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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Buren Energy - Keeps investors waiting over M'Boundi oil field

August 2004

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
he shares enjoyed an electrifying run (hitting a new high  at one point of 379p) after announcing that results for well MB 801, the first of two step-out appraisal wells on the M'Boundi field in the Congo, have the potential to increase reserves.   MB 801 was drilled to a depth of 2,438 metres and tested at 1,540 barrels of oil aday, but the significant point is that it didn't hit any water, suggesting that its size could be much larger than first thought.  The results from the appraisal well, MB 701 will be announced in due course.   As we go to press Burren has released a pre-close trading statement, for the six months ended 30 June. This stated that net production averaged 11,710 barrels of oil per ...

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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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