Here's what KBC had to say about them.

http://www.kbcpeelhunt.com/pdfs/Oil04Mar05.pdf

Venture is by a margin the cheapest of the North Sea focused E&P
companies in terms of its forward cash flow multiple. With key new
gas field development seeming to be on track, the production base
will get not only an anticipated strong addition from March but will
also derive improved asset diversity. The company has so far
significantly under-delivered in financial terms and improved market
confidence and rising profitability could make this a strong
performer in 2005.
While Venture has generally managed its primary North Sea
production and development business competently, and field
performance, with the exception of Sycamore, has been up to
expectations, the financial performance has been undermined by
events. However, delivery of the key new field developments seems
to be on track and the company should more than double production
capacity to over 45,000 barrels of oil equivalent by the end of 2005
and should achieve on average at least 30,000 boe/d in the year.
The misfortunes continued on Sycamore, with an injector well
apparently not communicating with the intended reservoir section.
This caused the company to reduce 2005 production guidance by
about 1,500 b/d to 31.0-33.0 kboe/d.
The development programme under way continues through 2006
giving a further year or two of growth in the production profile from
within the existing reserve inventory. The company therefore has
time to seek further development opportunities either within its
existing licences or by acquiring or licensing new assets.
The stock is trading close to our Core NAV estimate but is on a lower
prospective multiple of earnings (2005 PE of 7) and cash flow (P:CF
of 2.3) than any other E&P stock. The appointment of a new FD
relieves CEO Mike Wagstaff of his multiple responsibilities, which
should improve confidence in delivery.
With 50% of estimated production in 2005-2008 in the form of natural
gas, Venture offers direct exposure to the UK gas price. Moreover,
the reliability issues that have dogged the company have been in its
oil rather than gas operations.

Venture Production Provide Operations Update

Wednesday, March 23, 2005



Production
Production from the Birch, Larch and Sycamore (Trees) fields was shut-in on the 27th November following a gas leak in a 4 service line beneath the Marathon operated Brae Alpha platform. Investigative work has been completed, the problem identified and a solution implemented that enabled production from Trees to recommence on 4th February 2005.
During 2004 Ventures average production increased by 26.5% to 16,832 boepd, up from 13,310 boepd in 2003. This increase primarily resulted from a full years contribution from additional interests in Audrey, Kittiwake and Mallard fields, which were acquired in late 2003, and one months contribution from the additional interest in the Trees fields, acquired during October 2004.
The deferral of production caused by the Trees shut-in reduced the average annual production rate for 2004 by 1,200 boepd. In addition, the annual average gas production rate from the A Fields was approximately 650 boepd lower than had been anticipated due to the Audrey well rejuvenation activity carried out in the second half of the year and the requirement to shut-in wells during the Annabel tie-in construction programme. This small deferral of our gas production was required to ensure the timely development of our Southern North Sea gas business hub.
The re-started Trees production will be running at around 90% of its productive capacity while Venture re-establishes high pressure gas lift to Larch over the coming months in order to restore the field to full production.

Development Operations
Activity in Ventures A Fields is currently centred on the development of the Annabel field and we remain on track to deliver first gas from Annabel in March 2005. Despite some of the worst winter weather for 30 years in the North Sea, laying of the pipeline and control lines between Annabel and Audrey has been successfully completed and activity is now focused on the Annabel tie-in work on the Audrey platform. As part of the Annabel project we have also successfully established the long-term integrity of the Audrey to LOGGS gas pipeline and thereby confirmed the potential for additional tie-back projects over the Audrey facilities.
Production from the Audrey field has been enhanced by a successful five-well intervention/workover campaign that was completed in the second half of 2004. Once Annabel is on stream we expect to reap the full rewards of this rejuvenation work on Audrey.
At the current time Venture continues to operate well 16/12-25 (SW-1), the first of two Central Sycamore water injection wells. The well has penetrated the reservoir section but has proven not to be in communication with the SP-3 producer. As a result, this well is currently being suspended for future re-use. Venture intends to drill the second water injection well (SW-2) on Sycamore later in the year but the impact of the SW-1 disappointment is to reduce projected 2005 average production by between 1,500 and 2,000 boepd.
Offsetting this, significant progress has been made in bringing forward the final phase of the Sycamore project, the development of South Sycamore. In addition to our existing Brae commercial agreements, Venture has recently entered into an agreement with Canadian Natural Resources, the operator of the Tiffany platform immediately south of the Trees fields, to drill the South Sycamore production well from the Tiffany platform. This represents a significant cost and timing improvement over the originally envisaged sub-sea development and tie-back of this part of Trees. The new agreement will enable Venture to accelerate production start-up from South Sycamore into 2005 while reducing the well and tie-in costs. Importantly, this will also diversify future Sycamore production via two export routes rather than solely across the Brae Alpha platform.
Recent activity in the Greater Kittiwake Area (GKA) has been centred on the Gadwall field development. Gadwall is being developed via a single production well tied back to Kittiwake through the Mallard sub-sea facilities with a water injection well planned for the second half of 2005. Venture has successfully completed the sub-sea construction work and the Transocean 704 rig will complete the well following operations in the Trees Fields. We anticipate first oil from Gadwall during April 2005.

Corporate Activity
2004 represented a transition year for Venture as the company absorbed new assets and worked towards securing significant near-term production increases. Financial results for the year will be affected by the higher unit production costs resulting from the acquisition of Audrey and GKA and also by the hedging programme we put in place a year ago to secure continuity of their development activity. However, during 2005, as production volumes grow, Venture expect a material reduction in unit operating costs toward long-term target levels.
During 2004 development activity in Trinidad remained on hold pending the results of an anticipated change in the oil and gas production tax regime. This did not materialise and, as a result, Venture continues to review strategic options for its Trinidadian operations. The conclusions of this review will be implemented in the first half of 2005 and, whilst uncertainty remains, it is possible that there will be an adjustment to the carrying value of these assets.

