Venture Production Successfully Tests Grouse Appraisal Well in UK Central North Sea

Monday, November 19, 2007

Venture Production plc, the Aberdeen based UK independent oil and gas production company, has successfully drilled and tested well 21/19-12z to appraise the Grouse oil field. Grouse is located in Block 21/19 within the Greater Kittiwake Area ('GKA'), a central North Sea production hub operated and 50% owned by Venture.

Grouse was first discovered in 1981 by the 21/19-1a well. Subsequent work by Venture's subsurface team justified drilling a horizontal well to target better quality, thicker reservoir sands to the southwest of the discovery well. This well was spudded by the Noble TVL semi-submersible rig in late August and has now been successfully drilled and completed. Stabilised test rates in excess of pre-drill expectations were achieved. Rates of over 10,600 boepd gross were achieved through a 32/64' choke with a tubing head pressure of around 2,700 psi but this was limited by the throughput capacity of the test equipment.

The well will be suspended for use as a future producer and Grouse will be developed as a subsea tieback to the Kittiwake platform utilising the Goosander production riser that was installed in 2006. Field development planning of a fast track development will commence immediately with first oil targeted for first quarter 2009.

Commenting on the news, Mike Wagstaff, Chief Executive said:

'This is another excellent drilling result on GKA, following on as it does from the development of Gadwall and the high performing Goosander field. With the imminent start-up of the new Kittiwake-Forties pipeline and the further potential production from additional Kittiwake satellites we can look forward to production from this hub extending well beyond 2015.'



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