Burren Energy

Burren Energy plc (lse|BUR) is a British oil exploration and production company founded in 1994 by former CEO and current president Finian O’Sullivan. The company originally began as an oil transportation company in the Caspian Sea region, but later diversified into oil production in Turkmenistan, and in 2002 acquired Tacoma Resources, a company developing oil reserves in the Republic of Congo.

The company floated on the London Stock Exchange in late 2003, and is part of the FTSE 250 index. In February 2005, the company acquired a 26% stake in Indian firm Hindustan Oil Exploration, [cite news
publisher=BBC News Online
title=Burren making Indian oil purchase
url=http://news.bbc.co.uk/1/hi/business/4268887.stm
date=15 February, 2005
accessdate=2007-12-22] and was awarded two exploration contracts in Egypt. [cite news
publisher=BBC News Online
title=Burren awarded Egyptian contracts
url=http://news.bbc.co.uk/1/hi/business/4271029.stm
date=16 February, 2005
accessdate=2007-12-22] The company expanded exploration into Yemen and Oman in January 2006. [cite news
publisher=Sharecast
title=Burren Energy moves into Yemen and Oman
url=http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=604963
date=16 January, 2006
accessdate=2007-12-22]

On November 30 2007 Burren agreed to be acquired by Italian energy giant Eni in a deal valuing the company at £1.73 billion. [cite news
last=Bergin
first=Tom
publisher=Reuters
title=ENI to buy Burren Energy for 1.7 bln
url=http://uk.reuters.com/article/businessNews/idUKWLB393820071130
date=30 November, 2007
accessdate=2007-12-22]

References

External links

* [http://www.burren.co.uk/ Official website]
* [http://uk.finance.yahoo.com/q?s=BUR.L&m=L&d= Yahoo! Finance company profile]
* [http://www.timesonline.co.uk/article/0,,2095-2069545,00.html Burren determined to drill where others fear to tread] , Sunday Times article, March 5 2006.