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.

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."