Venture Production plc (the "Company")

Director/PDMR Shareholdings and Disclosure and Notification of Major Interests in Shares

The Company was notified on 5 September 2008 of the following transaction which was conducted between the connected persons of Mr Laurence William Kinch, a Director of the Company. The transaction was conducted for Mr Kinch's estate planning purposes and does not change his overall beneficial holding in the Company.

On 5 September 2008, IFG Trust (Jersey) Limited as trustee of the Larry Kinch Life Interest Trust (a connected person of Mr Kinch) disposed of 4,444,500 ordinary shares of 0.4 pence each in the capital of the Company (the "Shares") on the London Stock Exchange at a price of 686 pence per share. The buyer was Linklodge Limited, a wholly owned subsidiary of the Larry Kinch Life Interest Trust, which is also a connected person of Mr Kinch.

Prior to this transaction, Mr Kinch held the legal title to the Shares as nominee for the Larry Kinch Life Interest Trust and was entitled to exercise the voting rights attached thereto. In connection with the transaction, legal title to the Shares was transferred to Linklodge Limited. As a result, the voting rights held by Mr Kinch have been reduced as follows:

1. Name of Issuer

VENTURE PRODUCTION plc

2. Reason for Notification

DISPOSAL OF VOTING RIGHTS

3. Full Name of person(s) subject to notification obligation

MR LAURENCE WILLIAM KINCH

4. Full name of shareholder(s) (if different from 3 above)

MR LAURENCE WILLIAM KINCH

5. Date of the transaction

5 SEPTEMBER 2008

6. Date on which issuer notified

5 SEPTEMBER 2008

7. Threshold(s) that is/are crossed or reached

BELOW 7%, BELOW 6%, BELOW 5%

8. Notified Details

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held 

Proxy Voting

10. Name of Proxy holder

11. Number of voting rights proxy holder will cease to hold

12. Date on which proxy holder will cease to hold voting rights

13. Any additional information

14. Name of contact and telephone number for queries

Alastair Alderton, Clifford Chance LLP 

020 7006 2917

15. Name and signature of duly authorised officer of the listed company responsible for making this notification

SIMON WAITE  01224 619000

Date of notification

5 SEPTEMBER 2008

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