2009-09-25-2009-08-29

Entered JV to acquire 60% WI in UKCS blocks 43/9, 43/10, 44/6.

Venture Production Plc (London: VPC) plans to acquire a 60% working interest in U.K. Continental Shelf blocks 43/9, 43/10 and 44/6 in a farm-in agreement with PA Resources UK Ltd. and Spyker Energy SAS in exchange for seismic costs. Venture will pay 100% of the costs of a 3-D seismic survey. Following the farm-in PA Resources will hold a 32% working interest and Spyker will hold an 8% working interest. The seismic survey will be operated by PA Resources with operatorship transferred to Venture afterwards. The initial focus of the seismic will be the Kennett lead which lies to the north west of the large undeveloped Cygnus gas field in which Venture holds a 48.75% working interest.