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Burren Energy- Hits production target seven months early

July 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.

  • Epic Code:
  • BUR
  • Price:
  • 588p
The catalyst for the recent surge in the Burren's shares was a very encouraging update at its AGM. This noted that its net entitlement production reached an average of 23,900 bopd in May, an increase of 17% from the 20,400 bopd recorded at the time of its final results in early April. This means it has effectively hit its year-end target seven months early! In Turkmenistan, where Burren's share of production is currently 13,600 bopd, drilling activity remains high with a second deep rig expected to arrive in Turkmenistan in the third quarter and will be used for exploration drilling on the south flank of the Burun field. In Congo, where Burren's net production is 10,300 bopd, the anticipated arrival of a fourt ...

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