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

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 .