RNS Number:1400E
Venture Production PLC
15 October 2004

                             Venture Production PLC

                          ('Venture' or the 'Company')



                              Result of Open Offer



On 20 September 2004, Venture announced the terms of a Placing and Open Offer to
issue 12,789,034 New Shares of 0.4p each at 200 pence per share (the 'New
Shares').



Of the New Shares, 4,217,147 shares were placed firm with institutional and
other investors (the 'Firm Placed Shares') by Oriel Securities Limited ('Oriel')
as a result of certain Qualifying Shareholders undertaking not to take up their
entitlements under the Open Offer.



8,521,887 of the New Shares were placed with institutional and other investors,
subject to recall to satisfy valid applications under the Open Offer.  The Open
Offer closed at 3.00pm on Thursday 14 October 2004.



The Company announces today that valid acceptances have been received under the
Open Offer in respect of 6,725,636 of the New Shares which combined with the
Firm Placed Shares represents 10,942,783 of the New Shares (representing a total
of 86 per cent of those available under the Placing and Open Offer).  The
balance of the New Shares will be subscribed by placees procured by Oriel.



Accordingly, the Company has, subject to Admission, raised approximately #24.4
million (net of expenses) pursuant to the Placing and Open Offer.



The Placing and Open Offer remains conditional inter alia, upon admission of the
New Shares to listing on the Official List of the UK Listing Authority and to
trading on the London Stock Exchange's market for listed securities. It is
expected that Admission will become effective and that dealings in the New
Shares subscribed for pursuant to the Placing and Open Offer will commence at
8.00 am on 19 October 2004.



Words and expressions defined in the Company's prospectus dated and issued on 21
September 2004 have the same meaning when used in this announcement.



Contact:



Venture Production plc          Tel: 01224 619 000
Mike Wagstaff, Chief Executive



Oriel Securities Limited        Tel: 020 7710 7600
Simon Bragg
Scott Richardson Brown



Brunswick                       Tel: 020 7404 5959
Patrick Handley
Eilis Murphy




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

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