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

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.