Updates

Burren Energy - Directors buy shares

November 2006

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’s new chief executive, Atul Gupta, chose a good time to move into the hot seat with the company delivering another sublime set of results for the six months to 30 June. Revenues were 42% higher at US$239m, which drove a 69% increase in net profit to US$140m. Earnings were up 67% to 100 cents. Although Burren’s attributable production fell 14% to 19,200 barrels oil per day as higher oil prices triggered an increase in the local Governments’ take, this was more than made up by the 38% increase in average realised price to US$60.5. Net cash balances increased from US$125m to US$215m. Burren’s recent trading update trailed a change in focus in Turkmenistan from exploiting development wells towards water ...

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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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