Reserves
At the end of 2004, Ventures total proven and probable reserves had risen by 33% to approximately 124 MMboe representing a total reserve replacement ratio of just over 600%. Of the reserve additions, 58% resulted from net upward revisions with the remainder coming from acquisitions.

Recent analysts forecasts for 2005 are 42 and 43p or around a PE of 6.5

Jam tomorrow?

Venture Production steps up spending to boost output, restore profit
AFX


LONDON (AFX) - Venture Production PLC is boosting spending in the North Sea in an attempt to significantly lift production and restore profitability.

It will invest another 165 mln stg in 2005, 65 pct higher than previous year's budget of 100 mln stg.

'We've got a two-year development drilling programme ahead of us that will help sustain growth in earnings and production,' chief executive Mike Wagstaff told reporters in a conference call.

Funds to support these plans will be internally generated, he added.

Venture is aiming to double average production in 2005 to 34,000 barrels of oil equivalent per day, with the year-end level seen hitting 45,000 boepd.

Improved production, combined with soaring oil and gas prices, will support Venture's goal to return to profits in 2005.

'We expect to be profitable this year,' both on a net and pretax levels, Wagstaff said.

Venture plunged into a net loss of 5.5 mln stg in 2004, as against a profit of 13.7 mln previously, after a 18 mln stg one-off charge relating to its exit from Trinidad and increased costs at Audrey and Kittiwake fields in the North Sea.

Pretax loss reached 318,000 stg, as against a profit of 23.4 mln last time.

Costs at Audrey and Kittiwake should fall this year following facility upgrade that will help drive output in the coming months, said Wagstaff.

In 2004, the Greater Kittiwake Area produced about 1,946 boepd, net to Venture. Audrey, which it now owns 100 pct, flowed about 4,045 boepd.

In Trinidad, Wagstaff said talks with the buyer of the group's assets there are in advanced stages and an agreement could be reached in the 'next few weeks.'

Venture's five fields in Trinidad produced about 1,218 boepd in 2004, accounting for 7 pct of the total.

Venture remains acquisitive, though a potential deal won't be a factor in this year's production target.

It uses an oil price assumption of 'below 20 usd' barrel in its investment plans and acquisitions.

'That oil price is the basis of our long-term planning and we are not about to change that,' he stressed.

Venture's proved and probable reserves grew 33 pct to 124.9 mln barrels at end-2004, partly due to acquisitions, while reserves replacement ratio soared to over 600 pct.

Brianboru,

Looks like your all alone on this one!

I sold out at 201p last September; regrettably took the advise of my broker!!

A great stock; may rebuy when the price calms down.


(What an Irish king would call hidden treasure)

Might have a jump this morning. Fairly positive comment both in the FT (Lex) and Questor. I may add if the price doesn't move up too much.



Numis analyst Andrew Whittock, who has a target price of 360p on the stock, said: "Theres certainly more to come - production is really taking off this year and I expect it to rise significantly in 2006.

"http://thescotsman.scotsman.com/business.cfm?id=383662005

I managed to buy under 3.00 but once again my trade hasn't shown up on the market. I used TDWaterhouse and this is the 4th time recently that buys or sells have failed to show. Does anyone know why?

Report by Peel Hunt showing NAV of 4.60 @$40 oil

http://www.kbcpeelhunt.com/pdfs/mmeetings/NEOilPrices13Apr05.pdf

Seems it's being picked up by someone - I'm now out of Andarco, Shell, Total and into this oily only - bit of a gamble but ....

brianboru

u are not alone on this one, I also own these

consesus forecast for 05 is 40p eps
rising for 06 to 108 eps

numis says 46p for 05 rising to 142p for 06

This would put company on pe of less than 3
Venture are aiming for 60,00 boepd plenty of developments this year =
news flow also hedging policy will have less of a drag on earnings
could be an exciting ride
best of luck

On target for 2005/6 and looking good!!!

dikytree.

updated eps profit forecasts

2005 consensus 43.40

2006 consensus 93.00

bottom of range 65.67 top of range 99.20. 109.00 138.60

with the recent purchase of more assests pushing the companies production further into the future, plenty more to go for

statement copied from the Scotsman

Chief executive Mike Wagstaff said current output was at 40,000 barrels a day, but he hoped to add 12,000- 36,000 to that by the end of the year.

He said: "We have six wells coming on stream later in 2005, all expected to pump 2,000-6,000 barrels."

o1lman

http://miranda.hemscott.com/servlet/HsPublic?context=ir.access.jsp&ir_client_id=4360&ir_option=FORECASTS&nav=financial_info&d=1

Earnings forecasts.

Brian, o1lman,

Someone just pointed this stock out to me on the Financebb, and I have to say it looks VERY undrvalued, to say the least!

The plus points are (IMHO) the current (and certainly ongoing) high price of UK gas, the increasing levels of (presumably) unhedged production, and the prospect of significantly higher (unhedged) production by year end if the 6 prospects come to fruition as expected.

The negative point is clearly the hedge, and the fact they are selling at such a cheap price when the international price is far higher.

Do either of you know off the top of your head what the current hedged production is for this year please?

And is all additional production free of the hedge, ie are they selling their new production at full UK prices?

If your'e not sure, I'm happy to contact the company for clarification.

this looks like it's not on the radar screens...yet!!!

worth a punt i reckon, plenty of upside coming next year!!!

i can't see gas prices coming down anywhere soon, can you???

Hi Brianboru
been watching this one since 6th june
up 26%to date, Bump today included.
Has winner written all over it.
Good luck, i will be on board shortly market willing.
regards
HUSTLER

Another positive day.

I would like to find out how much of the current production is hedged, and whether any that comes online now is hedge free.

I guess i'm going to have to ring and find out if nobody here knows.

