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STOCKS FOCUS: VENTURE PRODUCTION
0 Comments | Sunday Herald, The, Apr 6, 2008
VENTURE Production reached a cash deal to acquire six undeveloped gas discoveries, including the potentially lucrative Cygnus find, from Tullow Oil for GBP35 million. The Aberdeen-based oil and gas independent wants to push ahead with its North Sea expansion strategy and said the deal would help it gain increased exposure to the gas-rich North Sea at a time when strong demand for the commodity is expected to support prices.
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This is the latest in a series of deals by Venture, which has funding in place to allow it to invest about GBP1 billion in acquisitions. Shares closed at 657p.
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