17th May 2005 07:00
Burren Energy PLC17 May 2005 17 May 2005 Burren Energy Plc Drilling Update : Congo (Brazzaville) Burren announces that development well 1002, to the North of the M'Boundi field(as defined by the perimeter of the original 3D seismic), has been successfullycompleted and tested at an initial flow rate of just over 4,000 bopd. Averagegross production from M'Boundi during the month of April was 38,000 bopd (13,300attributable to Burren's 35% working interest). Elsewhere in the Kouilou exploration permit area an existing well drilled byElf, the previous operator, at Tchiniambi, to the southwest of the permit areahas been re-opened and tested at 300 bopd from the Mengo reservoir. This is alow permeability fracture formation, and further tests and studies will becarried out to establish whether further development of the Mengo reservoirwould be commercially viable. ENQUIRIES: Burren Energy PLC Tel: 0207 484 1900Finian O'Sullivan, Chief Executive OfficerAndrew Rose, Finance Directorwww.burren.co.uk Gavin Anderson & Company Tel: 0207 554 1400Deborah Walter / Charlotte Stone Notes to Editors Burren Energy is an independent oil and gas exploration and production group,headquartered in London. It is focused on four principal regions: the Caspianregion of the former Soviet Union, West Africa, North Africa and more recentlythrough a strategic investment stake in the Hindustan Oil Exploration Company,India. The company is listed on the London Stock Exchange ("BUR"). Burren's total proven & probable oil reserves as at 31 December 2004 were 245.5Mmbbls, on a working interest basis. In the Caspian region of Turkmenistan,Burren has a 100 per cent. working interest in the Nebit Dag PSA, which containsthe Burun oil and gas field with proven and probable oil reserves on a workinginterest basis of 129.1 Mmbbls. In the Republic of Congo (Brazzaville), Burrenhas interests in the M'Boundi, Kouakouala and Pointe Indienne fields withaggregate proven and probable oil reserves of 116.4 Mmbbls, again on a workinginterest basis. Significant exploration and development programmes are underwayin Turkmenistan and the Congo, and exploration is expected to commence in Egyptin 2005. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Burford Capital