Updates

Burren Energy - Good drilling results inspire bounce

April 2006

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.

After shredding a few nerves following a disappointing exploration well to the North of its M’Boundi field in the Congo, Burren has subsequently provided more reassuring news. The latest three development wells at M’Boundi have produced an average flow rate of 2,930 barrels of oil per day (bopd) and once they come on stream, gross production from the field should rise from 57,000 bopd at the end of last year towards its field capacity of 62,000 bopd. Burren and its partners plan to upgrade this capacity later in the year. It has also just spudded an exploration well on the nearby Kouakouala permit, while in mid-March it will spud another step-out appraisal well at M’Boundi, this time to the South East of the field. ...

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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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