VENTURA OFFSHORE HOLDING LTD.: TRANSFER OF SHARES AND EXERCISE OF WARRANTS BY PRIMARY INSIDER AND CLOSE ASSOCIATE

Ventura Offshore Holding Ltd. (the "Company") announces the following
transactions involving primary insider Gunnar W. Eliassen and his wholly-owned
company, SNC Winther Holdings Limited ("SNC"): 

-	Mr. Eliassen's exercise of 566,667 warrants in the Company