Burford Capital Regulatory News (BUR)

19 Dec 2006 07:01

Burren Energy PLC19 December 2006 19 December 2006 Burren Energy Plc Operations Update : Congo, Yemen Burren Energy Plc ("Burren" or "the Company) today provides a drilling update onthe Company's Congo assets and announces the award of a new block in Yemen. Republic of Congo (Brazzaville) The exploration well Loufika Deep -1, drilled to target the Vandji reservoir(the source of production on the M'Boundi field 35km to the north-west), reacheda total depth of 2,842 metres but did not encounter the Vandji target. The well has been suspended and will be completed for production from theshallower zone which was tested in original Loufika -1 exploration well(September 2006) at 380 bopd. A light rig has been mobilised to drill 6delineation wells on this shallow prospect commencing in late December 2006. The rig used to drill the Loufika Deep -1 well is now being moved to the nearbyTioni Prospect to drill the Tioni-1 exploration well 5km to the south-west ofLoufika, again with the Vandji as objective. Yemen Burren is pleased to announce that it has been awarded Block 17 in Yemen in the3rd bidding round. Block 17 covers an area of approximately 19,400 km(2) centredon the port of Aden, located partly onshore and partly offshore. A PSA will benegotiated early in 2007. Burren will be operator with 100% working interest. The block had previously been operated by Elf in the late 1980s, and, havingevaluated existing seismic data, Burren believes that there are areas ofprospectivity that have been overlooked. Burren intends initially to acquire 2Dseismic over certain parts of the block both onshore and offshore. This award complements Burren's existing Block 6 in Yemen and brings the totalof Burren's licences in the Middle East to six, including three explorationlicences in Egypt and an additional exploration licence in Oman. ENQUIRIES: Burren Energy Tel : 020 7484 1900 Atul Gupta, Chief Executive OfficerBrian Thurley, Technical DirectorAndrew Rose, Chief Financial Officerwww.burren.co.uk------------------- Pelham PR Tel: 020 7743 6676James HendersonAlisdair Haythornthwaite Notes to Editors Burren Energy is an independent oil and gas exploration and production group,headquartered in London. It is focused on four regions: the Caspian region ofthe former Soviet Union, West Africa, Middle East and, through a strategicinvestment stake in the Hindustan Oil Exploration Company, India. The company islisted on the London Stock Exchange ("BUR.L"). This information is provided by RNS The company news service from the London Stock Exchange