This oil company floated (with a main market listing) in December. Its main production is in Turkmenistan -- it has its own fleet of tankers operating in the Caspian, and on the Volga and Don rivers -- it has profitable production interests in Congo-Brazzaville -- it has been granted an exploration license in Egypt -- it is debt free.

On a p/e of about 14 for 2003, it is not as cheap as it was but I like it as a growth story (particularly if it can bring its gas reserves in the Turkmen Nebit Dag field to market), and a play on continued strong oil prices.

http://www.burren.co.uk

good sustainable growth for this one, as oil stocks go this looks to be a 'safe bet'

Burren Energy PLC
26 January 2004


26 January 2004

Burren Energy plc ('Burren' or 'the Group')

Pre-Close Trading Statement

Burren Energy plc intends to announce its preliminary results for the year ended
31 December 2003 on 5 April 2004 . Prior to entering into the close period in
advance of this announcement Burren is providing the following guidance to
investors.

Highlights :

2003 average net production was 8170 bopd, an increase of 66% over 2002

2003 net earnings and operating cash flow are expected to be in line with
expectations at the time of the Group's Placing and admission to LSE
Official List last December

Seven development wells were drilled in 2003 in Congo (Brazzaville)

Agreements were concluded in January 2004 to acquire new onshore
exploration licenses in Congo (Brazzaville) and Egypt

IT IS IN MY WISH LIST. BEEN MONITORING THIS. THINK WILL DO WELL IN ITS RESULTS. NOT CHEAP BUT GOOD PROSPECTS OF GROWTH, IMHO.

I have seen net asset values on this stock quoted at between 226p and 250p, ignoring the value of it's vast gas supplies for which it has not yet found a way to market. With production rising at a massive pace THIS IS STILL V CHEAP imho.
Regards

I have just topped up on this before the results on April 5th. Seymour Pierce (broker to the co) is predicting earnings to grow from 13.6p to 20.2p and forecasts production to quadruple to over 32,000 barrels per day by 2007.

Burren brought the Nebit Dag oil field on the cheap in 1999. This has proven reserves of 98 mill barrels which will last for a predicted 17 years. Burren has a 49 % share of any prodution from the Nebit Dag with the remaining going to the state oil company of Turkmenistan ...Turkmenneft.

Burren believes that there are great prospects from the vast gas reserves in Nebit Dag of approx 400 billion cubic feet. The LNG (liquified natural gas) market is growing at a far faster pace than oil exploration as gas can now easily be cooled and transported by piplines or supertankers. Nebit Dag is close to the central Asia pipeline system. None of the figures released to date put any value on these gas reserves at all, but they could add an estimated 1 to the share price.

With a number of other licences I have not mentioned and a prospective p/e of 10.1 for 2004, this has to be a stonking buy.

Bur also has 3 licences in the Congo via it's subsidiary Tacoma Resources. The largest is Kouilou in which it has a 35% stake. This contains the M'Boundi oil-field which is estimated to have recoverable reserves of 85 mill barrels. Gross production of M'Boundi is forcast to increase from 4,000 b/d in 2003 to 39,000 b/d by 2007.

French company Maurel & Prom recenly sold an 11% stake in M'Boundi for $50 mill cash plus a royalty of $1.50 for every barrel produced in excess of 14 mill. This would value bur's stake at between 86 mill and 124 mill if full royalties are paid.

great set of reults

Preliminary Results for the Year Ended 31 December 2003

Financial Highlights

2003 2002
Turnover from continuing operations 47.1 m 29.1 m up 62%
Net profit 15.8 m 6.4 m up 147%
Operating cash flow 28.5 m 12.5 m up 128%
Earnings per share (basic) 16.8 p 9.0 p up 88%
Average oil production 8140 bopd 4923 bopd up 65%
Net cash (debt) at year end 17.6 m (11.7)m

and an increase in reserves to boot.




RNS Number:3332X
Burren Energy PLC
05 April 2004



5 April 2004
Burren Energy Plc
("Burren" or "the Group")

Increase in Congo Reserves

Burren Energy Plc announces that, as a result of the four wells drilled in 2004
on the M'Boundi field in Congo (Brazzaville), management has increased its
estimate of proven and probable oil reserves in M'Boundi, net to Burren's 35%
interest on an entitlement basis, to 36 million barrels, compared with 21
million barrels at year-end 2003. This brings Burren's total proven and probable
entitlement oil reserves to 133 million barrels as of today, compared with 119
million barrels at year-end 2003. The new reserve numbers have been calculated
using the same economic parameters as for the year-end figures and the 30 June
2003 figures which were verified by Ryder Scott.

A continuous programme of appraisal and development drilling is under way on the
M'Boundi field with a minimum of 10 additional wells expected to be drilled
during 2004. An extensional 3D seismic survey is planned for later this year
over the perimeters of the field in order to delineate the possible limits of
the structure.

Group production at the end of March 2004 was 11,500 bopd (net to Burren).

ENQUIRIES:

Burren Energy PLC Tel: 0207 484 1900
Finian O'Sullivan, Chief Executive Officer
Andrew Rose, Chief Financial Officer
www.burren.co.uk

Gavin Anderson & Company Tel: 0207 554 1400
Deborah Walter / Charlotte Stone

Notes to Editors

Burren Energy is an independent oil and gas exploration and production group,
headquartered in London. It is focused on two principal regions: the Caspian
region of the former Soviet Union and West Africa. The company is listed on the
London Stock Exchange ("BUR").

Burren's total proven & probable oil reserves as at 31 December 2003 were 119
MMbbls. (net to the Group on an entitlement basis). In the Caspian region of
Turkmenistan, Burren has a 100 per cent. working interest in the Nebit Dag PSA,
which contains the Burun oil and gas field with net proven and probable oil
reserves at 31 December 2003 of 96 MMbbls. In the Republic of Congo
(Brazzaville), Burren has working interests in the M'Boundi, Kouakouala and
Pointe Indienne fields with aggregate net proven and probable oil reserves at 31
December 2003 of 23 MMbbls, of which 21 million barrels were in M'Boundi.
Significant exploration and development programmes are planned in Turkmenistan
and the Congo in the coming years.

>> Ricardo, thanks for the posting. I have just got back from 2 weeks holiday and the share price has flown from about 222p to about 260p. I had not noticed the increased estimate of reserves at M'boundi from 21Mill barrels to 36M before I left (but thought the share price jump had been in expectation of good results - which as you are aware were delivered). This news alone I reckon should increase the value of the M'boundi reserves by about 100mill. This is a back of a fag packet calculation, but is based on the original 21 mill barrels being worth approx 100 mill. Bear in mind that with Maurel & Prom a $1.50 royalty was paid on barrelage of over 14 mill which skews the figures, and means aditional reserves become proportionally worth more.

The announcement of the increased reserves at M'boundi was a very brief statement and subsequently Finian O'Sullivan has said that the figure could be 50 mill barrels. It seems conservative in any case. I did read a while ago that they had yet to find the oil/water mix in M'boundi which would indicate that they had reached the bottom of the field. I am not clear as to whether this is still the case or not.

