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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.

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

August 2004

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