RNS Number:9327H
Venture Production PLC
19 November 2007


19 November, 2007


                             VENTURE PRODUCTION plc


                        Successful Grouse Appraisal Well


Venture Production plc ("Venture"), the Aberdeen based UK independent oil and
gas production company, today announces that it has successfully drilled and
tested well 21/19-12z to appraise the Grouse oil field. Grouse is located in
Block 21/19 within the Greater Kittiwake Area ("GKA"), a central North Sea
production hub operated and 50% owned by Venture.

Grouse was first discovered in 1981 by the 21/19-1a well. Subsequent work by
Venture's subsurface team justified drilling a horizontal well to target better
quality, thicker reservoir sands to the southwest of the discovery well. This
well was spudded by the Noble TVL semi-submersible rig in late August and has
now been successfully drilled and completed. Stabilised test rates in excess of
pre-drill expectations were achieved. Rates of over 10,600 boepd gross were
achieved through a 32/64" choke with a tubing head pressure of around 2,700 psi
but this was limited by the throughput capacity of the test equipment.

The well will be suspended for use as a future producer and Grouse will be
developed as a subsea tieback to the Kittiwake platform utilising the Goosander
production riser that was installed in 2006. Field development planning of a
fast track development will commence immediately with first oil targeted for
first quarter 2009.

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

"This is another excellent drilling result on GKA, following on as it does from
the development of Gadwall and the high performing Goosander field. With the
imminent start-up of the new Kittiwake-Forties pipeline and the further
potential production from additional Kittiwake satellites we can look forward to
production from this hub extending well beyond 2015."


                                      ENDS

Contact:

Mike Wagstaff, Chief Executive
John Murphy, Chief Operating Officer
Rod Begbie, Corporate Development Director                          01224 619000

Patrick Handley, Brunswick                                         020 7404 5959
John MacDonald, Weber Shandwick (Scottish press)                    01224 806600


Notes to Editors:
     
-    The Grouse base case development is expected to deliver an initial
     gross oil production rate of approximately 10,000 barrels per day.

-    The Greater Kittiwake Area, including the Grouse field, is jointly owned 
     by Venture Production plc and Dana Petroleum plc (50% each) and contains
     the currently producing Kittiwake, Mallard, Gadwall and Goosander fields.

-    The undeveloped Christian (oil) and Bligh (gas condensate) discoveries to 
     the east provide additional potential upside from GKA. In addition, there 
     is redevelopment potential in the abandoned Durward and Dauntless fields 
     plus a number of exploration prospects within tie-back range of the 
     Kittiwake platform.


Greater Kittiwake Area ('GKA') Fields

    Field      Venture                      Status                              Planned Activity/Facilities
               Interest

Kittiwake (*)    50.0%               Producing oil field                Permanently manned platform, host facility
 Mallard (*)     50.0%               Producing oil field                             Sub-sea tie back
                                                                           Water injection well drilled 3Q 2006.
 Gadwall (*)     50.0%               Producing oil field                Sub-sea tie back - on stream in April 2005
                                                                        Water injection well drilled in early 2006
Goosander (*)    50.0%               Producing oil field                 Sub-sea tie back - on stream August 2006
                                                                       Potential water injection well in 2008/9, if
                                                                                         required
  Grouse (*)     50.0%         Potential oil field development              Appraisal well successfully drilled
Christian (*)    50.0%            Undeveloped oil discovery               Medium-term development well candidate
    Bligh        20.8%       Undeveloped gas condensate discovery       Longer term potential development candidate
  Durward /
Dauntless (*)    50.0%                  Decommissioned                 Potential re-development under consideration
                         - potential oil field re-development

Note : * indicates Venture is currently the field operator.



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

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