I suspect that the value of the M'boundi reserves will be worth at least 250 mill in total, which leaves the balance of the market cap of burren at about 100 mill. This is an absurdly low figure since Nebit Dag has vast reseves and provides the lion share of oil production to date. Burren south has large untapped reserves, the other Congo and Egypt licenses will come on-stream in due course, and no account is taken of the vast gas reserves that burren has. Add to that, that production should double for each of the next two years, and you should have a share that will continue to soar.

Dyor.
Regards
gk

Another healthy 3% rise today!

gallick,

I agree, shame I only watched rather than buying, but only have so much money!

>>Andy

I know the feeling ... too many shares to buy, but no point in spreading your cash too thinly! If you are not in this share though, I think it is a good idea to have some money in at least one oil stock. After all like all commodities it has finite reserves, we are all guzzling more fuel (paticularly the Chinese now), the Iraq (and Venezuela) situations look dodgy, and there is always the potential fall of the house of Saud. The later would have a prolific effect on oil prices which would soar.

I am sure you have shares that I would love to have bought when you did!!

Regards
gk

gallick,

I hold PRE, (from 60p! lol!) JKX, and am looking at Teton (US) and Lukoil.

>>Andy<<

You are in a couple of cracking stocks there imho. I was in JXK at 38p, but got bored and bailed out....what a mistake!! Many of these oil stocks are tantalising. I am in Dana as well but have been looking closely at Regal and Cairn (which still may continue to go from strength to strength).

Burren down 4% today but I'm not too bothered, since I'm up 40% overall. Momentum Investor consider it a 'multibagger'over the medium term, and at 270p it qualifies as a bagger for the first time!

Rgds
gk

gallick,

Burren falling may indicate a possible buying opportunity soon, they certainly look like a decent investment...I have been watching, and if they fall back some more will look to dip my toe in.

i may go for Melrose and JKX too, oil and gas seems to be the place to be at the moment...

>>aimtrader

Agree with your sentiments. I believe even Tony Blair is getting concerned about the oil price hitting new highs. The 'driving season' is about to start in the US and their stocks of oil are I understand incredibly low. I heard on the radio that world oil reserves are going to run out by 2040. Of course we have all heard that one before, but in the stockmarket it is sentiment that counts.

I think taking a position in a number of smaller oil exploration stocks makes sense. Admittedly some profit-takers are moving out of burren. It obviously makes sense to take some profit but with these types of shares, all it takes is one trading statement saying reserves are higher than expected ....and bingo. I like burren because they are not too concentrated in one region...this is the potential danger ...eg ramco.

Bingo today. M&P seem to be finding more oil in M'boundi and burren have a 35% stake. I think the downdraft may be over for now but there does seem to definately be a big speculative bubble in oil.

Rgrds gk

Nice healthy rise today - up 6.8%!

Oil price coming down, burren going up (today at least). Maybe the speculators have been buying oil futures not oil companies! Analysts reckon speculators are responsible for $5-10 in the oil price.

regrds
gk

BUR has really been motoring in the last week. Anyone know why? - maybe in the slipstream of Cairn...

Shares Mag says BUR has signed a PSA with the Egyptian govt for its concession in the Western desert.

A bit volatile at the moment. Down 7% yesterday, so I took the opportunity to top up. Up over 6% today. IMHO hanging in there long term makes sense.

rgrds
gk

Hi Gallick,

Don't know if you've read this post from advfn. Bur well undervalued.

From Peel Hunt
30 June, 2004
1 of 1
News Extra
Tony Alves Oil & Gas +44 20 7417 8813
Burren Energy (BUR) 310p Mboundi Drilling Update BUY
Results of the 801 well on the Mboundi field in Congo, with a further well, 701, due for completion in the next
few days, have extended the limits of this field yet again.
Our 260p Core NAV is includes only the companys last published view on reserves. There is every prospect
of the numbers doubling or trebling and our Upside NAV of 502p may indeed be conservative.
Burren has a 35% interest in the Mboundi field in Congo and in the surrounding exploration acreage.
Reserves in the field have increased from 85 million barrels (gross basis) in the companys IPO prospectus in
2003, to 175 mmbbls as outlined by the company in March 2004. The operator of the field, Maurel & Prom
recently estimated field reserves of over 450 mmbbls with additional possible reserves of 370 mmbbls.
If this more extreme level of upside is achieved, Burrens interest in Mboundi alone would cover 530p of the share
value and the Core NAV would rise to over 680p per share.
In Turkmenistan, Burren has 100% of a production sharing contract and reserves of over 100 million barrels with
existing and growing production.
There will be some useful exploration drilling in Turkmenistan later this year and into next year.

Go baby go!

>> salford

Thanks for that. The real puzzle is that the share price at launch was a mere 135p and that is less than 10 months ago! They seem to keep finding oil and comparatively, look far more attractive than others in the oil exploration sector IMHO. I can only see upgrades on reserves at Mboundi (and don't forget those gas reserves(do you know if Peel Hunt have factored them in)?
rgrds
gk

No value currently attributed to the gas reserves

Cheers beaufort.

All looks good. May be a slight blip next week as profit-takers come in following the recent spike. But you can't call the top of a graph that looks like this!!

BUR roaring up again this morning. 368.75p when I last looked!

378p and counting.

According to Reuters ,today's fall is due to a large stake being placed. Don't panic!!

Thanks johngtudor but can you explain what this means and why it should result in a drop in price?

cheers

The market has seen a seen a large seller of the stock and anticpates further disposals, which might upset the market's liquidity of the stock. This lower price may offer a good short term buying opportunity if your are a long term holder of the stock.

That was a large stake, is this going to continue to drop the price??? Is this going to cause a mass of selling in the morning????

Thanks for the info.

I suspect that such a large drop in the price has also triggered a number of programmed trades. Hopefully there will be some news on this before the market opens tomorrow. What we really need now is for Burren to announce some positive results from its second exploration drill. In any case I shall post as soon as I hear something and remember it is never a bad thing to lock in your profits.

I've taken the opportunity to top up again. It is possible there might be a further shake out tomorrow, but it is just as possible that there will be a bounce IMHO. There should be support at 3.10, which was the point from which the last find was made. Long term this is a buying opportunity, short term... well...this is the stockmarket after all!

rgrds
gk

I have found this on Citywire which gives a nice post drop glow and IMHO bodes well!!

James.

Burren Energy (BUR) said 24.5 million shares had been placed by development capitalists on the advice of brokers following a surge in the groups price since its float on 11 December last year.


The company confirmed the entire placing had been snapped up by institutional and pension funds.


Burren Energy was the day's weakest mid-cap, plunging 36p, or 10%, to 325p as rumours of the placing triggered a sell off.

