Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

VENTURE PRODUCTION PLC

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

CHANGE OF DTRs ON 1 JUNE 2009

X

3. Full name of person(s) subject to the notification obligation:

3i GROUP PLC (DIRECT)

3i INVESTMENTS PLC (INDIRECT)

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

 N/A

5. Date of the transaction and date on which the threshold is crossed or reached:

16 AUGUST 2007 - THRESHOLD DEEMED TO BE CROSSED ON 1 JUNE 2009

6. Date on which issuer notified:

 3 JUNE 2009

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

 10%

8. Notified details:

A: Voting rights attached to shares

Class/type of shares

if possible using the ISIN CODE

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Number of Shares

Number of Voting Rights

Number of shares

Number of voting rights

% of voting rights

Direct

Direct

Indirect

Direct

Indirect

 0.4p ORDINARY

8,108,328

 SEE SECTION 9 BELOW

5.41%

SEE SECTION 9 BELOW

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/ Conversion Period

Number of voting rights that may be acquired if the instrument is exercised/ converted.

% of voting rights

 N/A

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Exercise price

Expiration date

Exercise/ Conversion period

Number of voting rights instrument refers to

% of voting rights

CONVERTIBLE BOND

915p

06/08/2010

ANY TIME FROM 16/02/2008

8,251,363

Nominal

Delta

 5.51%

Total (A+B+C)

Number of voting rights

Percentage of voting rights

 16,359,691

10.92%

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

3i GRIOUP PLC HAS A DIRECT BENEFICIAL INTEREST IN THE TOTAL NUMBER OF VOTING RIGHTS DISCLOSED IN SECTION 8 ABOVE.

3i INVESTMENTS PLC (A WHOLLY OWNED SUBSIDIARY OF 3i GROUP PLC) HAS AN INDIRECT INTEREST IN THE TOTAL NUMBER OF VOTING RIGHTS DISCLOSED IN SECTION 8 ABOVE IN ITS CAPACITY AS THE DISCRETIONARY INVESTMENT MANAGER OF 3i GROUP PLC.

3i HOLDINGS PLC AND 3i PLC ARE BOTH WHOLLY OWNED SUBSIDIARY UNDERTAKINGS OF 3i GROUP PLC AND PARENT UNDERTAKINGS OF 3i INVESTMENTS PLC.

Proxy Voting:

10. Name of the proxy holder:

 N/A

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

 N/A

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

 N/A

13. Additional information:

 NOTIFICATION USING TOTAL VOTING RIGHTS OF 149,769,828

14. Contact name:

 CERIS HAYWARD

15. Contact telephone number:

 020 7975 3414

SIMON WAITE

4 june 2009