Ring who you like Andy.
The market is saying Buy,
no logic required.
I missed the first buy signal like a fool
and already behind the game.
All the best
HUSTLER

Hi Andy,
Afraid I've not much idea of their current hedging position, which no doubt changes regularly as one hedge unwinds and another is bought.
Hope you do manage to get some info from them.

bb

Somewhere I have read that hedging is reducing rapidly to around 10/15% of production - not sure what the source was. According to Citywire article this week, hedging last year lowered the average price achieved pb to $24.88 (equivalent 14.88) with avg 16832 boepd. I guess they needed price certainty to secure funds for capex etc. With hedging substantially removed, and average Q2 production about double last year, revenues should quadruple, or more.

Citywire also mentioned average life cost per barrel, and suggested that these will fall due to economies of scale - last year, they were 6.59 pb. It does not take much imagination to see that the margin on production over last year is growing substantially! Any wonder why the stock is up from 2 to 4? Then I compare to other oil explorers (who IMO carry greater risk of abortive wells), and some expect relatively modest production growth next year (see Burren for instance). I do not have a crystal ball, but VPC p/e on today's production looks too low, the forward p/e looks far too low, and then the share price should factor in some premium for growth in future years. Yesterday, the target 55-60k boepd by 2007 was reaffirmed. I failed to see much problem with yesterday's announcement on minor drilling delays. If the oil and gas prices hold up (or indeed strengthen going into the winter), then the outlook on earnings is encouraging.

Numis's latest guess at forward earnings on 27.7.05 provides estimated eps of 56.9p for year to 12/05, rising to 169.7p next year. At 400p, thats a p/e of 7 falling to less than 3.


Edit - It's now 432 and may have broken out upwards again.

this is looking promising, may buy a few...

http://www.newratings.com/analyst_news/article_946773.html

Venture Production (VPC.LN) +5.0% at 456.5p, extending last week's gains amid continuing high oil prices but no stock-specific news, notes analyst. But says "oil price is higher than most expected even 12-18 months ago. There has got to be an increasing chance of consolidation." Believes those companies with production and reserves are most likely to become targets. Cites Venture, Tullow (TLW.DB), Cairn (CNE.LN) as candidates. "It will only take one bid at high valuations for the whole sector to see a rerating." (PBA)


Volume high and increasing in the last month!

Venture Production: BUY Highly competent operational management and improved asset diversity has led to a re-rating of this stock which is still continuing. Equal exposure to UK gas prices as well as oil.

http://www.kbcpeelhunt.com/pdfs/mmeetings/NEOilGas9Aug05.pdf

This one's a goodun !!!
Couldn't resist a few today at 481p after the Peel Hunt tome.
Not so sure about Oilexco - a bit more risky.

Quiet thread ,,exciting share... I got in to these a couple of days ago when they dropped, they have had a good write up in the TMI recently, are you lot still holding ???

I'm still in there (indeed picked up a few more at 454p last week).
It is a goodun and, assuming the oil price doesn't collapse, they will be making exceptional profits for the next few years.

Burren is also attractive after the big correction last week.

Cheers supermono , don't see the oil price going south at the moment, your right Burren is looking worth a punt .

I've reduced my holding by half it's value and tied some profits in.

Will increase again if it looks right.

Last few days have been good,,over 5 now ,reading the figures in TMI they look good to carry on up,,Cheers JB..

Hi Jimmy again, just replied on Neteller thread
had this one in investaquest
with bonus, gutted went from 9th to 12 on final day
waiting for verified positions but think i have just missed
the finals time will telll
however put a wedge on this one for real today
miles left to go i still think.
All the best
HUSTLER

Seems like good news and ahead of schedule too!


RNS Number:0318R
Venture Production PLC
09 September 2005

First Gas From Saturn Field

Venture Production plc ("Venture"), the Aberdeen based UK independent oil and gas production company, today announces that first gas has been delivered from the ConocoPhillips operated Saturn field. The field is located in UKCS Blocks 48/10a and 48/10b and Venture holds a 22% working interest in the Saturn development.

Saturn has been developed via a six slot normally unmanned platform operated by ConocoPhillips and is tied directly into the LOGGS gathering and export pipeline system, which terminates onshore at Theddlethorpe. First gas has been delivered well ahead of plan, which under the original schedule envisaged start-up during Q4 2005. A phased drilling programme is in place that is expected to deliver a peak gross production rate of 170 million standard cubic feet per day ("MMscfpd") during 2006 from a total of three wells. Once stabilised, initial gross production rates from the first Saturn well are expected to be around 75 MMscfpd. Venture's share of this initial production will be 16.5 MMscfpd and Saturn will be a material contribution to Venture's anticipated average net production rate of between 140 and 150 MMscfpd during the upcoming winter months.

Commenting on the news, Mike Wagstaff, Chief Executive said:

"We are delighted to be able to announce early delivery of first gas from Saturn and to congratulate the operator ConocoPhillips on successful management of a key Southern North Sea gas development. Following on from the start-up of our Annabel field in early April, this latest successful development has increased Venture's access to one of the largest pools of undeveloped gas in the Southern North Sea at a time when the UK gas market is increasingly attractive for producers."

Hopefully this will bump start the SP again.Good News.

Great news today and just the best possible..

I am glad I got in yesterday.EPS growth is excellent for the next two years. With the latest news we might get some newspaper recommendation over the weekend. This could be another CNE.

An interesting article about future oil price.
http://www.bloomberg.com/apps/news?pid=10000082&sid=aWJgsbCFqveY&refer=canada

Venture(VPC) have issued a Trading Update this morning...

http://www.companyannouncements.net/cgi-bin/articles/200512130700285492V.html

The South Sycamore production well (SP-4) (Venture 100%) was successfully brought on stream on 10th December at an initial average rate of over 9,000 boepd.

The central Sycamore water injector well (SW-2) (Venture 100%) was completed in early November and awaits final sub-sea tie-in. As anticipated, the level of depletion encountered suggests there is good reservoir connectivity with the SP-2 production well.

