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Burren Energy - Switching focus towards exploration

September 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 latest trading update covering the six months ended 30 June was initially taken badly by investors after it lowered its 2006 production guidance by 8% to 33-34,000 barrels oil per day on a working interest basis. However, this reaction is slightly harsh given that this figure represents year-on-year growth of 17%. In any case, the reduced guidance is not because of technical problems but rather down to increased focus on exploration and water injection wells as opposed to development ones. Nevertheless, the jury is still out on whether Burren can funnel the cashflows from its production success into making large discoveries, akin to its M’Boundi field in the Congo. Its trading statement unveiled preliminary s ...

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Burren Energy - Switching focus towards exploration

September 2006

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