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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.

  • Epic Code:
  • VPC
  • Price:
  • 623p
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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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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