Second Chestnut field production well successfully tied-in

Venture Production has successfully tied-in a second production well on the Chestnut field.

Offshore staff

ABERDEEN, UK -- Venture Production has successfully tied-in a second production well on the Chestnut field.

Venture is the field operator and holds a 69.875% working interest in the part of block 22/2a containing the Chestnut field.

The Chestnut field came on stream in mid-September 2008 with one initial production well tied-in to the FPSOHummingbird. A second Chestnut production well was sanctioned in May 2008, spudded in September, and successfully tested in November.

This additional well has now been connected to the subsea infrastructure and has increased production from the field to just less than 12,000 boe/d, net to Venture. Due to strong well performance and updated reservoir modeling, the expected overall recovery from the field has increased by between 2 and 5 MMboe, net to Venture.

03/19/2009

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