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STOCKS FOCUS: VENTURE PRODUCTION
0 Comments | Sunday Herald, The, Feb 24, 2008
VENTURE Production confirmed it is applying to the secretary of state for business for approval to develop the Grouse oil field in block 21/19 in the central North Sea. The field, 50-per cent owned by Venture and 50-per cent by Dana Petroleum, will be developed by a subsea tieback to the nearby Kittiwake processing facilities, also owned jointly by the two Aberdeen oil companies.
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It was previously revealed that an appraisal well on Grouse flowed on test at more than 10,600 barrels of oil per day with the first oil scheduled for the first quarter of 2009. Shares closed at 711p.
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