VPC Venture Prod.

Centrica Resources PLC (CNA.LN), an integrated energy company, announced Thursday that the Offer is wholly unconditional and notes that the recommendation of Venture's Board that Shareholders accept the Offer is also now unconditional.

MAIN FACTS:

-As at 1400 GMT on Thursday Aug. 27, Centrica Resources had received valid acceptances of the Offer and was, together with its nominee, the registered holder in respect of a total of 96,129,759 Shares which may be counted towards satisfaction of the acceptance condition to the Offer, representing 64.2% of the current issued share capital of Venture Production (VPC.LN).

-Within this Centrica Resources has received valid acceptances in respect of 24,168,706 Shares, representing 16.1%. of the current issued share capital of Venture and is, together with its nominee, the registered holder of 71,961,053 Shares, representing 48.0%. of the current issued share capital of Venture.

-In addition to the Shares referred to above, Centrica Resources has also acquired, subject to settlement, 3,194,677 Shares, representing 2.1%. of the current issued share capital of Venture.

-Accordingly, as at 1400 GMT (London time) on Thursday Aug. 27, Centrica Resources owned, had agreed to acquire or had received valid acceptances of the Offer in respect of a total of 99,324,436 Shares, representing 66.3%. of the current issued share capital of Venture.

-Centrica Resources announces that the Offer will remain open for acceptance until further notice.

-As a result of this extension, 1200 GMT on Monday Sep. 14, is no longer a closing date for the Offer and, therefore, no announcement of the level of acceptances as of that date will be made.

 
-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com 
 

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