Venture Proves Gas at Kew Appraisal in Greater Markham Area

Venture Production has successfully drilled well 49/4c-7z to appraise the northern section of the Kew field. Venture has a 100% interest in Block 49/4c which lies 1.9 miles east of the Venture-operated Chiswick platform and 8.6 miles north of the Venture-operated Markham platform.

The well has proved gas in the northern section of the field with gas found in the Silverpit, Leman and primary Carboniferous reservoir. Cores have been taken to confirm that the Carboniferous reservoir quality is in line with expectations as indicated by logs.
Top Carboniferous came in 23 meters high to prognosis and preliminary work indicates that the Carboniferous gas-in-place volume is higher than the pre-drill best technical case, but within the range of expected outcomes. Final evaluation requires detailed analysis of the cores which will be completed over the next few weeks.

The well, which was originally spudded in early December 2008 by the Noble Julie Robertson rig had a number of operational challenges, including a side-track, is planned to be suspended for use as a producer at a later date. A field development plan utilizing existing local infrastructure will now be finalized.

As well as confirming the development potential of the Kew discovery, the results of this well further supports the planned drilling of the nearby Wandsworth Carboniferous exploration prospect. Venture holds a 100% interest in Wandsworth and plans to drill a well to test the prospect in 2010.

Commenting on the news, Mike Wagstaff, Chief Executive said, "Finding gas at Kew underlines the growth potential we have in the Greater Markham Area, one of our most important business hubs which we have been actively developing since our entry acquisition in 2006. Kew has delivered additional gas that we can tie-in to our existing infrastructure and development planning for this is ongoing. We now look forward to a series of new wells in our equally important 'A' Fields hub before returning to GMA later in the year to continue with the development of the Chiswick field."

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