upper and lower opposite ends thereof by metallic end rings; the resilient rings are formed of polyurethane; the metal rings are formed of steel; the polyurethane rings each have a generally planar upper circumferential surface and a generally planar lower circumferential surface at least a selected one of which is provided with a plurality of machined ridges arranged as concentric circles on the selected generally planar surface, the plurality of machined ridges acting as further shock absorbers and to improve the deformation properties of the polyurethane rings; the polyurethane rings are shaped and engineered in such a manner that when the set of polyurethane rings are subjected to a shock load, the metal rings will not touch one another except under maximum load circumstances; and the upper end ring abuts against a shoulder present in the interior of the cylindrical housing and also a shoulder on the splined mandrel, and wherein the lower end ring abuts against an end of the second mandrel section, whereby force is transferred from the splined mandrel to the vibration dampening column while also limiting the amount of movement the splined mandrel and second mandrel section can have relative to the outer cylindrical housing.