Commercial terms have been agreed with CNR to cover the drilling of the Ash exploration well (Venture 100%), again utilising the Tiffany platform drilling rig. This well is expected to spud during the second half of 2006. Being a platform well, if successful, it could be completed as a producer and brought on stream immediately

Greter Kittiwake

Following the successful introduction of water injection support to the reservoir, the Mallard field (Venture 50%)

Telegraph share of the year

Vanture is tipped as on of their share of the year in the daily Telegraph.
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/01/02/cctips02.xml&sSheet=/money/2006/01/02/ixcity.html

I would expect a 10p rise tomorrow thanks to the Telegraph.

Since the Telegraph tip..Share of the Year...the share price has increased from 500p to 620p thats a 25% rise in one month.. not bad.

can the rise continue, quiet thread for a well preforming oil stock!

Kivver:

Expect the sp to hit 700p in the short term as more Institutions get on board when they realise just hoe cheap the share is going forward over the next 12 months..

well done mitzy seemed you were one a few to get in early. i dont know,, with vpc, chp and tag it could be a make or break couple of months.

ps i used to have a jack russell called mitzy and she lived to be a ripe old age, good ohem perhaps, lol.

Still one of the cheapest out there Kivver
rise in eps forecast for next year is still huge
and way above current year with a p/e
forecast around 6 load up,
even if the price per drum falls this
is still being given away.
All the best
HUSTLER

IM have put out another buy recommendation - they say production is likely to beat the 40-42K target which has deliberately been set low. Venture are aiming for 70-80 K and a doubling in size by 2008/09.

rgrds
gk

Been a great share for me buying at 450p and hopefully will rise to 1000p end of the year when the Iran nuclear issue will be solved.
Kivver: hope its a good omen having a dog named after me..!

Moving up slowly today and a new high for the year.

RNS just out re Institutional holdings..

Approaching the key 700p level could be tomorrow or in a couple of days and with the results fast approaching could be a good idea to add some more before they spike upwards towards the 900p target.

this one is still cheap as chips
but watch all your holdings
the grim reaper is coming the market
does not go up for ever correction time
is not far away may only be a reminder
but it will happen
be lucky

sort of agree, some say we could be 4 yearsinto a 10 year bull run concerning oil and mining, vpc looks one of the best and i wish i had noted it some time ago. You lot that got in early well done and well spotted.

Greatfinish to the day and through the 700p barrier.. roll on 900p..!

I'm never wrong..

A good day for olis today.. Burren, Dana and Sterling all higher.
2/3 years down the line we should see a sp double or treble of that today, say a 1500p to 2000p target range.
A p/e of 7 for this year is just far too cheap.

Great start to the day and with oil breaking $70 a barrel the prospects for Venture are getting better every day.

Oils having another great day with the price of a barrel approaching $75 its a shame Venture have hedged at lower levels than this but the future is still bright and when the Iran conflict starts on the 18 th Dec 2006 you can guess that the price of oil will touch $100.

So does anyone think it is still a good time to get in on this one or do you think with the current Oil prices its too late? Please advise

cant agree, we need to look for higher oil prices, thats when greed starts to overtake. and ok we might make something on oil based shares but we will all lose out elsewhere. higher oil prices could have a devasting effect on the economy and therefore the markets. I like this company and hope it does well on its own merits and not the misfortune of others!!!

I bought some more at 750p this morning frank....my target price is 1000p plus by end of the year so theres still 40% to go.

Thanks Mitzy am going to ad to my portfolio right now. I also have some shares in AQP. do you know anything about this one please tell me what you think? Thanks again.

Hi Mitzy
would agree with your target, but if anything a bit low
growth forecast at over 100% next year
giving a forward p/e of around 7
this is mega cheap, add in the partnership news today
and the fact oil is in the limelight this one still deserves to
be rerated a lot closer to it's peers.
all the best
HUSTLER

Hi frank:
Have a position in AQP bought at 470p and have added recently...I like both VPC and AQP very similar charts and 1000p targets year end... two of my current favorites.. cheers.

Another great start to the week and results out this week the share should propel to 900p.

brilliant results yet shaky market sees VPC down 6% ???
surely an opportunity to make some easy money!!!

well guys i told you about this one at 8.52am (post 61) and it has gone up 5% since then.
still time to get in though as results this morning are very very good.

I saw a couple of people mentioning AQP. Well done. My mum bought this one at a cheaper price and is sitting on good profits. It's come back from 900 but the chart looks good, platinum's at all time highs, AQP is one of the biggest platinum firms in the world I think. Check out their website. It's a share that rarely gets mentioned and does something boring so it stays under the spotlight but i think it's great.

Whats it got to do with VPC?

I'll tell you what its got to do with VPC. Someone asked about 5 posts ago if anyone had any information about AQP. And someone else then mentioned them too. I'm answering this person's post. If you go onto "earlier posts" you will see the initial enquiry. Although I hold VPC too and think it's very exciting.

Thanks alot mitzy thats a big help

thanks to you too Saintserf

Your welcome. According to this week's shares, it's the 5th biggest platinum company in the world. It has had a pretty steep rise lately. However, lonmar, other platinum firm has been upgraded this week and has risen well. Sorry Andy if I was a bit aggressive, vpc's a great company.

and getting back to VPC, do investors see much upside from here???

Kivver,
One analyst (name escapes me) has forecast EPS of 113 for VPC this year. In my view this is almost certainly too low, but taking it at face value it puts VPC on a forecast PE of just 6.9 for 2006 and something even sillier for 2007. In my view we have at least 50% upside from here before the year end and even then the shares would still not look expensive. 12 by year end is my target.

that would be great, looks like it may be best to stock up with some more!!

The way oil stocks are moving today theres almost a buying frenzy....1000p is my target but I'm hoping for another 50% on top.

Appointment of UBS as a joint broker appears to have stirred up the rumours of a link up with DNX again

A merger, or who would be taking over who?

great share to hold and 1200p remains my target although the analysts might not agree but who cares.