For you guys (press mention : will appear in the Times Newspaper tomorrow) :

Burren Energy, the oil and gas vehicle with interests in the Congo, shed 36p to 325p from Mondays record high as Seymour Pierce, the house broker, placed 24.5 million shares, or 17.5 per cent, at 325p on behalf of a group of pre-float private equity investors. The broker waived a lock-up arrangement which is not due to expire until December, the first anniversary of Burrens 130p debut in an effort to broaden its investor base.

http://business.timesonline.co.uk/article/0,,8211-1178383,00.html

Burren Energy drained by founding investor sell-off

Burren Energy tumbled 10pc yesterday as a number of founding investors sold 24.5m shares, representing 17.9pc of the oil and gas exploration group.

The companies had invested in Burren when it floated at 130p last December. Traders said Capital Group, AIG and ING were among the investors reducing their holdings although chief executive and founder Finian O'Sullivan is understood to have held on to his 4.4pc stake.

Seymour Pierce placed the shares at 325p. Burren Energy fell 36 to 325p.

extracted from today's Daily Telegraph.

So it was an agreed sale and the price was dropped to accomodate the Institutions at the expense of 'other' investors. It is good to read that the CEO held onto his stake and the lower BUY price clearly offered a good opportunity for those looking to top up!

Oil and gas exploration group Burren Energy bounced 12 to 337p. Traders said the placing of 24.5m shares by founding investors on Tuesday had been oversubscribed. Investors are hoping that Burren Energy's interim pre-close trading update, thought to be scheduled for Monday, will be positive.

Up again today. W'ont be long before we are at new highs (above 380p). Good to see Finian is hanging on to his shares. He is the man that counts IMHO.
Rgrds
gk

Yep, and now closed period is upon us selling's out of the question till after the interims in Sept (not that I'd expect him to with this gem of a company he's running).

With huge rises in production, reserves and revenue, and with the potential for much more to come, I can't think of a better and safer share to be in at the moment.

Big buys today,too. Looks good for tomorrow.

Just my opinion of course.... and we all know the risks.

Good luck.

Interesting that the share sales by initial investors were subsequently snapped up very rapidly, and tucked into the pension funds of the knowledgeable fund managers/brokers. They know which side their bread is buttered on!!

Short term, I think 4 is a given, and 4.50 is reasonable (although this understates). Beyond that I think we need further news, but I have a sneaking suspicion...... that we may get it!!

Rgrds
gk

Just noticed, because it is 12.15 a.m. on Thursday Morning (I know I'm sad) that Shares mag is online. The cover story mentions BUR amongst others, and that 3D seismic results from Nebit Dag will be known at the end of the month. Depending on your persuasion (or whether you were into Apocalypse Now), it is time to hang on to either your hat or your balls (apologies to all female posters).

rgrds
gk

Wells 701 and 801 in M'Boundi have both found oil testing at 5400 bopd between them. No water was found, which as I understand it, means that they have not reached the bottom of the oil reserves and could mean reseves are greater. All looks good to me, including the figs. Bit surprised by the 5% reversal today, but can expect volatility in this stock.

rgrds to all
gk

Mark Watson-Mitchell came out with a cracking review of Burren todday on his Web site (watshot.com), which I commend to you, if you are not already a subscriber. Anyway he sees the share price rising farily rapidly up through 4 in short order. Lets hope he is correct, but it will require a good flow of corporate news from Burren. They should be able to provide it given the exploration activity, September Interims, and a major review of reserves, all scheduled over the next few months. Yesterday's fall in price was according to Yvette Essen in the 'Torygraph' due to Canaccord Capital cutting its rating on the group, saying the share price is now well ahead of its fundamental value estimate!! Although I would appreciate it if someone could get hold of a copy of this report, it seems to me like a good opportunity for the Institutions to bring the price down as they continue to top up, particularly as the recent share placing was over subscribed.

It is also becoming clear that BUR are cautious about upgrading their reserves, and are definately not ramping the share price. They still have not upgraded M'boundi reserves from possible to probable. If and when they do....!!

Re your last point on reserves....at the end of last week Maurel & Prom, Burren's French operating partners in the Congo placed significantly higher values on the M'Boundi wells than Burren has declared. So the outstanding question now is whether Burren will make an announcement or remain cautious?

Had a look at recent trading volumes. Since the recent "placing" two weeks ago, volumes have been higher on the days that the price has risen compared with the days of falls. A good sign that the stock still has upward momentum.

rgrds
gk

Seems to be ticking up again. Has had 5 up months, 2 flat months, and no down months since launch. Can't complain about that!!

Agreed gallick, such a powerful chart, esp. when you factor in the recent placement.

Hoping for 4 soonish and 'thereafter who knows'.....always like a nice clich

Moving towards a new high. On the back of increased oil prices, or as we head towards next months interims? Who can say, but I'll take it!!

The reason this share is going up is because it's a great value/growth company. Production is rising exponentially as are reserve estimates.

With many other oils it's all jam tomorrow - drilling reports 6 months to 3 years away. Not a great problem with the oil price at $45 but when this drops (as it will) and when the Dow tanks (which is looking likely) well basically 'head for the hills'!

When times are tough everyone thinks in the present tense...basic difference between bulls and bears - a survival instinct in other words.

Cne, Bur and Mrs, only show in town!

All in my opinion I should add.

Good luck.

>> Salford - points well made.

Whilst I accept that there is a bit of a speculative bubble in oil at the moment (geopolitical risk is currently rated as having put about $10 on the price of oil), I can't see the price coming off much, if at all. Oil production can only be lifted slightly by OPEC, otherwise we are at virtually full capacity. Production should peak in about 2010, then it is downhill all the way. Consumption continues to rise (China, India etc)

In other words we could be at the start of a sustained oil price rise well into the future. Those companies with oil still not discovered, may find that oil much more valuable when they find it.

Maurel & Prom press release (extract roughly translated from) - 17-8-2004

CONGO: SUCCESSES OF THE WELLS M' BOUNDI 802 AND 105.
New significant extensions of the oilfield to the east and the south.
Output of approximately 15 000 b/d

Extending the south-eastern part of the oilfield known to date, the well M'Boundi 802 shows the existence of a reservoir VANDJI B of more than 50 metres without presence of gas. On the whole it is nearly 117 metres of reservoir which were recognized by including VANDJI C which confirms the excellent growth potential in the eastern part of the structure. In the south of the structure, the well M'Boundi 105, met reservoir VANDJI C as envisaged, and also takes part in an important widening of the oilfield.

In terms of production, and in spite of the provisional stopping up of well 801 because of an important find of gas, the delivery of wells 802 (3400 b/d) and 105 (2200 b/d) increases the Congo production due to Maurel & Prom to roughly 15 000 b/d in conformity with its objectives.

This rapid increase confirms the capacity of the company to achieve its own goal of 20 to 25 000 b/d at the end of the year, (and) to even exceed it depending on the results of the wells to come. Drillings in progress will make it possible to accelerate the delineation of the oilfield towards the East (M'Boundi 702) the South (M'Boundi 106) and the West (M'Boundi 901).

Finally in addition to the 3 rigs now operating, a 4th rig should be brought into service next September with the prime objectives being the resumption of drilling of a well on the Tchiniambi prospect and of drilling a new well in the Kouakouala prospect.

