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

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.