Updates

Burren Energy - Three new wells successful

December 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.

Burren has released encouraging drilling results for its three latest development wells on the M’Boundi field in Congo (35% working interest), which in aggregate flowed at a cumulative gross rate of 9,600 barrels oil per day and will be put on production in late November. Burren is also currently drilling a fourth well on the South-East perimeter of the field.Heavyweight broker Merrill Lynch, which recently initiated coverage with a "buy" recommendation and a target price of 1015p, has reiterated this advice and believes that the latest drilling results are consistent with a far higher recovery factor at M’Boundi than the 21% currently booked by Burren. That’s exactly what we said when we mad ...

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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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