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Burren Energy - 20 exploration wells planned by end '06

November 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:
  • 803p
Another excellent set of results from Burren proved the catalyst for a surge in the shares. For the six months ended 30 June, turnover increased 166% to US$168m, with pretax profit rising 388% to US$97m. Earnings jumped 573% to 59.9 cents. These results were driven by a combination of a higher average selling price of US$40 a barrel versus US$23 and a 95% increase in average production on a working interest basis to 29,100 barrels oil per day (bopd), of which Burren’s net entitlement is 22,200 bopd. The results would have been even better but for an underlift (unsold inventory) of 255,000 barrels of oil, worth a pretax profit of nearly US$10m, which will fall in H2.In Turkmenistan, working interest production increased 50% t ...

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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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