VPC - UNDERVALUED OIL STOCK

The foreign currency loss is a non-cash item resulting from the strengthening of
the US dollar against sterling during the first half of this year. This loss was
generated by the revaluation of Venture's dollar based loan on 30 June 2005.
During the second half of the year the loan was repaid then drawn down in
Sterling realising an exchange gain that eliminates this loss. As the loan is
now Sterling denominated there will be no further revaluation adjustments
generated from this source.

>>>>>Taken from interims and noticed they had a currency loss of £6m for 1st half so if I'm reading it properly, its worked out well that the loan is no longer in the stronger dollar?

Mick