Secondary Recommendation

Burren Energy - Shares hit new intra-day peak of 854p

September 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.

Helped by another surge in the oil price, shares in Burren at one point hit a new intra day high of 854p, while its latest trading update also provided further good news. In the first six months ending 30 June, net production averaged 22,200 barrels oil per day (bopd), an increase of 90% over 2004, while current average net production for June is 25,000 bopd, up from 23,900 bopd in May. However, although production volumes are expected to increase in the second half, Burren’s net entitlement for the whole of 2005 is expected to average only 22,500 bopd if the oil price stays at these high levels. This is solely because of a change to its fiscal terms in Congo where because Burren has now recovered its historic costs, its net share ...

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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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