RNS Number:0318R
Venture Production PLC
09 September 2005


9 September 2005

                             VENTURE PRODUCTION plc
                   ("Venture", "the Company" or "the Group")

                          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."

                                      ENDS


Contact:

Mike Wagstaff, Chief Executive
Jon Murphy, Chief Operating Officer
Rod Begbie, Corporate Development Manager         01224 619000

Patrick Handley, Brunswick                        020 7404 5959

Notes to Editors:

* Venture expects the second Saturn well to be onstream during December.

* Near term gas projects that Venture operates include the second well on
  the Annabel field which is currently drilling with an expectation of first
  gas during October and an infill well on the Ann field which is scheduled to
  spud during Q4 2005.

* Partners in the Saturn development are ConocoPhillips (U.K.) Limited
  (operator), RWE DEA UK Development Limited and Venture Production (North Sea
  Developments) Limited.
 
* Venture entered the southern North Sea ("SNS") in 2001 through the
  acquisition of interests in the Audrey, Ann and Alison gas fields.

* Venture has built its SNS business through serial acquisition, multiple
  major commercial transactions and a portfolio of development, appraisal and
  exploration wells within the 'A' Fields hub over the period 2001 - 2005.

* Venture is the operator and 100% owner of the Audrey, Ann, Alison and
  Annabel fields and has a 22% interest in the Saturn field that is now in
  production.

* As a result Venture now has interests in seven discovered SNS gas
  fields:
  - five in production (Audrey, Ann, Alison, Annabel and Saturn)
  - two near term developments with the potential to be on stream by end
    2006 (Mimas and Amanda)
  - two further near term appraisal opportunities (Agatha and Adele)
  - at the end of 2004, total net proved and probable gas reserves from
    these interest amounted to 254 Bcf
  - in addition Amanda, Agatha and Adele account for a further 80 Bcf of
    additional possible reserves
  - this gas portfolio has the potential to deliver peak production over
    200 MMscfpd in the 2006/7 timeframe.




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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