Secondary Recommendation

Venture Production - Oil & gas production hits 50,000 barrels per day

February 2006

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Since we identified North Sea oil & gas firm Venture Production as one of the cheapest stocks in our universe, the shares have really done us proud, with gains now approaching 100% since we first recommended them at 302p last May. Venture’s progress during 2005 has been nothing short of sensational, with its latest update in December unveiling that production has increased to over 50,000 barrels of oil equivalent per day (boepd). To put this into perspective, average production in 2004 was only 17,000 boepd. Not surprisingly, brokers, who not long ago had been expecting earnings of 78p for this year, have been forced to upgrade to a whopping 105p and that’s net of Gordon Brown’s tax increase. The secret beh ...

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Emerald Energy - Poor operational progress; take profits

Venture Production - Falling gas prices trigger stop-loss (March 2007)

Venture Production (November 2006)

Venture Production - Acquisition of UK gas producer (September 2006)

Venture Production (August 2006)

Venture Production - Production ahead of guidance (June 2006)

Venture Production - Lowball production target should be thrashed (March 2006)

Venture Production - North Sea tax hike (January 2006)

Venture Production - Acquires North Sea gas discovery (December 2005)

Venture Production (November 2005)

Venture Production - Step increase in oil & gas production should see earnings rocket (August 2005)

Venture Production - Another oil producer seeing huge growth (May 2005)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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