Johnho,
Thanks for the post. As usual we have to go to M&P to find out what's happening with BUR! Still, it keeps us one step ahead of the market.
Pondy

Go on BUR, get up there.

Put this on your monitors, much action beckons over the next 10 days.

Interim results out today. Look encouraging.

What a poor reception for a great set of maiden interims. It will be interesting to see how this develops over the next week or so. Have we had a one day sell off? Will we now enjoy a positive press to tempt back the buyers? If ever a company deserved a good market reception for its results then its this one. So far they haven't put a foot wrong. Sometimes I just can't fathom out this game.

Pondy

I totally agree with you pond life, you can get companies bring out bad results, widening losses and, lower turnover, but go up because the outlook is good, as you say strange old game, still we believe in the future of this company , and you only have to look at cairn energy to give yourself a reason to hold. All the best.

SP blasted up today almost 6%. It is always a good sign imho when the sp rises after the results as it usually means that analysts/fund managers have had a good look at the figures, prospects etc mulled things over and decided to buy/top up . Alternatively could be details from those recently drilled wells.

I suspect the reason for the fall on the release of the figs, was that there was no upgrade of reserves in M'boundi, but as before I think management are fairly conservative in upgrading, which means of course that there could be hidden good news to come in the future.

Would expect some profit taking tomorrow, but continues to look a good long termer in my book!

rgrds to all
gk

Sorry my last post was wrong. M'boundi reserves were upgraded from 0.9bn barrels to 1.3bn. This explains the rise in sp.

Absolutely storming ahead! Roll on 5

Anythings possible, would like to think that this time next year , we will be looking at 7 +, Good luck all.

My 3 favorite things are:-

1) BUR
2) Making money
3)Driking a swift half of or several of the local brew
Oh and I almost forgot since it's been so long...sex

LOL
MS

Post from Philou100 (competitors site)from M&P interims. Seems like they expect 5/6 wells by xmas - nice hit rate.

Summary (for burren's investors):

The association has 20 wells on production (31/12/04), on mboundi field.

Future:
The programme foresee the delivery of 5/6 new wells (31/12/04), allowing to boost the delineation of the field.
The target of 20/25.000 bopd - for m&P- for year-eend - without the impact of the potential of KK well - will be in accordance with the forecasts.
Capital expenditures -M&P- are up to 50/55M (2004).

New study will be launched up for the implantation to a new pipe (12 inch), because the current network of pipe limit the capacity to 60.000bopd (level which wouls be reached round june 2005).

2 wells will be carried out , the first on Tchiniambi en the other on KK north.

Exploration and delineation wells will be carried out in 2005 on basis of the results of the ongoing seismic campaign, with a well on the prospect Diosso (pointe indienne) , an other on the prospect of KK, and a third on the prospect of Doungou (La Noumbi permit).
Furthermore, 2 oer 3 exploration-delineation wells are foreseen on the potential of the (potent.)stretched areas of Mboundi.

The 2005 campagnain involves 20/25 wells (for a amount of 70/80M$- for m&P-).
Turnover: 260M: net income: 130/140M (with a barrel at 30usd).

salford: Thanks for this excellent news....I extract the comment to savour...a new pipe (12inch), because the current network limits capacity...wonderful news. Still I expect Burren's SP to fall tomorrow due to the hit on Oil Futures...having said that it does not seem to have risen in line with the Oil Price increase anyway. Methinks Burren may be taken over sooner rather than later at this rate. Thanks again Salford.

So who gave these a big slap today? Totally unjustified on minimal volume and a fair ratio of buyers to sellers. Looks like a classic buying opportunity.

Pond Life: I agree, we are looking at a bottom. I am just waiting for the RSI to suggest a turn of momentum before jumping in.

What makes you think this is a bottom? Wishful thinking maybe?
From a chart perspective 375 or even 330 is the next stop in my opinion. I've sold but will buy back in when it's going UP not down.

Harlosh: Well at the moment you are right, no bottom has been signalled. I am just looking at the standard supprt/reistance levels + 50 day ma from this years assent. At the moment we are either going to bounce up, or if the SP continues to fall, then clearly the next stops are 375p or as you say 330p. We will see.

Pond Life: Reasons for sudden fall in SP:
1. Possible Yukos resolution, 2. Falling World oil price, 3. Someone confused over French Action in Ivory Coast being near Congo!

In my opinion a good opportunity to see where the support lies before next push up of SP into New Year and results season. We shall see.

Bottom at 400 intraday today I hope. Another big slap, but more sellers than buyers. Could be the MMs manufacturing a drop to shake out the stops. Lots of small sellers jumped ship. Or am I just a conspiracy theorist looking for excuses?
When is the next drilling update due? Aren't we due some news from Turkmenistan? We need something to get this moving north again.

Pond Life

I think it's dangerous to look for reasons for the fall in price. What you are really doing is looking to justify why you should hold when the price is telling you to sell. It may bounce back suddenly. But then again it might not. I'm not prepared to take the risk.

Perhaps the market knows something we don't and are off loading before the news comes out. I don't know. But discipline on stops is essential for survival.

With BUR we can expect up to 7 successful wells (including Burun south) by end December - almost one a week in other words. You can probably double this figure again for March 2005. The only problem they seem to have is that the capacity of the Congo fields can't cope with the amount of oil they're finding.

Trouble with stops is that you need to find another share with the same potential rewards - difficult as all shares have good and bad days/weeks.

Bur ,however, is an exponentially expanding company producing a commodity in short supply; and the Congo fields are one of the most exciting world class finds in the last 20 years of oil exploration.

This share is massively undervalued imo, so I'm going to sit this one out until March 2005 when I expect SP of 700 - good enough for me considering the risk involved.

From Geoff Foster: Daily Mail: Yesterday's Trading:

Rumours of a possible fundraising - denied by the company - to help finance the exploration of its interests in the Congo prompted selling of Burren Energy, 19p down at 416p.

Salford,

I think your probably right on Bur's prospects but holding while the price is falling so dramatically is still dangerous IMO to one's wealth. Down another 13p today. I think it is a fundamental principle to cut your losses or protect your profits. After all you can buy in at a cheaper price when it (hopefully) turns upwards again.

I agree. I bought at 340 and sold at 440 ( I think) so a nice little earner. Won't get back in just yet but great potential.

MS

Harlosh,

I agree stops play an important role, but I tend to use them primarily on speculative/illiquid shares and not on value growth companies that are massively undervalued.

Of course, if there was a reason for the recent fall, I would be out like a shot. Just that there isn't any bad news apart from a few rumours in the press regarding the lock in agreement with founding members. The story not only continues in other words but is getting much much stronger.

Anyway, good luck with your trading. I'll stick to my exit plan of 700 in March.

Cheers

evening all,

have been buying these over the last couple of days on a cfd for a long term hold,looks good to me !!!aint got a clue how far they will go,but they will rise for sure :-)

RE:last post 700 looks good!!!

Enjoy the coming days

Mega...

