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Venture Production

November 2005

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.

Several one-off accounting items, such as low priced hedging contracts and adverse foreign exchange movements, conspired to push Venture Production into a headline pretax loss of £5.9m for the first six months ending 30 June. However, the true picture is much better than this, with most of those hedging contracts unwinding shortly while underlying operating profit more than doubled from £9.1m to £20.1m. Operating cashflow was a lowish £3.9m, but this mainly reflects one-off working capital movements and although Venture’s capex program has pushed up net debt to £145m, this is comfortably below debt capacity of £325m. During the period, average oil and gas production increased 35% to 24,255 ...

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Clarkson - Shares under pressure from falling freight rates

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 - 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 - 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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Venture Production

November 2005

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