Venture North Sea Ltd., Venture Plc.

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Description

NEW, Venture North Sea Ltd., a subsidiary of Venture Production Plc, has retained Stellar Energy Advisors to partially divest its interest in Acorn Field in the U.K. Central North Sea. Venture is seeking to farm-out interest in exchange for funding the work program for the well. Venture holds 79.80% net interest in Licence P012, Block 29/8a(S) and 77.63% net interest in Licence P227, Block 29/8b. An appraisal/development well will be drilled in 2009. Acorn field holds 102 million standard barrels of oil in place and proved plus probable reserves of 12.4 million barrels equivalent. The data room is open. The bid due date is Nov. 14. Offers are to remain open through Dec. 12. Contact Simon Willcocks, +44 (0) 20-7493-1977.