You have to bear in mind that Bur is now a mid cap 250 stock. A lot of fund managers are rotating out of Oil stocks, taking their profits and saying thanks very much. I think that is a mistake because bur seem to understate their assets. I have been in since 186p - not bad over 1 year. I would not sell on the basis that I have not heard any bad news (it only seems to be good). Also, when an oil company has found a big oilfield (like M'boundi), very often news of reserves just keeps on coming. It has 3 times so far and there may be plenty to come. If you think the oil price is down to stay, think again - there are growing and increasing signs of shortages. I can't think of any longer-term oil stocks I would rather be in and I do like a few others.

rgrds
gk

My only grumble is with Harry Hindsight - why oh why didn't I see the top of the market and sell? I could be buying back in now with cash to spare. I agree that BUR will bounce back. There is no reason for the fall and the company is still very sound. Lots of good news still to come.
There is lots of BB speculation surrounding reasons for the fall. The only one that I think could be valid is the possibility of founders selling out when the lock in period expires next month. I read on another BB about speculation that a placing is already being arranged and that is why the SP is being manipulated lower. Conspiracy conspiracy.....

Update from m&p. Flow rate restored on M'Boundi 703 - 3.500 b/d
Results of 3 new wells expected in 2/3 weeks.
Link posted in French.

http://www.maureletprom.fr/files/news/MaurelProm20041114CPFra.pdf

Big drop today. There's got to be a reason for it somewhere.

It seems that the main factor is that founder shareholders could sell large tranches of stock, when their lock-in agreement expires in early December. Also it appears that rumours of a bid from Indian Oil Corporation have faded.

In short nothing to do with the long term fundamentals of the company which look rock solid. I do not think the falling oil price has much to do with it and the stock looks cheap to me now, particularly as there is likely to be more good news to come soon. I'm holding tight, but would like to be buying!

rgrds
gk

Burren Energy PLC
16 November 2004


16 November 2004

Burren Energy plc ('Burren')

Drilling Update : Congo (Brazzaville)

An announcement was made on 15 November 2004 by Maurel & Prom, the operator of
the Kouilou and Kouakouala license areas in Congo (Brazzaville), that well 703
on the M'Boundi field had been tested at a stabilised flow rate of 3,500 bopd.

Development and appraisal drilling on the M'Boundi field continues with 3 rigs
in operation. A fourth rig is currently engaged in drilling a step-out well on
the Kouakouala field.

ENQUIRIES:

Burren Energy PLC Tel: 0207 484 1900
Finian O'Sullivan, Chief Executive Officer
Andrew Rose, Finance Director

www.burren.co.uk

Amazing! A really upbeat news update from Burren Energy which puts a much more bullish slant on the excellent progress being made in the Congo and sets the record straight in Turkmenistan, where the Market`s negative interpretation of the Company`s recent statement on propects for the new deep well was obviously quite wrong.

oilbarrel.com
03 Dec 2004
Burren Feels The Pressure In Turkmenistan And Its Shallow Wells Continue To Make A Quick Payback
Results from Burren Energys B060 exploration well on the south flank of the Burun field onshore Turkmenistan will be delayed for a couple of months while the London-listed company brings in special production testing equipment capable of handling the very high downhole pressures.

These high pressures are quite normal for deep wells in the Caspian Region, although the pressures are higher than they originally expected, said a spokeswoman for the group. Theyve ordered in some strong equipment capable of dealing with these pressures and that should be there in a few months.

Well B060 was spudded in early August and, after a side-track, has now reached its target depth of 4,150 metres. It has been suspended until the specialist equipment arrives.

Everythings going well in Turkmenistan, added the spokeswoman. Everythings on track. Theyre just waiting for the right equipment. And the shallow drilling programme is going well.

Burren holds 100 per cent of the Nebit Dag production sharing agreement area in western Turkmenistan. The Burun oilfield is the companys main focus. It is the western-most field in the PSA area, which is also home to three other producing oil fields and two gas fields as well as a number of other prospective oil and gas discoveries and exploration prospects. The company is making good progress in hiking production from Burun: in its current work programme seven shallow wells have been drilled boosting production numbers in increments of about 250 barrels per day. These shallow wells cost about US$250,000 to drill, making for a quick return on investment. This, together with a four-rig workover programme, continues to increase field production which now stands at 18,200 bpd (11,200 bpd net entitlement to Burren). This represents an increase in gross production of 14 per cent from mid-year.

The company is also seeing rising production numbers from its Kouilou and Kouakouala licence areas in Congo (Brazzaville) in West Africa, where an extensive drilling programme is underway. Last month the company revealed that well 703 on the MBoundi field, which seems to exceed expectations with every well sunk, has been tested at a flowrate of 3,500 bpd. This followed hot on the heels of the success of well 106, which flowed 2,000 bpd during testing, and wells 702 and 901 which flowed 2,250 and 1,400 bpd respectively. This spate of drilling success looks set to continue as the block operator, French outfit Maurel & Prom, has three rigs currently engaged in appraisal and development drilling on MBoundi and a fourth is drilling a step-out on the Kouakouala field. The company looks set to exit the year with a healthy production lift: at the time of its interims in September - prior to the completion of wells 106,702, 901 and 703 - its Congo assets were producing 26,000 bpd. That number will rise as the wells are hooked in and put on line, bringing more good news for Burrens investors.

Been a while since anyone posted on this.

I'm still very long and the sp is doing just fine atm. Think 600 is on the cards soonish.

salford
Excellent couple of weeks I agree and the sp is strong at the moment whipping through resistance levels without too much bother. Bought in @ 469p recently so I'm quite happy! Lots more to come from BUR in the future as well.

Greetings,
And there was me thinking that I was the only one left holding these. Have held them on and off since 243, so they've put more than one smile on my face.
Came to grief on my last spreadbet though, so I've been a bit wary of opening new positions. With today's breakout confirmed I have opened a new position - either we will sale through 6 or that will be the signal for them to tank.

Pond Life
I just wish I'd kept my original punt at 1.93! Sold @ 4.16 but bought some more recently at 4.69 and added a few more shares this morning. HorneBlower (excellent poster)on ADVFN expects these to sail through 5.80 quite easily in the next few days -> fortnight.
Lots of oil left in BUR!

I first bought at 186p, have never been out since then, and am still holding. Admittedly, I have reduced and repurchased a few times. I bought twice at around 460p recently when the value seemed unjustified.

I think the long term future looks good - the buren field (turkmenistan), Mboundi (reserves keep rising), Egyptian possibilities and now Indian possibilities. Also big gas holdings not factored into the price. Adding the fact that the market thinks that oil prices are going to tumble and they are clearly not, and a low prospective PE going forwards - I still think this stock looks good - infact it's the largest holding in my portfolio. In my view it will enter the FTSE 100 in the not too distant future.

rgrds to all
gk

Agree with all comments. BUR is a quality oil stock - only wish I could afford more. I also read advfn and Hornblower (liked the books when I was a kid). I am hopeful for the price hike to 580. If we do have to wait a while then so be it. If not before, the interims should be so spectacular that they will almost certainly see the price in the 580 - 600 region. BUR have been selling oil on the spot market, having hedged very little. With oil having averaged over $50 so far this year that will have lit the fuse on their profits.

