TIDMVPC 
 
RNS Number : 2586Q 
Venture Production plc 
07 April 2009 
 

7 April 2009 
VENTURE PRODUCTION plc 
Further Cygnus appraisal well success 
 
 
Venture Production plc (Venture), the Aberdeen based UK independent oil and gas 
company, today announces a further successful appraisal well on the Cygnus gas 
field. This latest well has confirmed gas in a third fault block which 
materially expands the potential recoverable reserves from the field.  Venture 
has a 48.75% non-operated interest in Cygnus which lies within UKCS blocks 
44/12a and 44/11a near to the Caister Murdoch System (CMS) area in the southern 
North Sea. The Cygnus field is operated by GDF Suez. 
 
 
Cygnus is a large gas field comprising both Leman and Carboniferous reservoirs 
with up to five potential productive fault blocks.  Following the announcement 
of a successful appraisal well in February (44/12a-3) which confirmed productive 
reservoir in the second fault block, a further appraisal well has been drilled 
to target the north eastern section of the field. This well (44/12a-4) has 
successfully tested the third fault block with a tubing constrained stabilised 
flow rate of 32 million standard cubic feet per day (MMscfpd), significantly 
better than the 5 - 10 MMscfpd anticipated pre-drill. In addition, strong tubing 
head pressure was observed which indicates the potential for very good well 
deliverability. The well was drilled by the Noble Ronald Hoope jack-up drilling 
rig and was spudded on 21 February 2009. It reached a total depth (TD) of 12,284 
ft and encountered 63 feet of gas bearing reservoir in the Leman interval. 
 
 
A draft field development plan has been prepared which envisages a phased 
development of the now fully appraised eastern part of the field. In due course, 
further appraisal drilling may be carried out in the as yet under appraised 
western part of the field which could lead to additional recoverable reserves 
through further phases of field development. 
 
 
Commenting on the news, Mike Wagstaff, Chief Executive said: 
 
 
"Testing gas at a very good rate from an additional fault block successfully 
completes the appraisal of the eastern part of the field. We believe that Cygnus 
will prove to be one of the UK's largest remaining undeveloped gas fields. The 
Cygnus partnership is well placed to move this field rapidly into development 
and the large working interest that Venture acquired in two deals last year now 
forms an exciting part of our developing business." 
 
 
Ends 
 
 
Contacts: 
Mike Wagstaff, Chief Executive 
Jon Murphy, Chief Operating Officer01224 619000 
Patrick Handley, Brunswick 020 7404 5959 
John MacDonald (Scottish Press) 07770 886912 
 
 
Notes to editors: 
  *  The Cygnus field is a large multi fault block accumulation discovered in 1988 by 
  the 44/12-1 exploration well which found gas bearing Leman reservoir in what is 
  now known as Fault Block 1. 
  *  An appraisal well drilled in 1989 (44/11-2) confirmed the presence of both Leman 
  and Carboniferous reservoir in a separate fault block (now know as Fault Block 
  5) and a 2006 appraisal well (44/12-2) in the original discovery fault block 
  confirmed gas bearing reservoir in both the primary Leman and secondary 
  Carboniferous intervals. 
  *  The February 2009 appraisal well (44/12-3) confirmed the presence of gas bearing 
  Leman in Fault Block 2 as well as delivering an unexpectedly positive result 
  from the Carboniferous interval which tested at 32 MMscfpd. A common gas water 
  contact was also established. 
  *  This latest well confirms gas bearing reservoir in Fault Block 3 and has tested 
  at a rate significantly in excess of pre-drill expectations. 
  *  The initial phase of field development will focus on the fully appraised eastern 
  part of the field with additional potential to appraise and develop additional 
  gas in the western part of the field. 
  *  Partners in the field are GDF Suez (38.75%) and Endeavour Energy UK Limited 
  (12.5%). The field is operated by GDF Suez. 
  *  Venture acquired a 35% stake from Tullow Oil (Tullow) in April 2008 and a 
  further 13.75% was acquired from E.ON Ruhrgas UK Caister Ltd (E.ON) in October 
  2008. 
  *  Also purchased from Tullow at the same time were interests in the Humphrey, 
  Kepler and Copernicus, Garnet, Opal and Boulton gas discoveries in the CMS area. 
  *  Additional interests acquired from E.ON at the same time were in Humphrey, 
  Kepler and Copernicus. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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