UBS have a target of 1010p and I agree could be a link up with Dana in a time ahead.

very happy to be in this one, it looks a corker!!!

It certainly is Kivver worth holding for further sp gains in 2007..

that 1010p target from UBS is getting closer by the day..

Have held these shares from 2.28p and I don't instead to sell them at all. The only way I won't hold these shares is if they get taken over...these are for my pension which is 27 years away (by which time this will be a sizeable ftse 100 stock). As Buffett says if you can't hold them don't buy them.

ALL IN MY HUMBLE OPINION.

tipped by uk-analysist, mostly positive though advises to show some caution.

could explain this mornings rise then..

venture said today
its now the largest uk gas producer,or soon will be,
must make them a likely takeover target

.

My target is 1500p to 2000p within 2 years unless they get bid for by the Russians.

Or the Indians, or even Dana. I think that there could be quite a few interested parties.

I agree they are a sitting duck even from the Chinese I wonder if they will announce a special dividend in the near future.

I did read somewhere about a possible 1 per share special dividend, but I think that this was just speculation and wishful thinking. With all that cash coming in and such strong earnings I think that we are due something.

I agree..

Aye...

DITTO, its nice when a plan comes together.

Just great..

All the mid cap oilers flying today - BUR, DNX, CNE, DGO - rumours of another bid, or so I read elsewhere. That, plus nodoubt the oil price going north of $61 last night. Anyone for a cold winter? Bring it on.....

disappointing lately, i think their may be trading statement soon.

positive statement today.

'2006 was a record year for Venture, both operationally and financially and we
have continued to make great progress in increasing both production and
reserves. Whilst our earnings remain leveraged to commodity prices in the short
term we continue to deliver increasing profitability underpinned by improving
realised prices and effective cost control. As we enter 2007 activity is at
record levels despite the tight market for equipment and services and we are
confident that the momentum we have established will continue.'

Preliminary results for the year ended 31st December, 2006 will be released on
17th April, 2007.

gazprom to buy a gas producer before Wimbledon
centrica or venture ?

Venture Production PLC
11 June 2007

Director/PDMR Shareholdings

Notification under DR 3.1.4(R)(1)(b):

The Company was notified on 8 June 2007 of the following sale of shares by its
Finance Director, Marie-Louise Clayton :

7 June 2007

216,268 ordinary shares of 0.4 pence each at a price of 716.42 pence per share
(0.16% of the Company's issued share capital).

8 June 2007

50,000 ordinary shares of 0.4 pence each at a price of 714.32 pence per share
(0.04% of the Company's issued share capital).

Notification under DR 3.1.4(R)(1)(a):

The Company was notified on 8 June 2007 of the following sale of 66,000 ordinary
shares by Michael James Travis, a Person Discharging Managerial Responsibility,
at a price of 700 pence per share (0.05% of the Company's issued share capital).

Directors and Management shipping shares at a rate of knots. Doesn't bode well. I'm out for now and staying out. Good luck if you continue to hold.

I think Venture are stuck in a little hole at the moment. A lot of their portfolio is gas in the southern basin. With the way gas prices have dropped this last 6 or so months they're income will have taken a big hit. I dont know too much about they're fields but i heard a rumour that they may switch off some of they're platforms in summer as it was costing them more to run them. However, gas prices have improved slightly since a few months ago.

Hep, looks like Venture have got themselves 'out of the little hole'. Moving like a Bat Out Of Hell now ! Good positive move and significant news for further growth potential.

http://moneyam.uk-wire.com/cgi-bin/articles/200707190701165073A.html

Just great.

Chart view looks great as well. 200 and 25 dma for reference.

:-)

certainly a very strong chart, but as this is not a stock i have ever followed, please can someone enlighten me as to why the sudden surge ...... am i right in thinking VPC had a mention in this week's Sunday Times along with PMO and TLW?

cynic , they were given a pot of money
200million somethings

Aren't all the energy stocks not in the same position. High energy prices. Venture will have certainly gained from the Teeside pipeline outage thats had a impact on the gas prices in the UK plus the ongoing damp cold summer we've been experiencing. This will have kept demand up a lot higher than the seasonal norm.

hmm! ..... will keep watching, but especially in the light of market turbulence, i would not be at all surprised to see a fairly significant pull back as profits are tucked away ...... imo, then perhaps but not now may the time to invest

Here are two links to recent news items that I believe are influencing the current market sentiment.


http://moneyam.uk-wire.com/cgi-bin/articles/200707180931484352A.html

http://moneyam.uk-wire.com/cgi-bin/articles/200707190701165073A.html

Thanks for that Darradev.

Comment in Saturdays FT..


http://www.ft.com/cms/s/b43ecdb0-3ca6-11dc-b067-0000779fd2ac,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2Fb43ecdb0-3ca6-11dc-b067-0000779fd2ac.html&_i_referer=http%3A%2F%2Fsearch.ft.com%2Fsearch%3FqueryText%3Dventure+production

Morning all. VPC motoring today, I think on the back of some broker updates and the general M&A frenzy in the oil sector.

Mitzy, are you still 'in'.

Cynic, did you have another look after your comments earlier in the year. Maybe a bit better than the 'spivvy' ones you have been berating on the other threads. :-)

Yep you bet Darradev this thread has been too quiet during the summer perhaps the winter will prove a better time.

I am thinking oil at $120 plus next year also gas prices up 50%.

What a performance roll on oil at $120...

Oil stocks going higher, banking sector nose-dives. And they say banks are safe as houses ! Opps, property scare next !!

It's an upside down world these days.

Afternoon all. Another nice result for Venture.

http://moneyam.uk-wire.com/cgi-bin/articles/200711190700599327H.html

10,000 BOPD test, with anticipated production in 1Q09.

This should spark new life into the SP.

hoping they reach 800p soon.

Not long now..

