25th Aug 2005 14:25
Burren Energy PLC25 August 2005 25 August 2005 Burren Energy Plc (Burren) US$ 80 million Loan Facility Burren announces the arrangement of a new US$80 million 4 year revolvingreserve-based secured loan facility, which will be available for generalcorporate purposes. The facility, which has been arranged by Natexis BanquesPopulaires and is being syndicated among a small number of European banks, hasthe capacity to be increased to US$150 million upon further syndication. The facility is expected to remain undrawn initially but will afford Burrenadditional financial flexibility with regard to future potential investmentopportunities. ENQUIRIES: Burren Energy PLC Tel: 0207 484 1900Andrew 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 through astrategic investment stake in the Hindustan Oil Exploration Company, India. Thecompany 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