RNS Number:7303Q
Venture Production PLC
05 February 2007


The following replaces the announcement released today at 12.15 under RNS number
7140Q. The second paragraph should state "Markham J6A production" rather than
"Markham J3c production" as previously stated.


5th February, 2007


                             VENTURE PRODUCTION plc

                 Venture Announces 24th Licensing Round Awards


Venture Production plc ("Venture"), the Aberdeen headquartered UK independent
oil and gas production company, today announces that it has been awarded two
Blocks in the UK's 24th Licensing Round, namely Block 49/10c in the Southern
North Sea and part of Block 21/17, within the Company's Greater Kittiwake Area
("GKA") production hub, owned 50% by Venture and 50% by Dana Petroleum plc.

Block 49/10c contains the Stamford Discovery and is a candidate for near-term
development as either an extended reach well from the Markham J6A production
platform or a short sub-sea tieback to Markham.

Block 21/17 contains the Winchat and Wagtail appraisal prospects and the
intention is that Dana Petroleum plc will act as Operator during the exploration
phase prior to any commercial developments.

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

"We are very pleased to have added these new licences to two of our core
production hubs.  Given our access to drilling rigs and subsea construction
vessels, we will be looking to move forward and develop Stamford as part of the
planned work programme for late 2007 or 2008."


                                      ENDS

Contact:

Mike Wagstaff, Chief Executive                                      01224 619177
Rod Begbie, Corporate Development Manager

Patrick Handley, Brunswick                                         020 7404 5959
Chris Blundell, Brunswick

John MacDonald, Weber Shandwick (Scottish Press)                   01224 806 600


Notes to the Editors

Venture Production plc

   *Aberdeen based, UK independent oil and gas producer, focused in the North
    Sea

   *Listed on London Stock Exchange with a market capitalisation of
    approximately #1 billion

   *Net average production for 2006 of 44,706 boepd.  Net average production
    guidance for 2007 of 47,000 to 51,000 boepd

   *Proved and Probable Reserves of 221.2 MMboe (at 31 December 2006)

Venture will announce its 2006 Preliminary Results on 17 April 2007


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

END
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