Breached 600p today first time in a month next step is 820p.

Morgan Stanley have said the oil bull will run for another 5 years and oil will be $115 a barrel next year.. I'm not arguing with them.

A good day for Dana up 5% .

touched 800p today for the third time in a row finished 5p off at 795p.

Breached 800p at the fourth attempt now up to 850p which may be more difficult.

No stopping venture today 850p within sights.

Marked down 10% this am unfair in my opinion.

Bit of a setback with the latest production figures, but I suppose it's offset slightly with the higher oil and gas prices.

Am looking to see some action here in the coming months, what with all that financing arranged last year.

Crikey, what a drop !, this market takes no prisoners ! It's like the string cutting a piece of cheese in the supermarket.

Think we have seen the low for now I am a buyer.

This is really crazy, what sort of a drop would it be if there was a disaster ?, I also got out of this one in the nick of time.

Good days trading reckon we could go to 700p in short term.

yes now over 700p and oil price tonight $100 and going higher a share price of 800p plus.

Hawaay the lads...!

Ups and downs.

think this will get back to 850p where it should be.......cant understand the hammering it took this year.
yes, it had some production down..........jes, bp has been down 45% in last 3 years in north sea....in which case bp should be 1 max with the way stock market works

i think the guys do it on purpose in city dragging share down so some of their pals can buy into it cheap

think this will get back to 850p where it should be.......cant understand the hammering it took this year.
yes, it had some production down..........jes, bp has been down 45% in last 3 years in north sea....in which case bp should be 1 max with the way stock market works

i think the guys do it on purpose in city dragging share down so some of their pals can buy into it cheap

Held for 3 years now seen the lows and the highs and never sold.

Two birds with one stone.

Hope it gets back to 850p scotinvestor because with gas at 62p a therm it should be trading at least 10 a time.

its going past 7 soon....there may be drag back a bit but some time in year it will be past 8

its going past 7 soon....there may be drag back a bit but some time in year it will be past 8

its going past 7 soon....there may be drag back a bit but some time in year it will be past 8

Gone past 700p what a gusher.

jes, going higher and higher.....soon be 8 quid soon.

its getting bigger than an erection this

800p will do fine (not sure about the erecion business)

MMs playing games here?

20p down today....what with oil strike here too? pure crazy

strike taking affect with refinery now closed for the weekend does not effect Venture though.

Just received e mail from OILEXCO stating they have been advised by BP they are shutting down the main pipeline which will effect their production of 20000+bopd.

Golden Cross approaching.

what does that mean, mitzy?

Hi scot

Its when the 50day moving average is rising and crosses the 200day moving average which is also rising..its all a bit technical but a golden cross is a good sign of a possible explosive share price when it occurs.

Its very bullish.

Goldman Sachs prediction of $200 a barrel has helped all oil today.

if you take into account uk gov tax, people in uk at petrol station r pating $200 already......so if usa gives us $200, then uk will in effect be >$300!!!

anyway anything in oil production is sky high right now......good to see venture recovering from the mm playing games in jan/feb

Looking at the chart its GC time..
1000p anyone..?

Oil could spike to $240 according to GS before the bubble bursts that is.

Still 20% undervalued compared to Dana and Premier.

Rising in tandem with the Dana E Rinnes news today.
Also BG planning to increase gas prices by 30% year will help .

Attention GC approaching.

Heading to 840p and 1000p in due coures if it follows DNX chart.

UBS issues a buy note today says 40% undervalued..

1000p to 1100p target assuming oil $95 in 2008.

UBS target 1250p..!

This has climbed like the space shuttle from 600p....no stopping it at the moment !.

i think something dodgy happened in jan when it went rom 850p down to 570p or less.....i almost sold!
thankfully i held and now in profit again.....i bet some city boys knocked it down and bought in....oh, am i being cynical again

just look at hornby at hbos if u want a dodgy guy

Been keeping the faith with Venture for a while now. A bumber year so far after a 'shakey' start.

On the bounce.

do u think these will go back up soon......bit of a drop recently.....arent interims out soon

Still a hold for me just like Dana.

Nice bounce today with Dana's results.

Mitzy, would the support break at 560p?

At 558p the future is very bleak.

Looks like a revival going on here at the moment.

Stock is very cheap no matter which way you value it.

Chart and secondary indicators looking rather positive...

Going reasonably well compared to most oileys today.

Looks like profit taking after yesterdays gains.

Not far off recent highs..

http://www.oil-price.net/

Russia and Opec
Published: November 27 2008 09:35 | Last updated: November 27 2008 19:44

Russia, says President Dmitry Medvedev, is ready to co-ordinate but not collude with Opec to stabilise oil prices. Two other Russian ministers have been making similar noises, just as Opec prepares to meet in Cairo on Saturday to consider further output cuts. Yet before consuming countries quake about a new price-fixing alliance between the oil cartel and the worlds second biggest crude producer, they should understand the precarious tightrope Moscow walks in relations with Opec.

Certainly, Russia has compelling reasons to boost oil prices. Urals blend is $20 below the $70 a barrel level at which Russia tips into budget and current account deficits. The sliding oil price also puts immense pressure on the rouble. Flinching from a politically hazardous devaluation, the Kremlin is burning through billions of dollars of foreign exchange reserves defending the currency. Production from Russias ageing oilfields, moreover, is already falling, but low prices make developing remote new reserves uneconomic. Most crucially, not co-operating with Opec risks seeing the cartel eschew production cuts to spite non-members who attempt to free ride on its efforts to bolster prices.

EDITORS CHOICE
In depth: Oil - Nov-27Oilexco scraps convertible bonds issue - Nov-20Chinese plans buoy Fortune Oil - Nov-11Statoil says turbulence could trigger mergers - Nov-03Petrochemical prices fall to multi-year lows - Nov-02Falling oil poses threat to supplies - Oct-22To continue reading this article, you must be a Premium subscriber...