BUR went ex-div today. Trebles all round! A good price recovery late in the day restricted the ex-div losses. Expecting a solid move back up on Thursday.

When is BUR interim's report due?

No date yet - but probably late August to early September.

Solid move back up duly delivered - currently +13 having been +20 earlier this morning. What a stock!

Onwards and upwards to new highs. A strong finish above 570. Roll on Monday.

i work with a burren holder, wish i had listened to him a few months ago!!!

too high for me now, but i expect it will continue to rise a good bit more...

aimtrader
If you have some cash to put in for a year or two you will see a very decent return on any investment in BUR even from this level. The recent bull-run has merely been a "catch-up" phase following a couple of months in the doldrums.
DYOR!

Another strong start today. 6.50 will come sooner rather than later.

Onwards and upwards ...

We should expect a trading/operations update in July.

Next exploration drilling news should be M'boundi south ...and possibly Egypt.

Don't you just love days like this?

No, cause i sold BUR some time ago !!

Anyone know why the rise today?

Sorry jimmyb. I closed a number of spread bets a few weeks ago when the share price was on its backside - I took a horrid loss. If I had had the courage to hold on, I would have been several thou richer today - but I'm not and that's the way this game goes. I did however, jump back on again when BUR hit new highs, so I have salvaged something from the meteoric rise.
My LTBH shares remain intact. I predict 6.50 - 7 by the end of the year.
gallick - today's rise could have been caused by so many things. $ recovering on FX markets means that $ oil profits are worth more on translation to sterling. Shell commenting that $40+ oil is here to stay. Growing realisation that BUR is undervalued with 2p reserves valued at 650 per share and if EPS does hit top estimates of 92p per share this year then the stock, even now, sits at a forward PE of less than 7. So far this year BUR has already hit year end production targets and with most oil unhedged and selling at spot prices, then with oil currently averaging $50+ BUR must be creaming it. They must be swimming with cash. They can pay for the Indian expansion out of cash flow.
I predict more great days to come - but maybe not tomorrow!

Pondy

Pond Life your right,thats the way it goes sometimes.I may have another bash on the next rise..Cheers JB.

What a week. Closing at 640 and still looks like there's more in the tank. 7 could come next week (kiss of death). If not, the interims will contain good news and the run in will see the shares move up strongly.
Interesting that TOTAL are looking at M&P. They would also want BUR's share of M'Boundi, so a good deal could be on the cards here. BUR to sell their stake for a wad of cash and re-invest in India? Stranger things have happened. Recent sales of oil assets have seen huge prices paid, so any deal could set the share price soaring again. I am certainly not even thinking about selling just yet. 10 is my target.

well my last post was spot on!!!

Sad for you aimtrader. This share is now climbing the 'wall of worry'. Does it carry on rising or will it pull back? For what its worth, I think that we still have far to travel and we'll look back on this in December and say 'weren't they cheap'. If we continue the rise tomorrow I'll be adding again.

Aimtrader

Seems to be a total silence about BUR. Is everyone in shock ~? or just holding their breathe ?
666 today. Is it worth going in at this price? is there still an upside?

Did quite well earlier in year but lack of recent news lessens my ardour.

what say you?

CrispyD

A strong finish today pulled back some of yesterday's losses. For what it's worth, I think we'll mark time for a few days before climbing again towards the interim results which, I predict, will be spectacular.

Flying again today. Easily cleared 7. Added to long position via sbet.

Still flying - up another 20p today so far. Profits forecast upgrade by one broker (sorry - name escapes me) estimates EPS at 95p for 2005. Therefore still on a PE of just 7.5. These still have a long way to go. Next stop 8. Anyone else out there still enjoying the ride?

Pond Life
Very much enjoying the ride! See no reason to sell anything for some time. My only regret is that I hadn't got more in!

Pond life closed at 750p today ,,i see you predicted 800p 3 weeks ago , i think that's coming soon,,jumped back in on these a few pence ago.Cheers JB .

Anyone still in Burren since the recent drop from 11 ,(i am ) all oilers look to be languishing at the moment ,,anyone still holding ,,and any view ???

Looks like no one is took a bit of a battering today ,but would expect it to bounce shortly.

I'm still here and nursing the best part of a 175 point drop since we hit 1100. Not nice, but I've held on because whenever I've sold BUR before it has bit me on the backside and I've paid more to buy back my position. This is still a quality company and the story hasn't changed. This drop is just down to sector rotation and a falling oil price ('collapsed' to $60 - the end of the oil world is nigh - errr... not)
With record results to be announced next month these should climb back before too long, but possibly not before I have had to change my underwear.

Cheers Pond Life ,i'm holding because like you i have sold and its gone straight back up .Are results on April 4th or have i got that wrong ? ...
PS you should change your underwear before they bounce back anyway.

There we go pushing back through 10 , now can we hold it this time .

We're back through the 1000 barrier. Onwards and upwards. I reckon we'll be back to 1100 by results and then its on to new highs. I opened a new sbet position almost at the bottom of the dip, so I'm doubly enjoying the ride back up.
Glad you held on Jimmy?

Im not going anywhere Pond Life , like you say,, first stop 11 and then its onwards to new highs ..

Haven't posted for many months, but am still in and looking forward to results.

Still moving up. We have had 8 straight days of rises. What a nice bounce!

When are the results?

30th March

excellent results are out on thursday and with the share price having dropped from a high of 1096 in january to 1033 today I'd say this could be a bargain share. buy today and sell on friday for a decent profit.

Or not sell on Friday for an even bigger profit .

LOL. The BUR story hasn't stopped just yet. Thursday is just another milestone. Given the market reaction to the DNX results today, we can look forward to a bright day on Thursday. I reckon BUR will reveal EPS of 110p give or take. With Dana now on an historic PE of 13.6, this would equate to a price for BUR of somewhere north of 14. We should all be so lucky!

Lets hope so Pond Life , some drilling news would be nice too , + the oil price being up this week ,all looks good .

Any view on this drop Pond Life ? i won't pretend to understand this one , just about to reveal good results (i think) ,and it gets hammered .

Copied from the other side , only piece of news i can find...

