2009-04-20-2009-03-18-2009-03-18

Acquired 22% stake in company.

British utility Centrica has acquired a 22% stake in Aberdeen-based E&P Venture Production Plc for £239 million (US$335 million) in cash. Centrica paid 725 pence per share for 33 million shares, raising its total holdings in Venture to 22.3%. The company reported it would consider making a cash offer for the remaining shares in Venture. Venture operates in the UK and Dutch North Sea. Proved reserves as of April 1 are 240 million barrels of oil equivalent. Production during 2008 averaged 45,000 barrels of oil equivalent per day (65% gas). Goldman Sachs International is advisor to Centrica.