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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Burren Energy - Intruiging Indian acquisition

April 2005

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • BUR
  • Price:
  • 533p
The shares reacted to news that Burren has won two more exploration blocks in Egypt, the third leg of its business, by hitting another new high of 539p. The licences include Block One, an onshore area in the Gulf of Suez basin totalling 1,457 sq. km. and Block Two, an offshore shallow water area covering 242 sq. km. in the Southern gulf of Suez, along the same trend as two well known oil production areas. Earlier, Burren announced its first acquisition since the float of a 26% stake in Hindustan Oil Exploration company (HOEC), India's only listed oil & gas firm, for US$26m. HOEC's main assets are 21% of the PY-3 oil field in the Cauvery Basin offshore Eastern India and 100% of the nearby PY-1 gas field. PY-3 is ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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