From Bloomberg (public news):

Burren, Maurel & Prom Shares Fall on M'Boundi Reserves Concern
2006-03-29 10:32 (New York)


By Simon Packard
March 29 (Bloomberg) -- Shares of Burren Energy Plc and
Maurel & Prom SA, two European oil-exploration companies, fell
after a minority partner in a Republic of Congo oil field cast
doubt on their reserve estimates.
London-based Tullow Oil Plc, publishing 2005 earnings
today, said estimated gross reserves of the M'Boundi oil field
are between 1 billion and 1.3 billion barrels, of which it
expects to recover about 21 percent.
``Maurel & Prom and Burren have a more upbeat view on the
reserves' than the more ``conservative view on the field' of
Tullow, said Charlie Sharp, an analyst at Jefferies International
Ltd. in London.
Burren Energy shares declined as much as 8.9 percent to 937
pence in London and at 4:28 p.m. were 71.5 pence lower at 956.5.
Maurel & Prom shares dropped as much as 7.7 percent to 17.28 and
at 5:28 p.m. in Paris were 1.35 euros lower at 17.37.
Tullow has an 11 percent stake in the M'Boundi field, which
is operated by Paris-based Maurel & Prom. London-based Burren,
which publishes 2005 earnings tomorrow, has a 35 percent stake
in the field and currently estimates M'Boundi's gross reserves
at 1.6 billion barrels.
Maurel & Prom, which has a 54 percent stake in the M'Boundi
field, has hired reservoir engineers DeGolyer and MacNaughton to
evaluate its reserves and will report figures on April 21.
Officials for Maurel & Prom declined to comment on the
Tullow estimates and officials at Burren wouldn't discuss the
M'Boundi field reserve estimates until it releases results
tomorrow at 7 a.m. London time.
Maurel & Prom hasn't changed an estimate that its proven
and recoverable reserves were 310 million barrels, based on a
probability of between 50 percent and 90 percent calculated by
surveyor Beicip.
If the reserve estimate included the 10 percent probability
of proven and recoverable reserves, Maurel & Prom's total
reserves amounted to 672 million barrels.

Analysts at Morgan Stanley argued this week that mergers involving Europes biggest oil and gas groups should be on the agenda. They cite the problems that the majors have in replacing the oil and gas that they produce, as well as relatively low valuations, as the triggers. The markets herd mentality means that once one deal is announced, others will follow, as observers of Britains telecoms or ports sectors will know. The independents will not be immune from corporate activity should their larger peers start the consolidation process.

Jimmy,
Sorry to take so long to respond - I've been away for a few days and unable to get to a screen - I think that was fortunate for me because if I'd seen BUR sinking down to 860ish and then recovering I would have been mental.
I think that this is all about reserves - the market was spooked by the Tullow statement on M'boundi along with their results on Wednesday - this is what caused the 75p drop.
To be honest, I haven't a clue where we go from here. This was a bolt out of the blue. We now must wait for the BUR / M&P statement on reserves which is due on 21 April. To me, this is now a gamble. Do I feel lucky?

Cheers Pond Life , just very unfortunate .

>> PL

I do not really see this as a gamble at all, so long as you can take at least a several month view, and after a period of consolidation now is not the time to get out IMHO. There is plenty of drilling going on including Egypt which could be interesting and the buran field is still coming up trumps and gas reserves are not factored into the share price, and this will be coming to market. The stockmarket is nowhere near coming to its senses about oil prices. I saw a note from Deutsche the other day saying that they believe that by 2010 crude will be trading at $35/barrel. Dream on boys, or get realistic and multiply that by 3 or 4 times.

My only reservation is that BUR is no longer a small cap and therefore the chances of it doubling this year are not so great (although I think 50% is possible).

rgrds
gk

That's better ,Burren starting to show it's real value.

Much better to see it going up by 70p than watching it fall by 70p. Today I can afford to smile again. Also holding VPC and SEY, so a great day all round.

as an alternative to JKX which i feel is due for some consolidation, i would have no hesitation in suggesting Burren Oil (BUR), which is another excellently managed company which consistently beats forecasts ..... Furthermore, it is currently just over 1 off its 52-week high, for no good reason ..... indeed, it has recently had a broker upgrade

sorry to sound as though i am just ramping, but i feel i should bring this share to everyone's attention yet again ...... for the same reasons as stated previously

cynic - and yet for some reason the shares continue week. I can only assume that the recent Directors' share sales have affected sentiment - that plus the fact that we are still awaiting news of ther reserves valuations for M'Boundi. M&P have already released their total figure as calculated by D'Golyer and Macnaughton, the consultants, but interestingly, the breakdown figure for M'Boundi was not given. Are BUR hiding any dark secrets? Surely not.

put it this way ..... i was in these shares; made a decent profit which i took and bought back in a week or so ago ...... am still very happy in my belief that that decision was correct

Hi, just wondering about this company, I have noticed since they announced impressive results last March, the shares have been fairly quite and falling, do you think the consolidation of these shares are now overdone? After this week, do you think it is on the way to rise again. Is the price of the share realistic, when EPS are very high?

I've been watching this one for quite a while and decided to pitch in this morning at 723.99. There are four reasons why I felt this investment to be a good buying opportunity.

1. The present political situation in Iran is very unstable and can very easily boil over. There is no way that they are going to stop uranium enrichment and that can only mean one thing - military action. Should that happen then the price of oil will scoot past $100 in the blinking of an eye.

2. The developing world is creating a greater supply/demand problem and whenever demand increases then the price will do likewise.

3. The hurricane season always but always causes the price of oil to rise.

4. Burrens' share price is lagging well behind the ratio of other oil companies and has greater upside momentum whenever the market rises.

All of this imho.

I don't agree with the first 2 points of Harry's analysis, but I also do not think sp in this class company remotely deserves its recent hammering .... but there are any number of other shares to which this could apply too.

Will try to post the chart in a minute, but following the good results yesterday and a very encouraging CEO statement and the fact that sp has just broken through 200 dma, this quality oily is well worth tucking away

Powered by IST's

Hmm! the contrariness of the market!
Good results; encouraging to bullish trading statement; seemingly unexpected new discovery, though quantum still to be determined.
So what happens?
SP takes a dive, albeit that there is some reflection of the current underlying oil price.

If you have an appetite for quality oil producers and believe the current dip in crude will be no more than relatively short-lived, then at least put this stock on your watch list along with Tullow

Burren Energy Placing

RNS Number:6596J
Burren Energy PLC
28 September 2006


Burren Energy plc

("Company")

Placing and Director Shareholding


The Company announces that Seymour Pierce and KBC Peel Hunt have today placed on behalf of the First NIS Regional Fund SICAF (the "Fund") 7,699,516 ordinary shares at 830p per share with institutional investors.

This placing occurred as part of a winding up of the Fund ahead of its closure at the end of October. Following the placing the Fund no longer holds a Notifiable Interest in the Company.

In the Placing referred to above Atul Gupta, Chief Executive Officer, and Andrew Rose, Chief Financial Officer, acquired 12,000 shares and 1,500 shares respectively, at the placing price of 830p.

with this large overhang now out of the way, that cannot surely be anything but good news for sp ..... with the shares also being taken up by institutional holders, not only is it a signal that the institutions consider BUR a solid investment, especially at that price, but they are most unlikely to be offloading any.

although oil and commodities are not current flavour of the month, this could be seen as a good time to acquire ...... i may add to my own holding; not quite made up my mind

as earlier posts will show, i have been a great fan of this company in the past ..... today sees their preliminary figures out which are certainly more than adequate .... however, i am wary of buying at the moment even though rsi is ridiculously oversold .... but, if you looi at the 3 month chart below, you will see that the 25 and 50 dma have converged and have formd what is likley to be a pretty tough resistance .... keep watching for break out, but stay on sidelines for the time being

Broker Recommendations - Wednesday 23rd May 2007, 12:15 pm

Seymour Pierce says buy Burren Energy (LSE: BUR.L - news) and Coda (LSE: CODA.L - news) and overweight on Lloyds insurers.
The broker says hold Kesa Electricals (LSE: KESA.L - news) , Business Post and Experian (LSE: EXPN.L - news) .

