Updates

Venture Production - Production ahead of guidance

June 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.

Another oil & gas firm to hit new highs before succumbing to the market correction is North Sea operator Venture Production, with final results showing strong progress. For the year ended 31 December, underlying operating profit increased 259% to £83m, on turnover up over 100% to £164m. Fully diluted eps was 23.9p. Operating cashflow was £77.7m and in spite of heavy investment in capex, including acquisitions of £208m, net debt only rose from £64.5m to £172.7m. Reserves increased 29% to 161 million barrels of oil equivalent. Venture’s profit growth came from the combination of a 77% increase in average production to 29,900 barrels of oil equivalent per day (boepd), significantly highe ...

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Peter Hambro Mining - Canaccord raises price target from Â£13 to Â£18

Big Yellow - Major property revaluation gains

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 - Lowball production target should be thrashed (March 2006)

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