Cracking finish, through 400p and nic elittle profit for the day.

440s to attack monday.

Still hold not sold one.

oil and gold cheap.

Yep Mitzy,

but as a pal just asking you to watch profit opportunity' s locked in.

Dont mean to be a mother ubbered or owt like that but take some profits even if its only a skim at 10% .

If you dont the MMs will have you.]

Sorry to keep harping on. youve been a gooD un to me so trying to pay back the compliment.

long term holder me gf for 4 years should have sold at 1000p I know but not unhappy to buy now at 400p.

Announcement should aid growth going forward.....

RNS Number : 4270J
Venture Production plc
03 December 2008



3 December 2008




VENTURE PRODUCTION plc and FAIRFIELD ENERGY Ltd




Venture Production and Fairfield Energy Award Schlumberger a Multiyear

Fracturing and Stimulation Contract







UK independent oil and gas production companies Venture Production plc ('Venture') and Fairfield Energy Limited ('Fairfield'), today announce that they have each entered into a multiyear contract with Schlumberger for the provision of well fracture and stimulation services from the state of the art dedicated dynamically positioned ('DP2') vessel the Siem Sailor. Venture and Fairfield have co-operated fully in negotiations to secure the vessel.




The vessel will be based in the North Sea and when not assigned to Venture or Fairfield's projects, will be made available to other operators for work in the UK, Dutch and Norwegian sectors.




The vessel has storage capacity for 2.5 million lbs of proppant, 315,000 gallons of fresh water, 10,000 gallons of liquid gel and a maximum pump pressure rating of 12,000 psi. In addition, the vessel has 13,550 hydraulic horse power ('HHP') capacity, station keeping capability and the ability to perform emergency disconnection from the well if required.




The vessel is expected to enter service for Venture and Fairfield during the fourth quarter of 2009. The first Venture project under the new agreement is expected to be the Phase 2 development of the Chiswick gas field in the Southern North Sea whilst Fairfield plans to use the vessel for its Crawford and Clipper South developments in 2010.




Venture Chief Executive Mike Wagstaff commented:




'After our success with Schlumberger and Siem during 2007 developing a temporary solution to stimulate the Chiswick development and Ensign appraisal wells, I am delighted that we have been able to create a long term partnership to enable us to develop our significant portfolio of 'tight' gas. This is consistent with our history of utilising innovative technology and commercial arrangements to unlock 'stranded' reserves.'




Fairfield Chief Executive Mark McAllister said:




'Fracturing and stimulation technology will play an expanding role in the future of the UK North Sea. By working together to secure access to this technology Fairfield and Venture have demonstrated that independents can create material opportunities through co-operation which will ultimately improve recovery of reserves and business performance.'







ENDS




Contacts




Venture Production plc

http://www.thisismoney.co.uk/investing-and-markets/tips-and-tactics/article.html?in_article_id=459149&in_page_id=23&ct=5

Looks like a buy approaching 400p.

Oil rose 10 % this week I bet oil gets back to $80/90 a barrel in the next 12 months.. and VPC 800p.

Rose 5% today due to higher oil prices.

Wait for OPEC announcement. China announced oil consumed fell 3.5% in 2008.

When is it due..?

OPEC meet tomorrow.

I remember now thanks.

Dana and Vpc both decent holds atm.Oil will rebound I'm sure.

Got both plus tullow.

Interest rate cut by yanks later will help and then OPEC cut tomorrow.

fingers crossed mitzy.

This is looking great according to the chart.
..if it can hold 500p the next level is 580p.

Symetrical pattern with bottom @300 and a top of 600..inverted H & S.

More like 675p (in time)

Most oilies well down and VPC up 22%!

Crazy times.

Centrica have bought a stake at 700p in VPC with a possible full bid.

Rising DMA offering good support each time there is a dip. Bodes well for the future, even though the Centrica bid rumour seems to have faded.

well plenty of action and 600p.

Crikey...missed out on this one.....zoom.....!

Talk in todays papers Centrica will buy 3i's 10% stake @700p which could be a prelude to a bid watch this space.

anyone any idea why the sudden plunge?

I assume profit taking. Back to the rising DMA around the 470 level. Hoping for another bounce upwards from there. Has recently happened twice before.

good as i hadn't seen any RNS and have bought in at 181.5. may consider another small tranche if SP keeps falling

Assuming that is not a typo (181.5p), I would seriously suggest you protect some of your profit.

apologies, meant 481.5 got a bit carried away with the moment. it seemed a good price y'day, didn't get to top up as SP recovered somewhat. possible opportunities in coming weeks. company looks sound, pays a small divi, and rumours[currently proved non-existant] of T/O can't but help the SP. plus hopefully price of oil may increase too.
Alex

lol.

VPC and DNX both good bets at the moment.

Yep. Almost panicked & sold last week. but for once doing nothing has paid off!!!

Tecnically it was a sell Harry but VPC never does what it is supposed to do..!

I guess Centrica are buying shares pushing the price up..I am holding for 850p as a bid price.

This is turning out an outstanding buy.

MoneyAM
"Oil and gas company Venture Production reports it has successfully tested an appraisal well in the Cygnus gas field in the North Sea, in which it has a 48.75% interest.

Chief executive Mike Wagstaff said the well 'has gone a step further toward confirming our belief that the Cygnus field is one of the southern North Seas largest undeveloped gas fields'.

He added, 'With up to five fault blocks with development potential, we believe that Cygnus will be a core asset for Venture for many years.

'After acquiring our interests in the field last year, this result is testament to the strength of Ventures business model and ability to acquire and rapidly exploit stranded reservoirs such as Cygnus.

'In 2009 we have a very active drilling campaign especially in the southern North Sea and this is a great start to what should be an exciting year.

Well...this is doing fine...bought into this a few weeks back....nice drilling campaign going on...the UK could do with a few more gas finds like this last one !.

