Centrica Resources (CNA.LN) said Monday that subject to settlement it has purchased a further 12,606,463 Shares, representing 8.4 per cent. of the share capital of Venture Production (VPC.LN), at 845 pence per Share.

MAIN FACTS:

-As a result, Centrica Resources now owns or has acquired, subject to settlement, a total of 59,993,691 Shares representing approximately 40.1 per cent. of the existing issued share capital of Venture.

-Accordingly, taking the acceptance level as at 1600 GMT on August 21 and Centrica Resources' holding in Venture at the time of this announcement, Centrica Resources either owns, has acquired subject to settlement or has received valid acceptances of the Offer in respect of a total of 75,301,966 Shares, representing in aggregate 50.3 per cent. of the existing issued share capital of Venture.

-The Offer is conditional solely on Centrica Resources having received acceptances in respect of Shares which, together with Shares acquired before or during the Offer, will result in Centrica Resources and any person acting in concert (within the meaning of the Code) with Centrica Resources holding, for the purposes of the Code, Shares carrying more han 50 per cent. of the voting rights of Venture.

-The Offer is final and will not be increased, except that Centrica Resources reserves the right to revise and/or increase the Offer if a competitive situation arises.

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