After the recent bounce back in burrens share price do you think their set for another good run

There's been no life on this thread for a few months. Is anyone else still holding these?

Here's a post copied from advfn, Motley Fool, Sharesforum and iii. If you are into oil stocks, get into BUR. No ramp - watch this one go on Tuesday when they issue the RNS. Results for 2004 due 4th April with a reserves update also promised. Reading the news from Maurel and Prom the reserves update is already out of date. Concensus EPS for 2005 is now 67p so they are currently sitting on a forward PE of less than 8 - and that's before this news.

Press release of March 24, 2005 CONGO:
Extension confirmed of Me Boundi towards North - stabilized Production of the well 1001: 4 000 b/j - significant Enlarging of the initial tank Agreement with Total for the marketing and the transit of the production - 4 USD of additional profit by barrel - Creation of value of the reserves in the long term: + 20 %

Me BOUNDI: NEW GROWTH POTENTIAL

The Company has just completed the well Me Boundi 1001 in the North-East of the layer delimited until now by the seismic 3d going back to 2002, on a surface of 50 km2.
The well shows a thickening and a widening of the levels of tanks, with in particular a lower level A whose qualities of porosity and permeability are excellent. It confirms that there are good reasons to think that the final size of the tank will be significantly higher than the estimates taken into account until there and that the axis of development of Me Boundi would be mainly on a North-eastern/South-eastern axis.
It is very good productivity, with flow of 4 000 barrels per day, which stabilizes (in advance of the next wells 600 and 1304), the current output in Congo around 23 000 barrels per day. It confirms the Company in its objective to reach a production higher than 35 000 b/j at at the end of 2005.
In addition, the well 1303 met the sandy formations of Vandji under degraded facies not allowing the introduction of the well. Lastly, in Kouakouala, the purpose of work on well 301, suspended since 2001, was only one test of production of water for a future injection.
SIGNATURE Of a NEW AGREEMENT OF TRANSIT AND MARKETING WITH TOTAL Engaged for several months, the renegotiation of the existing agreements with Total in Congo expiring at at the end of 2005, has ended in the signing of new contracts making it possible in the short run for the Company to very strongly improve its incomes by barrel. Indeed, as of completion, envisaged the next summer, of work to be carried out on the terminal of Djeno, Maurel & PROM will sell in Total its production at the price of the quality of Nkossa (decreased of the expenses of remuneration of Total) at a price about Brent - 1 USD, is a profit of 4 USD per barrel to be compared with the existing contract (even 7 to 8 USD over the recent period). In addition, the expenses of treatment will be gradually brought back around 70 per cent by barrels for 1,5 USD to the origin. Broadly the updated profit generates an additional value by barrel of about 1 USD after taxation, that is to say the equivalent of 20 % of supplement of value for the reserves in the long term.
Lastly, Maurel and PROM and its partners lay out, under certain conditions, of contractual freedom to market the production through the terminal of Djeno (after one preliminary period of about 18 months), with a fair average quality Me Boundi in the long term making it possible to gain approximately 1 more USD compared to Nkossa quality with a selling price very close to Brent.


Yes, that's right. A new well producing 4,000 bpd. $4 per barrel more profit after the new deal with Total. A 20% increase in the size of M'Boundi reserves.

This is the new CNE.

Pond Life

http://www.moneyam.com/InvestorsRoom/ShowPostList?fID=1&tID=2427


Try the above thread !!!!


Mega...

Thanks Mega - no life on that one either.

I'm amazed that there dosen't seem to be any interest in this magic share! It's absolutely storming this week, and has been doing so for the past few weeks (and months) By far the best share I've ever owned.

Anybody else still in it?

I first bought this at around 200p and thought i had done well with a 50% profit, that's probably why i'm not driving a Ferrari ..

Ps princess i think you will find a better thread on here than this one that i started , as there are people in to this , have another look...Cheers JB..

The shares have lost 1 since the Congalese farm in announcement at the end of last week.
However, taking the long term view, you ought to look at it as a kind of 'protection' payment whereby Burren's still considerable interest in country is now secure.
In this case the short term pain will lead to (hopefully considerable) long term gain.
The current price of around 720p may well prove to be a steal IMHO.

DYOR etc.

K******

Big surprise this is down over 5% today. Can't see any news. Any word on the grapevine?

rgrds
gk

BURREN ENERGY DOWNGRADED TO 'NEUTRAL' FROM 'BUY' BY UBS, UPS TARGET TO 1,005P

This was on our traders thread this morning G.

Apart from that I think oil price might have had some effect but like you say 5%? looks well over done to me, see what tomorrow brings.

This one likes to move about, probably down on Dana news.

Over 3% all the same.

Stan >> down today as one hole they have drilled on the burun field has been written off as not comercially viable. Mind you as it is only one of 20 being drilled this year - it is of no great consequence.

rgrds
gk

Thanks G, didn't see that.