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Source: www.gulfoilandgas.com 4/5/2004, Location: Africa
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Burren Energy Plc announces that, as a result of the four wells drilled in 2004 on the M’Boundi field in Congo (Brazzaville), management has increased its estimate of proven and probable oil reserves in M’Boundi, net to Burren’s 35% interest on an entitlement basis, to 36 million barrels, compared with 21 million barrels at year-end 2003. This brings Burren’s total proven and probable entitlement oil reserves to 133 million barrels as of today, compared with 119 million barrels at year-end 2003. The new reserve numbers have been calculated using the same economic parameters as for the year-end figures and the 30 June 2003 figures which were verified by Ryder Scott.
A continuous programme of appraisal and development drilling is under way on the M’Boundi field with a minimum of 10 additional wells expected to be drilled during 2004. An extensional 3D seismic survey is planned for later this year over the perimeters of the field in order to delineate the possible limits of the structure.
Group production at the end of March 2004 was 11,500 bopd (net to Burren).
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