Venture To Begin Drilling Program on Sycamore Field

Venture Production will start drilling in May of this year at its Sycamore field in the UK Sector of the North Sea. Sycamore is expected to come onstream in April 2003. The field, with estimated oil reserves of 25-30 million barrels, is in Block 16/12a and is part of Venture's Trees Prospect, which also includes Larch and Birch.

Development is subject to approval from the Department of Trade and Industry. Venture is the operator with a 46.8% interest and its partners are Marubeni Corp. with 35.5% and Agip with 17.7%.