Venture Production PLC (VPC.LN), the North Sea focussed oil and gas company, Friday urged shareholders not to accept the offer by Centrica Resources (U.K.) Limited (CNA.LN) for Venture or to tender or sell their shares to Centrica.

MAIN FACTS:

-Venture believes that the Centrica Offer should be seen in the context of Venture's strong operational and financial performance during the year to date and the recent improvement in both the equity markets and the commodity price environment.

-During the first half of 2009 Venture has added materially to its reserves base, with five out of seven gas exploration appraisal wells drilled being commercially successful and increased production by 16% to 52,988 boepd (first half 2008 - 45,534 boepd)

-Venture has also demonstrated the attractiveness and value of its portfolio with the conditional agreement to divest certain of its assets to N.V. Nuon Energy at a value which represents$16.9 per proved and probable barrel of oil equivalent reserves

-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com
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