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

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

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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