2009-08-15-2008-11-01

To buy additional 13.75% nonoperated interests in Cygnus, Kepler, Copernicus, Humphrey gas discoveries, interests in 3 exploration blocks in U.K. southern North Sea.

Aberdeen-headquartered, UK independent Venture Production Plc and GDF Britain Ltd. plan to acquire additional interests in the Cygnus, Kepler, Copernicus and Humphrey gas discoveries together with interests in three exploration blocks in the U.K. southern North Sea from E.On Ruhrgas UK Caister Ltd. for £14.8 million (US$25.5 million) each. The four proven but undeveloped discoveries lie close to existing infrastructure in the Caister Murdoch system. In April, Venture acquired of an initial 35% interest in each. In this follow-on transaction Venture will acquire an additional 13.75% nonoperated interest. GDF will remain operator of each of the four discoveries. Venture chief executive Mike Wagstaff says, "This deal gives us greater mass in a set of gas assets which we are already pushing forward through appraisal to development in conjunction with the operator. In Cygnus we will now have close to 50% of what could become one of the largest remaining southern North Sea gas developments."