It was a constituent of the FTSE 250 Index, but was delisted following Centrica's purchase of the company in August 2009.

[1][2] The company was formed in 1997 by Larry Kinch, Bruce Dingwall CBE & Dave Neely to exploit oil and gas reserves in the North Sea.

Management fought for the company as they believed it was valued higher than the 845p a share offer.

Centrica's share price subsequently collapsed as they were unable to successfully deliver assets they acquired from Venture Production, notably the Ensign Gas Field reputed to have lost some £80 million before decommissioning.

[citation needed] The company's strategy was to develop stranded fields, i.e., fields that were too small to be economic for large companies, needed significant investment or did not fit the strategy of the existing owners.