RNS Number:9621C
Venture Production PLC
30 August 2007


30th August 2007


                             VENTURE PRODUCTION plc


               Venture Announces New #585 million Debt Facilities


Venture Production plc, ("Venture"), the Aberdeen based independent oil and gas
production company, today announces that it has entered into new debt financing
arrangements totaling #585 million consisting of a new corporate debt facility
and an institutional private placement of loan notes.

Venture has put in place a medium term committed corporate debt facility of #350
million underwritten and arranged by Barclays Bank plc. The deal was lead by
Barclays growing Oil and Gas team in Aberdeen. It is anticipated that the new
facility will be syndicated in early autumn with strong interest already
expressed by Venture's existing syndicate of lenders. This new facility replaces
Venture's previous borrowing base facility.

In addition, Venture has raised US$424 million and #25 million in a private
placement of notes with US and UK institutional investors. These notes have
final maturities of between 10 and 15 years and are at a fixed rate. The private
placement was arranged by Schechter & Co. Limited.

Taken together, these funds will help finance the ongoing development of
Venture's existing asset base as well as fund potential future acquisitions.

Marie-Louise Clayton, Finance Director, said:

"This new financing represents another step forward in Venture's development. In
particular the willingness of financial institutions to make available medium
and long-term debt facilities is an unequivocal vote of confidence in the
sustainability of both Venture and the North Sea. We are particularly pleased to
have completed these financings in the current challenging conditions in the
global debt markets and we look forward to working with Barclays and the
Noteholders as Venture utilizes these funds to consolidate its position as the
leading independent Oil and Gas Company in the North Sea. Combined with the
recent strategic investment by ArcLight and 3i, Venture has an excellent
financial base from which to continue our growth. We appreciate the support from
our existing banking group and look forward to their participation in the
syndication of Venture's new corporate debt facility."


ENDS


Contact:

Mike Wagstaff, Chief Executive
Marie-Louise Clayton, Finance Director
Doug Fleming, Business Development Manager
Venture Production plc, 01224 619 000

Patrick Handley, Brunswick 0207 404 5959

John MacDonald, Weber Shandwick 01224 806 600



Notes to Editors


Venture Production plc:


- Venture Production plc is a FTSE 250 listed oil and gas producer
  based in Aberdeen with offices in London and Hoofdorp in the Netherlands.

- Has a current market capitalisation of over #1 billion.

- Venture has assets in the UK and Dutch sectors of the North Sea
  with total Proved and Probable Reserves of 221.5 million barrels of oil
  equivalent ("MMboe") at 31 December 2006

- Venture will announce its interim results for the 6 months to 30
  June 2007 on 18 September 2007.

- On 19 July 2007, Venture announced a #200 million investment in
  Venture by 3i Group plc and ArcLight.

- On 23rd August 2007, Venture announced agreement to acquire WHAM
  Energy plc for a total consideration of #14.2 million.



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

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