Updates

Burren Energy - KBC publishes new 20 page note

December 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.

Broker, KBC Peel Hunt, has published a 20 page note, which brings some interesting new angles to the Burren story. The broker points out that although the shares have surpassed its core net asset value (NAV) estimate of 372p, the short and medium term potential upside from various projects is substantial and could add another 235p to its NAV. These include two ongoing projects at its Nebit Dag field inTurkmenistan; The Burun South Flank which could add 75m barrels of oil gross and shallow water drilling at a reservoir known as the Aspheron Channels, with cumulative potential of over 100m barrels. The remainingelements come from Burren's interests in Congo, the jewel in the crown being its M'Boundi field, which has already ...

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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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