Broker Views Selector
Barclays Stockbrokers:
Burren Energy
Date Broker name New Price Old price target New price target Broker change
23-May-07 Seymour Pierce Buy 821.50p - - Reiteration
23-May-07 Evolution Securities Buy 821.50p 1,084.00p 1,080.00p Reiteration
29-Mar-07 Evolution Securities Buy 786.00p 1,084.00p - Reiteration
20-Mar-07 UBS Buy 730.00p 995.00p 980.00p Reiteration
19-Mar-07 Evolution Securities Buy 743.00p - 1,084.00p Reiteration
23-Feb-07 Evolution Securities Buy 801.00p - 1,018.00p Reiteration
22-Jan-07 Dresdner Kleinwort Buy 749.50p 1,086.00p 1,019.00p Reiteration
16-Jan-07 Seymour Pierce Buy 748.00p - - Reiteration
16-Jan-07 Citigroup Buy 748.00p 1,030.00p 940.00p Reiteration
08-Nov-06 Dresdner Kleinwort Buy 860.00p - - New Coverage
16-Oct-06 Oriel Add 867.00p - - Upgrade
24-Jul-06 Deutsche Buy 799.00p - - New Coverage
02-Jun-06 Numis Add 820.00p 905.00p 910.00p Reiteration
01-Jun-06 Seymour Pierce Buy 811.00p - - Reiteration
31-May-06 UBS Buy 812.00p 1,070.00p 990.00p Reiteration
26-Apr-06 Morgan Stanley Equal-weight 1,000.00p - - New Coverage
18-Apr-06 UBS Buy 996.50p - - Upgrade
10-Apr-06 Merrill Lynch Neutral 952.50p - - DownGrade
07-Apr-06 Citigroup Buy 957.50p - 1,165.00p New Coverage
07-Mar-06 Seymour Pierce Buy 998.00p - - Reiteration
03-Feb-06 Seymour Pierce Buy 996.00p - - Reiteration
03-Feb-06 UBS Reduce 996.00p - - DownGrade
02-Feb-06 Oriel Reduce 1,010.50p - - DownGrade
15-Dec-05 UBS Neutral 913.50p - - DownGrade
27-Sep-05 Merrill Lynch Buy 846.00p - 1,015.00p New Coverage
21-Sep-05 UBS Buy 855.00p 800.00p 950.00p Upgrade
24-Aug-05 Bridgewell Securities Neutral 730.00p - - New Coverage
11-Aug-05 Numis Hold 818.00p 785.00p - No change
09-Aug-05 UBS Reduce 842.00p 620.00p 690.00p No change
18-Jul-05 Numis Add 675.00p 760.00p - No change
30-Jun-05 UBS Reduce 669.00p 540.00p 580.00p DownGrade
17-May-05 Numis Buy 481.00p 580.00p - Reiteration
17-May-05 Seymour Pierce Buy 481.00p - - Reiteration
05-Apr-05 UBS Neutral 530.00p 535.00p 540.00p Reiteration
04-Apr-05 Numis Hold 536.00p 540.00p - Reiteration
04-Apr-05 Investec Securities Buy 536.00p - - Upgrade
30-Mar-05 Seymour Pierce Buy 490.00p - - Reiteration
07-Mar-05 UBS Neutral 536.00p - 535.00p Reiteration
24-Feb-05 Numis Reduce 530.00p 450.00p - Reiteration
24-Feb-05 Seymour Pierce Buy 530.00p - - Reiteration
16-Feb-05 Seymour Pierce Buy 476.00p - - Reiteration
08-Feb-05 Seymour Pierce Buy 479.00p - - Reiteration
14-Dec-04 Numis Hold 434.00p - - Reiteration
14-Dec-04 Teathers Buy 434.00p - - Reiteration
14-Dec-04 Seymour Pierce Buy 434.00p - - Reiteration
01-Dec-04 Numis Hold 405.00p 415.00p - Reiteration
21-Sep-04 Teathers Buy 372.00p - - Reiteration
20-Sep-04 Seymour Pierce Buy 367.50p - - Reiteration
09-Aug-04 Dresdner Kleinwort Buy 348.00p - - New Coverage
06-Aug-04 Dresdner Kleinwort Buy 354.75p - 425.00p New Coverage

BUR has been a real pain of a share ..... i had it in my portfolio for ages but eventually dumped it in exasperation in favour of PMO (frying pan and fire!) ...... i still watch and will certainly consider getting back in at say 800 being 25 dma and also what looks like earlier support levels.

perhaps time to dust this one back down again ...... sp has had a horrid time, but as chart below shows, it has now jumped back up through both 25 and 50 dma and just poked through 200



it's also worth mentioning that Turkmenistan, where BUR is well-established, has (probably) the largest unexploited oil/gas reserves in the world, though the country is very very secretive and does not welcome outsiders (like Albania in the good old days!)

Richard, not sure if you bought into these recently, well done if so, on todays performance...

afraid not ...... sold them some time back and went for PMO instead; not necessarily a good move in hindsight! ..... but also a little later, IEC which has done me very well ...... anyway i clearly forgot that i had updated BUR at the very end of August .... still, at least i called it right for everyone else, though i also notice it dipped sharply back down at the back end of September!

actually, the bid approach here could go some way to explain today's 80p rise in PMO

What on earth is this rising for ?, another bid ?

i am sure i have seen some news that another company other than ENI(?) is sniffing

Cynic:
have a look at the FT: "Indian groups set to counterbid on ENI's agreed offer for Burren Energy". Just saw this snippet but don't have the paper (you may not either if not in UK today).

Cynic, Also this on AFX today:
LONDON (Thomson Financial) - Adani and Welspun are poised to make a counterbid for Burren Energy, the UK oil and gas exploration company, the Indian groups' banker, Darshan Desai, was quoted as telling the Financial Times.The bid will challenge a 1.8 bln stg offer agreed with Italy's Eni last year, the Indian groups' banker, Darshan Desai, said.According to Indian media reports, a joint venture between the Gujarat-based Adani and Welspun will offer to buy an initial 20 pct of Burren Energy at 1,320 pence per share.If successful that transaction, which would match Eni's existing offer, would be followed by a full takeover bid.

This RNS was released at 15:46 today:

Adani Welspun Exploration Limited ('Adani Welspun') notes the recent press
comment about its potential interest in acquiring Burren Energy PLC ('Burren').

Adani Welspun has reviewed this potential acquisition opportunity in addition to
other potential acquisitions but has not held any discussions with the board of
directors of Burren regarding a potential acquisition and, for the purposes of
Rule 2.8 of the Takeover Code, confirms that it has no intention of making an
offer to acquire Burren.