I sold recently as I expected a pullback after it breached the 200DMA. Looking for somewhere around 500p +/- to get back in. Bit optimistic perhaps!

Not if oil keeps on dropping....!, I badly need a rise in crude for my portfolio !

I'm still waiting for Centrica.

Two steps forward & one step back each time, but sp now broken through the 600p level. Slow & steady with a possible boost when OPEC decide what they are going to do soon.

MoneyAM
Venture Production said today net profits for the year were up 59% to 76.7m (2007: 48.2m). Operating profit was up 98% to 231.1m (2007: 116.6m) and cash flow from operating activities was up 27% to 305m (2007: 240.2m).

The company proposed an 8% increase in dividend to 13p for the year.

Venture said average production increased 9% to 45,006 boepd (2007: 41,228 boepd).

Six new wells were drilled (all successful) setting up 2009/10 development programme.

Commenting on the results, Mike Wagstaff, CEO, said: 'After a challenging start to 2008, Venture delivered increased production levels which combined with high oil and gas prices resulted in record financial performance. 2008 was a very good year across all key areas of our business; production, development, drilling and acquisitions.

In the second half of the year we brought three new field developments on stream. This positions us well for 2009 and our active drilling and development programme will continue to drive growth and the current year has got off to an excellent start with two successful southern North Sea gas wells already drilled. Record levels of acquisition activity in 2008 have significantly strengthened our asset base for the longer term and we are rapidly moving these newly acquired assets towards development.

In addition to the cash flow generation from our existing production, we have a strong balance sheet with significant capital resources available both to finance our drilling and development programme as well as take advantage of acquisition opportunities thrown up by current market conditions. As a result we are well placed in the current challenging economic conditions and uncertain commodity price outlook.'

Delayed interest in this after the very good results.

Must be my lucky day up 25% today.

Mitzy,

Centrica have just bought a chunk of these.

Yes I read it thanks Stan I imagine they would have to pay 900p to buy them.

Time for a chart..

"Venture Production plc (Venture), the Aberdeen based UK independent oil and gas company, announces successful tie-in of a second production well in the Chestnut field. Venture is the field operator and holds a 69.875% working interest in the part of block 22/2a containing the Chestnut field.

The Chestnut field came on stream in mid-September 2008 with one initial production well tied-in to the Hummingbird FPSO. A second Chestnut production well was sanctioned in May 2008, spudded in September and successfully tested in November. This additional well has now been connected to the subsea infrastructure and has increased production from the field to just less than 12,000 barrels of oil equivalent per day (boepd), net to Venture. In addition, as a result of strong well performance and updated reservoir modelling the expected overall recovery from the field has increased by between two and five million barrels of oil equivalent (MMboe), net to Venture.

Investment in this second production well was sanctioned in May 2008 which means the well has been drilled and brought on stream in less than 10 months."

MoneyAM
"Venture Production this morning announced the success of its latest North Sea Carna gas well exploration, reporting that the well tested gas at stabilised rates in line with expectations with a gross rate of nine million cubic feet per day.

The Aberdeen-based oil and gas company said the Carna well commenced drilling from the Ensco 92 drilling rig on 26th December 2008 and reached a total measured depth of 11,500 feet on 4th March 2009. The well was designed to test a Carboniferous fault block and a significant gas reservoir was discovered following a mechanical sidetrack carried out in January.

Well log data indicates a gas column in excess of 1490 feet TVD (true vertical depth) and net pay of 127 feet TVD. The well tested gas at stabilised rates in line with expectations with a gross rate of nine million cubic feet per day (MMcfpd) on a 48/64th choke from a vertical well penetrating the Carboniferous.

No formation water was produced during the test. The well has been suspended pending further sidetrack to become a future production well and a field development decision will be made following a full evaluation of the export options. "

Once agian Venture prove they can deliver the Carna field is the cream on the top.

Talks next week with MW and Centrica.

Talks today send the sp up to 800p.

Centrica bid next week.

MoneyAM
"Aberdeen-based UK independent oil and gas company Venture Production said as at 1st April 2009, average production for the year to date has been approximately 51,300 barrels of oil equivalent per day, around 15% higher than last year.

Key contributors to production growth are the Chestnut, Grouse and Stamford fields, which were brought into production in the second half of 2008. Following the recent start-up of stabilised production from the second Chestnut production well, group production has averaged approximately 60,000 boepd.

The first quarter of 2009 has been an active period of drilling and field development activity.

Further drilling news is anticipated in the near future, with the results of the test of the second Cygnus appraisal well and the results of the Kew appraisal well (Venture: 100%). "

Half expected news re the bid this am Harry.

Cat & mouse game played here.

both are asleep!

that recorded volume above of 3.4m looks very suspect to me ...... according to the Trades on this site, 1m is more the mark, which is pretty much the norm i think

but i see Cerntrica now coming under pressure to increase its bid .... just maybe worth a small punt if you can buy <850 in the morning

up 5% this am but short of 845p.

no way will venture accept.........anyway sp doesnt go to takeover price immediately for anyone with experience on these matters.
sp should go down eventually after centica trying to steal venture on the cheap.

assuming Centrica make something approaching an acceptable bid, expect a discount to that of +/-10% which allows for time element + risk factor

very very heavy volumes today - 6.5m at time writing

Still short of 845p I'm not selling.

not necessarily very bright.
sp will remain below 845 until the deal is done, if it actually is.
with the disappointing drilling result, VPC have had their trump card turned over

I've held for 3 years now so another few weeks wont hurt me.

it will if VPC turn down Centrica's offer ..... if that happens, then sp looks to drop back to +/-600 ..... and you're hanging on for an extra 15p? ...... doesn't sound good risk/reward to me

I'm not to worried had Rift take-over the other month and now VPC which is undervalued by Centrica's low offer.

how often does one need to say that the true value of anything is only what somewone is prepared to pay?]
anyway, you money, your risk but never forget that far more money is lost by greed than by banking profits too early