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

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.